Growth & profitability
- Revenue has grown 80.9% per year over the past 5 years.
Financial health
- Total debt ($383M) exceeds cash ($103M); net debt is $281M.
- Total debt has grown slower than revenue (-15.1% vs 80.9% per year).
SEAT Financials Vivid Seats Inc.
7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $451M | $806M | 0.0% | 0.0% | -$94M | $383M | $103M |
| 2024 | $648M | $13M | 0.0% | 0.0% | $50M | $385M | $243M |
| 2023 | $597M | $69M | 0.0% | 0.0% | $146M | $265M | $125M |
| 2022 | $511M | $71M | 0.0% | 0.0% | $11M | $265M | $252M |
| 2021 | $390M | -$5M | 0.0% | 0.0% | $175M | $460M | $490M |
| 2020 | $23M | — | 0.0% | 0.0% | -$34M | $871M | — |
| 2019 | $404M | — | 0.0% | 0.0% | $75M | — | — |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $98M | -$15M | 0.0% | 0.0% | $46M | $383M | $144M |
| Dec '25 | $97M | -$429M | 0.0% | 0.0% | -$38M | $383M | $103M |
| Sep '25 | $105M | -$20M | 0.0% | 0.0% | $502000 | $384M | $145M |
| Jun '25 | $114M | -$263M | 0.0% | 0.0% | -$29M | $385M | $153M |
| Mar '25 | $134M | -$10M | 0.0% | 0.0% | -$27M | $386M | $199M |
| Dec '24 | $165M | -$4M | 0.0% | 0.0% | $44M | $385M | $243M |
| Sep '24 | $153M | $9M | 0.0% | 0.0% | -$20M | $386M | $202M |
| Jun '24 | $170M | -$1M | 0.0% | 0.0% | -$14M | $387M | $234M |
| Mar '24 | $160M | $11M | 0.0% | 0.0% | $39M | $264M | $154M |
| Dec '23 | $167M | — | 0.0% | 0.0% | $33M | $265M | $125M |
| Sep '23 | $154M | $18M | 0.0% | 0.0% | $32M | $266M | $269M |
| Jun '23 | $139M | $14M | 0.0% | 0.0% | $17M | $264M | $306M |
| Mar '23 | $137M | $30M | 0.0% | 0.0% | $65M | $264M | $303M |
| Dec '22 | $140M | -$17M | 0.0% | 0.0% | $12M | $265M | $252M |
| Sep '22 | $131M | $19M | 0.0% | 16.6% | -$1M | $265M | $274M |
| Jun '22 | $130M | $24M | 0.0% | 13.8% | -$23M | $266M | $288M |
| Mar '22 | $111M | $3M | 0.0% | 12.4% | $23M | $266M | $314M |
| Dec '21 | $143M | $324000 | 0.0% | 0.0% | -$40M | $460M | $490M |
| Sep '21 | $120M | -$2M | 0.0% | 12.8% | $32M | — | — |
| Jun '21 | $105M | $3M | 0.0% | 18.6% | $152M | — | — |
Valuation over time
How the market has priced SEAT against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 1.2× (Mar '23) to 6.3× (Nov '25).
- The price-to-sales ratio has fallen from 0.2× (Mar '23) to 0.2× (Jun '26).
P/E
P/S
Frequently asked questions
Is SEAT growing its revenue and profit?
Over the past 5 years, Vivid Seats Inc.'s revenue has grown 80.9% per year. These are computed facts, not advice.
How much debt does SEAT have?
As of FY2025, Vivid Seats Inc. reported $383M of total debt against $103M of cash.
What is SEAT's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 178.9%.
What is SEAT's P/E ratio?
As of Jun '26, Vivid Seats Inc. traded at a price-to-earnings ratio of about 6.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.