Vivid Seats (SEAT) Q2 2026 Earnings Call Transcript

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DATE

Tuesday, Aug. 4, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• General Counsel - Austin Arnett

• Chief Executive Officer - Larry Fey

• Chief Financial Officer - Joe Thomas

Full Conference Call Transcript

Operator: Good morning, and invited to Vivid Seats' Second Quarter 2026 Earnings Conference Call. Following management's prepared remarks, we volition unfastened the telephone for Q&A. I would present similar to crook the telephone implicit to Austin Arnett.

Austin Arnett: Good morning, and invited to Vivid Seats' Second Quarter 2026 Earnings Conference Call. I americium Austin Arnett, Vivid Seats' General Counsel. I'm joined contiguous by Larry Fey, Chief Executive Officer, and Joe Thomas, Chief Financial Officer. By now, everyone should person entree to the net property merchandise we issued earlier this morning. The merchandise and supplemental net slides are disposable connected our Investor Relations website. Today's telephone volition see forward-looking statements wrong the meaning of national securities laws. These statements are taxable to risks that could origin existent results to disagree materially, including those discussed successful our net release, astir caller yearly study connected Form 10-K, and consequent filings with the SEC.

Today's telephone volition besides see references to adjusted EBITDA, a non-GAAP fiscal measure. To the grade reasonably available, a reconciliation of adjusted EBITDA to nett income oregon loss, its astir straight comparable GAAP fiscal measure, tin beryllium recovered successful our net merchandise and supplemental net slides. And present I'll crook the telephone implicit to Larry.

Lawrence Fey: Good morning, everyone, and convey you for joining america today. Two quarters into the year, we are encouraged by the advancement we person made and judge our strategical actions are delivering measurable results. Our 2nd 4th results exceeded expectations arsenic we delivered sequential quarterly maturation crossed GOV, revenue, and adjusted EBITDA. Q2 benefited from bonzer request surrounding the FIFA World Cup with user engagement and transaction enactment good supra emblematic seasonal levels. Last quarter, we said that we expected the World Cup to make request determination betwixt an A-List performance circuit and Taylor Swift's record-breaking Eras Tour. The accidental proved adjacent much significant.

The measurement of enactment was comparable to the full Eras Tour, but mostly concentrated into the 2nd 4th alternatively than dispersed crossed 2 years. We successfully capitalized connected the World Cup accidental done our unsocial lawsuit worth proposition that is led by our lowest terms warrant and Vivid Seats Rewards Program. Perhaps much importantly, we met lawsuit expectations passim the tourney with a continued absorption connected operational excellence centered astir a large lawsuit experience. Customer accent levels were understandably elevated fixed the precocious terms points and once-in-a-lifetime quality of World Cup matches. While the lawsuit organizers' recently implemented ticketing strategy introduced operational complexity, we maintained a greater than 99.7% palmy fulfillment complaint for World Cup orders sold done our marketplace.