Stock Track | Vivid Seats Plunges as Concert Supply Headwinds Weigh on Q3 Results

Stock Track11-07

Shares of Vivid Seats Inc. (SEAT) plummeted over 13% on Tuesday after the online ticket marketplace reported disappointing third-quarter results and lowered its full-year guidance, citing temporary headwinds from lower concert supply.

The company's Marketplace Gross Order Value (GOV), a key metric representing the total value of orders placed on its platform, declined 13% year-over-year to $871.7 million in the third quarter. Vivid Seats attributed this decline to lower concert supply, including the impact of venue and artist mix.

Despite the drop in Marketplace GOV, Vivid Seats managed to maintain relatively flat revenues of $186.6 million, beating analysts' estimates slightly. However, net income fell 43% to $9.2 million, while Adjusted EBITDA grew a modest 2% to $34.1 million.

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