StubHub Holdings, Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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.
Mar 31, 2026 · Filed May 14, 2026
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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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $48,045 | $(22,183) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation | 2,215 | 597 |
| Amortization of intangible assets | 5,678 | 5,747 |
| Stock-based compensation | 31,006 | 5,494 |
| Amortization of debt issuance costs | 997 | 1,993 |
| Losses on derivatives | 2,873 | 2,339 |
| Amortization of unrealized losses on cash flow hedge | (7,166) | (1,819) |
| Unrealized foreign exchange (gains) losses | (21,709) | 27,674 |
| Deferred income taxes | (3,908) | (9,981) |
| Fair value change for preferred stocks and preferred stock bifurcated derivatives | (8,031) | 1,742 |
| Other | 532 | 3,452 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (2,782) | (1,243) |
| Inventory | 409 | (3,167) |
| Prepaid expenses and other current assets | (8,057) | (9,306) |
| Other non-current assets | 301 | (6,517) |
| Operating lease right-of-use assets | 1,164 | 1,029 |
| Accounts payable | (4,443) | (73,990) |
| Payments due to buyers and sellers | 273,649 | 191,552 |
| Accrued expenses and other current liabilities | (20,397) | 21,818 |
| Other non-current liabilities | 9,220 | 23,774 |
| Operating lease liabilities | (1,180) | (684) |
| Net cash provided by operating activities | 298,416 | 158,321 |
| Cash flows from investing activities: | ||
| Capitalized software development costs | (7,629) | (6,229) |
| Purchases of property and equipment | (169) | (507) |
| Purchases of intangible assets | (44) | (475) |
| Net cash used in investing activities | (7,842) | (7,211) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Class A common stock upon exercise of stock options and warrants | 32 | 33 |
| Repurchase and retirement of Class A common stock | — | (1,000) |
| Repayment of long-term debt obligations | — | (4,882) |
| Payment of tax withholding obligations on vested equity awards | (2,608) | — |
| Payments of deferred offering costs | (2,055) | — |
| Net cash used in financing activities | (4,631) | (5,849) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (1,506) | 4,255 |
| Net increase in cash, cash equivalents, and restricted cash | 284,437 | 149,516 |
| Cash, cash equivalents, and restricted cash at beginning of period | 1,259,129 | 1,015,911 |
| Cash, cash equivalents, and restricted cash at end of period | $1,543,566 | $1,165,427 |
STUBHUB HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - continued
(In thousands)
(Unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: | ||
| Cash and cash equivalents | $1,526,237 | $1,150,071 |
| Restricted cash in prepaid expenses and other current assets | — | 324 |
| Restricted cash | 17,329 | 15,032 |
| Total cash, cash equivalents, and restricted cash | $1,543,566 | $1,165,427 |
| Supplemental cash flow information | ||
| Cash paid for: | ||
| Interest | $31,013 | $52,754 |
| Non-cash investing and financing activities: | ||
| Stock-based compensation capitalized in development of capitalized software | $6,723 | $183 |
| Deferred offering costs accrued, unpaid | $352 | $7,099 |
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