Company Analysis

Vivid Seats Inc. (SEAT)

Nasdaq: SEAT · Services-Miscellaneous Amusement & Recreation · Chicago, IL · filing with the SEC since 2021
Grade2.7
◀ Past 3.4● Present 3.0▶ Future 1.6
2 est.

The grade of Vivid Seats Inc.

Nine metrics read from its own filings, by tense
Headline grade
2.7/10
◀ Past3.430% of the headline
● Present3.040% of the headline
▶ Future1.630% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
1.8/10

Has it survived what it has been through?

1 warning event since 2021; the latest 2025-12-30.

weight 33% of this tense · 18th percentile among 22 sector filers · read for itself

From the record

Vivid Seats Inc.'s filings since 2021 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2025-12-30) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.8/10

What has it actually done, year after year?

+1.8% a year over 7 filed years; profitable in 3 of 7.

weight 45% of this tense · 28th percentile among 20 sector filers · read for its customers

From the record

Vivid Seats Inc.'s 7 filed years say what it did: revenue went from $404 million in fiscal 2019 to $451 million in fiscal 2025, up 1.8% a year; it rose in 4 of 6 years; the deepest fall was 94% from fiscal 2019 to fiscal 2020; net income was positive in 3 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span1.8%bottom 23% of its family
  • the share of years revenue rosebottom 45% of its family
  • the share of filed years with a profitbottom 40% of its family
  • the deepest fall from a revenue peak94.2%bottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
7.2/10

How has it treated the people who own it?

SI estimate 7.2/10, confidence 35 of 100 (one part).

weight 22% of this tense · 72nd percentile among 20 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the cash returned against operating cash flow, which ranks in the top 28% of 20 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: cash returned against operating cash flow, the one part on file, ranked among 20 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Vivid Seats Inc.'s shareholder treatment is put at 7.2 of 10 with a confidence of 35 of 100, because read from one part only, the cash returned against operating cash flow, which ranks in the top 28% of 20 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.0/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

SI estimate
5.3/10

Is it financially healthy right now?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 20 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
Fewer than two of the four checks can be read, so the desk assumes the typical reading of its industry family, the median of 20 members with one.
What the record cannot read
Fewer than two of the four checks can be read.
How it was reasoned
family median, 20 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Vivid Seats Inc.'s financial health is put at 5.3 of 10 with a confidence of 20 of 100, because fewer than two of the four checks can be read, so the desk assumes the typical reading of its industry family, the median of 20 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

Industry position

as filed
1.4/10

How strong is its position in its industry?

bottom 14% of 20 in its family; net margin -160.1%.

weight 45% of this tense · 14th percentile among 20 sector filers · read for its customers

From the record

Vivid Seats Inc.'s standing among 20 graded names in its industry family: revenue of $451 million in fiscal 2025 ranks in the bottom 32% by size; a net margin of -160.1% ranks in the bottom 3%; revenue growth of -4.1% a year over the last 3 filed years ranks in the bottom 8% (its annual reports).

What it rests on

  • revenue against the family$451Mbottom 32% of its family
  • net margin-160.1%bottom 3% of its family
  • three-year revenue growth-4.1%bottom 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.9/10

What are the people in charge doing?

bottom 28% of 9 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 28th percentile among 9 sector filers · read for its shareholders

From the record

Vivid Seats Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Fey, Lawrence (Chief Executive Officer, as filed), filing under that title since 2025-11-14, 12 months (bottom 17% of its family); the 15 officers and directors filing in the last fifteen months have been on the record a median of 5.1 years (bottom 44%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 15 people in charge now (bottom 25%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge10 in three years among 15 peoplebottom 25% of its family
  • the median years the people in charge have filed5.1 yearsbottom 44% of its family
  • the chief executive's years on the record1.0 yearsbottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

1.6/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
1.5/10

How much room does it have to grow?

bottom 15% of 20 in its family for room to expand.

weight 22% of this tense · 15th percentile among 20 sector filers · read for itself

From the record

Vivid Seats Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $103 million against debt of $383 million leaves -44% of its assets as net cash, bottom 17% of its family; cash from operations less capital spending is -20.8% of revenue (bottom 13%) (its annual report).

What it rests on

  • cash less debt against assets-44.0%bottom 17% of its family
  • cash from operations less capital spending against revenue-20.8%bottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
2.7/10

What could actually drive growth from here?

bottom 27% of 20 in its family for growth drivers.

weight 45% of this tense · 27th percentile among 20 sector filers · read for its customers

From the record

Vivid Seats Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -4.1% a year over the last three filed years against 1.8% over all 7, slowing (bottom 38% of its family); the newest year grew -30.5% (bottom 8%); capital spending grew -15.3% a year (bottom 36%) (its annual reports). Vivid Seats Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-6.0 points a yearbottom 38% of its family
  • the newest year's revenue growth-30.5%bottom 8% of its family
  • three-year growth of capital spending-15.3%bottom 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
0.3/10

Did its newest year beat what its own record pointed to?

bottom 3% of 18 in its family for expectations against reality.

weight 33% of this tense · 3rd percentile among 18 sector filers · read for its shareholders

From the record

Vivid Seats Inc.'s newest year against its own record: revenue of $451 million in fiscal 2025 came in 38.2% below the $729 million its prior three years' pace pointed to (bottom 3% of its family); net income of $721 million against a prior three-year average of $52 million (bottom 3%); a net margin of a loss larger than its revenue against 8.9% before (bottom 3%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-38.2%bottom 3% of its family
  • net income against the prior three years' averagefive times below its prior average or morebottom 3% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SEAT · research, not advice