Vivid Seats Inc - SEATW STOCK NEWS

Vivid Seats (NASDAQ: SEAT) has released its inaugural Environmental, Social, and Governance (ESG) update, showcasing its commitment to responsible business practices. CEO Stan Chia emphasized the company's dedication to sustainability and ethical operations. Key initiatives include a focus on diversity and inclusion with a majority diverse leadership, community investments supporting organizations like Make-A-Wish, and a commitment to environmental sustainability that achieved a 54% reduction in single-use waste in 2022. The update highlights Vivid Seats' efforts in ensuring security and safety through robust policies and fraud detection measures.

Vivid Seats Inc. reported a strong financial performance for the full year 2022, achieving a Marketplace Gross Order Value (GOV) of $3.2 billion and revenues of $600 million, both up over 30% compared to 2021. The fourth quarter saw a GOV of $846 million, a slight decline from the previous year, but revenues increased by 1%. Notably, net income surged to $24.8 million, marking a 7565% increase. Despite competitive pressures, the company delivered Adjusted EBITDA of $33.7 million, a 22% rise. For 2023, Vivid Seats expects a GOV between $3.0 billion and $3.3 billion, and revenues between $580 million and $610 million.

Vivid Seats Inc. (NASDAQ:SEAT) will report its Q4 and full year 2022 financial results on March 7, 2023, before the U.S. stock market opens. A management discussion of these results is scheduled for 8:30 a.m. ET that day. Vivid Seats, a premier online ticket marketplace established in 2001, connects buyers with ticket sellers for numerous live events. The company also offers a rewards program to enhance customer value and has gained recognition in customer service.

Vivid Seats (NASDAQ: SEAT) and Hopper released a report on travel trends and ticket pricing for the Big Game. Vivid Seats predicts a 62% crowd advantage for the Philadelphia Eagles over the Kansas City Chiefs, with average ticket prices at $6,434. The best entry ticket is priced at $4,438. In terms of travel, round-trip airfare is averaging $491, with Philadelphia's tickets at $693 and Kansas City's at $478. Hotel rates in Phoenix are around $600 per night. Following playoff games, flight searches surged by 169% from Philadelphia and 61% from Kansas City, indicating strong demand.

Vivid Seats Inc. (NASDAQ: SEAT) has officially opened its new corporate headquarters in Chicago's historic Marshall Field building, marking a significant investment in its workforce and the local tech sector. The renovated 48,000 square foot space features collaborative workspaces and modern amenities, reflecting Vivid Seats' focus on innovation. The company has achieved record revenues since entering public markets and earned accolades for workplace culture. Leaders express pride in the investment, highlighting the company's potential for continued growth within Chicago's tech landscape.

Vivid Seats Inc. (NASDAQ: SEAT) released its annual "Year in Live Events" report, highlighting Harry Styles as Artist of the Year and Kevin Hart as Comedian of the Year. The report showcases ticket sales data from 2022, awarding the Niners Nation Fanbase of the Year for its passionate support during the NFL season. Additionally, Vivid Seats predicts top entertainment cities for 2023, naming Denver for sports, Austin for music, Boston for theater, and Las Vegas for comedy. The report emphasizes the resurgence of live events, showing growing fan engagement across genres.

Vivid Seats has announced significant upcoming presentations by its leadership. Chief Financial Officer Larry Fey will present at the RBC Capital Markets Global Technology Conference on November 15, 2022, at 12:50 p.m. ET. Meanwhile, Chief Executive Officer Stan Chia will present at the Credit Suisse Annual Technology Conference on November 30, 2022, at 4:20 p.m. ET. Both presentations will be accessible via live webcasts on the Vivid Seats Investor Relations website.

Vivid Seats reported strong Q3 2022 results with Marketplace GOV reaching $781.8 million, a 10% increase from Q3 2021, and revenues of $156.8 million, up 12%. The company generated a net income of $18.7 million, a significant turnaround from a net loss in the previous year. Adjusted EBITDA, however, declined by 33% to $28.3 million. Vivid Seats raised its guidance for Marketplace GOV and revenues for the year, projecting them to range from $3.05 billion to $3.20 billion and $580 million to $595 million, respectively.

Vivid Seats Inc. (NASDAQ:SEAT) will announce its third quarter 2022 financial results on November 8, 2022, before the market opens. A management webcast is scheduled for 8:30 a.m. ET on that day. The company continues its commitment to connecting fans with live events through its technology platform, emphasizing its extensive selection of tickets and its Vivid Seats Rewards program, which incentivizes purchases. The report will provide insights into the company's financial health and performance in a competitive ticketing industry.