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$5.65-3.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Comprehensive Income (loss)

(In thousands)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Net loss	$(1,294,609)	$(33,012)	$(1,370,621)	$(56,990)
Other comprehensive income (loss):
Foreign currency translation adjustments	(284)	(522)	580	(100)
Unrealized loss on cash flow hedge, net of tax benefit (expense) of $8,038, $(12,429), $16,765 and $(11,581), respectively	(21,206)	(36,064)	(48,204)	(33,593)
Total other comprehensive loss	(21,490)	(36,586)	(47,624)	(33,693)
Comprehensive loss	$(1,316,099)	$(69,598)	$(1,418,245)	$(90,683)

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE PREFERRED STOCK, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ EQUITY

(In thousands, except share data)

Redeemable Preferred Stock · Redeemable Common Stock · Common Stock · Additional Paid in Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Total Stockholders’ Equity
Shares · Amount · Shares · Amount · Shares · Amount
Balance as of December 31, 2023	510,000	$474,920	1,500,000	$23,751	302,478,046	$302	$2,235,891	$155,897	$(1,501,869)	$890,221
Net loss	—	—	—	—	—	—	—	—	(16,058)	(16,058)
Other comprehensive income, net of tax	—	—	—	—	—	—	—	8,470	—	8,470
Issuance of Class A common stock upon exercise of stock options	—	—	—	—	362,785	1	1,120	—	—	1,121
Stock-based compensation	—	—	—	—	—	—	1,204	—	—	1,204
Reclassification of liability-classified awards to equity-classified awards	—	—	—	—	—	—	10,183	—	—	10,183
Reclassification of redeemable common stock to common stock	—	—	(303,880)	(6,877)	303,880	—	6,877	—	—	6,877
Reclassification of common stock to redeemable common stock	—	—	276,845	727	(276,845)	—	(727)	—	—	(727)
Balance as of March 31, 2024	510,000	$474,920	1,472,965	$17,601	302,867,866	$303	$2,254,548	$164,367	$(1,517,927)	$901,291
Net loss	—	—	—	—	—	—	—	—	(7,920)	(7,920)
Other comprehensive income, net of tax	—	—	—	—	—	—	—	(5,577)	—	(5,577)
Issuance of Class A common stock upon exercise of stock options	—	—	—	—	4,500	—	2	—	—	2
Stock-based compensation	—	—	—	—	—	—	1,563	—	—	1,563
Balance as of June 30, 2024	510,000	$474,920	1,472,965	$17,601	302,872,366	$303	$2,256,113	$158,790	$(1,525,847)	$889,359
Net loss	—	—	—	—	—	—	—	—	(33,012)	(33,012)
Other comprehensive loss, net of tax	—	—	—	—	—	—	—	(36,586)	—	(36,586)
Stock-based compensation	—	—	—	—	—	—	1,314	—	—	1,314
Reclassification of common stock to redeemable common stock	—	—	—	5,145	—	—	(5,145)	—	—	(5,145)
Balance as of September 30, 2024	510,000	$474,920	1,472,965	$22,746	302,872,366	$303	$2,252,282	$122,204	$(1,558,859)	$815,930

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE PREFERRED STOCK, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ EQUITY - continued

(In thousands, except share data)

Redeemable Preferred Stock · Redeemable Common Stock · Common Stock · Additional Paid in Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Total Stockholders’ Equity
Shares · Amount · Shares · Amount · Shares · Amount
Balance as of December 31, 2024	510,000	$474,920	1,472,965	$22,258	302,951,406	$303	$2,255,500	$129,430	$(1,504,669)	$880,564
Net loss	—	—	—	—	—	—	—	—	(22,183)	(22,183)
Other comprehensive loss, net of tax	—	—	—	—	—	—	—	(15,741)	—	(15,741)
Issuance of Class A common stock upon exercise of stock options and warrants	—	—	—	—	337,100	—	33	—	—	33
Repurchase and retirement of Class A common stock	—	—	—	—	(25,915)	—	(1,000)	—	—	(1,000)
Stock-based compensation	—	—	—	—	—	—	5,605	—	—	5,605
Reclassification of liability-classified awards to equity-classified awards	—	—	—	—	—	—	15,971	—	—	15,971
Balance as of March 31, 2025	510,000	$474,920	1,472,965	$22,258	303,262,591	$303	$2,276,109	$113,689	$(1,526,852)	$863,249
Net loss	—	—	—	—	—	—	—	—	(53,829)	(53,829)
Other comprehensive loss, net of tax	—	—	—	—	—	—	—	(10,393)	—	(10,393)
Issuance of Class A common stock upon exercise of stock options and warrants	—	—	—	—	37,500	—	20	—	—	20
Issuance of Series N redeemable preferred stock, net of issuance cost	50,000	49,949	—	—	—	—	—	—	—	—
Issuance of Series O redeemable preferred stock, net of issuance cost	30,475	30,475	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	—	—	—	—	2,140	—	—	2,140
Reclassification of common stock to redeemable common stock	—	—	70,860	1,043	(70,860)	—	(1,043)	—	—	(1,043)
Balance as of June 30, 2025	590,475	$555,344	1,543,825	$23,301	303,229,231	$303	$2,277,226	$103,296	$(1,580,681)	$800,144
Net loss	—	—	—	—	—	—	—	—	(1,294,609)	(1,294,609)
Other comprehensive loss, net of tax	—	—	—	—	—	—	—	(21,490)	—	(21,490)

Redeemable Preferred Stock · Redeemable Common Stock · Common Stock · Additional Paid in Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Total Stockholders’ Equity
Shares · Amount · Shares · Amount · Shares · Amount
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs	—	—	—	—	34,042,553	34	738,588	—	—	738,622
Issuance of Class A common stock upon exercise of stock options and warrants	—	—	—	—	10,000	—	6	—	—	6
Issuance of Series O redeemable preferred stock, net of issuance cost	224,418	223,441	—	—	—	—	—	—	—	—
Reclassification of embedded derivative from liability-classified to equity-classified	—	(188)	—	—	—	—	16,714	—	—	16,714
Accretion of redeemable preferred stock to redemption value	—	—	—	—	—	—	(8,757)	—	—	(8,757)
Conversion of Series I redeemable preferred stock to Class A common stock	(20,000)	(20,570)	—	—	1,386,615	1	32,585	—	—	32,586
Conversion of Series J redeemable preferred stock to Class A common stock	—	—	—	—	2,044,729	2	48,049	—	—	48,051
Stock-based compensation	—	—	—	—	—	—	1,429,646	—	—	1,429,646
Issuance of common stock for contract incentive	—	—	—	—	337,444	—	7,930	—	—	7,930
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings on settlement	—	—	—	—	2,892,991	3	(81,610)	—	—	(81,607)
Reclassification of liability-classified awards to equity-classified awards	—	—	—	—	—	—	2,394	—	—	2,394
Reclassification of redeemable common stock to common stock	—	—	(1,543,825)	(23,301)	1,543,825	2	23,299	—	—	23,301
Balance as of September 30, 2025	794,893	$758,027	—	$—	345,487,388	$345	$4,486,070	$81,806	$(2,875,290)	$1,692,931

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.