earnings
confidence high
sentiment positive
materiality 0.80
StubHub Q3: GMS $2.4B (+11% YoY), Adj. EBITDA $67M (+21%), net loss $1.3B on IPO charge
StubHub Holdings, Inc.
2025-Q3 EPS
reported -$4.71
vs consensus -$2.95
▼ miss
(-59.6%)
- GMS $2.4B, up 11% YoY; excluding Taylor Swift Eras Tour, GMS grew 24%.
- Revenue $468M (+8% YoY); net loss $1.3B includes $1.4B one-time stock-based comp from IPO.
- Adjusted EBITDA $67M (+21%), margin 14%.
- IPO in Sept raised ~$1B gross; repaid $750M debt; Net Leverage 3.9x TTM Adj. EBITDA.
- Multi-year partnership with MLB for Direct Issuance ticketing starting 2026.