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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Vivid Seats
Vivid Seats (SEAT) investor relations material
Vivid Seats Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q3 Marketplace GOV was $623.988M, up 1% YoY, and Adjusted EBITDA was $8.865M vs. $4.905M; revenue was $126.889M and net loss was $17.384M.
An agreement in principle with a substantial majority of term lenders contemplates $60M of new capital, debt conversion to equity, $200M less funded debt and extended maturities.
Financial highlights
Q3 revenue declined to $126.889M from $136.373M; net loss narrowed to $17.384M from $19.713M.
Q3 operating loss was $11.3M vs. $22.8M; Adjusted EBITDA rose to $8.865M from $4.905M.
9M revenue fell 14% to $382.5M; net loss narrowed to $46.3M from $292.8M, which included $320.4M of impairment charges.
9M Adjusted EBITDA was $30.9M vs. $41.0M; Q3 marketing and selling, G&A, and cost of revenues declined 11%, 24%, and 7% YoY, respectively.
Outlook and guidance
FY 2026 Marketplace GOV guidance remained $2.3B–$2.6B and Adjusted EBITDA guidance remained $34M–$40M.
FY 2027 industry base case is mid-single-digit growth excluding the World Cup; with the event, industry activity is expected near flat or slightly down.
Q4 GOV depends heavily on an uncertain on-sale calendar over the next six to seven weeks; a full MLB season cancellation could create a 5%–6% GOV headwind.
A refreshed app loyalty framework and an end-to-end product rebuild are targeted to reach deployment milestones in Q1.
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Latest events from Vivid Seats
- Q2 2026 saw sequential growth, improved net loss, and raised guidance amid strong event demand.SEAT
Q2 2026 - Directors elected and auditor ratified; final results to be filed by June 15th.SEATAGM 2026
- Q1 2026 saw sequential gains in GOV and cash, but year-over-year declines in revenue and orders.SEATQ1 2026
- Virtual vote set for June 2026 on director elections and auditor ratification.SEATProxy filing
- Annual meeting to elect directors and ratify auditor, with robust governance and oversight.SEATProxy filing
- 2025 saw sharp declines and a major net loss, but cost savings and app growth support a positive 2026 outlook.SEATQ4 2025
- Resilient live events, strategic growth, and innovation drive long-term profitability.SEATCanaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024
- Q2 2024 revenue up 20% to $198.3M, Adjusted EBITDA up 42%, and net loss was $1.2M.SEATQ2 2024
- Q1 2025 saw revenue, GOV, and EBITDA declines, a net loss, and suspended guidance.SEATQ1 2025
Next Vivid Seats earnings date
Q4 20269 Mar, 2027
Vivid Seats
Next Vivid Seats earnings date
Q4 20269 Mar, 2027
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Frequently asked questions
Vivid Seats Inc operates an online ticket marketplace for live events, including sports, concerts, and theater performances. The company provides a digital platform that connects ticket buyers with sellers, along with mobile ticketing and loyalty programs. It serves customers across the United States. The company is headquartered in Chicago, Illinois, and its shares are listed on the NASDAQ.