Vivid Seats Inc Financials

SEAT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Vivid Seats Inc (SEAT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 36/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Vivid Seats Inc's revenue grew 8.5% year-over-year to $647.9M, a solid pace of expansion. This earns a growth score of 53/100.

Leverage

Vivid Seats Inc has a moderate D/E ratio of 1.47. This balance of debt and equity financing earns a leverage score of 57/100.

Liquidity

Vivid Seats Inc's current ratio of 0.81 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 12/100, which could limit financial flexibility.

Cash Flow

Vivid Seats Inc has a free cash flow margin of 7.7%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Vivid Seats Inc generates a 5.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100. This is down from 66.1% the prior year.

Piotroski F-Score Neutral

5/9

Vivid Seats Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.02x

For every $1 of reported earnings, Vivid Seats Inc generates $4.02 in operating cash flow ($53.9M OCF vs $13.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$647.9M

YoY+8.5%

5Y CAGR+9.9%

Vivid Seats Inc generated $647.9M in revenue in fiscal year 2024. This represents an increase of 8.5% from the prior year.

EBITDA

N/A

Free Cash Flow

$49.7M

YoY-66.1%

5Y CAGR-8.0%

Vivid Seats Inc generated $49.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 66.1% from the prior year.

Net Income

$13.4M

YoY-80.7%

Vivid Seats Inc reported $13.4M in net income in fiscal year 2024. This represents a decrease of 80.7% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$243.5M

YoY+94.0%

5Y CAGR+24.5%

Vivid Seats Inc held $243.5M in cash against $385.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

2.1%

YoY-9.6pp

5Y CAGR+15.4pp

Vivid Seats Inc's net profit margin was 2.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9.6 percentage points from the prior year.

Return on Equity

5.1%

YoY-61.0pp

Vivid Seats Inc's ROE was 5.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 61.0 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$23.0M

YoY+14.4%

Vivid Seats Inc spent $23.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 14.4% from the prior year.

Capital Expenditures

$4.2M

YoY+372.3%

5Y CAGR+27.4%

Vivid Seats Inc invested $4.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 372.3% from the prior year.

SEAT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$647.9M+8.5%	$597.4M+16.9%	$511.1M+31.2%	$389.7M+1573.8%	$23.3M-94.2%	$403.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$8.4M+119.9%	-$42.2M-2554.0%	-$1.6M-623.0%	$304K	N/A	N/A
Net Income	$13.4M-80.7%	$69.4M-1.9%	$70.8M+1509.1%	-$5.0M+99.4%	-$774.2M-1337.7%	-$53.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$104.8M-8.4%	$114.5M-14.4%	$133.7M-19.0%	$165.2M-2.9%	$170.0M+6.3%	$160.0M-4.3%	$167.3M+8.3%	$154.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$30.2M+91.0%	-$335.4M-3078.3%	-$10.6M-9.5%	-$9.6M-2105.0%	-$437K-103.4%	$12.9M-35.2%	$19.8M+197.3%	$6.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SEAT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.6B+5.5%	$1.6B+34.6%	$1.2B-18.3%	$1.4B	N/A	N/A
Current Assets	$345.2M+40.3%	$246.0M-25.8%	$331.5M-45.7%	$610.2M	N/A	N/A
Cash & Equivalents	$243.5M+94.0%	$125.5M-50.1%	$251.5M-48.6%	$489.5M+71.6%	$285.3M+251.0%	$81.3M
Inventory	$19.6M-6.7%	$21.0M+64.4%	$12.8M+8.6%	$11.8M	N/A	N/A
Accounts Receivable	$60.3M-12.0%	$68.6M+6755.5%	$1.0M-86.1%	$7.2M	N/A	N/A
Goodwill	$943.1M-0.4%	$947.4M+32.4%	$715.3M-0.4%	$718.2M	N/A	N/A
Total Liabilities	$1.4B-4.9%	$1.4B-5.8%	$1.5B-32.4%	$2.3B	N/A	N/A
Current Liabilities	$425.8M-12.7%	$487.8M+29.0%	$378.0M-24.0%	$497.5M	N/A	N/A
Long-Term Debt	$385.0M+45.5%	$264.6M-0.1%	$264.9M-42.4%	$460.1M-47.2%	$870.9M	N/A
Total Equity	$261.1M+148.6%	$105.0M+127.4%	-$382.7M+55.5%	-$860.7M-216.7%	-$271.8M-152.4%	$518.3M
Retained Earnings	-$930.2M+1.0%	-$939.6M+7.3%	-$1.0B+2.7%	-$1.0B	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.1B-3.7%	$1.1B-28.4%	$1.6B-1.9%	$1.6B-1.1%	$1.7B+4.1%	$1.6B+2.5%	$1.6B+11.9%	$1.4B
Current Assets	$233.9M-11.7%	$264.9M-17.2%	$319.8M-7.4%	$345.2M-6.9%	$370.8M+24.9%	$296.9M+20.7%	$246.0M-39.3%	$405.5M
Cash & Equivalents	$145.1M-5.2%	$153.0M-23.3%	$199.5M-18.1%	$243.5M+3.9%	$234.3M+52.1%	$154.0M+22.7%	$125.5M-53.3%	$268.7M
Inventory	$23.6M-27.7%	$32.6M+18.0%	$27.7M+41.1%	$19.6M-35.2%	$30.2M+2.5%	$29.5M+40.4%	$21.0M-2.4%	$21.5M
Accounts Receivable	$51.2M-17.3%	$62.0M-10.4%	$69.2M+14.8%	$60.3M	N/A	N/A	$68.6M+778.9%	$7.8M
Goodwill	$648.6M-0.1%	$649.4M-31.3%	$945.3M+0.2%	$943.1M+0.2%	$941.5M-0.3%	$944.1M-0.3%	$947.4M+24.7%	$760.0M
Total Liabilities	$771.6M-3.9%	$803.1M-19.6%	$999.2M-27.3%	$1.4B-8.3%	$1.5B+3.4%	$1.4B+0.3%	$1.4B-4.0%	$1.5B
Current Liabilities	$348.2M-5.1%	$367.1M-11.8%	$416.3M-2.2%	$425.8M-9.3%	$469.6M-10.6%	$525.2M+7.7%	$487.8M+7.4%	$454.1M
Long-Term Debt	$384.2M-0.2%	$385.0M-0.2%	$385.8M+0.2%	$385.0M-0.4%	$386.5M+46.4%	$264.0M-0.2%	$264.6M-0.5%	$265.9M
Total Equity	$272.2M+25.2%	$217.3M-42.9%	$380.7M+45.8%	$261.1M+67.6%	$155.8M+11.7%	$139.6M+32.9%	$105.0M+187.3%	-$120.3M
Retained Earnings	-$1.1B-0.8%	-$1.1B-14.9%	-$936.1M-0.6%	-$930.2M+0.5%	-$934.6M-0.1%	-$933.5M+0.6%	-$939.6M+2.6%	-$964.6M

SEAT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$53.9M-63.4%	$147.3M+924.8%	$14.4M-91.8%	$175.8M+618.7%	-$33.9M-144.3%	$76.5M
Capital Expenditures	$4.2M+372.3%	$895K-74.8%	$3.6M+214.3%	$1.1M+232.0%	$341K-72.9%	$1.3M
Free Cash Flow	$49.7M-66.1%	$146.4M+1253.7%	$10.8M-93.8%	$174.7M+610.2%	-$34.2M-145.5%	$75.2M
Investing Cash Flow	-$26.7M+88.1%	-$225.6M-1363.8%	-$15.4M-65.0%	-$9.3M-22.9%	-$7.6M+81.1%	-$40.2M
Financing Cash Flow	$86.1M+298.2%	-$43.4M+81.6%	-$236.5M-721.9%	$38.0M-84.5%	$245.5M+542.7%	-$55.5M
Dividends Paid	N/A	N/A	N/A	N/A	$120K	N/A
Share Buybacks	$23.0M+14.4%	$20.1M-38.2%	$32.5M	$0	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$512K+101.8%	-$28.6M-13.2%	-$25.3M-152.9%	$47.8M+446.1%	-$13.8M-135.3%	$39.2M+18.9%	$32.9M+3.8%	$31.7M
Capital Expenditures	$10K-95.2%	$207K-88.7%	$1.8M-46.9%	$3.5M+1109.8%	$286K+210.9%	$92K-16.4%	$110K-38.5%	$179K
Free Cash Flow	$502K+101.7%	-$28.8M-6.3%	-$27.1M-161.2%	$44.3M+414.6%	-$14.1M-136.1%	$39.1M+19.0%	$32.8M+4.1%	$31.5M
Investing Cash Flow	-$4.6M-12.3%	-$4.1M+45.9%	-$7.6M+15.0%	-$8.9M-69.2%	-$5.3M+0.5%	-$5.3M+96.6%	-$154.6M-136.2%	-$65.4M
Financing Cash Flow	-$4.0M+71.0%	-$13.9M-19.9%	-$11.6M-542.1%	-$1.8M-101.8%	$99.3M+2253.2%	-$4.6M+72.4%	-$16.7M-299.1%	-$4.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$2.4M-75.4%	$9.9M+64.7%	$6.0M+37550.0%	-$16K-100.1%	$17.0M+446.3%	$3.1M-75.1%	$12.5M	$0

SEAT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	2.1%-9.6pp	11.6%-2.2pp	13.9%+15.1pp	-1.3%+3324.1pp	-3325.4%-3312.1pp	-13.3%
Return on Equity	5.1%-61.0pp	66.1%	N/A	N/A	N/A	N/A
Return on Assets	0.8%-3.7pp	4.5%-1.7pp	6.2%+6.5pp	-0.4%	N/A	N/A
Current Ratio	0.81+0.3	0.50-0.4	0.88-0.3	1.23	N/A	N/A
Debt-to-Equity	1.47-1.0	2.52+3.2	-0.69-0.2	-0.53+2.7	-3.20	N/A
FCF Margin	7.7%-16.8pp	24.5%+22.4pp	2.1%-42.7pp	44.8%+191.9pp	-147.0%-165.7pp	18.6%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-28.8%+264.1pp	-293.0%-285.1pp	-7.9%-2.1pp	-5.8%-5.6pp	-0.3%-8.3pp	8.0%-3.8pp	11.9%+7.5pp	4.3%
Return on Equity	N/A	N/A	N/A	3.2%	N/A	9.2%-9.7pp	18.9%	N/A
Return on Assets	-2.7%+26.5pp	-29.2%-28.5pp	-0.7%-0.1pp	-0.6%-0.6pp	-0.0%-0.8pp	0.8%-0.5pp	1.3%+0.8pp	0.5%
Current Ratio	0.67-0.1	0.72-0.0	0.77-0.0	0.81+0.0	0.79+0.2	0.57+0.1	0.50-0.4	0.89
Debt-to-Equity	1.41-0.4	1.77+0.8	1.01-0.5	1.47-1.0	2.48+0.6	1.89-0.6	2.52+4.7	-2.21
FCF Margin	0.5%+25.7pp	-25.2%-4.9pp	-20.3%-47.1pp	26.8%+35.1pp	-8.3%-32.7pp	24.4%+4.8pp	19.6%-0.8pp	20.4%

Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Vivid Seats Inc's annual revenue?

Vivid Seats Inc (SEAT) reported $647.9M in total revenue for fiscal year 2024. This represents a 8.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Vivid Seats Inc's revenue growing?

Vivid Seats Inc (SEAT) revenue grew by 8.5% year-over-year, from $597.4M to $647.9M in fiscal year 2024.

Is Vivid Seats Inc profitable?

Yes, Vivid Seats Inc (SEAT) reported a net income of $13.4M in fiscal year 2024, with a net profit margin of 2.1%.

How much debt does Vivid Seats Inc have?

As of fiscal year 2024, Vivid Seats Inc (SEAT) had $243.5M in cash and equivalents against $385.0M in long-term debt.

What is Vivid Seats Inc's net profit margin?

Vivid Seats Inc (SEAT) had a net profit margin of 2.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Vivid Seats Inc's return on equity (ROE)?

Vivid Seats Inc (SEAT) has a return on equity of 5.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Vivid Seats Inc's free cash flow?

Vivid Seats Inc (SEAT) generated $49.7M in free cash flow during fiscal year 2024. This represents a -66.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Vivid Seats Inc's operating cash flow?

Vivid Seats Inc (SEAT) generated $53.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Vivid Seats Inc's total assets?

Vivid Seats Inc (SEAT) had $1.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Vivid Seats Inc's capital expenditures?

Vivid Seats Inc (SEAT) invested $4.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Vivid Seats Inc buy back shares?

Yes, Vivid Seats Inc (SEAT) spent $23.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is Vivid Seats Inc's current ratio?

Vivid Seats Inc (SEAT) had a current ratio of 0.81 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Vivid Seats Inc's debt-to-equity ratio?

Vivid Seats Inc (SEAT) had a debt-to-equity ratio of 1.47 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vivid Seats Inc's return on assets (ROA)?

Vivid Seats Inc (SEAT) had a return on assets of 0.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Vivid Seats Inc's Piotroski F-Score?

Vivid Seats Inc (SEAT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vivid Seats Inc's earnings high quality?

Vivid Seats Inc (SEAT) has an earnings quality ratio of 4.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Vivid Seats Inc?

Vivid Seats Inc (SEAT) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.