Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Vivid Seats Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
404
23.3
390
511
597
648
451
Pre-tax income
-53.8
-774
-18.8
69.2
70.9
22.7
-652
Income tax
0.3
-1.59
-42.2
8.42
69.4
Net income to minority interests
28.7
74.5
9.43
-429
Net income
-53.8
-774
-5.02
70.8
69.4
13.4
806
EPS, basic
16.08
EPS, diluted
5.15
1.12
Shares, basic (weighted)
4.63
Shares, diluted (weighted)
9.94
10.5
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
81.3
285
490
252
125
243
103
Receivables
36.1
36.5
58.5
48.3
30.7
Inventory
11.8
12.8
21
19.6
18.2
Other current assets
80.1
4.61
0.57
0.09
4.88
3.51
Total current assets
610
332
246
345
178
Property, plant and equipment
1.08
10.4
10.2
12.6
12.4
Lease right-of-use assets
0
7.86
9.83
12
10.5
Goodwill
718
715
947
943
284
Intangible assets
107
78.5
82
241
233
142
Total assets
1,409
1,151
1,550
1,636
637
Accounts payable
191
161
258
233
153
Accrued liabilities
281
182
192
126
126
Deferred revenue
6
25.1
32
34.7
23.8
20
Short-term debt
14.9
16.2
18.7
16.5
Total current liabilities
497
378
488
426
303
Long-term debt
0
14.9
16.2
18.7
16.5
Other non-current liabilities
25.8
13.4
29
36.9
18.8
Total liabilities
2,269
1,534
963
1,022
722
Total debt
871
460
265
265
385
383
Paid-in capital
182
664
1,096
1,268
1,368
Retained earnings
-1,043
-1,014
-940
-930
-1,359
Treasury stock
0
-32.5
-52.6
-75.6
-93.9
Other comprehensive income
0
0.75
-0.88
0.17
Shareholders' equity
-383
105
261
-85.1
Total equity
518
-272
-861
-383
105
261
-85.1
Total liabilities and equity
1,409
1,151
1,550
1,636
637
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-53.8
-774
-19.1
28.7
113
14.3
-721
Depreciation and amortization
93.1
48.2
2.32
7.73
17.2
44.2
49.4
Stock-based compensation
5.17
4.29
6.05
19.1
27.6
50.4
36.7
Deferred income tax
0
-1.85
-44.9
1.25
74.7
Change in receivables
0.23
-10.3
-0.87
-0.33
-17.1
9.78
17.5
Change in inventory
-1.63
4.09
-4.31
-1.01
-8.18
1.41
1.43
Change in payables
1.79
-28.7
128
-30.8
53.8
-23.7
-79.5
Cash from operations
76.5
-33.9
176
14.4
147
53.9
-91.6
Capital expenditures
-1.26
-0.34
-1.13
-3.56
-0.9
-4.23
-2.16
Acquisitions
-31.1
0
0.3
-0.01
Cash from investing
-40.2
-7.61
-9.35
-15.4
-226
-26.7
-20.2
Share buybacks
0
-32.5
-20.1
-23
-18.3
Cash from financing
-55.5
246
38
-236
-43.4
86.1
-29.4
Net change in cash
-19.1
204
204
-238
-120
112
-141
Free cash flow
75.2
-34.2
175
10.8
146
49.7
-93.8
Interest paid
38.7
34.6
72.7
14.8
19.3
19.5
27.7
Income taxes paid
0
0
4.02
5.47
6.37
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.70 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Net margin
278.1%
Net income / revenue.
FCF margin
1.8%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
1.9%
Cash from operations / revenue.
Return on assets (ROA)
163.0%
Net income / average total assets.
Stock-based pay / revenue
5.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.0%
Capital expenditures / revenue.
D&A / revenue
12.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-30.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-4.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
80.9%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
5,903.0%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
125.0%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-269.9%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-288.7%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-132.6%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-61.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-17.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.66x
Current assets / current liabilities.
Quick ratio
0.48x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.36x
(Cash + short-term investments) / current liabilities.
Debt / assets
55.4%
Total debt / total assets.
Liabilities / assets
115.3%
Total liabilities / total assets.
Net debt
$245.2M
Total debt - cash - short-term investments. Negative means more cash than debt.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
1.9%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
Buybacks / FCF
33.0%
Share buybacks / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$43.3M
Share price x shares outstanding.
Enterprise value
$288.5M
Market cap + total debt - cash - short-term investments.
P/E
0.04x
Market cap / net income. Only when net income is positive.
P/S
0.11x
Market cap / revenue.
P/FCF
5.88x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
5.76x
Market cap / cash from operations, when positive.
EV/Sales
0.71x
Enterprise value / revenue.
EV/FCF
39.1x
Enterprise value / free cash flow, when both are positive.
FCF yield
17.0%
Free cash flow / market cap.
Earnings yield
2,592.0%
Net income / market cap (the inverse of P/E).
Shareholder yield
5.6%
(Dividends paid + share buybacks) / market cap.
What was Vivid Seats Inc.'s revenue in fiscal 2025?
Vivid Seats Inc. reported revenue of $450.5M for fiscal 2025, 30.5% lower than the year before.
Was Vivid Seats Inc. profitable in fiscal 2025?
Yes. Net income was $806.1M, a net margin of 178.9%.
How much free cash flow did Vivid Seats Inc. generate in fiscal 2025?
Cash from operations of $91.6M minus capital expenditures of $2.2M left free cash flow of -$93.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.