StubHub FY2025 GMS $9.2B (+6%); guides FY2026 GMS $9.9B-$10.1B & Adj. EBITDA $400M-$420M

StubHub Holdings, Inc.

FY2025 GMS $9.2B (+6%; +18% underlying ex-Taylor Swift); revenue $1.7B.
FY2025 net loss $1.9B; includes $1.4B stock-based comp and $479M non-cash valuation allowance.
Q4 2025 GMS $2.3B; revenue $449M; Adj. EBITDA $63M (14% margin); net loss $535M.
FY2026 guidance: GMS $9.9B-$10.1B; Adj. EBITDA $400M-$420M (~72% growth).
Reduced debt ~$900M in 2025; lock-up restrictions expire March 6, 2026.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

StubHub Holdings, Inc. reported Full year ended December 31, 2025 results: revenue $1.7 billion, net income Net loss of $1.9 billion.

Period: Full year ended December 31, 2025
Revenue: $1.7 billion
Net income: Net loss of $1.9 billion
Result: reported results

Exact text from the filing

Revenue of $1.7 billion, equal to 19% of GMS.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

StubHub Holdings, Inc. reported Fourth quarter ended December 31, 2025 results: revenue $449 million, net income Net loss of $535 million.

Period: Fourth quarter ended December 31, 2025
Revenue: $449 million
Net income: Net loss of $535 million
Result: reported results

Exact text from the filing

• Revenue of $449 million equal to 19% of GMS. • Net loss of $535 million inclusive of $479 million of non-recurring, non-cash valuation allowance expense.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

StubHub Holdings, Inc. updated its Full year 2026 guidance (initiated).

Period: Full year 2026
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company is providing full year 2026 guidance. The Company expects 2026 GMS of $9.9 billion to $10.1 billion and 2026 Adjusted EBITDA 2 of $400 million to $420 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

StubHub Holdings, Inc. reported quarter and full year ended December 31, 2025 results: revenue $449 million, net income Net loss of $535 million.

Period: quarter and full year ended December 31, 2025
Revenue: $449 million
Net income: Net loss of $535 million
Result: reported results

Exact text from the filing

2025 Highlights • Gross Merchandise Sales (“GMS”) 1 of $2.3 billion, with underlying growth of 6% excluding the prior-year impact of the Taylor Swift’s “Eras” Tour. • Revenue of $449 million equal to 19% of GMS. • Net loss of $535 million inclusive of $479 million of non-recurring, non-cash valuation allowance expense. • Adjusted EBITDA 1 of $63 million, representing

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StubHub Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-26-014651

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