Vivid Seats Inc.
For the period ended Mar 31, 2025. Filed May 6, 2025.
View on SEC.govAbout this filing
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.
Mar 31, 2025 · Filed May 6, 2025
SEAT$1.51-27.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Equity
| Class A common stock · Class B common stock · Treasury stock | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Redeemable noncontrolling interests | Shares | Amount | Shares | Amount | Additional paid-in capital | Shares | Amount | Accumulated deficit | Accumulated other comprehensive income (loss) | Total shareholders' equity | |
| Balances at January 1, 2024 | $481,742 | 141,167,311 | $14 | 76,225,000 | $8 | $1,096,430 | (7,291,497) | $(52,586) | $(939,596) | $747 | $105,017 |
| Net income | 4,665 | — | — | — | — | — | — | — | 6,077 | — | 6,077 |
| Issuances of Class A common stock | — | 961,573 | — | — | — | — | — | — | — | — | — |
| Net settlement of equity incentive awards | — | (79,905) | — | — | — | (462) | — | — | — | — | (462) |
| Deemed contributions from former parent | 75 | — | — | — | — | 133 | — | — | — | — | 133 |
| Equity-based compensation | — | — | — | — | — | 8,439 | — | — | — | — | 8,439 |
| Repurchases of Class A common stock | — | — | — | — | — | — | (715,000) | (4,120) | — | — | (4,120) |
| Tax distributions to redeemable noncontrolling interests | (3,654) | — | — | — | — | — | — | — | — | — | — |
| Other comprehensive loss | (643) | — | — | — | — | — | — | — | — | (1,130) | (1,130) |
| Subsequent remeasurement of redeemable noncontrolling interests | (25,597) | — | — | — | — | 25,597 | — | — | — | — | 25,597 |
| Balances at March 31, 2024 | $456,588 | 142,048,979 | $14 | 76,225,000 | $8 | $1,130,137 | (8,006,497) | $(56,706) | $(933,519) | $(383) | $139,551 |
| Class A common stock · Class B common stock · Treasury stock | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Redeemable noncontrolling interests | Shares | Amount | Shares | Amount | Additional paid-in capital | Shares | Amount | Accumulated deficit | Accumulated other comprehensive loss | Total shareholders' equity | |
| Balances at January 1, 2025 | $352,922 | 143,819,497 | $14 | 76,225,000 | $8 | $1,267,710 | (11,433,749) | $(75,568) | $(930,171) | $(880) | $261,113 |
| Net loss | (3,846) | — | — | — | — | — | — | — | (5,942) | — | (5,942) |
| Issuances of Class A common stock | — | 2,729,928 | — | — | — | — | — | — | — | — | — |
| Equity-based compensation | — | — | — | — | — | 10,935 | — | — | — | — | 10,935 |
| Repurchases of Class A common stock | — | — | — | — | — | — | (2,378,514) | (6,917) | — | — | (6,917) |
| Tax distributions to redeemable noncontrolling interests | (1,689) | — | — | — | — | — | — | — | — | — | — |
| Other comprehensive income | 429 | — | — | — | — | — | — | — | — | 747 | 747 |
| Net settlement of equity incentive awards | — | (318,445) | — | — | — | (1,411) | — | — | — | — | (1,411) |
| Subsequent remeasurement of redeemable noncontrolling interests | (122,189) | — | — | — | — | 122,189 | — | — | — | — | 122,189 |
| Balances at March 31, 2025 | $225,627 | 146,230,980 | $14 | 76,225,000 | $8 | $1,399,423 | (13,812,263) | $(82,485) | $(936,113) | $(133) | $380,714 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income (loss) | $(9,788) | $10,742 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 11,625 | 10,483 |
| Amortization of leases | 324 | 412 |
| Amortization of deferred financing costs | 241 | 236 |
| Equity-based compensation | 10,751 | 8,488 |
| Change in fair value of warrants | (3,115) | (460) |
| Loss on asset disposals | 47 | 102 |
| Change in fair value of derivative asset | 350 | 37 |
| Deferred income tax expense (benefit) | (1,464) | 862 |
| Non-cash interest expense (income) – net | 173 | (142) |
| Unrealized foreign currency loss (gain) | (2,041) | 3,005 |
| Loss on extinguishment of debt | 801 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable – net | (8,367) | (11,448) |
| Inventory – net | (8,049) | (8,491) |
| Prepaid expenses and other current assets | (1,964) | (2,778) |
| Accounts payable | (6,943) | 50,493 |
| Accrued expenses and other current liabilities | (6,748) | (20,379) |
| Deferred revenue | (691) | (1,691) |
| Long-term lease liabilities | (560) | — |
| Other assets and liabilities – net | 130 | (306) |
| Net cash provided by (used in) operating activities | (25,288) | 39,165 |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (1,836) | (92) |
| Purchases of personal seat licenses | (563) | (564) |
| Investments in developed technology | (4,526) | (4,631) |
| Purchases of seat images | (146) | — |
| Payments of Acquired Domain Name Obligation | (500) | — |
| Net cash used in investing activities | (7,571) | (5,287) |
| Cash flows from financing activities | ||
| Payments of 2022 First Lien Loan | — | (688) |
| Payments of Shoko Chukin Bank Loan | — | (281) |
| Repurchases of Class A common stock | (5,992) | (3,105) |
| Payments of taxes related to net settlement of equity incentive awards | (1,411) | (462) |
| Payments of liabilities under TRA | (4,005) | (77) |
| Payments of 2024 First Lien Loan | (76,986) | — |
| Proceeds from 2025 First Lien Loan | 76,986 | — |
| Payments of deferred financing costs and other debt-related expenses | (162) | — |
| Net cash used in financing activities | (11,570) | (4,613) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 474 | (820) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (43,955) | 28,445 |
| Cash, cash equivalents, and restricted cash – beginning of period | 244,648 | 132,434 |
| Cash, cash equivalents, and restricted cash – end of period | $200,693 | $160,879 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $7,749 | $6,074 |
| Cash paid for income taxes | $1,286 | $623 |
| Cash paid for operating lease liabilities | $897 | $664 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.