Vivid Seats (SEAT) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Entity Registrant Name	Vivid Seats Inc.
Entity Central Index Key	0001856031
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	true
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity File Number	001-40926
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-3355184
Entity Address, Address Line One	24 E. Washington Street
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60602
City Area Code	312
Local Phone Number	291-9966
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Current Reporting Status	No
Entity Ex Transition Period	false
Class A Common Stock
Document Information [Line Items]
Trading Symbol	SEAT
Entity Common Stock, Shares Outstanding		96,384,194
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		99,800,000
Warrants
Document Information [Line Items]
Trading Symbol	SEATW
Title of 12(b) Security	Warrants to purchase one share of Class A common stock
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 306,202	$ 251,542
Restricted cash	672	748
Accounts receivable - net	46,301	36,531
Inventory - net	28,010	12,783
Prepaid expenses and other current assets	46,608	29,912
Total current assets	427,793	331,516
Property and equipment - net	10,356	10,431
Right-of-use assets - net	7,564	7,859
Intangible assets - net	82,031	81,976
Goodwill	715,258	715,258
Deferred tax assets	79,275	1,853
Other non-current assets	2,407	2,538
Total Assets	1,324,684	1,151,431
Current liabilities:
Accounts payable	204,217	161,312
Accrued expenses and other current liabilities	192,038	181,970
Deferred revenue	30,070	31,983
Current maturities of long-term debt	2,750	2,750
Total current liabilities	429,075	378,015
Long-term debt - net	263,873	264,898
Long-term lease liabilities	14,808	14,911
Tax Receivable Agreement liability	98,977	0
Other non-current liabilities	20,868	13,445
Total long-term liabilities	398,526	293,254
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests	790,416	862,860
Shareholders' deficit
Additional paid-in capital	717,990	663,908
Treasury stock, at cost, 5,291,497 and 4,342,477 shares at June 30, 2023 and December 31, 2022, respectively	(40,106)	(32,494)
Accumulated deficit	(971,238)	(1,014,132)
Total Shareholders' deficit	(293,333)	(382,698)
Total liabilities, Redeemable noncontrolling interests, and Shareholders' deficit	1,324,684	1,151,431
Class A Common Stock
Shareholders' deficit
Common Stock	11	8
Class B Common Stock
Shareholders' deficit
Common Stock	$ 10	$ 12

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Treasury stock, shares	5,291,497	4,342,477
Class A Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	101,611,805	82,410,774
Common stock, shares outstanding	101,611,805	82,410,774
Class B Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	99,800,000	118,200,000
Common stock, shares outstanding	99,800,000	118,200,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Costs and expenses:
Depreciation and amortization			$ 5,302	$ 3,111
Change in fair value of contingent consideration			(1,018)	0
Other (income) expense:
Loss on extinguishment of debt			0	4,285
Net income	$ 13,646	$ 24,060	44,002	27,198
Net income attributable to Class A Common Stockholders	30,712	9,655
Hoya Intermediate, LLC
Revenues	165,380	147,694	326,443	278,466
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization shown separately below)	42,616	32,422	80,376	64,586
Marketing and selling	65,192	59,412	119,964	113,640
General and administrative	38,307	36,207	70,696	65,482
Depreciation and amortization	2,704	1,726	5,302	3,111
Change in fair value of contingent consideration	(1,052)	0	(1,018)	0
Income from operations	17,613	17,927	51,123	31,647
Other (income) expense:
Interest expense – net	2,772	2,699	6,052	6,641
Loss on extinguishment of debt	0	0	0	4,285
Other (income) expense	1,000	(8,832)	673	(6,553)
Income before income taxes	13,841	24,060	44,398	27,274
Income tax expense (benefit)	(24,485)	0	(24,200)	76
Net income	38,326	24,060	68,598	27,198
Net income attributable to redeemable noncontrolling interests	7,614	14,405	25,704	16,284
Net income attributable to Class A Common Stockholders	$ 30,712	$ 9,655	$ 42,894	$ 10,914
Net income per Class A common stock:
Basic	$ 0.36	$ 0.12	$ 0.53	$ 0.14
Diluted	$ 0.2	$ 0.12	$ 0.35	$ 0.14
Weighted average Class A Common Stock outstanding
Basic	85,269,196	79,256,354	81,319,369	79,204,430
Diluted	196,377,470	79,259,017	196,128,259	79,737,582

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 13,646	$ 24,060	$ 44,002	$ 27,198
Hoya Intermediate, LLC
Net income	38,326	24,060	68,598	27,198
Other comprehensive income:
Comprehensive income, net of taxes	38,326	24,060	68,598	27,198
Comprehensive income attributable to redeemable noncontrolling interests	7,614	14,405	25,704	16,284
Comprehensive income attributable to Class A Common Stockholders	$ 30,712	$ 9,655	$ 42,894	$ 10,914

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Treasury Stock	Noncontrolling Interest	Accumulated Deficit
Temporary equity, Balances at Dec. 31, 2021								$ 1,286,016
Balances, shares at Dec. 31, 2021				79,091,871	118,200,000
Balances at Dec. 31, 2021	$ (860,683)			$ 8	$ 12	$ 182,091			$ (1,042,794)
Net income	1,259								1,259
Net income attributable to redeemable noncontrolling interests								1,879
Issuance of shares, shares				75,072
Deemed contribution from former parent	463					463		691
Equity-based compensation	2,443					2,443
Subsequent remeasurement of Redeemable noncontrolling interests	(18,706)					(18,706)		18,706
Balances, shares at Mar. 31, 2022				79,166,943	118,200,000
Balances at Mar. 31, 2022	(875,224)			$ 8	$ 12	166,291		1,307,292	(1,041,535)
Temporary equity, Balances at Dec. 31, 2021								1,286,016
Balances, shares at Dec. 31, 2021				79,091,871	118,200,000
Balances at Dec. 31, 2021	(860,683)			$ 8	$ 12	182,091			(1,042,794)
Balances, shares at Jun. 30, 2022				79,241,032	118,200,000
Balances at Jun. 30, 2022	(425,622)			$ 8	$ 12	606,238		882,954	(1,031,880)
Balances, shares at Mar. 31, 2022				79,166,943	118,200,000
Balances at Mar. 31, 2022	(875,224)			$ 8	$ 12	166,291		1,307,292	(1,041,535)
Net income	9,655								9,655
Net income attributable to redeemable noncontrolling interests								14,405
Issuance of shares, shares				74,089
Deemed contribution from former parent	468					468		699
Equity-based compensation	4,145					4,145
Distributions to non-controlling interest	(4,108)					(4,108)
Subsequent remeasurement of Redeemable noncontrolling interests	439,442					439,442		(439,442)
Balances, shares at Jun. 30, 2022				79,241,032	118,200,000
Balances at Jun. 30, 2022	(425,622)			$ 8	$ 12	606,238		882,954	(1,031,880)
Temporary equity, Balances at Dec. 31, 2022								862,860
Balances, shares at Dec. 31, 2022		82,410,774	118,200,000	82,410,774	118,200,000		(4,342,477)
Balances at Dec. 31, 2022	(382,698)			$ 8	$ 12	663,908	$ (32,494)		(1,014,132)
Net income	12,182								12,182
Net income attributable to redeemable noncontrolling interests								18,090
Issuance of shares, shares				491,502
Issuance of shares	1			$ 1
Deemed contribution from former parent	391					391		577
Equity-based compensation	4,615					4,615
Repurchases of common stock	(7,612)						$ (7,612)
Repurchases of common stock Share							$ (949,020)
Distributions to non-controlling interest								(3,816)
Subsequent remeasurement of Redeemable noncontrolling interests	(24,155)					(24,155)		24,155
Balances, shares at Mar. 31, 2023				82,902,276	118,200,000		(5,291,497)
Balances at Mar. 31, 2023	(397,276)			$ 9	$ 12	644,759	$ (40,106)	901,866	(1,001,950)
Temporary equity, Balances at Dec. 31, 2022								862,860
Balances, shares at Dec. 31, 2022		82,410,774	118,200,000	82,410,774	118,200,000		(4,342,477)
Balances at Dec. 31, 2022	(382,698)			$ 8	$ 12	663,908	$ (32,494)		(1,014,132)
Balances, shares at Jun. 30, 2023		101,611,805	99,800,000	101,611,805	99,800,000		(5,291,497)
Balances at Jun. 30, 2023	(293,333)			$ 11	$ 10	717,990	$ (40,106)	790,416	(971,238)
Balances, shares at Mar. 31, 2023				82,902,276	118,200,000		(5,291,497)
Balances at Mar. 31, 2023	(397,276)			$ 9	$ 12	644,759	$ (40,106)	901,866	(1,001,950)
Net income	30,712								30,712
Net income attributable to redeemable noncontrolling interests								7,614
Issuance of shares, shares				309,529
Deemed contribution from former parent	431					431		544
Secondary offering of Class A common stock	145,064			$ 2	$ (2)	145,064		(145,064)
Secondary Offering Of Common Stock Share				18,400,000	(18,400,000)
Equity-based compensation	6,524					6,524
Distributions to non-controlling interest								(7,200)
Subsequent remeasurement of Redeemable noncontrolling interests	(32,656)					(32,656)		32,656
Establishment of liabilities under tax receivable agreement and related changes to deferred tax assets	(46,132)					(46,132)
Balances, shares at Jun. 30, 2023		101,611,805	99,800,000	101,611,805	99,800,000		(5,291,497)
Balances at Jun. 30, 2023	$ (293,333)			$ 11	$ 10	$ 717,990	$ (40,106)	$ 790,416	$ (971,238)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income	$ 44,002	$ 27,198
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,302	3,111
Amortization of deferred financing costs and interest rate cap	453	575
Equity-based compensation expense	12,910	8,909
Loss on extinguishment of debt	0	4,285
Change in fair value of warrants	673	(6,553)
Amortization of leases	295	1,177
Loss on asset disposals	17	0
Change in fair value of contingent consideration	(1,018)	0
Deferred taxes	(24,577)	0
Change in assets and liabilities:
Accounts receivable	(9,770)	(8,171)
Inventory	(15,227)	(9,429)
Prepaid expenses and other current assets	(16,696)	13,412
Accounts payable	42,905	(638)
Accrued expenses and other current liabilities	13,586	(38,014)
Deferred revenue	(1,913)	7,518
Other non-current assets and liabilities	7,132	(1,974)
Net cash provided by operating activities	82,670	1,406
Cash flows from investing activities
Purchases of property and equipment	(606)	(1,392)
Purchases of personal seat licenses	(486)	(137)
Investments in developed technology	(4,491)	(5,394)
Cash adjustment in acquisition	0	(8)
Net cash used in investing activities	(5,583)	(6,931)
Cash flows from financing activities
Payments of February 2022 First Lien Loan	(1,375)	(687)
Repurchase of common stock as treasury stock	(7,612)	0
Cash paid for milestone payments	(2,500)	0
Tax distributions	(11,016)	0
Payments of deferred financing costs and other debt-related costs	0	(4,856)
Net cash used in financing activities	(22,503)	(196,255)
Net increase (decrease) in cash, cash equivalents, and restricted cash	54,584	(201,780)
Cash, cash equivalents, and restricted cash - beginning of period	252,290	489,810
Cash, cash equivalents, and restricted cash - end of period	306,874	288,030
Supplemental disclosure of cash flow information:
Cash paid for interest	7,261	6,285
Cash paid for income tax	401	0
Cash paid for operating lease liabilities	459	1,372
Right-of-use assets obtained in exchange for lease obligations	0	3,406
Establishment of liabilities under Tax Receivable Agreement	98,977	0
Establishment of deferred tax asset under Tax Receivable Agreement	52,845	0
Subsidiaries [Member]
Cash flows from operating activities
Net income	68,598	27,198
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,302	3,111
Loss on extinguishment of debt	0	4,285
Change in fair value of contingent consideration	(1,018)	0
June 2017 First Lien Loan
Cash flows from financing activities
Payments of June 2017 First Lien Loan	0	(465,712)
February 2022 First Lien Loan
Cash flows from financing activities
Proceeds from February 2022 First Lien Loan	$ 0	$ 275,000

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 30,712	$ 12,182	$ 9,655	$ 1,259

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Vivid Seats Inc
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Background and Basis of Presentation	1. Background and Basis of Presentation Vivid Seats Inc. and its subsidiaries including Hoya Intermediate, LLC ("Hoya Intermediate"), Hoya Midco, LLC ("Hoya Midco"), and Vivid Seats LLC (collectively the “Company,” “us,” “we,” and “our”) provide an online secondary ticket marketplace that enables ticket buyers to discover and easily purchase tickets to concert, sporting and theater events in the United States and Canada. Through our Marketplace segment, we operate an online platform enabling ticket buyers to purchase tickets to live events, while enabling ticket sellers to seamlessly manage their operations. In our Resale segment, we acquire tickets to resell on secondary ticket marketplaces, including our own. We have prepared these unaudited condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X issued by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for comprehensive annual financial statements. These condensed consolidated financial statements are not necessarily indicative of results that may be expected for any other interim period or for the full year. These condensed consolidated financial statements should be read together with the audited annual consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and Amendment No. 1 thereto, which were filed with the SEC on March 7, 2023 and May 9, 2023, respectively (together, our “2022 Form 10-K”). These condensed consolidated financial statements include all of our accounts, including those of our consolidated subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain prior period amounts of Other non-current assets have been reclassified to conform to current period presentation. These reclassifications had no effect on previously reported totals for assets, liabilities, shareholders' deficit, cash flows or net income.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. New Accounting Standards Recently adopted accounting standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which changes how entities will measure credit losses for financial assets and certain other instruments that are not measured at fair value through net income. The new expected credit loss impairment model requires immediate recognition of estimated credit losses expected to occur. ASU 2019-10, Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates , deferred the effective date for non-public companies. The standard is effective for non-public companies for fiscal years beginning after December 15, 2022. We adopted these requirements as of January 1, 2023 with no material impact on our consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting , as modified in January 2021. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. The new guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued. The guidance also establishes (1) a general contract modification principle that entities can apply in other areas that may be affected by reference rate reform and (2) certain elective hedge accounting expedients. We adopted these requirements as of January 1, 2023 with no material impact on our consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Hoya Intermediate, LLC
Disaggregation of Revenue [Line Items]
Revenue Recognition	3. Revenue Recognition We recognize revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers . We have two reportable segments: Marketplace and Resale. Through the Marketplace segment, we act as an intermediary between ticket buyers and sellers. We earn revenue processing ticket sales from our Owned Properties, consisting of the Vivid Seats website and our mobile applications, and from our Private Label offering, which is comprised of numerous distribution partners. Marketplace revenues consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Marketplace revenues: Owned Properties $ 103,413 $ 98,564 $ 206,228 $ 182,230 Private Label 35,737 31,350 69,503 58,200 Total Marketplace revenues $ 139,150 $ 129,914 $ 275,731 $ 240,430 Marketplace revenues consisted of the following event categories (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Marketplace revenues: Concerts $ 77,741 $ 65,816 $ 152,620 $ 124,489 Sports 45,349 51,285 90,949 90,200 Theater 15,527 11,856 30,917 24,471 Other 533 957 1,245 1,270 Total Marketplace revenues $ 139,150 $ 129,914 $ 275,731 $ 240,430 Resale revenues were $ 26.2 million and $ 50.7 million during the three and six months ended June 30, 2023, respectively, and $ 17.8 million and $ 38.0 million during the three and six months ended June 30, 2022, respectively. At June 30, 2023, Deferred revenue in the Condensed Consolidated Balance Sheets was $ 30.1 million , which primarily relates to Vivid Seats Rewards, our loyalty program. Stamps earned under the program expire in two to three years, if not converted to credits, and credits expire in two to four years, if not redeemed. We expect to recognize all outstanding deferred revenue in the next seven years. At December 31, 2022, $ 32.0 million was recorded as Deferred revenue, of which $ 0.8 million and $ 11.7 million was recognized as revenue during the three and six months ended June 30, 2023, respectively. At December 31, 2021, $ 25.1 million was recorded as Deferred revenue, of which $ 2.0 million and $ 6.0 million was recognized as revenue during the three and six months ended June 30, 2022, respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	4. Segment Reporting Our reportable segments are Marketplace and Resale. Through the Marketplace segment, we act as an intermediary between ticket buyers and sellers within our online secondary ticket marketplace. Through the Resale segment, we acquire tickets from primary sellers, which we then sell through secondary ticket marketplaces, including our own. Revenues and contribution margin are used by our Chief Operating Decision Maker ("CODM") to assess performance of the business. We define contribution margin as revenues less cost of revenues and marketing and selling expenses. We do not report our assets, capital expenditures, general and administrative expenses or related depreciation and amortization expenses by segment because our CODM does not use this information to evaluate the performance of our operating segments. The following tables represent our segment information (in thousands): Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Marketplace Resale Consolidated Marketplace Resale Consolidated Revenues $ 139,150 $ 26,230 $ 165,380 $ 275,731 $ 50,712 $ 326,443 Cost of revenues (exclusive of depreciation and amortization shown separately below) 22,766 19,850 42,616 42,826 37,550 80,376 Marketing and selling 65,192 — 65,192 119,964 — 119,964 Contribution margin $ 51,192 $ 6,380 57,572 $ 112,941 $ 13,162 126,103 General and administrative 38,307 70,696 Depreciation and amortization 2,704 5,302 Change in fair value of contingent consideration ( 1,052 ) ( 1,018 ) Income from operations 17,613 51,123 Interest expense – net 2,772 6,052 Other income 1,000 673 Income before income taxes $ 13,841 $ 44,398 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Marketplace Resale Consolidated Marketplace Resale Consolidated Revenues $ 129,914 $ 17,780 $ 147,694 $ 240,430 $ 38,036 $ 278,466 Cost of revenues (exclusive of depreciation and amortization shown separately below) 18,553 13,869 32,422 34,962 29,624 64,586 Marketing and selling 59,412 — 59,412 113,640 — 113,640 Contribution margin $ 51,949 $ 3,911 55,860 $ 91,828 $ 8,412 100,240 General and administrative 36,207 65,482 Depreciation and amortization 1,726 3,111 Income from operations 17,927 31,647 Interest expense – net 2,699 6,641 Loss on extinguishment of debt — 4,285 Other expenses ( 8,832 ) ( 6,553 ) Income before income taxes $ 24,060 $ 27,274 Substantially all of our sales occur, and assets reside, in the United States.

Accounts Receivable - Net

Accounts Receivable - Net	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Accounts Receivable - Net	5. Accounts Receivable - Net As of June 30, 2023 and December 31, 2022, Accounts receivable – net was $ 46.3 million and $ 36.5 million , respectively. $ 22.2 million and $ 18.9 million of the Accounts receivable balance at June 30, 2023 and December 31, 2022, respectively, consisted of uncollateralized payment processor obligations due under normal trade terms typically requiring payment within three business days. Credit risk with respect to accounts receivable from payment processing entities is limited due to the consolidation of those receivables with large financial institutions and the frequency with which the receivables turn over. $ 9.9 million and $ 1.0 million of the Accounts receivable balance at June 30, 2023 and December 31, 2022, respectively, consisted of amounts due from marketplace ticket sellers for canceled events and costs of replacement tickets. We recorded an allowance for credit losses of $ 3.0 million and $ 0.1 million at June 30, 2023 and December 31, 2022, respectively, to reflect potential challenges in collecting funds from marketplace ticket sellers. The allowance for credit losses increased during the six months ended June 30, 2023 as certain ticket sellers on the marketplace platform generated balances in excess of their existing payables, creating a greater risk of credit losses on these receivables. $ 11.9 million and $ 11.7 million of the Accounts receivable balance at June 30, 2023 and December 31, 2022, respectively, consisted of amounts due from distribution partners for cancellation charges, primarily related to canceled events. We recorded an allowance for credit losses of $ 4.4 million and $ 3.6 million at June 30, 2023 and December 31, 2022, respectively, to reflect potential challenges in collecting funds from distribution partners, particularly for amounts due upon usage of store credit previously issued to buyers. Accounts receivable balances are stated net of allowance for credit losses and bad debt expense is presented as a reduction of Revenues in the Condensed Consolidated Statement of Operations. There were no write-offs for the three and six months ended June 30, 2023 and 2022.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	6. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): June 30, 2023 December 31, 2022 Recovery of future customer compensation $ 40,827 $ 23,311 Prepaid expenses 5,121 6,032 Other current assets 660 569 Total prepaid expenses and other current assets $ 46,608 $ 29,912 Recovery of future customer compensation represents expected recoveries of compensation to be paid to customers for event cancellations or other service issues related to previously recorded sales transactions. Recovery of future customer compensation costs increased by $ 17.5 million at June 30, 2023 compared to December 31, 2022 due to an increase in the reserve for future cancellations driven by higher volume of sales for future events. The provision related to these expected recoveries is included in Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Definite-lived intangible assets includes developed technology and customer relationships, which had a net carrying amount of $ 17.4 million and $ 17.3 million at June 30, 2023 and December 31, 2022, respectively, and accumulated amortization of $ 14.3 million and $ 9.6 million at June 30, 2023 and December 31, 2022, respectively. Our goodwill is included in our Marketplace segment. The net changes in the carrying amounts of our intangible assets and goodwill were as follows (in thousands): Definite-lived Intangible Assets Trademark Goodwill Balance at January 1, 2023 $ 17,310 $ 64,666 $ 715,258 Capitalized development costs 4,667 — — Disposals ( 10 ) — — Amortization ( 4,602 ) — — Balance at June 30, 2023 $ 17,365 $ 64,666 $ 715,258 Definite-lived Intangible Assets Trademark Goodwill Balance at January 1, 2022 $ 13,845 $ 64,666 $ 718,204 Betcha acquisition adjustment ( 890 ) — ( 2,946 ) Capitalized development costs 5,394 — — Amortization ( 2,948 ) — — Balance at June 30, 2022 $ 15,401 $ 64,666 $ 715,258 We had recorded $ 563.2 million of cumulative impairment charges related to our intangible assets and goodwill as of June 30, 2023 and December 31, 2022. Amortization expense on our definite-lived intangible assets was $ 2.3 million and $ 4.6 million for the three and six months ended June 30, 2023, respectively, and $ 1.6 million and $ 2.9 million for the three and six months ended June 30, 2022, respectively. Amortiza tion expense is presented in Depreciation and amortization in the Condensed Consolidated Statements of Operations.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	8. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following (in thousands): June 30, 2023 December 31, 2022 Accrued marketing expense $ 31,061 $ 26,873 Accrued taxes 540 542 Accrued customer credits 75,136 88,167 Accrued future customer compensation 47,314 30,181 Accrued contingencies 3,480 5,898 Accrued payroll 8,341 10,660 Other current liabilities 26,166 19,649 Total accrued expenses and other current liabilities $ 192,038 $ 181,970 Accrued customer credits represent credits issued and outstanding for event cancellations or other service issues related to recorded sales transactions. The accrued amount is reduced by the amount of credits estimated to go unused, known as breakage, provided that the credits are not subject to escheatment. We estimate breakage based on historical usage trends and available data on comparable programs and recognize breakage in proportion to the pattern of redemption for customer credits. Our breakage estimate could be impacted by future activity differing from our estimates, the effects of which could be material. During the three and six months ended June 30, 2023, $ 2.6 million and $ 5.2 million of accrued customer credits were redeemed, respectively, and we recognized $ 6.1 million and $ 10.7 million of revenue from breakage, respectively. During the three and six months ended June 30, 2022, $ 7.5 million and $ 17.3 million of accrued customer credits were redeemed, respectively, and we recognized $ 2.6 million and $ 3.2 million of revenue from breakage, respectively. Breakage amounts are net of reductions in associated accounts receivable balances. Accrued future customer compensation represents an estimate of the amount of customer compensation due from cancellation charges in the future. These provisions are based on historic experience, revenue volumes for future events, and management’s estimate of the likelihood of future event cancellations and are recognized as a component of Revenues in the Condensed Consolidated Statements of Operations. The expected recoveries of these obligations are included in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets. This estimated accrual could be impacted by future activity differing from our estimates, the effects of which could be material. During the three and six months ended June 30, 2023, we recognized a net increase in revenue of $ 1.1 million and a net decrease in revenue of $ 0.2 million , respectively, and during the three and six months ended June 30, 2022, we recognized a net increase in revenue of $ 5.2 million and $ 3.4 million , respectively, from the reversals of previously recorded revenue and changes to accrued future customer compensation related to event cancellations where the performance obligations were satisfied in prior periods. Accrued contingencies primarily decreased as a result of a milestone payment to Betcha Sports, Inc. ("Betcha," which was rebranded as "Vivid Picks") of $ 2.5 million in cash during the six months ended June 30, 2023. Other current liabilities primarily increased as a result of accrued interest during the six months ended June 30, 2023.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	9. Debt Our outstanding debt is comprised of the following (in thousands): June 30, 2023 December 31, 2022 February 2022 First Lien Loan $ 271,563 $ 272,938 Total long-term debt, gross 271,563 272,938 Less: unamortized debt issuance costs ( 4,940 ) ( 5,290 ) Total long-term debt, net of issuance costs 266,623 267,648 Less: current portion ( 2,750 ) ( 2,750 ) Total long-term debt, net $ 263,873 $ 264,898 June 2017 Term Loans On June 30, 2017, we entered into a $ 575.0 million first lien debt facility, comprised of a $ 50.0 million revolving credit facility and a $ 525.0 million term loan (the “June 2017 First Lien Loan”), and a second lien credit facility, comprised of a $ 185.0 million second lien term loan (the “June 2017 Second Lien Loan”). The June 2017 First Lien Loan was amended to upsize the committed amount by $ 115.0 million on July 2, 2018. On October 28, 2019 , we paid off the June 2017 Second Lien Loan balance. The revolving credit facility component of the first lien debt facility was subsequently retired on May 22, 2020. On October 18, 2021, we made an early principal payment related to the June 2017 First Lien Loan of $ 148.2 million in connection with, and using the proceeds from, the merger transaction with Horizon Acquisition Corporation ("Merger Transaction") and a private investment in public equity. On February 3, 2022, we repaid $ 190.7 million of the outstanding balance of the June 2017 First Lien Loan and refinanced the remaining balance with a new $ 275.0 million term loan. February 2022 First Lien Loan On February 3, 2022, we entered into an amendment which refinanced the remaining balance of the June 2017 First Lien Loan with a new $ 275.0 million term loan (the "February 2022 First Lien Loan"), which has a maturity date of February 3, 2029 and added a new $ 100.0 million revolving credit facility (the “Revolving Facility”) with a maturity date of February 3, 2027. At June 30, 2023, we had no outstanding borrowings under our Revolving Facility. The terms of the February 2022 First Lien Loan specify a secured overnight financing rate (“SOFR”) based floating interest rate and contain a springing financial covenant that requires compliance with a first lien net leverage ratio when revolver borrowings exceed certain levels. All obligations under the February 2022 First Lien Loan are unconditionally guaranteed by Hoya Intermediate and substantially all of Hoya Intermediate’s existing and future direct and indirect wholly owned domestic subsidiaries. The February 2022 First Lien Loan requires quarterly amortization payments of $ 0.7 million. The Revolving Facility does not require periodic payments. All obligations under the February 2022 First Lien Loan are secured, subject to permitted liens and other exceptions, by first-priority perfected security interests in substantially all of our assets. The February 2022 First Lien Loan carries an interest rate of SOFR (subject to a 0.5 % floor) plus 3.25 %. The effective interest rate on the February 2022 First Lien Loan was 8.71 % and 7.98 % per annum at June 30, 2023 and December 31, 2022, respectively. Our February 2022 First Lien Loan is held by third-party financial institutions and is carried at the outstanding principal balance, less debt issuance costs and any unamortized discount or premium. The fair value was estimated using quoted prices that are directly observable in the marketplace. Therefore, the fair value is estimated on a Level 2 basis. At June 30, 2023 and December 31, 2022, the fair value of our February 2022 First Lien Loan approximated the carrying value. We are subject to certain reporting and compliance-related covenants to remain in good standing under the February 2022 First Lien Loan. These covenants, among other things, limit our ability to incur additional indebtedness and, in certain circumstances, restrict our ability to enter into transactions with affiliates, create liens, merge or consolidate, and make certain payments. Non-compliance with these covenants and failure to remedy could result in the acceleration of the loans or foreclosure on the collateral. As of June 30, 2023, we were in compliance with all of our debt covenants related to the February 2022 First Lien Loan. Due to the refinancing of the June 2017 First Lien Loan with the February 2022 First Lien Loan, we incurred a loss of $ 4.3 million for the six months ended June 30, 2022, which is presented in Loss on extinguishment of debt in the Condensed Consolidated Statements of Operations.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Financial Instruments	10. Financial Instruments We issued the following warrants during the year ended December 31, 2021 in connection with the Merger Transaction: Public Warrants We issued warrants to purchase 18,132,776 shares of our Class A common stock at an exercise price of $ 11.50 per share ("Public Warrants") to former warrant holders of Horizon Acquisition Corporation, of which warrants to purchase 5,166,666 shares were issued to Horizon Sponsor, LLC. The Public Warrants are traded on the Nasdaq Stock Market under the symbol “SEATW.” As of June 30, 2023, there we re 6,766,853 outstanding Public Warrants. Private Warrants We issued warrants to purchase 6,519,791 shares of our Class A common stock at an exercise price of $ 11.50 per share ("Private Warrants") to Horizon Sponsor, LLC. The Private Warrants have similar terms to the Public Warrants, except that the Private Warrants are not redeemable by us. As of June 30 , 2023, there were 6,519,791 outstanding Private Warrants. Exercise Warrants We issued to Horizon Sponsor, LLC warrants to purchase 17,000,000 shares of our Class A common stock at an exercise price of $ 10.00 per share (“$ 10 Exercise Warrants”) and warrants to purchase 17,000,000 shares of our Class A common stock at an exercise of $ 15.00 per share (“$ 15 Exercise Warrants”; together with the $ 10 Exercise Warrants, “Exercise Warrants”). The Exercise Warrants have similar terms to the Public Warrants, except that the Exercise Warrants have different exercise prices, an initial term of 10 years , are not redeemable by us, and are fully transferable. As of June 30, 2023, there were 17,000,000 $ 10 Exercise Warrants outstanding and 17,000,000 $ 15 Exercise Warrants outstanding. Mirror Warrants Hoya Intermediate issued to us warrants to purchase 17,000,000 of its common units (“Intermediate Units”) at an exercise price of $ 10.00 per unit (“$ 10 Mirror Warrants”), warrants to purchase 17,000,000 Intermediate Units at an exercise of $ 15.00 per unit (“$ 15 Mirror Warrants”), and warrants to purchase 24,652,557 Intermediate Units at an exercise price of $ 11.50 per unit (“$ 11.50 Mirror Warrants”; together with the $ 10 Mirror Warrants and $ 15 Mirror Warrants, “Mirror Warrants”). The number and terms of the Mirror Warrants are identical to the Public, Private and Exercise Warrants, respectively. Upon the valid exercise of a Public, Private or Exercise Warrant, Hoya Intermediate will issue to us an equivalent number of Intermediate Units. Similarly, if a Public, Private or Exercise Warrant is tendered, an equivalent number of Mirror Warrants will be tendered. As of June 30, 2023, there were 17,000,000 $ 10 Mirror Warrants outstanding, 17,000,000 $ 15 Mirror Warrants outstanding and 13,286,644 $ 11.50 Mirror Warrants outstanding. Hoya Intermediate Warrants Hoya Intermediate issued to Hoya Topco, LLC (“Hoya Topco”) warrants to purchase 3,000,000 Intermediate Units at an exercise price of $ 10.00 per unit and warrants to purchase 3,000,000 Intermediate Units at an exercise of $ 15.00 per unit (collectively, the "Hoya Intermediate Warrants"). A portion of the Hoya Intermediate Warrants, consisting of warrants to purchase 1,000,000 Intermediate Units at exercise prices of $ 10.00 and $ 15.00 per unit, respectively (“Option Contingent Warrants”), were issued in tandem with stock options we issued to members of our management team (“Management Options”). The Option Contingent Warrants only become exercisable by Hoya Topco if a Management Option is forfeited or expires unexercised. As of June 30, 202 3, 0.1 million Management Options were forfeited or expired. Hoya Intermediate Warrants allow for cash redemption at the option of the warrant holder. Hence, the Hoya Intermediate Warrants are classified as a liability in Other liabilities in the Condensed Consolidated Balance Sheets. Upon consummation of the Merger Transaction, we recorded a warrant liability of $ 20.4 million, reflecting the fair value of the Hoya Intermediate Warrants determined using the Black-Scholes model. Upon consummation of the Merger Transaction, the fair value of the Hoya Intermediate Warrants included Option Contingent Warrants of $ 1.6 million. The estimated fair value of the Option Contingent Warrants is adjusted to reflect the probability of forfeiture of the corresponding Management Options based on historical forfeiture rates for Hoya Topco profits interests. The following assumptions were used to calculate the fair value of the Hoya Intermediate Warrants and the Option Contingent Warrants: June 30, 2023 December 31, 2022 Estimated volatility 38.0 % 39.0 % Expected term (years) 8.3 8.8 Risk-free rate 3.9 % 3.9 % Expected dividend yield 0.0 % 0.0 % For the three and six months ended June 30, 2023, the fair value of the Hoya Intermediate Warrants and the Option Contingent Warrants increased by $ 1.0 million and $ 0.7 million , respectively, and for the three and six months ended June 30, 2022 decreased by $ 8.8 million and $ 6.6 million , respectively, which is presented in Other (income) expense on the Condensed Consolidated Statements of Operations. Upon the valid exercise of a Hoya Intermediate Warrant for Intermediate Units, we will issue an equivalent amount of shares of our Class B common stock to Hoya Topco. Other financial instruments, including accounts receivable and accounts payable, are carried at cost, which approximates their fair value because of the short-term nature of these instruments. Share Repurchase Program On May 25, 2022, our board of directors (“Board”) authorized a share repurchase program of our Class A common stock of up to $ 40.0 million ("Repurchase Program"). The Repurchase Program was announced on May 26, 2022 and its authorization was fully utilized during 2022 and during the three months ended March 31, 2023. Cumulatively under the Repurchase Program, we repurchased 5.3 million shares of our Class A common stock for $ 40.0 million and paid $ 0.1 million in commissions. The share repurchases are accounted for as Treasury stock in the Condensed Consolidated Balance Sheets. We made no share repurchases during the three months ended June 30, 2023. Secondary Offering During the three months ended June 30, 2023, we completed a public offering of 18,400,000 shares of our Class A common stock, comprised of 16,000,000 shares sold on May 22, 2023 and 2,400,000 shares sold on June 15, 2023 pursuant to the full exercise by the underwriters of their option to purchase additional shares (the "Secondary Offering"). The shares were sold at a public offering price of $ 8.00 per share and were purchased by the underwriters from Hoya Topco (the "Selling Stockholder") at a price of $ 7.68 per share. The Selling Stockholder exchanged 18,400,000 shares of our Class B common stock and 18,400,000 Intermediate Units for the shares of our Class A common stock that it sold in the Secondary Offering. We did no t receive any of the proceeds from the sale of the shares by the Selling Stockholder in the Secondary Offering. In connection with the Secondary Offering, we incurred $ 1.5 million of expenses, which are included within General and administrative expenses in the Condensed Consolidated Statements of Operations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Litigation From time to time, we are involved in various claims and legal actions arising in the ordinary course of business, none of which, in the opinion of management, could have a material effect on our business, financial position or results of operations other than those matters discussed herein. We are a co-defendant in a class action lawsuit in Canada alleging a failure to disclose service fees prior to checkout, which we have settled. On January 5, 2022, we issued coupons to certain members of the class. Other members were notified in 2022 that they are eligible to submit a claim for a coupon, which they received in 2023. As of June 30, 2023 and December 31, 2022, a liability of $ 0.9 mill ion was recorded in Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets related to expected claim submissions and credit redemptions as of the measurement date. We received multiple class action lawsuits related to customer compensation for cancellations, primarily as a result of COVID-19 restrictions. A final order approving settlement of one of the lawsuits was entered by the court on November 1, 2021 . As such, after insurance, $ 4.5 million was funded to a claims settlement pool in 2021 and fully disbursed in 2022. A settlement was reached in another of the lawsuits in July 2022 which established a separate claims settlement pool of up to $ 2.5 million. That settlement received final approval from the court on January 31, 2023 and the settlement pool will be funded in 2023. As of June 30, 2023 and December 31, 2022, we had accrued a liability of $ 0.1 million and $ 1.6 million, respectively, within Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets related to these matters. We are a defendant in a lawsuit related to an alleged violation of the Illinois Biometric Information Privacy Act. We deny these allegations and intend to vigorously defend against this lawsuit. Based on the information currently available, we are unable to reasonably estimate a possible loss or range of possible losses. As a result, no litigation reserve has been recorded in the Condensed Consolidated Balance Sheets related to this matter. Other In 2018, the U.S. Supreme Court issued its decision in South Dakota v. Wayfair Inc., which overturned previous case law that had precluded states from imposing sales tax collection requirements on retailers without a physical presence in the state. In response, most states have already adopted laws that attempt to impose tax collection obligations on out-of-state companies, and we have registered and are collecting tax, where required by statute. However, states or local governments may continue to adopt laws requiring that we calculate, collect, and remit taxes on sales in their jurisdictions. A successful assertion by one or more jurisdictions could result in tax liabilities, including taxes on past sales, as well as penalties and interest. Based on our analysis of certain state regulations, specifically related to marketplace facilitators and ticket sales, we do not believe risk of loss is probable on historical revenue activities where tax has not already been remitted. We continuously monitor state regulations and will implement required collection and remittance procedures if and when we are subject to such regulations.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related-Party Transactions	12. Related-Party Transactions Vivid Cheers Inc. In December 2020, Vivid Cheers Inc. (“Vivid Cheers”) was incorporated as a non-profit organization within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "IRC"). Vivid Cheers’ mission is to support causes and organizations dedicated to healthcare, education, and support of workers in the live events industry during times of need. We have the right to elect the board of directors of Vivid Cheers, which currently comprises our executives. We do not have a controlling financial interest in Vivid Cheers and, accordingly, do not consolidate its statement of activities with our financial results. We made no charitable contributions to Vivid Cheers during the three and six months ended June 30, 2023. We made charitable contributions to Vivid Cheers of less than $ 0.1 million and $ 0.6 million during the three and six months ended June 30, 2022. We had no accrued charitable contributions payable as of June 30, 2023 and December 31, 2022. Viral Nation Inc. Viral Nation Inc. ("Viral Nation") is a marketing agency that creates viral and social media influencer campaigns and provides advertising, marketing, and technology services. Todd Boehly, a member of our Board, is the co-founder, Chairman and CEO of Eldridge Industries, which owns in excess of 25% of Viral Nation. We incurred an expense of less than $ 0.1 million for the three and six months ended June 30, 2023 and $ 0.5 million and $ 0.6 million for the three and six months ended June 30, 2022, respectively, which is presented in Marketing and selling expenses on the Condensed Consolidated Statements of Operations. Rolling Stone Rolling Stone is a high-profile magazine and media platform that focuses on music, film, TV, and news coverages. Todd Boehly, a member of our Board, is the co-founder, Chairman and CEO of Eldridge Industries, which owns in excess of 20% of Rolling Stone. We incurred an expense of $ 0.3 million and $ 0.6 million as part of our multifaceted partnership with Rolling Stone for the three and six months ended June 30, 2023, respectively, which is presented in Marketing and selling expenses on the Condensed Consolidated Statements of Operations. We incurred no expense and an expense of $ 0.1 million for the three and six months ended June 30, 2022, respectively. Khoros, LLC Khoros, LLC ("Khoros") is a social media engagement and management platform. Martin Taylor, a member of our Board, is a principal at Vista Equity Partners, which is one of our investors and a majority owner of Khoros. We incurred an expense of less than $ 0.1 million and $ 0.1 million for the three and six months ended June 30, 2023, respectively, and less than $ 0.1 million for the three and six months ended June 30, 2022, which is presented in General and administrative expenses on the Condensed Consolidated Statements of Operations. Tax Receivable Agreement In connection with the Merger Transaction, we entered into a Tax Receivable Agreement with the existing Hoya Intermediate shareholders that provides for our payment to such shareholders of 85 % of the amount of the tax savings, if any, that we realize (or, under certain circumstances, are deemed to realize) as a result of, or attributable to, (i) increases in the tax basis of assets owned directly or indirectly by Hoya Intermediate or its subsidiaries from, among other things, any redemptions or exchanges of Intermediate Units, (ii) existing tax basis (including depreciation and amortization deductions arising from such tax basis) in long-lived assets owned directly or indirectly by Hoya Intermediate and its subsidiaries, and (iii) certain other tax benefits (including deductions in respect of imputed interest) related to us making payments under the Tax Receivable Agreement. In conjunction with the Secondary Offering, Hoya Topco exchanged Intermediate Units, and as a result, we recorded a liability of $ 99.0 million and a deferred tax asset of $ 52.8 million related to the Secondary Offering as well as the projected payments under the Tax Receivable Agreement, with a corresponding reduction to additional paid-in capital of $ 46.1 million. Tax Receivable Agreement-related liabilities are classified as current or long-term based on the expected date of payment. As of June 30, 2023, there are no amounts due within 12 months and, therefore, the entire liability is included in Tax Receivable Agreement liability within long-term liabilities in the Condensed Consolidated Balance Sheets.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes For the three and six months ended June 30, 2023, we recorded a $ 24.5 million and $ 24.2 million income tax benefit in continuing operations, respectively. Our effective income tax rate differs from the 21 % U.S. federal statutory rate largely due to the release of our valuation allowance on our U.S. net operating losses, interest limitations, and tax credit carryforwards of which $ 25.3 million was recorded as a discrete tax benefit during the quarter. For the three and six months ended June 30, 2022, we recorded a less than $ 0.1 million income tax expense in continuing operations. The June 30, 2022 income tax provision was primarily a result of state taxes. As of June 30, 2023, our deferred tax assets were primarily the result of our investments in partnership, net operating losses, interest limitations, and tax credit carryforwards. In prior periods, a full valuation allowance was maintained against our U.S. deferred tax assets on the basis of management’s reassessment of the amount of the deferred tax assets that are more likely than not to be realized. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. As of June 30, 2023, in part because in the current year we achieved three years of cumulative pretax income in the U.S. federal tax jurisdiction, management determined that there is sufficient positive evidence to conclude that it is more likely than not that additional deferred tax assets of $ 31.3 million associated with our investments in partnership, U.S. net operating losses, interest limitations, and tax credit carryforwards are realizable. We therefore reduced the valuation allowance accordingly in the second quarter of 2023. We maintain a partial valuation allowance on our investments in partnership related to the portion of the basis difference that will only reverse upon the sale of our interests, which would result in a capital loss that we do not expect to be able to utilize. Certain tax attributes remain subject to an annual limitation under Section 382 of the IRC as a result of the historical acquisitions. During the three months ended June 30, 2023, we received a refund associated with our 2021 tax filing in the amount of $ 7.8 million, including interest. A long-term unrecognized tax benefit liability was established in connection with this amount during the quarter as the refund benefit remains uncertain . Tax Receivable Agreement In conjunction with the Secondary Offering, Hoya Topco exchanged Intermediate Units, and as a result, we recorded a liability of $ 99.0 million and a deferred tax asset of $ 52.8 million related to the Secondary Offering as well as the projected payments under the Tax Receivable Agreement, with a corresponding reduction to additional paid-in capital of $ 46.1 million. Payments pursuant to the Tax Receivable Agreement relating to the Secondary Offering are expected to begin during the year ending December 31, 2025. Amounts payable under the Tax Receivable Agreement are contingent upon the generation of future taxable income over the term of the Tax Receivable Agreement and future changes in tax laws. If we do not generate sufficient taxable income in the aggregate over the term of the Tax Receivable Agreement to utilize the tax benefits, then we would not be required to make the related payments. As of June 30, 2023, we estimate that the tax savings associated with all tax attributes described above would aggregate to approximately $ 116.4 million. Under this scenario we would be required to pay approximately 85 % of such amount, or $ 99.0 million, primarily over the next 15 years. As of June 30, 2023, there are no amounts due within 12 months.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	14. Equity-Based Compensation The 2021 Incentive Award Plan ("2021 Plan") was approved and adopted in order to facilitate the grant of equity incentive awards to our employees, directors and consultants. The 2021 Plan became effective on October 18, 2021 upon closing of the Merger Transaction. Restricted Stock Units ("RSUs") In March 2023, we granted 2.5 million RSUs to certain of our employees at a weighted average grant date fair value of $ 7.17 per share. In May 2023, we granted less than 0.1 million RSUs to certain of our employees at a weighted average grant date fair value of $ 7.67 per share. RSUs granted to employees vest over three years, with one-third vesting on the one-year anniversary of the grant date and the remaining portion vesting on a quarterly basis thereafter, subject to the employee’s continued employment through the applicable vesting date. In June 2023, we granted 0.1 million RSUs to our directors at a weighted average grant date fair value of $ 7.68 per share. RSUs granted to directors fully vest on the earlier of (i) one day prior to the date of our first annual meeting of stockholders following the grant date and (ii) the one-year anniversary of the grant date, subject to the director's continued service on our Board. In June 2023, we granted less than 0.1 million RSUs to certain of our consultants at a weighted average grant date fair value of $ 7.98 per share. RSUs granted to consultants vest in equal annual installments over three years, subject to the consultant's continued service. We account for forfeitures of outstanding, but unvested grants, in the period they occur. During the three and six months ended June 30, 2023, 0.1 million RSUs were forfeited. During the three and six months ended June 30, 2022, less than 0.1 million and 0.1 million RSUs were forfeited, respectively. During the three and six months ended June 30, 2 023, 0.2 million and 0.7 million RSUs vested, respectively. During the three and six months ended June 30, 2022, less than 0.1 million and 0.1 million RSUs vested, respectively. At June 30, 2023, and December 31, 2022, there were 4.3 million and 2.6 million RSUs outstanding, respectively. Stock options In March 2023, we granted 3.6 million stock options to certain of our employees at an exercise price of $ 7.17 . The grant date fair value of the stock options is $ 3.30 per option. Stock options provide for the purchase of shares of our Class A common stock in the future at an exercise price set on the grant date. These stock options vest over three years , with one-third vesting on the one-year anniversary of the grant date and the remaining portion vesting on a quarterly basis thereafter. The stock options have a contractual term of ten years from the grant date, subject to the employee’s continued employment through the applicable vesting date. The fair value of stock options granted is estimated on the grant date using the Black-Scholes model. In June 2023, we granted 0.9 million stock options divided into three tranches, 0.2 million, 0.3 million and 0.4 million, respectively, to certain of our consultants at exercise prices of $ 7.98 , $ 17.00 and $ 23.00 , respectively. The grant date fair value of the stock options is $ 3.22 , $ 1.87 and $ 1.44 per option, respectively. Stock options provide for the purchase of shares of our Class A common stock in the future at an exercise price set on the grant date. These stock options vest in equal annual installments over three years. The stock options have a contractual term of seven years from the grant date, subject to the consultants' continued service through the applicable vesting date. The fair value of stock options granted is estimated on the grant date using the Hull White model. The following assumptions were used to calculate the fair value of our stock options: June 14, 2023 March 10, 2023 Volatility 42.0 % 42.0 % Expected term (years) 7.0 5.9 Risk-free rate 4.0 % 3.9 % Dividend yield 0.0 % 0.0 % At June 30, 2023 and December 31, 2022, there were 10.6 million and 6.1 million stock options outstanding, respectively. No stock options were exercised during the three and six months ended June 30, 2023 and 2022. During the three and six months ended June 30, 2023, less than 0.1 million stock options were forfeited or expired. During the three and six months ended June 30, 2022, no stock options were forfeited or expired. Compensation expense For the three and six months ended June 30, 2023, equity-based compensation expense related to RSUs was $ 3.9 million and $ 6.6 million, respectively, compared to $ 2.4 million and $ 3.7 million for the three and six months ended June 30, 2022, respectively. Unrecognized compensation expense relating to unvested RSUs as of June 30, 2023 was $ 39.3 million, which is expected to be recognized over a weighted average period of approximately two years . For the three and six months ended June 30, 2023, equity-based compensation expense related to stock options was $ 2.7 million and $ 4.5 million, respectively, compared to $ 1.8 million and $ 2.9 million for the three and six months ended June 30, 2022, respectively. Unrecognized compensation expense relating to unvested stock options as of June 30, 2023 was $ 28.2 million, which i s expected to be recognized over a weighted average period of approximately two years . For the three and six months ended June 30, 2023, equity-based compensation expense related to profit interests was $ 1.0 million and $ 2.0 million, respectively. For the three and six months ended June 30, 2022, equity-based compensation expense related to profit interests was $ 1.2 million and $ 2.3 million, respectively. Unrecognized compensation expense relating to these profit interests as of June 30, 2023 was $ 2.5 million, which is expected to be recognized over a weighted average period of approximately two years .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	15. Earnings Per Share We calculate basic and diluted net income per share of Class A common stock in accordance with ASC 260, Earnings per Share . Our Class B common stock does not have economic rights in our Company and, as a result, is not considered a participating security for basic and diluted income per share. As such, basic and diluted income per share of our Class B common stock has not been presented. However, holders of our Class B common stock are allocated income in Hoya Intermediate (our operating entity) according to their weighted average percentage ownership of Intermediate Units during each quarter. Net income attributable to redeemable noncontrolling interests is calculated by multiplying Hoya Intermediate's net income for each quarterly period by Hoya Topco's weighted average percentage ownership of Intermediate Units during the period. Hoya Topco has the right to exchange its Intermediate Units for shares of our Class A common stock on a one-to-one basis or for cash proceeds of equal value at the time of redemption. The option to redeem Intermediate Units for cash proceeds must be approved by our Board, which as of June 30, 2023, is controlled by investors in Hoya Topco. The ability to put Intermediate Units is solely within the control of the holder of the redeemable noncontrolling interests. If Hoya Topco elects for a redemption to be settled in cash, the cash used to settle the redemption must be funded through a private or public offering of our Class A common stock and is subject to our Board's approval. The following table provides net income attributable to Hoya Topco's redeemable noncontrolling interests (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income—Hoya Intermediate $ 13,646 $ 24,060 $ 44,002 $ 27,198 Hoya Topco’s weighted average % allocation of Hoya Intermediate's net income 55.8 % 59.9 % 58.4 % 59.9 % Net income attributable to Hoya Topco's redeemable noncontrolling interests $ 7,614 $ 14,405 $ 25,704 $ 16,284 Net income attributable to Class A common stockholders–basic is calculated by subtracting the portion of Hoya Intermediate's net income attributable to redeemable noncontrolling interests from our total net income, which includes our net income for activities outside of our investment in Hoya Intermediate as well as the full results of Hoya Intermediate on a consolidated basis. Net income per Class A common stock–diluted is based on the average number of shares of our Class A common stock used for the basic earnings per share calculation, adjusted for the weighted-average number of Class A common share equivalents outstanding for the period determined using the treasury stock method and if-converted method, as applicable. Net income attributable to Class A common stockholders–diluted is adjusted for (i) our share of Hoya Intermediate’s consolidated net income after giving effect to Intermediate Units that convert into potential shares of our Class A common stock, to the extent it is dilutive, and (ii) the impact of changes in the fair value of Hoya Intermediate Warrants, to the extent they are dilutive. The following table sets forth the computation of basic and diluted net income per share of Class A common stock for the periods in which shares of our Class A and Class B common stock were outstanding (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator—basic: Net income $ 38,326 $ 24,060 $ 68,598 $ 27,198 Less: Income attributable to redeemable noncontrolling interests 7,614 14,405 25,704 16,284 Net income attributable to Class A Common Stockholders—basic 30,712 9,655 42,894 10,914 Denominator—basic: Weighted average Class A common stock outstanding—basic 85,269,196 79,256,354 81,319,369 79,204,430 Net income per Class A common stock—basic $ 0.36 $ 0.12 $ 0.53 $ 0.14 Numerator—diluted: Net income attributable to Class A Common Stockholders—basic $ 30,712 $ 9,655 $ 42,894 $ 10,914 Net income effect of dilutive securities: Effect of Exercise Warrants — — — 43 Effect of RSUs 18 — 47 1 Effect of noncontrolling interests 8,765 — 25,605 — Net income attributable to Class A Common Stockholders—diluted 39,495 9,655 68,546 10,958 Denominator—diluted: Weighted average Class A common stock outstanding—basic 85,269,196 79,256,354 81,319,369 79,204,430 Weighted average effect of dilutive securities: Effect of Noncontrolling Interests 110,662,222 — 114,451,934 — Effect of Exercise Warrants — — — 517,812 Effect of RSUs 446,052 2,663 356,956 15,340 Weighted average Class A common stock outstanding—diluted 196,377,470 79,259,017 196,128,259 79,737,582 Net income per Class A common stock—diluted $ 0.20 $ 0.12 $ 0.35 $ 0.14 Potential shares of Class A common stock are excluded from the computation of diluted net income per share of Class A common stock if their effect would have been anti-dilutive for the period presented or if the issuance of shares is contingent upon events that did not occur by the end of the period. The dilution reflected in diluted net income per share of Class A common stock during the three and six months ended June 30, 2023 relates primarily to an assumed conversion of our noncontrolling interests to Class A common stock, which would not have a commensurate effect on net income, primarily due to the release of the valuation allowance which benefit is attributable to VSI only. The following table presents potentially dilutive securities excluded from the computation of diluted net income per share of Class A common stock for the periods presented that could potentially dilute earnings per share in the future: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 RSUs 1,726,048 2,838,717 1,065,396 1,418,091 Stock options 10,597,528 6,660,995 10,597,528 6,660,995 Public Warrants and Private Warrants 13,286,644 13,286,644 13,286,644 13,286,644 Exercise Warrants 34,000,000 34,000,000 34,000,000 17,000,000 Hoya Intermediate Warrants 6,000,000 6,000,000 6,000,000 6,000,000 Noncontrolling Interests — 118,200,000 — 118,200,000

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2023
Subsequent Event [Line Items]
Subsequent Events	16. Subsequent Events In July 2023, we made a $ 6.0 million investment in a privately held company pursuant to a convertible promissory note (the “Note”). Interest on the Note accrues at 8 % per annum and outstanding principal and accrued interest is due and payable on July 3, 2030 . We also received a warrant to purchase up to 1,874,933 shares of the privately held company's stock, which is exercisable until the date three years after the Note is repaid, subject to certain accelerating events. On August 4, 2023, we entered into a definitive agreement to acquire 100 % ownership of WD Holdings Co., Ltd., an online ticket marketplace headquartered in Tokyo, Japan. The agreed upon purchase price was JPY 10,935.6 million, or approximately $ 77.2 million based on the exchange rate in effect on that date. We plan to finance the transaction at closing with cash on hand, as well as cash balances acquired in the transaction. The transaction is expected to close in the third quarter of 2023, subject to regulatory requirements and other customary closing conditions.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Hoya Intermediate, LLC
Disaggregation of Revenue [Line Items]
Schedule of Market Place Revenues	Marketplace revenues consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Marketplace revenues: Owned Properties $ 103,413 $ 98,564 $ 206,228 $ 182,230 Private Label 35,737 31,350 69,503 58,200 Total Marketplace revenues $ 139,150 $ 129,914 $ 275,731 $ 240,430 Marketplace revenues consisted of the following event categories (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Marketplace revenues: Concerts $ 77,741 $ 65,816 $ 152,620 $ 124,489 Sports 45,349 51,285 90,949 90,200 Theater 15,527 11,856 30,917 24,471 Other 533 957 1,245 1,270 Total Marketplace revenues $ 139,150 $ 129,914 $ 275,731 $ 240,430

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	The following tables represent our segment information (in thousands): Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Marketplace Resale Consolidated Marketplace Resale Consolidated Revenues $ 139,150 $ 26,230 $ 165,380 $ 275,731 $ 50,712 $ 326,443 Cost of revenues (exclusive of depreciation and amortization shown separately below) 22,766 19,850 42,616 42,826 37,550 80,376 Marketing and selling 65,192 — 65,192 119,964 — 119,964 Contribution margin $ 51,192 $ 6,380 57,572 $ 112,941 $ 13,162 126,103 General and administrative 38,307 70,696 Depreciation and amortization 2,704 5,302 Change in fair value of contingent consideration ( 1,052 ) ( 1,018 ) Income from operations 17,613 51,123 Interest expense – net 2,772 6,052 Other income 1,000 673 Income before income taxes $ 13,841 $ 44,398 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Marketplace Resale Consolidated Marketplace Resale Consolidated Revenues $ 129,914 $ 17,780 $ 147,694 $ 240,430 $ 38,036 $ 278,466 Cost of revenues (exclusive of depreciation and amortization shown separately below) 18,553 13,869 32,422 34,962 29,624 64,586 Marketing and selling 59,412 — 59,412 113,640 — 113,640 Contribution margin $ 51,949 $ 3,911 55,860 $ 91,828 $ 8,412 100,240 General and administrative 36,207 65,482 Depreciation and amortization 1,726 3,111 Income from operations 17,927 31,647 Interest expense – net 2,699 6,641 Loss on extinguishment of debt — 4,285 Other expenses ( 8,832 ) ( 6,553 ) Income before income taxes $ 24,060 $ 27,274

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): June 30, 2023 December 31, 2022 Recovery of future customer compensation $ 40,827 $ 23,311 Prepaid expenses 5,121 6,032 Other current assets 660 569 Total prepaid expenses and other current assets $ 46,608 $ 29,912

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Schedule of Goodwill and Intangible Assets	The net changes in the carrying amounts of our intangible assets and goodwill were as follows (in thousands): Definite-lived Intangible Assets Trademark Goodwill Balance at January 1, 2023 $ 17,310 $ 64,666 $ 715,258 Capitalized development costs 4,667 — — Disposals ( 10 ) — — Amortization ( 4,602 ) — — Balance at June 30, 2023 $ 17,365 $ 64,666 $ 715,258 Definite-lived Intangible Assets Trademark Goodwill Balance at January 1, 2022 $ 13,845 $ 64,666 $ 718,204 Betcha acquisition adjustment ( 890 ) — ( 2,946 ) Capitalized development costs 5,394 — — Amortization ( 2,948 ) — — Balance at June 30, 2022 $ 15,401 $ 64,666 $ 715,258

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): June 30, 2023 December 31, 2022 Accrued marketing expense $ 31,061 $ 26,873 Accrued taxes 540 542 Accrued customer credits 75,136 88,167 Accrued future customer compensation 47,314 30,181 Accrued contingencies 3,480 5,898 Accrued payroll 8,341 10,660 Other current liabilities 26,166 19,649 Total accrued expenses and other current liabilities $ 192,038 $ 181,970

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Outstanding debt	Our outstanding debt is comprised of the following (in thousands): June 30, 2023 December 31, 2022 February 2022 First Lien Loan $ 271,563 $ 272,938 Total long-term debt, gross 271,563 272,938 Less: unamortized debt issuance costs ( 4,940 ) ( 5,290 ) Total long-term debt, net of issuance costs 266,623 267,648 Less: current portion ( 2,750 ) ( 2,750 ) Total long-term debt, net $ 263,873 $ 264,898

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Summary of Fair Value of Option Contingent Warrants	June 30, 2023 December 31, 2022 Estimated volatility 38.0 % 39.0 % Expected term (years) 8.3 8.8 Risk-free rate 3.9 % 3.9 % Expected dividend yield 0.0 % 0.0 %

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Fair Value Assumptions for Stock Option at the Date of Grant	The following assumptions were used to calculate the fair value of our stock options: June 14, 2023 March 10, 2023 Volatility 42.0 % 42.0 % Expected term (years) 7.0 5.9 Risk-free rate 4.0 % 3.9 % Dividend yield 0.0 % 0.0 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Net Income Attributable to Redeemable Noncontrolling Interests	The following table provides net income attributable to Hoya Topco's redeemable noncontrolling interests (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net income—Hoya Intermediate $ 13,646 $ 24,060 $ 44,002 $ 27,198 Hoya Topco’s weighted average % allocation of Hoya Intermediate's net income 55.8 % 59.9 % 58.4 % 59.9 % Net income attributable to Hoya Topco's redeemable noncontrolling interests $ 7,614 $ 14,405 $ 25,704 $ 16,284
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net income per share of Class A common stock for the periods in which shares of our Class A and Class B common stock were outstanding (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator—basic: Net income $ 38,326 $ 24,060 $ 68,598 $ 27,198 Less: Income attributable to redeemable noncontrolling interests 7,614 14,405 25,704 16,284 Net income attributable to Class A Common Stockholders—basic 30,712 9,655 42,894 10,914 Denominator—basic: Weighted average Class A common stock outstanding—basic 85,269,196 79,256,354 81,319,369 79,204,430 Net income per Class A common stock—basic $ 0.36 $ 0.12 $ 0.53 $ 0.14 Numerator—diluted: Net income attributable to Class A Common Stockholders—basic $ 30,712 $ 9,655 $ 42,894 $ 10,914 Net income effect of dilutive securities: Effect of Exercise Warrants — — — 43 Effect of RSUs 18 — 47 1 Effect of noncontrolling interests 8,765 — 25,605 — Net income attributable to Class A Common Stockholders—diluted 39,495 9,655 68,546 10,958 Denominator—diluted: Weighted average Class A common stock outstanding—basic 85,269,196 79,256,354 81,319,369 79,204,430 Weighted average effect of dilutive securities: Effect of Noncontrolling Interests 110,662,222 — 114,451,934 — Effect of Exercise Warrants — — — 517,812 Effect of RSUs 446,052 2,663 356,956 15,340 Weighted average Class A common stock outstanding—diluted 196,377,470 79,259,017 196,128,259 79,737,582 Net income per Class A common stock—diluted $ 0.20 $ 0.12 $ 0.35 $ 0.14
Summary of Potentially Dilutive Securities	The following table presents potentially dilutive securities excluded from the computation of diluted net income per share of Class A common stock for the periods presented that could potentially dilute earnings per share in the future: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 RSUs 1,726,048 2,838,717 1,065,396 1,418,091 Stock options 10,597,528 6,660,995 10,597,528 6,660,995 Public Warrants and Private Warrants 13,286,644 13,286,644 13,286,644 13,286,644 Exercise Warrants 34,000,000 34,000,000 34,000,000 17,000,000 Hoya Intermediate Warrants 6,000,000 6,000,000 6,000,000 6,000,000 Noncontrolling Interests — 118,200,000 — 118,200,000

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Market Place Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Marketplace revenues:
Total Marketplace revenues	$ 139,150	$ 129,914	$ 275,731	$ 240,430
Owned Properties
Marketplace revenues:
Total Marketplace revenues	103,413	98,564	206,228	182,230
Private Label
Marketplace revenues:
Total Marketplace revenues	35,737	31,350	69,503	58,200
Concerts
Marketplace revenues:
Total Marketplace revenues	77,741	65,816	152,620	124,489
Sports
Marketplace revenues:
Total Marketplace revenues	45,349	51,285	90,949	90,200
Theater
Marketplace revenues:
Total Marketplace revenues	15,527	11,856	30,917	24,471
Other
Marketplace revenues:
Total Marketplace revenues	$ 533	$ 957	$ 1,245	$ 1,270

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from Related Parties	$ 26,200	$ 17,800	$ 50,700	$ 38,000
Deferred revenue	30,070		30,070		$ 31,983	$ 25,100
Deferred Revenue, Revenue Recognized	$ 800	$ 2,000	$ 11,700	$ 6,000

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Depreciation and amortization					$ 5,302	$ 3,111
Change in fair value of contingent consideration					1,018	0
Loss on extinguishment of debt					0	(4,285)
Net income attributable to Class A Common Stockholders	$ 30,712	$ 12,182	$ 9,655	$ 1,259
Subsidiaries [Member]
Segment Reporting Information [Line Items]
Revenues	165,380		147,694		326,443	278,466
Cost of revenues (exclusive of depreciation and amortization shown separately below)	42,616		32,422		80,376	64,586
General and administrative	38,307		36,207		70,696	65,482
Depreciation and amortization	2,704		1,726		5,302	3,111
Change in fair value of contingent consideration	1,052		0		1,018	0
Income from operations	17,613		17,927		51,123	31,647
Interest expense – net	2,772		2,699		6,052	6,641
Loss on extinguishment of debt	0		0		0	(4,285)
Other (income) expense	1,000		(8,832)		673	(6,553)
Net income attributable to Class A Common Stockholders	30,712		9,655		42,894	10,914
Marketplace | Subsidiaries [Member]
Segment Reporting Information [Line Items]
Revenues	139,150		129,914		275,731	240,430
Cost of revenues (exclusive of depreciation and amortization shown separately below)	22,766		18,553		42,826	34,962
Marketing and selling expenses	65,192		59,412		119,964	113,640
Contribution margin	51,192		51,949		112,941	91,828
Resale | Subsidiaries [Member]
Segment Reporting Information [Line Items]
Revenues	26,230		17,780		50,712	38,036
Cost of revenues (exclusive of depreciation and amortization shown separately below)	19,850		13,869		37,550	29,624
Marketing and selling expenses	0		0		0	0
Contribution margin	6,380		3,911		13,162	8,412
Consolidated | Subsidiaries [Member]
Segment Reporting Information [Line Items]
Revenues	165,380		147,694		326,443	278,466
Cost of revenues (exclusive of depreciation and amortization shown separately below)	42,616		32,422		80,376	64,586
Marketing and selling expenses	65,192		59,412		119,964	113,640
Contribution margin	57,572		55,860		126,103	100,240
General and administrative	38,307		36,207		70,696	65,482
Depreciation and amortization	2,704		1,726		5,302	3,111
Change in fair value of contingent consideration	(1,052)				(1,018)
Income from operations	17,613		17,927		51,123	31,647
Interest expense – net	2,772		2,699		6,052	6,641
Loss on extinguishment of debt			0			4,285
Other (income) expense	1,000		(8,832)		673	(6,553)
Net income attributable to Class A Common Stockholders	$ 13,841		$ 24,060		$ 44,398	$ 27,274

Accounts Receivable - Net (Addi

Accounts Receivable - Net (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Accounts receivable net	$ 9,900		$ 9,900		$ 1,000
Accounts receivable	46,301		46,301		36,531
Allowance for doubtful accounts	3,000		3,000		100
Accounts receivable write offs	0	$ 0	0	$ 0
Distribution Partners [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable net	11,900		11,900		11,700
Allowance for doubtful accounts	4,400		4,400		3,600
Uncollateralized Payment [Member]
Financing Receivable, Past Due [Line Items]
Accounts receivable net	$ 22,200		$ 22,200		$ 18,900

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Recovery of future customer compensation	$ 40,827	$ 23,311
Prepaid expenses	5,121	6,032
Other current assets	660	569
Total prepaid expenses and other current assets	$ 46,608	$ 29,912

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Change in recovery of future customer compensation	$ 17.5

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill [Line Items]
Amortization of intangible assets	$ 2.3	$ 1.6	$ 4.6	$ 2.9
Impairment			563.2		$ 563.2
Developed Technology
Goodwill [Line Items]
Carrying Amount of Definite Lived Intangible Assets	17.4		17.4		17.3
Accumulated amortization	$ 14.3		$ 14.3		$ 9.6

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill [Member]
Goodwill [Line Items]
Beginning balance	$ 715,258	$ 718,204
Betcha acquisition adjustment		(2,946)
Capitalized development costs	0	0
Disposals	0
Amortization	0	0
Ending balance	715,258	715,258
Definite-lived Intangible Assets [Member]
Goodwill [Line Items]
Beginning balance	17,310	13,845
Betcha acquisition adjustment		(890)
Capitalized development costs	4,667	5,394
Disposals	(10)
Amortization	(4,602)	(2,948)
Ending balance	17,365	15,401
Trademarks [Member]
Goodwill [Line Items]
Beginning balance	64,666	64,666
Betcha acquisition adjustment		0
Capitalized development costs	0	0
Disposals	0
Amortization	0	0
Ending balance	$ 64,666	$ 64,666

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Accrued marketing expense	$ 31,061	$ 26,873
Accrued taxes	540	542
Accrued customer credits	75,136	88,167
Accrued future customer compensation	47,314	30,181
Accrued Contingencies	3,480	5,898
Accrued payroll	8,341	10,660
Other current liabilities	26,166	19,649
Total accrued expenses and other current liabilities	$ 192,038	$ 181,970

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Customer credits redeemed	$ 2.6	$ 7.5	$ 5.2	$ 17.3
Revenue from breakage	6.1	2.6	10.7	3.2
Increase and decrease in revenue	1.1	$ 5.2	0.2	$ 3.4
Milestone payment	$ 2.5		$ 2.5

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Extinguishment Of Debt [Line Items]
Total long-term debt, gross	$ 271,563	$ 272,938
Less: unamortized debt issuance costs	(4,940)	(5,290)
Total long-term debt, net of issuance costs	266,623	267,648
Less: current portion	(2,750)	(2,750)
Total long-term Debt, net	263,873	264,898
February 2022 First Lien Loan
Extinguishment Of Debt [Line Items]
Total long-term debt, gross	$ 271,563	$ 272,938

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)			1 Months Ended	6 Months Ended
	Feb. 03, 2022	Oct. 28, 2019	Jun. 30, 2017	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Oct. 18, 2021	Jul. 02, 2018
Line of Credit Facility [Line Items]
Loss on extinguishment of debt				$ 0	$ (4,285,000)
Maturity date				Feb. 03, 2029
Amortization payments				$ 453,000	575,000
June 2017 First Lien Loan
Line of Credit Facility [Line Items]
Long-term Line of Credit			$ 575,000,000
Proceeds from Revolving Facility			50,000,000
June 2017 Second Lien-Loan
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 275,000,000		185,000,000
Line of Credit Up-sized								$ 115,000,000
Debt Instrument, Redemption Period, End Date		Oct. 28, 2019
Repayments of debt	190,700,000
February 2022 First Lien Loan
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 275,000,000
Loss on extinguishment of debt					$ 4,300,000
Amortization payments				$ 700,000
Effective interest rate				8.71%		7.98%
Revolving Credit Facility | June 2017 Second Lien-Loan
Line of Credit Facility [Line Items]
Long-term Line of Credit			$ 525,000,000
Revolving Credit Facility | February 2022 First Lien Loan
Line of Credit Facility [Line Items]
Proceeds from Revolving Facility				$ 100,000,000
Outstanding Borrowings				$ 0
Merger Transaction
Line of Credit Facility [Line Items]
Loan principal payments							$ 148,200,000
SOFR Rate
Line of Credit Facility [Line Items]
Effective interest rate				3.25%
SOFR Rate | February 2022 First Lien Loan
Line of Credit Facility [Line Items]
Floor Rate				0.50%

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended
	Jun. 15, 2023	May 22, 2023	May 25, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Available For Sale Securities [Line Items]
Derivative warrant liability				$ 20,400		$ 20,400
Fair value of option contingent warrants						1,600
Fair Value Adjustment of Warrants						$ 673	$ (6,553)
Dollar Ten Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 10		$ 10
Class A Warrants				17,000,000		17,000,000
Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant expiration period				10 years		10 years
Hoya Intermediate Warrants
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				1,000,000		1,000,000
Fair value of option contingent warrants				$ 1,000	$ 8,800	$ 700	$ 6,600
Horizon Sponsor LLC | Dollar Ten Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 10		$ 10
Hoya Topco L L C [Member] | Secondary Offering
Schedule Of Available For Sale Securities [Line Items]
Sales price, per share				$ 7.68		$ 7.68
Hoya Topco L L C [Member] | Hoya Intermediate Warrants
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				3,000,000		3,000,000
Warrant exercise price per share				$ 15		$ 15
Hoya Intermediate, LLC
Schedule Of Available For Sale Securities [Line Items]
Options forfeited or expiired						$ 100
Warrant Purchased						17,000,000
Number of shares authorized to be repurchased			5,300,000
Payment of Commission			$ 100
Stock repurchased during period				0
Hoya Intermediate, LLC | Secondary Offering
Schedule Of Available For Sale Securities [Line Items]
Sales price, per share				$ 8		$ 8
Marketing and selling expenses				$ 1,500
Hoya Intermediate, LLC | Dollar Ten Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 10		10
Mirror Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 11.5		$ 11.5
Class A Warrants				13,286,644		13,286,644
Warrant Purchased						24,652,557
Mirror Warrants | Dollar Ten Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 10		$ 10
Class A Warrants				17,000,000		17,000,000
Mirror Warrants | Dollar Fifteen Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 15		$ 15
Class A Warrants				17,000,000		17,000,000
Warrants | Horizon Sponsor LLC
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				5,166,666		5,166,666
Warrants | Horizon Sponsor LLC | Class A Public Warrants
Schedule Of Available For Sale Securities [Line Items]
Class A Warrants				6,766,853		6,766,853
Private Warrants
Schedule Of Available For Sale Securities [Line Items]
Class A Warrants				6,519,791		6,519,791
Common Stock | Hoya Topco L L C [Member]
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				3,000,000		3,000,000
Warrant exercise price per share				$ 10		$ 10
Class A Common Stock | Dollar Fifteen Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 15		$ 15
Class A Warrants				17,000,000		17,000,000
Class A Common Stock | Horizon Sponsor LLC | Dollar Ten Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				17,000,000		17,000,000
Warrant exercise price per share				$ 10		$ 10
Class A Common Stock | Horizon Sponsor LLC | Dollar Fifteen Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				17,000,000		17,000,000
Warrant exercise price per share				$ 15		$ 15
Class A Common Stock | Hoya Topco L L C [Member] | Secondary Offering
Schedule Of Available For Sale Securities [Line Items]
Proceeds from sale of shares				$ 0
Class A Common Stock | Hoya Intermediate, LLC
Schedule Of Available For Sale Securities [Line Items]
Number of securities called by warrants				17,000,000		17,000,000
Share repurchase program, authorized amount			$ 40,000
Class A Common Stock | Hoya Intermediate, LLC | Secondary Offering
Schedule Of Available For Sale Securities [Line Items]
Number of shares issued	2,400,000	16,000,000		18,400,000
Shares sold by stockholder				18,400,000
Class A Common Stock | Hoya Intermediate, LLC | Dollar Fifteen Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 15		$ 15
Class A Common Stock | Mirror Warrants | Dollar Fifteen Exercise Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant Purchased						15
Class A Common Stock | Warrants | Class A Public Warrants
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				11.5		$ 11.5
Class A Common Stock | Warrants | Horizon Sponsor LLC
Schedule Of Available For Sale Securities [Line Items]
Stock issued during period, shares						18,132,776
Class A Common Stock | Private Warrants | Horizon Sponsor LLC | Class A Private Warrants [Member]
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 11.5		$ 11.5
Stock issued during period, shares						6,519,791
Class B Common Stock | Hoya Intermediate, LLC | Secondary Offering
Schedule Of Available For Sale Securities [Line Items]
Exchanged shares by stockholder				18,400,000
Minimum
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 10		$ 10
Maximum
Schedule Of Available For Sale Securities [Line Items]
Warrant exercise price per share				$ 15		$ 15

Financial Instruments - Summary

Financial Instruments - Summary of Fair Value of Option Contingent Warrants (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Estimated volatility	38%	39%
Expected term (years)	8 years 3 months 18 days	8 years 9 months 18 days
Risk-free rate	3.90%	3.90%
Expected dividend yield	0%	0%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Nov. 01, 2021	Jun. 30, 2023	Dec. 31, 2022	Jul. 31, 2022
Hoya Intermediate, LLC
Termination date	Nov. 01, 2021
Hoya Intermediate, LLC | Maximum [Member]
Claim settlement pool				$ 2.5
Hoya Intermediate, LLC | Prepaid Expenses and Other Current Assets [Member]
Claim settlement pool		$ 4.5
Hoya Intermediate, LLC | Canada
Accrued liabilities		0.9	$ 0.9
Accrued Liabilities [Member]
Accrued liabilities		$ 0.1	$ 1.6

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Tax receivable agreement percentage of amount of tax savings			85%
Liability from secondary offering			$ 99,000,000
Tax receivable agreement, amount due for payments	$ 0		0
Adjustments to Additional Paid in Capital			(46,100,000)
Increase in deferred tax assets			52,845,000	$ 0
Vivid Cheers [Member]
Related Party Transaction [Line Items]
Accrued charitable contributions payable	0	$ 100,000	0	600,000
Accrued charitable contributions payable	0		0		$ 0
Viral [Member]
Related Party Transaction [Line Items]
Marketing and selling expenses	100,000	500,000	100,000	600,000
Rolling Stone [Member]
Related Party Transaction [Line Items]
Marketing and selling expenses	300,000	0	600,000	100,000
Khoros LLC [Member]
Related Party Transaction [Line Items]
Marketing and selling expenses	$ 100,000	$ 100,000	$ 100,000	$ 100,000

Income Taxes (Additional Inform

Income Taxes (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit) continuing operations	$ (24,500)	$ 100	$ (24,200)	$ 100
Increase in deferred tax assets			52,845	$ 0
Income tax refund from authority	7,800		7,800
Liability from secondary offering			99,000
Deferred tax assets	31,300		$ 31,300
State and Federal Net Operating Loss Rate			21%
Tax credit carryforwards	$ 25,300		$ 25,300
Adjustments to Additional Paid in Capital			$ (46,100)
Tax receivable agreement percentage of amount of tax savings			85%
Aggregate tax amount saved			$ 116,400
Percentage of tax payable under tax receivable agreement	85%		85%
Amount of tax payable under tax receivable agreement			$ 99,000
Tax receivable agreement, amount due for payments	$ 0		$ 0
Tax receivable agreement period due for payments			15 years

Equity-Based Compensation (Addi

Equity-Based Compensation (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended		6 Months Ended
	Jun. 30, 2023	May 31, 2023	Mar. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted	100,000	100,000	2,500,000
Vested, amount				$ 0.2	$ 0.1	$ 0.7	$ 0.1
Weighted average, term						2 years
Outstanding Options, Forfeited				100,000	100,000	100,000	100,000
Weighted average grant date fair value	$ 7.68	$ 7.67	$ 7.17
Shares Outstanding	4,300,000			4,300,000		4,300,000		2,600,000
Unrecognized compensation expense						$ 39.3
Equity-based compensation expense				$ 3.9	$ 2.4	$ 6.6	$ 3.7
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period			3 years
Weighted average, term			10 years			2 years
Stock Option Exercise Price			$ 7.17	$ 0	$ 0	$ 0	$ 0
Outstanding Options, Granted	900,000		3,600,000
Outstanding Options, Forfeited				100,000	0	100,000	0
Weighted average grant date fair value						$ 3.3
Stock options outstanding	10,600,000			10,600,000		10,600,000		6,100,000
Unrecognized compensation expense						$ 28.2
Equity-based compensation expense				$ 2.7	$ 1.8	4.5	$ 2.9
Profit Interests [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense						2.5
Equity-based compensation expense				$ 1	$ 1.2	$ 2	$ 2.3
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition						2 years
Tranche One | Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Option Exercise Price	$ 7.98
Outstanding Options, Granted	200,000
Weighted average grant date fair value						$ 3.22
Tranche Two | Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Option Exercise Price	$ 17
Outstanding Options, Granted	300,000
Weighted average grant date fair value						1.87
Tranche Three | Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Option Exercise Price	$ 23
Outstanding Options, Granted	400,000
Weighted average grant date fair value						$ 1.44
Maximum | RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted	100,000
Weighted average grant date fair value	$ 7.98

Equity-Based Compensation - Fai

Equity-Based Compensation - Fair Value Assumptions for Stock Option at the Date of Grant (Details) - Employee Stock Option	Jun. 14, 2023	Mar. 10, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	42%	42%
Expected term (years)	7 years	5 years 10 months 24 days
Interest rate	4%	3.90%
Dividend yield	0%	0%

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Net Income Attributable to Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 13,646	$ 24,060	$ 44,002	$ 27,198
Hoya Topcos weighted average allocation of Hoya Intermediates net income	55.80%	59.90%	58.40%	59.90%
Net income attributable to Hoya Topco's redeemable noncontrolling interests	$ 7,614	$ 14,405	$ 25,704	$ 16,284
Subsidiaries [Member]
Net income	38,326	24,060	68,598	27,198
Net income attributable to Hoya Topco's redeemable noncontrolling interests	$ 7,614	$ 14,405	$ 25,704	$ 16,284

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator for earnings per share calculation
Net income	$ 13,646	$ 24,060	$ 44,002	$ 27,198
Less: Income attributable to redeemable noncontrolling interests	7,614	14,405	25,704	16,284
Subsidiaries [Member]
Numerator for earnings per share calculation
Net income	38,326	24,060	68,598	27,198
Less: Income attributable to redeemable noncontrolling interests	7,614	14,405	25,704	16,284
Net income attributable to Class A Common Stockholders-diluted	$ 30,712	$ 9,655	$ 42,894	$ 10,914
Denominator for earnings per share calculation
Weighted average Class A common stock outstanding-basic	85,269,196	79,256,354	81,319,369	79,204,430
Weighted Average Number of Shares Outstanding, Diluted	196,377,470	79,259,017	196,128,259	79,737,582
Basic EPS
Effect of Exercise Warrants	0	0	0	517,812
Effect of RSUs	18	0	47	1
Effect of Noncontrolling Interests	110,662,222		114,451,934	0
Net income per Class A common stock-basic	$ 0.36	$ 0.12	$ 0.53	$ 0.14
Diluted EPS
Net Income (Loss) Available to Common Stockholders, Diluted	$ 30,712	$ 9,655	$ 42,894	$ 10,914
Effect of Exercise Warrants	0	0	0	43
Effect of RSUs	446,052	2,663	356,956	15,340
Effect of dilutive Noncontrolling Interests	8,765	0	25,605	0
Net income per Class A common stock-diluted	$ 0.2	$ 0.12	$ 0.35	$ 0.14
Common Class A [Member] | Subsidiaries [Member]
Numerator for earnings per share calculation
Net income attributable to Class A Common Stockholders-diluted	$ 39,495	$ 9,655	$ 68,546	$ 10,958
Net Income (Loss) Available to Common Stockholders, Basic, Total	$ 30,712	$ 9,655	$ 42,894	$ 10,914
Denominator for earnings per share calculation
Weighted average Class A common stock outstanding-basic	85,269,196	79,256,354	81,319,369	79,204,430
Weighted Average Number of Shares Outstanding, Diluted	196,377,470	79,259,017	196,128,259	79,737,582
Basic EPS
Net income attributable to Class A Common Stockholders-basic	$ 30,712	$ 9,655	$ 42,894	$ 10,914
Net income per Class A common stock-basic	$ 0.36	$ 0.12	$ 0.53	$ 0.14
Diluted EPS
Net Income (Loss) Available to Common Stockholders, Diluted	$ 39,495	$ 9,655	$ 68,546	$ 10,958
Net income per Class A common stock-diluted	$ 0.2	$ 0.12	$ 0.35	$ 0.14

Earnings Per Share - Summary of

Earnings Per Share - Summary of Potentially Dilutive Securities (Details) - Subsidiaries [Member] - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common equivalent units	1,726,048	2,838,717	1,065,396	1,418,091
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common equivalent units	10,597,528	6,660,995	10,597,528	6,660,995
Exercise Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common equivalent units	34,000,000	34,000,000	34,000,000	17,000,000
Hoya Intermediate Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common equivalent units	6,000,000	6,000,000	6,000,000	6,000,000
Public Warrants and Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common equivalent units	13,286,644	13,286,644	13,286,644	13,286,644
Noncontrolling Interest
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common equivalent units	0	118,200,000	0	118,200,000

Subsequent events - Additional

Subsequent events - Additional Information (Details) ¥ in Millions, $ in Millions			1 Months Ended
	Aug. 31, 2023 USD ($)	Aug. 31, 2023 JPY (¥)	Jul. 31, 2023 USD ($) shares
Forecast | Wavedash
Subsequent Event [Line Items]
Ownership percentage	100%	100%
Total Cash Consideration	$ 77.2	¥ 10,935.6
Subsequent Event | Privately Held Company
Subsequent Event [Line Items]
Investment in a privately-held company | $			$ 6
Number of securities called by warrants | shares			1,874,933
Subsequent Event | Privately Held Company | Convertible Promissory Notes
Subsequent Event [Line Items]
Interest rate on covertible promissory note			8%
Maturity date			Jul. 03, 2030