Vivid Seats Q3 revenue down 1% to $186.6M, net income falls 43%; lowers 2024 guidance

Vivid Seats Inc.

Marketplace GOV $871.7M (-13% YoY); revenue $186.6M (-1% YoY).
GAAP net income $9.2M (-43%); adjusted EBITDA $34.1M (+2%).
Cancellations jumped to $35.4M in Q3 vs $10.1M a year ago, pressuring GOV.
CFO revises 2024 guidance citing concert supply headwinds and Q4 marketing intensity.
Skybox Drive exits beta with 100+ users; CEO expects industry growth acceleration in 2025.

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