Vivid Seats Inc. Warrant (SEATW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SEATW SEC filings page.
Vivid Seats Inc. Warrant (SEATW) reported $450.5M in revenue for fiscal year 2025, down 30.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Reported earnings have decoupled from cash generation while a shrinking balance sheet leaves short-term financing tight.
In FY2025, net income reached$806.1M while operating cash flow was-$91.6M ; that gap marks a sharp break in earnings quality. The divergence coincided with revenue falling to$450.5M from$647.9M , suggesting reported profit was not primarily produced by recurring operating cash generation.
Assets contracted from
Operating cash flow had already weakened across FY2023 and FY2024, and FY2025 free cash flow was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Vivid Seats Inc. Warrant's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Vivid Seats Inc. Warrant, and counted as zero in the overall score.
Vivid Seats Inc. Warrant's revenue declined 30.5% year-over-year, from $647.9M to $450.5M. This contraction results in a growth score of 7/100.
Vivid Seats Inc. Warrant's current ratio of 0.59 is below the typical benchmark, resulting in a score of 6/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Vivid Seats Inc. Warrant's operations used $91.6M of cash, and capex of $2.2M added to the outflow, for a free cash flow shortfall of $93.8M. This results in a cash flow score of 19/100.
Not available for Vivid Seats Inc. Warrant, and counted as zero in the overall score.
Vivid Seats Inc. Warrant passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Vivid Seats Inc. Warrant used $0.11 of operating cash (-$91.6M OCF vs $806.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Vivid Seats Inc. Warrant generated $103.9M in revenue in Q2 2026. This represents a decrease of 9.2% from the same quarter a year earlier. Against the prior quarter it is up 6.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Vivid Seats Inc. Warrant recorded an outflow of $799K in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 97.2% from the same quarter a year earlier. Against the prior quarter it is down 101.7%.
Vivid Seats Inc. Warrant held $136.7M in cash against $15.3M in long-term debt as of Q2 2026, with $378.6M of liabilities due within a year.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
Vivid Seats Inc. Warrant repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Vivid Seats Inc. Warrant reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Not reported for Q2 2026.
SEATW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.9M-9.2% | $97.5M-27.1% | $97.5M-41.0% | $104.8M-31.3% | $114.5M-32.7% | $133.7M-16.4% | $165.2M-1.2% | $152.7M-1.1% |
| Net Income | N/A | -$14.6M-38.6% | $1.2B+12369.2% | -$30.2M-384.5% | -$335.4M-76653.1% | -$10.6M-182.0% | -$9.6M-148.5% | $10.6M+59.2% |
| EPS (Diluted) | N/A | -$1.35-43.6% | N/A | N/A | N/A | -$0.94 | N/A | N/A |
| Diluted Shares (Avg) | N/A | 11M+3.4% | N/A | N/A | N/A | 10M | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic).
SEATW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $688.8M-40.1% | $691.7M-56.9% | $636.9M-61.1% | $1.1B-31.3% | $1.1B-30.5% | $1.6B+1.0% | $1.6B+5.5% | $1.6B+16.3% |
| Current Assets | $248.7M-6.1% | $243.3M-23.9% | $178.5M-48.3% | $233.9M-28.2% | $264.9M-28.6% | $319.8M+7.7% | $345.2M+40.3% | $325.9M-19.6% |
| Cash & Equivalents | $136.7M-10.7% | $143.6M-28.0% | $102.7M-57.8% | $145.1M-28.3% | $153.0M-34.7% | $199.5M+29.5% | $243.5M+94.0% | $202.3M-24.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $26.9M-17.5% | $28.9M+4.4% | $18.2M-7.3% | $23.6M+5.9% | $32.6M+7.8% | $27.7M-6.3% | $19.6M-6.7% | $22.3M+3.3% |
| Accounts Receivable | $59.1M-4.6% | $49.3M-28.7% | $43.5M-27.8% | $51.2M | $62.0M | $69.2M | $60.3M-12.0% | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $283.5M-56.4% | $283.7M-70.0% | $283.9M-69.9% | $648.6M-31.5% | $649.4M-31.0% | $945.3M+0.1% | $943.1M-0.4% | $946.9M+24.6% |
| Total Liabilities | $793.9M-1.1% | $787.1M-21.2% | $722.0M-47.5% | $771.6M-39.8% | $803.1M-46.4% | $999.2M-31.1% | $1.4B-4.9% | $1.3B-14.9% |
| Current Liabilities | $378.6M+3.1% | $371.1M-10.9% | $303.3M-28.8% | $348.2M-15.6% | $367.1M-21.8% | $416.3M-20.7% | $425.8M-12.7% | $412.7M-9.1% |
| Non-Current Liabilities | $415.3M-4.8% | $416.0M-28.6% | $418.7M-55.9% | $423.4M-27.8% | $436.0M-26.2% | $582.9M+24.6% | $949.2M+99.6% | $586.4M+42.8% |
| Long-Term Debt | $15.3M-13.7% | $15.9M-12.9% | $16.5M-12.2% | $17.1M+8.1% | $17.7M+9.7% | $18.2M+16.4% | $18.7M+15.5% | $15.8M-0.8% |
| Total Equity | -$105.1M-148.3% | -$95.4M-125.1% | -$85.1M-132.6% | $272.2M-17.4% | $217.3M+39.5% | $380.7M+172.8% | $261.1M+148.6% | $329.4M+373.9% |
| Retained Earnings | -$1.4B-29.1% | -$1.4B-46.8% | -$1.4B-46.2% | -$1.1B-16.7% | -$1.1B-15.1% | -$936.1M-0.3% | -$930.2M+1.0% | -$929.3M+3.7% |
SEATW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$799K+97.2% | $46.0M+281.9% | -$38.2M-179.9% | $512K+102.7% | -$28.6M-107.3% | -$25.3M-164.6% | $47.8M+45.1% | -$19.2M-160.6% |
| Depreciation & Amortization | $12.3M-0.2% | $12.3M+5.9% | $11.7M-7.0% | $13.7M+28.6% | $12.3M+17.5% | $11.6M+10.9% | $12.6M+46.8% | $10.7M+223.2% |
| Stock-Based Compensation | N/A | $4.4M-58.9% | N/A | N/A | N/A | $10.8M+26.7% | N/A | N/A |
| Capital Expenditures | $0-100.0% | $23K-98.7% | $111K-96.8% | $10K-97.4% | $207K-27.6% | $1.8M+1895.7% | $3.5M+3045.5% | $389K+117.3% |
| Free Cash Flow | -$799K+97.2% | $46.0M+269.5% | -$38.3M-186.4% | $502K+102.6% | -$28.8M-104.6% | -$27.1M-169.4% | $44.3M+35.0% | -$19.6M-162.2% |
| Investing Cash Flow | -$3.8M+6.6% | -$3.1M+59.0% | -$3.9M+56.1% | -$4.6M+36.9% | -$4.1M+22.2% | -$7.6M-43.2% | -$8.9M+94.2% | -$7.3M+88.9% |
| Financing Cash Flow | -$1.8M+86.8% | -$1.8M+84.3% | $96K+105.3% | -$4.0M+41.2% | -$13.9M-114.0% | -$11.6M-150.8% | -$1.8M+89.2% | -$6.8M-63.0% |
| Share Buybacks | $0-100.0% | $0-100.0% | $3K-81.3% | $2.4M-17.0% | $9.9M-41.8% | $6.0M+93.0% | -$16K-99.9% | $2.9M |
Not reported in any period shown, so not listed: Dividends Paid.
SEATW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | N/A | -15.0%-7.1pp | 1212.8% | -28.8%-35.8pp | -293.0% | -7.9%-15.9pp | -5.8%-17.7pp | 7.0%+2.6pp |
| Return on Equity | N/A | N/A | N/A | -11.1%-14.3pp | -154.3%-154.1pp | -2.8%-12.0pp | -3.7%-22.6pp | 3.2% |
| Return on Assets | N/A | -2.1%-1.5pp | 185.6%+186.2pp | -2.7%-3.4pp | -29.2%-29.1pp | -0.7%-1.5pp | -0.6%-1.9pp | 0.7%+0.2pp |
| Current Ratio | 0.66-0.1x | 0.66-0.1x | 0.59-0.2x | 0.67-0.1x | 0.72-0.1x | 0.77+0.2x | 0.81+0.3x | 0.79-0.1x |
| Debt-to-Equity | N/A | N/A | N/A | 0.060.0x | 0.080.0x | 0.05-0.1x | 0.07-0.1x | 0.05 |
| Asset Turnover | 0.15+0.1x | 0.14+0.1x | 0.15+0.1x | 0.090.0x | 0.100.0x | 0.080.0x | 0.100.0x | 0.090.0x |
| FCF Margin | -0.8%+24.4pp | 47.1%+67.4pp | -39.3%-66.1pp | 0.5%+13.3pp | -25.2%-16.9pp | -20.3%-44.7pp | 26.8%+7.2pp | -12.8%-33.3pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: Shareholder equity is negative (-$85.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.59), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Vivid Seats Inc. Warrant SEATW | FY2025 | $450.5M | $806.1M | N/A | N/A | 19/100 |
| Onfolio Holdings Inc. Warrant ONFOW | FY2025 | $10.7M | -$2.6M | -24.1% | N/A | 47/100 |
| Scienjoy Holding Corporation SJ | FY2025 | $177.5M | -$84.0M | -47.3% | $29.7M | 44/100 |
| PodcastOne, Inc. PODC | FY2026 | $61.7M | -$2.6M | -4.3% | $74.1M | 38/100 |
Where Vivid Seats Inc. Warrant Ranks
Frequently Asked Questions
What is Vivid Seats Inc. Warrant's annual revenue?
Vivid Seats Inc. Warrant (SEATW) reported $450.5M in total revenue for fiscal year 2025. This represents a -30.5% 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. Warrant's revenue growing?
Vivid Seats Inc. Warrant (SEATW) revenue declined by 30.5% year-over-year, from $647.9M to $450.5M in fiscal year 2025.
Is Vivid Seats Inc. Warrant profitable?
Yes, Vivid Seats Inc. Warrant (SEATW) reported a net income of $806.1M in fiscal year 2025.
How much debt does Vivid Seats Inc. Warrant have?
As of fiscal year 2025, Vivid Seats Inc. Warrant (SEATW) had $102.7M in cash and equivalents against $16.5M in long-term debt.
What is Vivid Seats Inc. Warrant's free cash flow?
Vivid Seats Inc. Warrant (SEATW) recorded an outflow of $93.8M in free cash flow during fiscal year 2025. This represents a -288.7% 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. Warrant's operating cash flow?
Vivid Seats Inc. Warrant (SEATW) recorded an outflow of $91.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Vivid Seats Inc. Warrant's total assets?
Vivid Seats Inc. Warrant (SEATW) had $636.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vivid Seats Inc. Warrant's capital expenditures?
Vivid Seats Inc. Warrant (SEATW) invested $2.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Vivid Seats Inc. Warrant's current ratio?
Vivid Seats Inc. Warrant (SEATW) had a current ratio of 0.59 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Vivid Seats Inc. Warrant's return on assets (ROA)?
Vivid Seats Inc. Warrant (SEATW) had a return on assets of 126.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Vivid Seats Inc. Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Vivid Seats Inc. Warrant (SEATW) held $102.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $91.6M over that year. Dividing the one by the other, the reported balance equals about 13 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Vivid Seats Inc. Warrant's debt-to-equity ratio negative or not reported?
Vivid Seats Inc. Warrant (SEATW) has negative shareholder equity of -$85.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Vivid Seats Inc. Warrant's Piotroski F-Score?
Vivid Seats Inc. Warrant (SEATW) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vivid Seats Inc. Warrant's earnings high quality?
For every $1 of reported earnings, Vivid Seats Inc. Warrant (SEATW) used $0.11 of operating cash (-$91.6M OCF vs $806.1M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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. Warrant?
Vivid Seats Inc. Warrant (SEATW) scores 19 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.