Vivid Seats Q2 revenue down 28%; net loss $263.3M; launches $25M cost cuts

Vivid Seats Inc.

Revenue $143.6M, down 28% YoY; Marketplace GOV $685.5M, down 31%.
Net loss of $263.3M vs $1.2M loss in Q2 2024; Adj. EBITDA $14.4M vs $44.2M.
Announced $25M annualized cost reduction program, expected fully actioned by end of 2025.
1-for-20 reverse stock split effective 5:00 p.m. ET today; SEAT begins split-adjusted trading Aug 6.
No FY 2025 guidance provided; CEO cites pressure on consumer spending and competitive intensity.

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