Vivid Seats faces mounting challenges as losses soar. The ticket reseller reported a net loss of $428.7 million in Q4 2025, a dramatic increase from $4.4 million in the same period last year. Gross order value declined 42% year-over-year while revenues dropped 37%. Despite these headwinds, CEO Lawrence Fey emphasized the company's cost reduction strategy, targeting over $60 million in annualized savings. Looking ahead, Vivid Seats projects 2026 marketplace GOV between $2.2 billion and $2.6 billion, down from $2.7 billion in 2025, with adjusted EBITDA expected between $30 million and $40 million. The company is banking on its enhanced app value proposition and Lowest Price Guarantee to drive growth, with app orders reaching 37% of GOV in Q4, the highest level in company history. This restructuring comes as Vivid Seats previously explored strategic options including a potential sale.
