Vivid Seats Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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.
Sep 30, 2025 · Filed Nov 6, 2025
SEAT$1.49-1.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Cash flows from operating activities | ||
|---|---|---|
| Net income (loss) | $(292,828) | $18,716 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 37,689 | 31,654 |
| Amortization of leases | 1,165 | 1,379 |
| Amortization of deferred financing costs | 735 | 718 |
| Equity-based compensation | 33,886 | 38,284 |
| Change in fair value of Intermediate Warrants | (5,713) | (5,713) |
| Loss on asset disposals | 380 | 160 |
| Change in fair value of derivative asset | 841 | 537 |
| Deferred income tax expense | 76,786 | 3,378 |
| Non-cash interest expense (income) – net | 499 | (442) |
| Foreign currency loss (gain) – net | (2,363) | 266 |
| Loss on extinguishment of debt | 801 | — |
| Adjustment of liabilities under TRA | (149,787) | — |
| Impairment charges | 320,449 | — |
| Write-off of 2024 Sponsorship Loan | 2,024 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable – net | 10,027 | (6,879) |
| Inventory – net | (3,967) | (1,234) |
| Prepaid expenses and other current assets | 6,254 | 4,164 |
| Accounts payable | (34,242) | (33,113) |
| Accrued expenses and other current liabilities | (39,611) | (35,140) |
| Deferred revenue | (5,681) | (10,042) |
| Long-term lease liabilities | (1,731) | — |
| Other assets and liabilities – net | (9,009) | (558) |
| Net cash provided by (used in) operating activities | (53,396) | 6,135 |
| Cash flows from investing activities | ||
| Disbursement of 2024 Sponsorship Loan | — | (2,000) |
| Purchases of property and equipment | (2,053) | (767) |
| Purchases of personal seat licenses | (990) | (737) |
| Investments in developed technology | (12,533) | (14,334) |
| Purchases of seat images | (686) | — |
| Net cash used in investing activities | (16,262) | (17,838) |
| Cash flows from financing activities | ||
| Payments of 2022 First Lien Loan | — | (689) |
| Payments of Shoko Chukin Bank Loan | — | (2,655) |
| Proceeds from 2024 First Lien Loan | — | 125,500 |
| Repurchases of Class A common stock | (18,292) | (22,998) |
| Payments of taxes related to net settlement of equity incentive awards | (1,848) | (645) |
| Repurchase and retirement of fractional shares resulting from Reverse Stock Split | (5) | — |
| Tax distributions to redeemable noncontrolling interests | (1,689) | (9,253) |
| Payment of liabilities under TRA | (4,005) | (77) |
| Payment of deferred financing costs and other debt-related expenses | (162) | (315) |
| Payments of 2024 First Lien Loan | (76,986) | (987) |
| Proceeds from 2025 First Lien Loan | 76,986 | — |
| Payments of 2025 First Lien Loan | (1,964) | — |
| Payments toward Acquired Domain Name Obligation | (1,500) | — |
| Net cash provided by (used in) financing activities | (29,465) | 87,881 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 188 | (151) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (98,935) | 76,027 |
| Cash, cash equivalents, and restricted cash – beginning of period | 244,648 | 132,434 |
| Cash, cash equivalents, and restricted cash – end of period | $145,713 | $208,461 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest | $20,984 | $16,728 |
| Cash paid for income taxes | $5,259 | $5,144 |
| Cash paid for operating lease liabilities | $2,467 | $2,325 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $— | $935 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Supplemental disclosures of non-cash investing activities | ||
|---|---|---|
| Equity-based compensation expense related to capitalized development costs | $515 | $— |
| Excise taxes related to repurchases of Class A common stock recorded in Accrued expenses and other current liabilities | $29 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.