Vivid Seats Q3 2025: Net loss of $19.7M, revenue -27% YoY; CEO transition, 2026 outlook

Vivid Seats Inc.

Marketplace GOV $618.1M (-29% YoY); revenue $136.4M (-27% YoY); net loss $19.7M vs net income $9.2M in Q3 2024.
Adjusted EBITDA $4.9M vs $34.1M in Q3 2024, down $29.2M.
Lawrence Fey appointed CEO effective Nov 3; Stanley Chia steps down; Edward Pickus interim CFO.
Completed corporate simplification: single class stock, TRA termination, expects up to $180M lifetime tax savings.
2026 initial outlook: Marketplace GOV $2.2-2.6B, Adjusted EBITDA $30-40M; cost savings target doubled to $60M.

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