secwatch.observer — SEC 8-K summary
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Issuer:     StubHub Holdings, Inc. (STUB)
CIK:        0001337634
Form:       8-K
Filed at:   2026-11-10T21:24:38+00:00
Accession:  0001628280-26-072769
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337634/000162828026072769/0001628280-26-072769-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337634/000162828026072769/stub-20261110.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-072769

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer