Vivid Seats released financial details for the first quarter last week, indicating that it has caused significant losses due to the pandemic, but it shows people’s confidence that the situation is improving quickly. The company’s total orders for the first quarter of 2021 were US$116 million, a 71% decrease from the figure in the 2020s, but this is easily attributed to the fact that the first quarter of 2020 was basically unaffected by the COVID pandemic. The live events didn’t really end until early March. The company’s 2021 revenue also fell 65% year-on-year, and 2021 revenue was 24 million U.S. dollars. The company stated that as live events have been resold in current and upcoming events in 2021 and beyond, profitability in the quarter has been restored (based on EBITDA).

The Difference

“Vivid Seats benefited from the return of fans to the stands in the first quarter of 2021, especially in the sports sector,” said CEO Stan Chia. “Fans are eager to have the opportunity to see their favorite sports events, concerts and musicals. As events resume, they also seized the opportunity to book tickets.” Due to the recent collaboration with Horizon Acquisition Corporation (HZAC) an agreement was reached and the company released financial data publicly for the first time.

The complete version of Vivid Seats released financial details include: Vivid Seats announces the first quarter of the 2021 update. Vivid Seats Inc. (“Vivid Seats” or “Company”) is a leading market that uses its powerful technology platform to connect millions of fans. The company’s total market order value (“GOV”) for the first quarter of 2021 was $116 million and revenue was $24 million. These figures represent a year-on-year decline of 71% and 65%, respectively, as the first quarter of 2020 was not affected by the COVID-19 pandemic until mid-March. Vivid Seats will return to profitability based on EBITDA in the first quarter of 2021, with an adjusted EBITDA of $4 million.

Adjusted EBITDA

The company has filed a Form S-4 registration statement (“Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”), which includes a preliminary power of attorney/prospectus. Investors can listen to a conference call regarding business and financial updates for the first quarter of 2021 on Friday, May 28, 2021, at 8 am Eastern Time. The phone can be accessed by visiting the website of Horizon Acquisition Corporation https://www.horizo​​nacquisitioncorp.com/. Adjusted EBITDA is a non-GAAP metric often used by research analysts, investors, and other stakeholders to evaluate companies. Vivid Seats believes that this measure helps to highlight trends in its operational performance because it excludes the impact of projects that are not under management’s control or that cannot reflect its continued operations and performance.

Adjusted EBITDA is a measure not defined under GAAP. It has limitations because it does not include certain types of expenses, nor does it reflect changes in working capital requirements. In addition, other companies may calculate adjusted EBITDA or similarly titled measures in different ways, which limits their usefulness as comparative measures. The adjusted EBITDA listed here is only a supplementary measure. We encourage you to evaluate each adjustment. The following is a reconciliation of adjusted EBITDA with its most directly comparable GAAP index net loss.

Vivid Seats is one of the biggest companies on the Secondary Market!