Vivid Seats (NASDAQ:SEAT) Releases Earnings Results, Misses Estimates By $8.58 EPS

14 Mar 2026, 14:30 by Michael Walen · The Markets Daily

Vivid Seats (NASDAQ:SEAT – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($10.39) EPS for the quarter, missing the consensus estimate of ($1.81) by ($8.58), Zacks reports. The firm had revenue of $126.81 million during the quarter, compared to the consensus estimate of $137.18 million. Vivid Seats had a positive return on equity of 21.28% and a negative net margin of 75.21%.

Here are the key takeaways from Vivid Seats’ conference call:

Q4 GOV fell to $581M from $994M year‑over‑year, revenues dropped to $127M and Adjusted EBITDA was only $1M as industry softness, a large private‑label loss and weaker concert onsales pressured results.
The company has hit its expanded cost‑cut target of $60 million of annualized savings and completed corporate simplification (termination of the Tax Receivable Agreement and collapse of the dual‑class share structure), which management says improves transparency and frees cash to reinvest in growth.
Management reaffirmed 2026 guidance with Marketplace GOV of $2.2–$2.6 billion and Adjusted EBITDA of $30–$40 million, and provided Q1 targets (GOV $570–$620M, Adj. EBITDA $8–$10M and ending cash $125–$135M), signaling expectation of sequential improvement into H2.
App and AI initiatives are highlighted as growth levers—app GOV is up over 20% year‑over‑year through early 2026 and app share rose >500 bps since Q3, plus a new Vivid Seats app in ChatGPT to capture AI‑driven discovery (current direct AI traffic is still ~1%).
Leadership changes include a new CFO (Joseph Thomas) and a new General Counsel (Austin Arnett) and management says it has a refreshed strategy focused on product, efficiency and the core customer funnel to return to profitable growth.

Vivid Seats Trading Up 4.4%

Shares of Vivid Seats stock opened at $5.90 on Friday. Vivid Seats has a fifty-two week low of $5.06 and a fifty-two week high of $62.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.60 and a current ratio of 0.67. The company has a market capitalization of $63.31 million, a P/E ratio of -0.09 and a beta of 0.95. The company has a fifty day moving average of $6.69 and a 200 day moving average of $9.86.

Hedge Funds Weigh In On Vivid Seats

Several large investors have recently made changes to their positions in the business. Jump Financial LLC bought a new position in shares of Vivid Seats in the second quarter worth about $32,000. Raymond James Financial Inc. bought a new stake in Vivid Seats during the 2nd quarter valued at approximately $35,000. Rangeley Capital LLC purchased a new position in Vivid Seats in the 2nd quarter worth approximately $42,000. Quantbot Technologies LP purchased a new position in Vivid Seats in the 2nd quarter worth approximately $43,000. Finally, Deutsche Bank AG boosted its stake in Vivid Seats by 270.0% in the 4th quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock worth $78,000 after purchasing an additional 7,862 shares during the period. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SEAT has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Vivid Seats in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $7.00 price target on shares of Vivid Seats in a research report on Tuesday, January 20th. Morgan Stanley set a $7.00 price objective on shares of Vivid Seats and gave the stock a “positive” rating in a research note on Friday. Craig Hallum raised shares of Vivid Seats from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday. Finally, Citigroup cut their target price on shares of Vivid Seats from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.27.

Get Our Latest Analysis on SEAT

Key Stories Impacting Vivid Seats

Here are the key news stories impacting Vivid Seats this week:

Positive Sentiment: Craig Hallum upgraded SEAT from “hold” to “buy” and set a $15 price target, signaling conviction from at least one analyst that the stock has meaningful upside. Craig Hallum Upgrade
Positive Sentiment: Company provided 2026 and Q1 2026 guidance that targets a path back to profitability (FY 2026 adjusted EBITDA $30–$40M; Q1 adj. EBITDA $8–$10M; Q1 cash ~$125–$135M), which investors can view as a roadmap for operational recovery. Earnings Release & Guidance
Neutral Sentiment: Benchmark lowered its price target from $18 to $10 but kept a “buy” rating — a mixed signal that still implies upside despite weaker near-term results. Benchmark PT Lowered
Neutral Sentiment: RBC lowered its target from $12 to $8 and moved to “sector perform” — the note reduces near-term enthusiasm but still leaves modeled upside from current levels. RBC Price Target Change
Negative Sentiment: Q4 results were weak: Marketplace GOV down ~42% YoY, revenue down ~37% YoY, massive non‑cash impairment charges and a net loss of ~$429M for Q4 — the operational decline and impairments triggered the large earnings miss and pressure on equity. Q4 Financials
Negative Sentiment: Reports say the company’s loan situation is in “deeper distress” after the weak results, highlighting elevated leverage, lower cash (quarter-end cash ~ $103M) and potential creditor concerns that could pressure the stock. Loan Distress Article
Negative Sentiment: Management disclosed a new app-store/regulatory risk that could raise costs or limit mobile distribution over time — a potential margin headwind for a marketplace that increasingly relies on app engagement. App Store Risk Disclosure

About Vivid Seats

(Get Free Report)

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.