Added to YB: 2025-09-24
Pitch date: 2025-08-04
SEAT [bearish]
Vivid Seats Inc.
+71.09%
current return
Author Info
No bio for this author
Company Info
Vivid Seats Inc. operates an online ticket marketplace in the United States, Canada, and Japan. It operates in two segments, Marketplace and Resale.
Market Cap
$103.8M
Pitch Price
$25.60
Price Target
N/A
Dividend
N/A
EV/EBITDA
23.12
P/E
-0.22
EV/Sales
0.66
Sector
Entertainment
Category
N/A
Vivid Seats Inc. - $SEAT
SEAT short: Secondary ticketing platform losing market share to StubHub/SeatGeek due to poor direct traffic & expensive customer acquisition. 50%+ GOV from white-label partners (low take rates) masking owned site weakness. Web traffic down across quarters, 1Q25 EBITDA -44% YoY. $692M EV vs est $70-80M 2025 EBITDA. Potential zero w/ $550M debt+TRA vs declining cash flows.
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