Vivid Seats Inc
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
SEAT$2.09-23.7%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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FINANCIAL INFORMATION Financial Statements (Unaudited)Condensed Consolidated Balance Sheets
| Current assets: | ||
|---|---|---|
| Cash and cash equivalents | $234,289 | $125,484 |
| Restricted cash | 6,136 | 6,950 |
| Accounts receivable – net | 68,628 | 58,481 |
| Inventory – net | 30,249 | 21,018 |
| Prepaid expenses and other current assets | 31,519 | 34,061 |
| Total current assets | 370,821 | 245,994 |
| Property and equipment – net | 9,663 | 10,156 |
| Right-of-use assets – net | 9,692 | 9,826 |
| Intangible assets – net | 227,054 | 241,155 |
| Goodwill | 941,507 | 947,359 |
| Deferred tax assets | 85,073 | 85,564 |
| Investments | 7,245 | 6,993 |
| Other non-current assets | 3,647 | 3,052 |
| Total assets | $1,654,702 | $1,550,099 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable | $266,502 | $257,514 |
| Accrued expenses and other current liabilities | 168,983 | 191,642 |
| Deferred revenue | 30,173 | 34,674 |
| Current maturities of long-term debt | 3,950 | 3,933 |
| Total current liabilities | 469,608 | 487,763 |
| Long-term debt – net | 386,506 | 264,632 |
| Long-term lease liabilities | 16,104 | 16,215 |
| TRA liability | 162,233 | 165,699 |
| Other liabilities | 26,146 | 29,031 |
| Total long-term liabilities | 590,989 | 475,577 |
| Commitments and contingencies (Note 15) | ||
| Redeemable noncontrolling interests | 438,294 | 481,742 |
| Shareholders' equity | ||
| Class A common stock, $0.0001 par value; 500,000,000 shares authorized, 142,554,703 and 141,167,311 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively | 14 | 14 |
| Class B common stock, $0.0001 par value; 250,000,000 shares authorized, 76,225,000 issued and outstanding at June 30, 2024 and December 31, 2023 | 8 | 8 |
| Additional paid-in capital | 1,164,240 | 1,096,430 |
| Treasury stock, at cost, 10,750,153 and 7,291,497 shares at June 30, 2024 and December 31, 2023, respectively | (72,655) | (52,586) |
| Accumulated deficit | (934,580) | (939,596) |
| Accumulated other comprehensive income (loss) | (1,216) | 747 |
| Total Shareholders' equity | 155,811 | 105,017 |
| Total liabilities, Redeemable noncontrolling interests, and Shareholders' equity | $1,654,702 | $1,550,099 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data) (Unaudited)
| Three Months Ended June 30, · Six Months Ended June 30, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2024 · 2023 | |||||
| Revenues | $198,316 | $165,380 | $389,168 | $326,443 | |
| Costs and expenses: | |||||
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | 48,765 | 42,616 | 98,348 | 80,376 | |
| Marketing and selling | 70,114 | 65,192 | 137,861 | 119,964 | |
| General and administrative | 61,053 | 38,307 | 103,420 | 70,696 | |
| Depreciation and amortization | 10,502 | 2,704 | 20,985 | 5,302 | |
| Change in fair value of contingent consideration | — | (1,052) | — | (1,018) | |
| Income from operations | 7,882 | 17,613 | 28,554 | 51,123 | |
| Other expense: | - | ||||
| Interest expense – net | 5,324 | 2,772 | 10,406 | 6,052 | |
| Other expense | 3,202 | 1,000 | 5,784 | 673 | |
| Income (loss) before income taxes | (644) | 13,841 | 12,364 | 44,398 | |
| Income tax expense (benefit) | 577 | (24,485) | 2,846 | (24,200) | |
| Net income (loss) | (1,221) | 38,326 | 9,518 | 68,598 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.