Vivid Seats reported fourth quarter 2025 results and outlined a strategic reset focused on product innovation, cost discipline and leadership changes. The company named Joe Thomas as CFO in January and Austin Arnett as General Counsel in December. Management achieved $60 million in annualised cost savings across marketing, G&A and stock-based compensation. The company also terminated its Tax Receivable Agreement and collapsed its dual-class share structure to reduce complexity. Fourth quarter marketplace gross order value fell to $581 million from $994 million year-over-year, pressured by industry-wide volume declines and the loss of a large private label customer in early Q3 2025. Vivid Seats launched a ChatGPT app to improve event discovery and capture consumer intent in real-time.

Vivid Seats, a US ticket marketplace, reported fourth quarter revenues of $126.8 million, down 37% from $199.8 million in Q4 2024. Marketplace gross order value fell 42% to $580.6 million. The company posted a net loss of $428.7 million, compared with a $4.4 million loss the previous year. For full year 2025, revenues declined 26% to $570.8 million, whilst marketplace GOV dropped 31% to $2,704.6 million. The company recorded a net loss of $721.5 million, versus net income of $14.3 million in 2024. Adjusted EBITDA fell to $41.8 million from $151.4 million. Chief executive Lawrence Fey cited improved momentum from enhanced app features and cost reduction initiatives. The company provided Q1 2026 guidance and reaffirmed its full-year outlook.