Vivid Seats Inc (SEAT) Income Statement
SEAT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSEAT revenue and net income
Where SEAT's revenue goes
2025Each bar shows an amount and its share of revenue. SEAT kept −75.2% of revenue as net income.
SEAT profit margins
SEAT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −26.4% | −1.7% | +74.7% | — |
| Gross profit | −30.7% | −4.7% | +107.3% | — |
| Operating income | −233.8% | — | — | — |
| Net income | −4,654.9% | — | — | — |
| EPS (diluted) | −339.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SEAT quarterly EPS vs estimates
Vivid Seats beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.98).
SEAT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $570.8M | $775.6M | $712.9M | $600.3M | $443.0M | $35.1M | $468.9M |
| Cost of revenue | $173.4M | $201.9M | $182.2M | $140.5M | $90.6M | $24.7M | $106.0M |
| Gross profit | $397.3M | $573.7M | $530.7M | $459.8M | $352.4M | $10.4M | $362.9M |
| Sales, general & admin | $403.9M | $479.8M | $427.2M | $376.0M | $273.5M | $104.3M | $279.8M |
| Total operating expenses | $453.8M | $531.5M | $449.4M | $381.7M | $275.9M | $726.4M | $372.9M |
| Operating income | −$56.5M | $42.2M | $81.3M | $78.1M | $76.6M | −$716.0M | −$9.9M |
| Interest expense | $23.7M | $23.2M | $13.5M | $12.9M | $58.2M | $57.5M | $41.5M |
| Income before taxes | −$652.1M | $22.7M | $70.9M | $69.2M | −$18.8M | −$774.2M | −$53.8M |
| Income taxes | $69.4M | $8.4M | −$42.2M | −$1.6M | $304,000 | $57.5M | $41.5M |
| Net income | −$429.3M | $9.4M | $74.5M | $28.7M | −$16.1M | −$774.2M | −$53.8M |
| EBITDA | −$577.5M | $91.8M | $102.4M | $91.9M | $41.7M | −$668.5M | $80.7M |
| EPS (diluted) | −$15.04 | $6.29 | $8.98 | $3.45 | $0.36 | −$0.26 | — |
| Gross margin | 69.6% | 74.0% | 74.4% | 76.6% | 79.5% | 29.6% | 77.4% |
| Operating margin | −9.9% | 5.4% | 11.4% | 13.0% | 17.3% | −2,041.3% | −2.1% |
| Net margin | −75.2% | 1.2% | 10.5% | 4.8% | −3.6% | −2,207.1% | −11.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $129.9M | $125.8M | $126.8M | $136.4M | $143.6M | $164.0M | $199.8M | $186.6M | $198.3M | $190.9M | $198.3M | $188.1M |
| Cost of revenue | $38.6M | $51.5M | $42.1M | $44.3M | $42.4M | $44.5M | $52.5M | $51.0M | $48.8M | $49.6M | $51.3M | $50.5M |
| Gross profit | $91.2M | $74.3M | $84.7M | $92.0M | $101.1M | $119.5M | $147.3M | $135.6M | $149.6M | $141.3M | $147.0M | $137.7M |
| Sales, general & admin | $85.3M | $83.1M | $90.8M | $100.4M | $99.1M | $113.6M | $128.3M | $113.4M | $125.6M | $112.5M | $123.8M | $113.8M |
| Total operating expenses | $97.7M | $82.0M | $102.7M | $114.9M | $432.9M | $123.8M | $144.4M | $124.8M | $141.7M | $120.6M | $136.9M | $117.6M |
| Operating income | −$6.4M | −$7.7M | −$18.1M | −$22.8M | −$331.7M | −$4.3M | $2.9M | $10.8M | $7.9M | $20.7M | $10.1M | $20.1M |
| Interest expense | $6.1M | $5.9M | $6.3M | $6.1M | $5.6M | $5.7M | $6.5M | $6.3M | $5.3M | $5.1M | $4.9M | $2.5M |
| Income before taxes | −$13.4M | −$15.8M | −$429.4M | −$28.9M | −$187.2M | −$6.6M | −$3.1M | $13.5M | −$644,000 | $13.0M | $7.9M | $18.6M |
| Income taxes | $880,000 | −$1.2M | −$704,000 | −$9.2M | $76.2M | $3.2M | $1.3M | $4.3M | $577,000 | $2.3M | −$20.6M | $2.6M |
| Net income | −$14.3M | −$14.6M | −$275.2M | −$8.5M | −$139.7M | −$5.9M | −$886,000 | $5.3M | −$1.1M | $6.1M | $25.0M | $6.7M |
| EBITDA | $4.9M | $2.5M | −$409.8M | −$9.1M | −$169.2M | $10.7M | $17.6M | $30.5M | $15.2M | $28.6M | $22.2M | $24.5M |
| EPS (diluted) | −$1.30 | −$0.77 | −$1.43 | −$1.62 | −$12.29 | $0.30 | $0.32 | $1.72 | $2.21 | $2.04 | $0.09 | $1.62 |
| Gross margin | 70.2% | 59.1% | 66.8% | 67.5% | 70.4% | 72.9% | 73.7% | 72.7% | 75.4% | 74.0% | 74.1% | 73.2% |
| Operating margin | −5.0% | −6.1% | −14.2% | −16.8% | −231.1% | −2.6% | 1.5% | 5.8% | 4.0% | 10.8% | 5.1% | 10.7% |
| Net margin | −11.0% | −11.6% | −217.0% | −6.3% | −97.3% | −3.6% | −0.4% | 2.8% | −0.5% | 3.2% | 12.6% | 3.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SEAT's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SEAT financial results
In fiscal year 2025 (ended December 31, 2025), Vivid Seats reported revenue of $570.8 million, down 26.4% from the year before. It had a net loss of $429.3 million, a net profit margin of −75.2%. Diluted earnings per share came to −$15.04. Over five years revenue grew at an average rate of 74.7% a year.
See the SEAT stock overview for the latest quote and news, or the SEAT chart for price history and technical indicators.
SEAT income statement FAQ
What is Vivid Seats's annual revenue?
Vivid Seats reported total revenue of $570.8 million for fiscal year 2025, which ended on December 31, 2025. That was down 26.4% from $775.6 million the previous year.
Is Vivid Seats profitable?
No. Vivid Seats reported a net loss of $429.3 million in fiscal 2025, a net profit margin of −75.2%; its operating margin was −9.9%.
What is Vivid Seats's gross margin?
Vivid Seats's gross margin was 69.6% in fiscal 2025: for every $100 of revenue, Vivid Seats kept $70 after the direct cost of its products and services.
How fast is Vivid Seats growing?
Revenue grew 74.7% a year on average over the last five fiscal years, from $35.1 million to $570.8 million.
What are Vivid Seats's earnings per share?
Vivid Seats earned $-15.04 per diluted share in fiscal 2025, compared with $6.29 a year earlier.
When will Vivid Seats report its next earnings?
Vivid Seats is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Vivid Seats's fiscal year end?
Vivid Seats's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.