Vivid Seats Cuts Costs as Net Losses Mount

Ticket reseller Vivid Seats’ debt sank after the company reported its fourth quarter and full year 2025 results Thursday (March 12), Bloomberg reported Friday (March 13).

The earnings missed estimates and guided for weaker results this year, according to the report.

Vivid Seats reported declines across key operational and financial metrics in a Thursday earnings release. Compared to the same quarter a year earlier, the company’s fourth quarter gross order value (GOV) was down 42%, revenues were down 37%, and its adjusted EBITDA was down $33.4 million from the year-ago figure of $34.2 million.

The company’s net loss was $428.7 million, compared to $4.4 million in the fourth quarter of 2024, according to the release.

Looking ahead, Vivid Seats’ financial outlook for full year 2026 anticipates marketplace GOV between $2.2 billion and $2.6 billion, compared to $2.7 billion in 2025, and adjusted EBITDA between $30 million and $40 million, compared to $41.8 million in 2025, according to the release.

Vivid Seats CEO Lawrence Fey said in the release that the company’s strategy and execution are delivering measurable results in the first quarter of 2026.

“We are enhancing our foundational strengths that include our leading technology, unique data assets, relentless focus on efficiency, and differentiated customer value proposition,” Fey said. “We are particularly encouraged by the positive impact and momentum we are seeing from the impact of our enhanced App value proposition coupled with our cost reduction program.”

According to a presentation released Thursday, Vivid Seats is pursuing a cost reduction program it expects to generate over $60 million in annualized savings; has completed a corporate simplification that reduces complexity, improves transparency and provides financial benefits; and is investing in growth with an enhanced value proposition and its Lowest Price Guarantee in the app.

The company’s app orders rose five percentage points over the year to reach 37% of GOV in the fourth quarter, the highest in Vivid Seats’ history, per the presentation.

It was reported in December 2024 that Vivid Seats considered a sale after getting some takeover interest. At that time, the company’s stock had fallen 40% over the previous year.