StubHub Holdings, Inc.

For the period ended Sep 30, 2025. Filed Nov 14, 2025.

About 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.

Sep 30, 2025 · Filed Nov 14, 2025

STUB$5.85-4.7%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

(In thousands, except share and per share data)

September 30, · December 31,
2025 · 2024
Assets
Current assets:
Cash and cash equivalents		$1,392,458		$1,000,965
Accounts receivable		6,205		5,473
Inventory		2,004		16,145
Prepaid expenses and other current assets	(Note 4)	39,425		28,772
Total current assets		1,440,092		1,051,355
Non-current assets:
Property and equipment, net	(Note 5)	58,269		6,514
Trademarks and trade names	(Note 6)	864,800		864,800
Other intangible assets, net	(Note 6)	43,715		59,855
Goodwill		2,686,701		2,686,701
Restricted cash		16,593		14,634
Deferred tax assets	(Note 16)	401,163		248,482
Other non-current assets	(Note 7)	89,447		161,244
Total assets		$5,600,780		$5,093,585
Liabilities, Redeemable Preferred Stock, Redeemable Common Stock, and Stockholders’ Equity
Current liabilities:
Accounts payable		$66,924		$112,633
Payments due to buyers and sellers		865,826		706,783
Accrued expenses and other current liabilities (including $22,272 and $0 under the fair value option, respectively)	(Note 8)	333,550		269,104
Long-term debt obligations, current	(Note 9)	—		19,526
Total current liabilities		1,266,300		1,108,046
Non-current liabilities:
Long-term debt obligations, non-current	(Note 9)	1,652,858		2,311,981
Other non-current liabilities (including $0 and $70,397 under the fair value option, respectively)	(Note 10)	230,664		295,816
Total liabilities		3,149,822		3,715,843
Commitments and contingencies	(Note 12)
Redeemable preferred stock, $0.001 par value; 100,000,000 and 28,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 794,893 and 510,000 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; aggregate liquidation preference of $1,013,637 and $665,561 as of September 30, 2025 and December 31, 2024, respectively	(Note 13)	$758,027		$474,920
Redeemable common stock, $0.001 par value; zero and 1,472,965 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	(Note 14)	—		22,258
Stockholders’ equity:
Class A common stock, $0.001 par value; 3,000,000,000 and 365,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 320,737,388 and 273,872,642 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		$320		$274
Class B common stock, $0.001 par value; 200,000,000 and 50,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 24,750,000 shares issued and outstanding as of September 30, 2025 and December 31, 2024		25		25
Class C common stock, $0.001 par value; zero and 16,077,175 shares authorized as of September 30, 2025 and December 31, 2024; zero and 4,328,764 shares issued and outstanding as of September 30, 2025 and December 31, 2024		—		4
Additional paid-in capital		4,486,070		2,255,500
Accumulated other comprehensive income		81,806		129,430
Accumulated deficit		(2,875,290)		(1,504,669)
Total stockholders’ equity		1,692,931		880,564
Total liabilities, redeemable preferred stock, redeemable common stock, and stockholders’ equity	$5,600,780		$5,093,585

ContentsView on SEC.gov

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