---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-072769"
form_type: "8-K"
ticker: "STUB"
cik: "0001337634"
company_name: "StubHub Holdings, Inc."
filed_at: "2026-11-10T21:24:38+00:00"
generated_at: "2026-11-10T21:26:11.001315+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# StubHub Q3 revenue $502M, adjusted EBITDA $124M; raises FY GMS outlook; CFO James to exit

## Summary
- Q3 GMS $2.62B, up 7% YoY; revenue $502.0M vs $468.1M; net income $33.6M vs prior-year net loss of $1.2946B, which included $1.4052B stock comp.
- Adjusted EBITDA $124.1M, up 84% YoY; margin 25%, up 10 points; cash $1.2B; net leverage 2.5x vs 4.5x at Dec. 31, 2025.
- FY2026 outlook: GMS raised to $10.175B-$10.375B; adjusted EBITDA reiterated at $400M-$420M.
- Michael Noonan, Tripadvisor CFO, named StubHub CFO effective Jan. 4, 2027, succeeding Connie James; James to consult through June 30, 2027 for $71,506.85.
- Noonan package: at least $550K salary, $550K guaranteed bonus, $3M initial RSUs; James separation: $1M cash, $1.25M vested RSUs, 180,000 RSU transition bonus.

## SEC filing metadata
- accession: 0001628280-26-072769
- form_type: 8-K
- ticker: STUB
- cik: 0001337634
- company_name: StubHub Holdings, Inc.
- filed_at: 2026-11-10T21:24:38+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337634/000162828026072769/0001628280-26-072769-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337634/000162828026072769/stub-20261110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-072769
- JSON: https://secwatch.observer/filing/0001628280-26-072769.json
- Plain text: https://secwatch.observer/filing/0001628280-26-072769.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.