SEAT - Earnings call transcript Q1 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Welcome to the Vivid Seats Q1 2022 Earnings Conference Call. My name is Richard, and I'll be your operator for today's call. [Operator Instructions] As a reminder, the conference is being recorded. I will now turn the call over to Kate Copouls, Head of Investor Relations. Ms. begin. may you Copouls,

Kate Copouls

welcome I Seats of am Seats. at and Earnings Investor Quarter Conference Vivid Call. Kate to morning, First Vivid XXXX Relations Good Copouls, Head

Chia, discuss Financial this Chief By morning. filed first now, access results Joining quarter Larry have Officer. Vivid should the today Officer; and to are me earlier Stan to Chief everyone earnings Executive Fey, release Seats' company's press

The page press on have Vivid release earnings We earnings also investors.vividseats.com. available Relations supplemental slides at the website slides. Investor of provided Seats' are and

During statements the will company's are the are adjusted margin, uncertainties information release federal adjusted These course EBITDA financial refer non-GAAP make of for and and and believe filings this call, call, in statements to within securities our the earnings other EBITDA provide management may press forward-looking subject forward-looking which risks described of with that SEC. measures we to the On useful the meaning investors. we as laws. today's

find will earnings slides to the the supplemental over to adjusted release, a turn would adjusted measure press I other Stan. earnings the and You filings now corresponding of GAAP SEC. to the with and EBITDA like in margin historical reconciliation And call EBITDA

Stan Chia

business. Fans to capitalize ever demand. the excited our you the live over quarter last outpaced joining are achieved thank our the on we performance that and strong everyone, GOV morning, our first The Good with Marketplace to delivered are attend we positioned us to growing today. quarter XXXX, demonstrate highest year you and first Revenues. and eager In for demand consumer are the that across and we we seeing environment. first I'm events, well results and in in quarter speak of record-setting our about QX continued momentum

including Seats over to have continuing made how with progress position our results detail. Vivid Heading we quarter revenue an team, memorable more multiple third which after such, in XXXX, rapidly as on that Marketplace the I'll our continued of Then As share in return. live Larry delivering GOV, to marketplace record the facilitate in to and technology differentiated each discuss XXXX a first we positioned order million this Today, XXXX it EBITDA. finishing products adjusted million of with $XXX we $XX value are gross to engaging results platforms the quarter, fourth second, in revenues quarter well our update and financial guidance. fans. awesome of in $XXX share I'm raised were quarters first for we into and the or turn events in experiences as million win proud and in I'll and

we at to live QX, point, a favorite teams consumer it's the sports and through the and continue other experiences. sit connecting platform growing this fourth And each As strong been technology we and witness supply quarter. From to artists in event saw energy fans intersection their vantage of with that demand. demand or the we exciting and marketplace, the of see in

in-demand And traffic most without building consumers excitement even that tracked versus early single-game of looking Duke the with an in when since college we've we During our March UNC. seen tickets with from NFL March XXXX basketball fall saw Madness, we've season, the website for fans ticket football advance ever spiked schedule.

this in baseball strong is is experiences, desire live from MLB was by clear the a the through which to fulfillment demand stronger for purchasing compared for seeing connection, the we're happen not with there season tickets Additionally, seeing that pandemic. and drive last reflected impacted which season baseball XXXX, even the consumers It's we much delay, patterns. are of

XXXX. ticket of Specifically, increased pre-pandemic tickets X since more than concert has for orders percentage the

committed remain continue consumers out As to of and we seek enabling kind these moments. to connection, empowering this

also whether continue customers, or that to are to with are differentiated sellers. our fans bring success we've We value marketplace investments they our the in made seeing

For at a fans, value technology our delivers industry-leading competitive program. with along an and an rewards tickets superior of powers that extensive depth breadth a marketplace

side, ERP technology supported superior we customer powers right confidence sides collectively to On excellent the the service recognized SkyBox, our for us seller And sellers. that years. leading These Newsweek win. for a have factors truly as give the by our by X the both are last

and have ticket this that fans of such are show as or seen this the Scores. some we used where as peers. Recent product We highest Harris earned we from in Poll, data not who track buyers our sentiment our the us We've the among highest alone as belief. our industry's sellers frequent both percentage well alike, Promoter have recommendation The reflected in both sources Net independent had efforts

platform. an As Alongside will brand in us innovative Marketplace channels performance for our we further invest build GOV. grow believe pillar is to a us investments, be growing what continue Amplifying awareness our company we that continues technology have marketing and our will to maximize onto validated to brand opportunity customer users benefits. our message with important to sentiment, an momentum our and more also differentiates to awareness draw of upon long-term

investments several events retention strategic low efficiency profile. ultimately value least customer While we are will are results we still in at believe ROI and curve as appear view lifetime quarters efforts we said, frequency in early before a margin That these here with a drive J the acquisition profile live benefits. our through and category,

and continue also to live our new with innovate, We to expand and fans. reach offerings evolve engage event

product to user quarter, I strategy. central engagement remains ecosystem As our long-term our said within last

Betcha users users who hyper-growth cross-platform base, investing month a highly app. we the entries started Betcha place than XX those quickly the a daily off Vivid fantasy use active more platforms And Betcha, and our We note on our entries pleased continue engaged, grow to are is play that more we offering. deposit app. Also, are per place are currently infrastructure who to content on and Betcha customers, have those continuing are and in than sports small to frequently, in and solely of average. scale to surfacing both more Seats larger phase

business While a we sports increased will and between events live differentiated interests sports us through and overlap Betcha leverage And profitable engagement live additive. daily our fans high fantasy to the marketplace, acquisition a drive allow events TAM remains in view platform ecosystem. relevant as more and customer core

in building remain our continue we future potential to we and make and products integrating While early excited Betcha's still about progress prospects. are its brand, unlocking and

leveraging and partnerships that also reach while incremental delivering are revenue. We brand amplify awareness

Vivid a branded XXXX significant which and with our partners most television. With leaders, a going wide share year-to-date segment in-demand recently digital across drive all have matchups exclusive margin. And live seen continue to by endemic spotlights efforts the partner category generated launched we Hot ESPN, by outpaced the We event key will we and brand mediums, long-time GOV population. Seats of Ticket, reach who a brand audio,

Additionally, fulfillment experience our We digital-first One by of more exclusive our music inventory, experience in and partnership Rewards and across technology, service a launch customer this cardholders. created sports, Capital Capital booking unforgettable cardholders. experiences with leveraging Entertainment, ticketing capability. access new Rewards March, we for for Vivid Built marketplace strengthened Capital platform unlocks to One One and One with new Seats, this Capital by the powered

leveraging our ecosystem reputation. the improve We other existing while in existing as categories experience well will that our as continue brand, to partnerships beneficial customers traffic seek for in our out mutually and

Ted who has been Officer, and to Before Officer; dedication who tremendous to Riva Larry, been role the to Riva leaders Ted Vivid years. Product and Chief both Strategy who few wanted Chief and and Pickus, promoted I Seats' to past congratulate their over new for the call has turn leadership. promoted have to of thank I are Both Accounting success been Bakal, the integral over proven and

to these were continue we in As and our talent proven support choices. invest natural promotions leaders,

accomplishments Larry. proud and congratulations over confident Vivid And a move at Riva alongside will to our Again, thanks and their us value. forward privileged and them. that, are will deliver to that sincere of to With I'm I shareholder Seats to it and turn work both All continue their Ted. talents business of

Lawrence Fey

I Thank you, record-breaking for am our another continues marketplace to flywheel results present financial quarter as to proud Stan. our yet perform.

in GOV in high the confidence of underlying These give GOV ever highest us unexpectedly strength impact cancellations. to our XXXX despite environment in the the the we Marketplace to of first As Revenue QX XXXX Stan speak achieved quarter results early mentioned, and guidance our and raise revenue the the demand and year.

XXXX, impact of quarter were GOV, given the COVID orders and XXXX. levels pre comparison we well and XXXX First QX which during from as view most above QX period severe marketplace of the revenues relevant COVID all Marketplace

represents size. orders a Average GOV driven by Our XXXX in was to the average quarter, increase for which record was Marketplace and size $XXX order order both QX XX% levels. marketplace increases

of additional historical from of to average by given provide QX included size order XXXX experienced our due COVID. and appendix have this the year quarter We in to order to earnings in average XXXX presentation XXXX size heightened volatility the context

We and up Marketplace have compared QX GOV, million QX to annually. $XXX to historically order substantially revenues average XXXX grow seen Similar both X% X% size were of XXXX. to

was Our peak in rate, which QX. marketplace approximately revenues dividing our Marketplace XX% by our we GOV, calculate by

QX were rate the QX. of accounted program, upon revenue, XX% including of comprised were of to considering These The significant for Foo first case $XX adjusted quarter. a consistent EBITDA related largely items. of was and and QX a variant elevated reported to historical contract take substantially EBITDA which quarter, for lower cancellations to non-COVID not which COVID impact Dion loyalty other in MLB with both cancellations half the lockout, adjusted accounted than adjustments the our was Celine of were non-COVID-related margin. charges on such of we and higher-than-expected confined in impact as reduction is While Omicron generated there to and when million Fighters. QX, roughly remain the and our The COVID, rates In counts. and in cancellation-related related cancellations cancels the in we chargebacks, in levels a the mix as cancellations January reduced Subsequent largely several Omicron, underlying

while into We more the run have a and support base G&A investments rightsized company our our business GOV higher at Betcha public infrastructure, running sustainable lean our continued our cost rate. We pandemic. after during now positioning to brands, we also very our believe

in was EBITDA higher-than-expected impacted also Our noted by cancellation-related quarter previously items. the the

of back X.X% XXXX. in do which GOV generally precanceled other from in an refund we was Specifically, expenses the XXXX ticket compares sellers QX marketing. canceled, and When receive X% to event not customers as recover GOV, is but such canceled cost

In provided In EBITDA such, had with As with XXXX completed cancellations consistent been a from $XXX roughly revolving We margin basis cash been and refinancing our million that of we on strong the debt undrawn would facility. to adjusted of levels. profitability higher quarter rates company of cash our XXX record rising million through has extended well adjusted roughly hand. cash are debt principal ended situated $X of an rates, us interest million a operations interest have expense. we million in reduced flow a credit reduced further $XXX and that February, reduced refinancing with $XX our This points as EBITDA higher and million, also net our a and of track growth $XX long environment debt million our and cash generated XXXX, outstanding with QX balance $XXX interest conversion.

our We consider and that technology opportunities also product and synergistic compete enhancing will further to flywheel. and for the sheet cash our deploy power and balance M&A

our XXXX midpoint. with in XX% growth in of to $X.XX schedule, which MLB anticipate full the financial the billion demand guidance. GOV range XXXX the robust the We to year-over-year at Marketplace QX, raising be Following lockout coupled we now $X.X representing are resolution, XXXX billion, includes

range cancellation million, $XXX raising $XXX to of $XXX maintaining are our $XXX our at year-over-year million. million XX% midpoint. headwinds We guidance to experienced QX, growth equivalent to at we XXXX to EBITDA the the in the revenue also Due to are million guidance

in to Our the guidance our the investment company $XX fantasy reflect spend sports collectively to daily to infrastructure. our offering continues investments million categories aggregate of these build-out XXXX, EBITDA of expense. Relative adjusted brand, incremental represents in public and scale our

growth allows such areas Betcha. additive us core generation as levers TAM multiple flow to Our as well pursue robust cash in exciting our as

reap We year now implies, the be at continue adjusted do as expect higher back to margins XX% I'd to investments. of our to margins or in in strong believe the performance these XXXX, above full within live trend our cancellations like and near-term long we as the specifically contextualize improve we toward quarter first guidance EBITDA benefits QX historical events within Even will from our guidance the term as environment. environment macroeconomic our levels. and the XXXX broader

and and built-in demand, higher momentum environment. a in a more anticipate against revenues. is Most as move We inflation, on because supply response of result our costs variable, our has similar higher are ticket and prices of GOV in a through order rate, marketplace and we inflation revenue protections of percentage GOV is based a take to QX broadly barometer and Our revenues. will as our suggestive our healthy in believe manner is business would

how environment spending. first We confirm business are aware meaningful concerns discretionary have I'd our or China. volume and momentum broadly, we for broad regarding do the short X as More that our and exposure out. are of in and consumer trends impact like record North America, to any quarters term in favor, the Ukraine, indicates further our of we Russia the focused look that the secular in that geographically is macroeconomic may to not past demand

depend the experiences coupled the While over combination deprived our secular tailwinds circumstances, continued and events specific being the in a on would with impacts confidence us goods, of during strong facts pandemic, recession favoring gives potential across categories. of demand live consumers of

eager as of XX% On post artist side, income. pandemic the to artists supply again as as tour provides touring much are

supply and We closing are seeing it commentary added for that, With I in hand capacity XXXX and for hearing beyond. around Stan will remarks. event encouraging to back XXXX

Stan Chia

and Vivid our leadership exceptional questions. value momentum shareholders. our for In this business. up meaningful I'm differentiated with outlook. to the to believe to structure, our records us and quarter, And seeing that, conclusion, long-term in look remain excited for I future, opportunities drive business confident Larry. cost will on scale the Seats capitalize and allow about will Thanks, to we we superior continue team we to We break as continued offering, that that are open in operator, growth it drive And truly

Operator

question first Ralph on from from William Our Schackart Instructions] comes [Operator Mr. line Blair.

Ralph Schackart

can in terms profile give investment in perspective just the how a and spend return maybe as then you're about of some both those us J-curve, First just increased seeing. of in brand you marketing, categories? ROI talked just returns on us I question, talked on call, a you investments I Stan, performance think give of seeing you're followup. about sense that of but have and And You a what kind sort maybe

Stan Chia

and we're of continue our those the shared, really I invest I product, all that Yes, -- we're yes, all think sources consumers, there us. are to and as percentage tell seeing largest think sure. think Ralph, Score with there of board, investments in consumers as first us Net think and about we efforts excited resonate foremost, our I And Across we yielding brand in Promoter I right? increases. the our really recommending

ended. the more think seeing then as just As the we're where we that the impacts look look some of I I brand, through, the of one of exciting think, components NHL at season we NBA,

brand marketing effectively. as in we and And continue then we to those through well. of are think I on upwards performance which seen repeat increase side, programs we've invest that rewards to the as think marketing, our certainly XX% all combination ripple things I rates, of a expect in efforts working

Ralph Schackart

you that Great. But recent of Maybe just variants. about restrictions performance. you want get increasing could maybe out how of to again people kind talk if quarter-to-date in think lifted. to now Obviously, are that context do more

seeing business? is Or you are of the how States, cancellations Some maybe that impacting United the sections at all?

Stan Chia

all in there, I to talked see for current the think also think more traveling we continues industry, the amongst about, our to, I lot than almost of commentary at looked I we And But we as fans to space, to to event. AOS, wanting used Obviously, at to much perhaps rates have look And and everything, other growth higher outpace they demand more to trends, continue you traveling, we at get point Yes. as miles people fans now to at back see travel, are get a seen bullishness out supply. I one as I around right, look events. than an first consumers. how safety historical out XX they looking was get we've than industry quarter, think

continue So go that to lot overall, and of think see consumers we to to largely willingness a events. I from excitement

Lawrence Fey

And we the mentioned amount and a good I than then, in was the were expected of largely how of around Ralph, back QX there know higher cancellations they on items. related non-COVID

we reduction a it, think into can date QX. very cancels well, want we QX. I in say don't halfway seen we that, sit here to meaningful jinx in about to We've as

Operator

Our from next comes Ripps from line question Maria Genuity. on Canaccord the

Maria Ripps

a you sort sort prices, demand and touched embedded from like of including remains of of this the little what's in possibly you of pretty of strong, spending sort could sort about here guidance elevated variants? consumer bit, terms COVID in standpoint on First, new gas but your talk and macro

Stan Chia

Yes.

that sense So the in at more inflation our hold. as put time, I together and the could a made element lot we think that belief early transitory there was, story. guidance, was the think I And call it,

the the it pretty I will category So looks interest has in think resilient. drive of I be a like don't me, had But rates. latest increasing longitudinally, it or it our -- interest excuse see bit remained more as overall, meaningful of developments landscape we persistent can think the it benefit kind and

consumers seen in We allude through a it haven't others flow demand we've the heard way impacting or that to.

but guarantee together. we in a we not that the I won't we're guidance certainly the the think as put consistent trends period net that's saw when change, seeing that, So demand

Maria Ripps

playoffs, NHL just you cetera? and about the Got how the attendance playoffs, events QX trending et NBA of Masters, some it. That's NCAA, very helpful. for have And marquee can then pricing talk been secondly, like maybe sporting

Stan Chia

Sure, Maria. Yes.

start a we I the lot at pretty interest. looked When I maybe one. I'll of season, NCAA, was there. think think renewed that, mean, unbelievable I across That

to of about things some such think strong outpacing marquee that think under Super we've a Duke of group. has prices, tournament supply, seen rivaling and certainly recently, So FX at look Miami, home of think And right? I size a final game, lot how we've in prices sales weekend, historically and be demand of more order with tripling think lens same we platform when look on saw perhaps what the I I category you past I tournaments that the average there ever strongest north in certainly it's the actual we've there $X,XXX. seen. FX this there, saw the is with at been certainly, really what interest we much renewed talked Bowl the And we that the

So of I lot as events, out think there. and mentioned, we the continue to strong some crowds you see of interest from a draw marquee fans

Operator

Our next Stephen question Suisse. on comes Credit the from Ju from line

Unidentified Analyst

This is [Francois] on for Stephen Ju.

you know of learned on you so the it's synergy revenue you opportunities the or please but could can into do integration us planned you going details cross-promotion And of kinds still unlock I what future? Betcha? with and early, far? far update some what product have And so think So

Stan Chia

we Betcha for the excited Look, really remain the question. Thanks opportunities. Sure. about

this login, I you to way. terms in single actually at both we've is see, continue your a Whether engaged bullishness the playing what that, we of you platforms. us to today the the be right and the product into user as across sign-on and at user engaged the move and who Vivid the you fuel increased lot both able reasons more, products us customer look Betcha integration of our the users more, that When learn platform can then a depositing remarks, log and which to alluded allows think in interest and see Betcha more across app compelling our been across results we I about interest to to on what we've to which if enabled you understand can that test, they're offerings again continue and the product meaning integration the are engagement see invest product, you we're done, look much prepared capability, multiple brand. Seats insight side they're across whether we've think more clearly ability platform, into the to fan with through forward As to really using When with base right? to the in continues for of about continuing look to ability --

Unidentified Analyst

just the of been key then I one it. revamp a the follow-up has the initiative. Got And website on think and app

XX% So general directional know improvements kind can what you're rates, far roll you repeat engagement be from Yes, or seeing the you I so was about but website improvements you the in and app? seeing of in retention? the as out kind of increase changes. revamp talk terms these may that of of just you mentioned

Stan Chia

sure. Yes,

earlier our where together, one things I as the think in improved investments double all is look working you of digits where right, categories rate stat brand, program, of from product, improved I around X together web, repeat seen at I these things we've historically. work sports rewards all think those been shared increased they've

something about. think I it's very we're excited

us other a you think learning a and think we about over as to, subsequently sign our around at And users. scheduled all of our to somewhat So before The I to talked channel, is us discovery website traffic become transaction. a the ability time right? there's about to and I'd fantastic seen about, using converting for I NFL as coming we've investments of channel again we coming even point discovery brand thing a when the of collectively, people that's as a us, release, to right think these

are So all we culmination great a efforts investing of the product those our think into think, our I brand. all behind that things, and I put

Lawrence Fey

And one add might thing. I

tests, first seen few tracking improvements number fruit of you our experiments meaningful and yield et As already subsequent also to and part quarters front-end both will run months were start but an in more bear benefit process that that's And difference new the the some live cetera. while funnel. ongoing rollout, more allow there's we after through then as click-through that over those of a back-end improvements quickly, iterate AB we've in us a years, web rates, the

the about end. enhancement will so that terms enhancements in front very we're enable to new back-end excited of And what

Operator

Our next from line Shweta question comes the ISI. Khajuria Evercore from

Unidentified Analyst

[Dave Peterson] of quick the And year? this leading indicators morning. demand are that much demand what you for This trends asked you that how have question demand? up the as seeing earlier, was One guys Shweta view is you visibility into on do for pinching now question following

Stan Chia

Yes.

can think few a look to certainly different elements. we I

you As think the intersection supply marketplace, about of an there's demand. and

extending, so been is that have you for generally ideally that go I particularly to verifying feel there's supply. in quite and step have that that think seems quite to strong, those And areas supply one supply not where concerts, will remain they indicators ample where that growing need online and only good like And a tour, we there's there's and shortening. of speaking, strength And the demand be duration don't variability belief it. come on if

certainly then performance are to positive. period. going that So lag can from throughout some of you now, to spoke people certainly, we're feel while the was how continue demand X difficult historical the to the I remain with it's months robust in for that And on prognosticate what see that quarter, indicators we all seeing think to

as real-time the well. strong feedback So was

that concerns So in we stock have impact, we would to point quantification, impact? seeing suggest prices that a other that downward. shouldn't have or meaningful anything than shift have higher an gas Other around than can are not shouldn't decrease an prices the theoretical

Unidentified Analyst

or than live concerts stronger theater that in vertical in expected? QX could out to just particular that And sports, of follow any for came or kind the up Great. call region you that, on quarter,

Stan Chia

also you're calendar. I and nice QX they when talk think I -- Yes, robust quarter was And at incredibly the and think Live what about that QX pretty for concerts. had hearing with we generally fits an underweight say Nation QX it a calendar an folks

they about themselves events all season, shifted in you're previously prior out concerns XXXX, think artists concert you were the is postponed of into being get summer so we I events and that and bought QX lot the a -- in to of from of COVID backlog road continued seeing years out excuse time. talked the So But that light more in push concert XXXX. QX. And on pushed eager me, into have

logically make quarter. start concerts And during shows the see did we their they plans buying follows it those so for in that for QX, folks will as that the summer. in strength And

Operator

Tom line next from Our question Forte on D.A. from comes Davidson.

Tom Forte

quarter. right, Stan, so question Larry, congrats on first then All the a follow-up.

did back standpoint you in think choosing reinvesting through about the in between quarter the do have from excess you or the how technology bottom spend line? letting business marketing to you and when it incremental like a So flow sales or

Stan Chia

Tom, thanks for the question.

has continue investing, tangible us, think sure right. horizon the length long-term make guided is we we over as I for us which this, on for right, us, returns to that see our a strategy -- right

from think continue front, to product I'd ecosystem, to investments are whether continue Whether repeat I see, we on the how for to say where translating is product we look As long-term monetizable investments And you right. higher independent been then outperform consumers look value into group. sellers, driving and And customers becomes satisfaction us. there, all of ability us that. think in have it's those to the I as I think, our GOV the continue increased to look for as and across leading our like we satisfaction data at, rates, the indicators with confidence at they've amongst rather marketing question that into that start We've in think all is data, all the we our and strong, right. yielding have talked I about out it's if in resonated investments investments sources, our those great

I so we making that remain areas. continue extremely as I'd invest, signs are investments to encouraging think in And of we the point to all the right

do allows further of business core that, right. the ability our strength I think us the to

I that cash, where, As to been shareholders. of invest, our you on business profitable that to us long-term that look results has free the convert XXX% a that, lot over for think, always of top at, really of think well, us we're able things ability allows structurally a and and yield the I in

Lawrence Fey

thing, I Tom. would add one

to reaction having palpable folks stripes think the a I profitability. in there lot view of market a its to and out in change their on shift

profitability think but focused way of fortune we have long to having all back was the equity been on ownership. I the business private through founded the the when

built it's If And ROI so from fuel has more standpoint. a on DNA put is already on into the it. there own stop to it is working, not you you view it. every stand its of project If working, an

to shift our to no So real relative historical. posture

Tom Forte

Excellent. All right.

second one. is more one then or So the fun the question the funner

marketplace has and like Etsy about Betcha about buy I assets, want technology? Stan, How like did which your done incremental or Sports we complementary your rolling you vision think adding M&A. category versus to So should the talk desire with brands up for multiple long-term build done, operate marketplaces, your Grubhub's to

Stan Chia

the love question, Yes, Tom.

by synergy, say when a on of both always we available. even as inorganic through As go a great versus out once in but sit are the of asset ability look our there, organic back accelerate you on structure up with look value I always they that as The key continues I we strength, the around I to us cost the the be a of consumer and always to fact at I again know think the interest are the through think think base, certainly It's look would to great I of that balance strong that back complementary say efforts the consumer truly you that position when the complementary increased that. decision, invest inorganic ex-private front. are And think believe very great on should product, and again, is we additive, and another that The the at become existing here, principles so continue are is think can -- very it to continue opportunities, there we with very those we're us build I we the we I about. in Betcha. of for areas love that I background you base. synergy drive to something that I and to when to to such component, And the signals going example think additive, equity all also it's drive engagement, TAM with consumer TAM within And that I pats bringing And I decisions a what himself we remain sheet, buy Tom, that's those will got Larry disciplined you're so. get way, think, in great. right, our area, excited think, lot

Operator

Our last question Raymond from from comes Andrew Marok James.

Andrew Marok

in was on could a competition? driving seller point key you prepared couple but there remarks, your the of after. Score Are delta rest that's between touched especially unrelated you this the thought of really issues the really And on Net follow-up Stan, that Vivid the side data interesting. that have Promoter and an to I I

Stan Chia

there. Sure. Andrew, thanks the for question

hear sides, if I product truly we've sell at there back on be I side think I businesses I marketplace we've of investments in service a it no of customers grow I with product side. it's on our better you I top investments founders continues the say, the certainly independently, customer you SkyBox features, invested I Again, think investing seller that our of that the to When think customer the we to the X X put about integrations run terms about we've data, have experience, think space leading extends the we it, equation. done surprise sell in that to each with the in as platform, you and allow which on service, I forgotten service, side sellers start never and to better service And of and we've of, at think Vivid's and of what new origins, ERP experience, side, strategy. look across when if look would business, with certainly tremendous comes across our as just our to think customer think, well. with think lots our their

the in And I difference think seller see you that sentiment so reflect side. the certainly on NPS

investing ticket the in have look the again, fan coming folks and resonating, think X and truly to actually for past X all who on with light the As are you equation, us buyers. to our the frequent we've with to been product used and I of are familiar years side things the

customer there. we Poll independently, Our there have barometer and customer being Harris all The the Newsweek out best service the service, out investment indicating best of some in

our clearly as app through coming a web program then rewards across and and Our product. offering differentiated enhanced discovery elements certainly the

an are where scores of category. NPS all features think we more sell into And in yield across buy value those the side see side, the translating that I that the differentiated reflected is across things ecosystem and constituents. the our for I the truly, think,

Andrew Marok

that there about be style of like incremental quick have we good arena the like of an thumb of such right that in It's is a one may XQ. get or that, good to we the for can to trending for it's But an tour? a hear kind cancellations cancellations. tour maybe that then direction impact as rule unexpected, on sizing And news things Great. assess

Lawrence Fey

where similarly it, Yes, -- performers. you give Celine with forward experience were think They made top could half Foo yes, unique I we are up of fairly they I and -- both, cancels. and hopefully, and pretty all the you collectively a about sized, the were they had, Fighters, type call those going X Dion MLD XX

So you to that's many a for to million shows and can style of meaningful $X million, reasonable range, canceled back But of how $X sort assumption of number obviously in size think that I and GOV subject a directional the whatnot. tour you arena the into it.

Operator

for Kate turn at now to we this to remarks. Copouls I call would As over further no have questions the time, like closing

Kate Copouls

a quarter. everyone, Have Thanks, to first day. great us discuss joining our concludes today our record This call. for

Operator

ladies you, and for thank participating. This And concludes gentlemen. Thank conference. today's you

now may You disconnect.

Vivid Seats (SEAT) 14 May 222022 Q1 Earnings call transcript