Vivid Seats Inc. (SEAT) FY2025 10-K Annual Report
Vivid Seats Inc. (SEAT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Vivid Seats Inc. FY2025 10-K Analysis
Business Overview
- • Core business model detail absent; focus on governance and compliance disclosure
- • No new products, services, or business segments introduced or emphasized
Management Discussion & Analysis
- • Operating cash flow negative $91.6M in 2025 vs positive $53.9M in 2024, driven by $721.5M net loss and $105.9M increase in operating assets/liabilities
- • Investing cash outflows $20.2M in 2025, primarily for online platform development, down from $26.7M in 2024
Risk Factors
- • Privacy and data security regulatory risk from California Consumer Privacy Act (CCPA) compliance and growing U.S. data privacy laws, increasing costs and litigation exposure
- • Geopolitical/macro risk from Southern Nevada exposure to water and electricity shortages impacting Vegas.com operations
Vivid Seats Inc. FY2025 Key Financial MetricsXBRL
Revenue
$451M
▼ -30.5% YoY
Net Income
$806M
▲ +5903.2% YoY
Net Margin
178.9%
▲ +17685bp YoY
ROE
-946.9%
▼ -95200bp YoY
Total Assets
$637M
▼ -61.1% YoY
Operating Cash Flow
-$92M
▼ -269.9% YoY
Source: XBRL data from Vivid Seats Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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