SEAT - Earnings call transcript Q2 2022

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Operator

Good day and thank you for standing by. Welcome to the Vivid Seats Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today Kate Copouls. ahead. go Please

Kate Copouls

welcome conference and Relations Seats quarter second Vivid Good I'm to Kate earnings call. Investor Copouls, XXXX Seats. morning, Vivid Head at of

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

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

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

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

Stan Chia

otherwise. joining for results achieving live shift our achieved highest services including profitability. share results Consistent today. and tailwinds to quarters, experiences. with results last continues model of on GOV a driven our and that already growth products by spending Good our both marketplace These to-date to we demonstrate built of and events, or record and for our exceeded strength external several thank as expectations, from the business track you. highest strong course ongoing the the of second and marketplace deliver the quarter morning, everyone, consumer public believe our company ever you with innovation, I'm to We exceptional internal pleased us upon our XXXX second and QX quarter orders

to strategic our key detail. which begin Today initiatives sports on results turning across update you key one progress and channels before exciting step Picks the users combine Sports for exciting December make creating fans. was entertainment this to the our of to today with, Fantasy I'll an critical of further to capabilities to Larry accelerated in Vivid Vivid engagement our brand quarter, profitable Betcha in year integration throughout e-commerce continue provide will We of represents share the shopping categories. customer of this financial monetize ultimate acquisition will products announce to integration product I'm acquiring The like engagement joint us over on Daily platform. launch initiatives last ticketing proud I'd Picks at To the Betcha to Vivid the cultivate and efforts. Picks the Since it update across love Betcha and ecosystem allow experience everything rebrand of of Vivid that next its about Picks. leverage with to in our across

more users Picks ticketing, multi-stat allow integrated continues Vivid such to capabilities entries when options to as addition add that playing. In

sports in value unlock excited innovate are our NFL just look shop ecosystem. time We across and this platform the to and to to for season unveil continuing forward one-stop fans for

fostering engagement, our to In brand loyalty addition to focus our central strategy. on long-term and remains awareness

signs. on still early are we we encouraging this journey, While are seeing

continuing out of and in with our quarter program experiences. discussed seasons saw bring customers increase we brand preferences we second goods shift XX% upwards their to that In and their the believe and momentum to to to and combination result second the is NBA of which them favorite repeat rates, saw NHL reflecting live quarter, we attend consumer partner the rewards the increasingly our of quarter, we get events us an demand ongoing As preferred see from the the following MLB. the and events. pandemic gaining last were connect as We are of believe in we excited momentum see to pent-up eager fans

to fans XXXX Colorado sports, QX country. in Stanley this For compared Daddy Post Stanley venues such the back of quarter the one the to the Tampa In Cup Lightning in-demand shows additional finals music increasingly Game as were featured Bay get Cup increase year's context, on record. the Avalanche so concerts top artists second to by NHL across phenomenon to and saw amongst most between eager We Malone and nearly that accommodate demand. excess announced Yankee XX% this the ticket

In fact, the tickets all Ball average ahead and the Bunny, from the surpassed Bad Denver Adel decade, in Arena ticket last Eagles. Arena at price for of Game the one Ball

also to and tickets over demand six number the sports, the events women's than ago. WNBA, comparable and the sold times, game XXXX, years did We In the we World saw ticket showcasing of unprecedented, encouraging College for women's with women's Series five of All-Star the in first NCAA half we grow softball sporting both period demand.

continue are reach most visible quarter, customers. we Stone, value its multifaceted and partner, this last of one music. month, Stone's announced we our authorities Last our brand platform long-standing partnership, and the our mentioned, partnerships to highly ticketing a in to continuation revered multi-platform the the platforms. relationship I strengthen content Rolling Rolling differentiated our with and As across of official digital integrated of With bring

buying continue dynamic rewards Seats to experiential Additionally, loyalty with bases industry-leading through Rolling customer experience. and members, both will Stone's rewarding our benefit leadership while Vivid providing engaged global program, and partnership ticket this our

into entered sports We Report, partner. agreement ticketing Bleacher official have as brand its media with leading also an

events, to created hyperconnected partner sporting for that experience Vivid XXX all fan digital young Bleacher impressive across more exclusive digital of with fans digital engagement has global Report and platforms. be for sports BR reaches the Seats excited than this that month. of million an are fan destination new We each sports exciting levels will sparked advertising provider has

ESPN continue our quarter to to the exciting side proud As the category we buyer partner Report official leaders are marketplace. our Stone, to with Many sports. and both ticketing of pertain music Bleacher partner of in updates and Rolling of this

we continue the retain for We to cost stood of widely we Skybox. our offering on available and excellence most with pandemic as improve ERPs meet and and to leading have our sellers. one professional well up fulfillment our continue ERP strong adopted to fulfillment to to attract the demand scaled strength operational on efficiency sellers, during sellers offering rapidly However, seller Skybox. for see seller Already, the very the side

to world list, and which I Workplaces Best this innovation that a the We demonstrate the businesses Company's all at a encouraging passion around Innovators communities. to honors earlier share from and joined Turning to to freedom steadfast am workplaces their giving explore esteemed proud employees towards businesses ideas of month, for that on our share organizations, levels. the that, creative incredibly workplace, that were their ranks focus named for we commitment Fast benefit the

will and of As a hard be realized forward Vivid growth of our what boundaries be and achieve and has see future. we look technology to our able fostered talent team always the evolution work ingenuity company, The innovation. and industry, our incredible the our business continued the in I are pushing will that to together Seats for talented to attracted members, through we culture and we which of empowerment

another company. flow. the Before forward over cash on record our that, With look of as want and turn over to visibility to market public reached We markets past broad will track we indexes. as a milestone to the and the June, mention growth, Larry, I This we the to it Russell profitability, Russell of that call I XXXX public increased XXXX we turn Larry. build I joined

Larry Fey

Thank you, Stan.

of flywheel. Our continued second quarter event strength our marketplace differentiated live results the successful reflect and execution

profitability, our of mentioned, through in XXXX, of execution growth our orders Picks. marketplace the longer-term record flowed quarterly line growth highest such to we driving marketplace make quarter achieved GOV. even as ever top continue With investments integration Stan we and as Vivid rebranding As QX to focused second

our half, a EBITDA. back marketplace guidance strong year GOV first for revenues each XXXX we of are adjusted raising full the and On of

rapidly events we quarter the in XXXX, orders resulting and returned size. second a surge As reminder, order of a in and average live saw

quarterly in that for and records marketplace each GOV XXXX since continued of set most quarter. QX have recent trend the We quarter

marketplace XXXX, increase by in QX the orders, quarter a as levels XXXX increased order XX% second average to by normalized Meanwhile, a XX% while year-over-year. declined size GOV XX%, average year-over-year, XX% increased quarter returns XX% above order size Second marketplace driven remained line. revenues trend yet

our Our our revenues, marketplace GOV, calculate by marketplace the XX% by was approximately quarter. which for take rate, we dividing

in cancellations were cancellations historical activity Our for be QX. compares QX quarter in our as Cancellations lower $XX to EBITDA adjusted we QX of is revenue. underlying in After in EBITDA largely represented of high levels, million program, a abnormally to X.X% contract when the rates second take adjusted cancellation-related generated consistent quarter, XXXX, accounted which X.X% the margin. of first continue XXXX XX% X.X% the GOV and year and impact of loyalty full which in XXXX, with a Marketplace substantially with considering XXXX. In to

substantial made orders. in the integration growth G&A we and Vivid of said, in rollout continued Picks maintaining progress Stan As despite expense branding while

in $XX algorithms Although marketing second data. second ended with of QX quarter, with million of the roughly incremental and net some scaled seasonality reduced $XX by million party $XXX performance our search flow in intensity in first payable. million as observed and spend to quarter, GOV due sees the proprietary were inventory use cash paid nonetheless we've powered channels, the cash a recently We capital and marketing quarter typically accounts cash. cash of working second movements that of Operations across

consumer record quarter. the Our healthy second marketplace demonstrate orders in demand

somewhat consumer Looking long-term to the industry, in its discretionary maybe compared when with a live event forward, insulated believe recession we categories. other tailwinds,

market economic offering downturn. win a differentiated capital cash are remain to underlying long cost committed regardless our balance weather severity any with growth are and of We our of of of believe to current our effects structure the structure duration for We we our subject and conditions. potential also lean on the right believe with said uncertainties impact us profitability That the our situated value managing strong not business to shareholders. position, We our and sheet. immune to a strong drive macroeconomic history we to to economic long-term the flow, and recession give well

tandem selectively public attractive us which in for quarter, that warrants believe offer was we million of the trading repurchase A our As stock, X.X a repurchase exchange an and shares generation, enabling testament program, share capital. of $XX is our Board In of million liquidity. float and flow cash confidence when to our and an our to in of July. continued and XX% exchange warrants a Directors example if as authorized we exchanged we Class completed use approximately an second early increase In public this, shares for will aggregate, of announced the in

as strength in Beyond raising this events alongside order our ability marketplace top first further expectations. consumers technology XXXX to We this the are guidance our for repurchase consumer both continue industry flywheel. M&A we continued opportunities raising speaks underlying explore for that to our will with our and line product financial demand our power our guidance to and live synergistic believe program, both more the to After pent-up and earnings again volume QX platform. release, to appeal exceed from we differentiated enhancing our

such, range of billion, midpoint. $X.XX the be growth GOV the to marketplace XX% representing now As billion we year-over-year XXXX in at anticipate to $X.XX

at guidance to We revenue $XXX XXXX are of midpoint. XX% to the range equivalent million to also million the our growth $XXX year-over-year raising

exceeded we the This order the dating half million our through is EBITDA XXXX to end range the Lastly, adjusted and pre-pandemic both our now first of initial of our $XXX relative to of in expect XXXX. GOV back to are our EBITDA and Marketplace $XXX adjusted trend and line growth has guidance million. XXXX guidance expectations. XXXX raising top

demand, tailwinds event indefinitely. While we is acknowledge this of portion outperformance a we are that not attributable believe to long-term may to continue there demand for continue pent-up live

out scenarios of the revised remainder guidance could continues during play of Our potential to balanced view a of that reflect year. the taking policy our

what Seats only retain that will optionality and ROI. Vivid pursuing results. it and summary, Stan disciplined and closing is are back lean remarks. In platform industry ultimately deliver that remaining strong that, delivered attractive exceptional financial another projects into believe integrating innovating for to will our quarter and working hand We the strength we to while it and was ecosystem for live events With I'll captured

Stan Chia

power for the results In strength Larry. clearly offering the well as our Thanks, events as conclusion, this demonstrate quarter of industry. live underlying our

and are As committed I scale up confident with maximizing to we future, disciplined shareholder look and for that the the product, have that open to questions. are right growth we value. we investment operator, win, sustained technology to people, will it and And

Operator

Blair. first Schackart question [Operator from Instructions] the Ralph line of you. William comes from Our Thank

Your line is open.

Ralph Schackart

thanks that concern results I that out the Good strong follow-up. then prices of slowing variance you've taking morning But the you'd implied pretty sort sort gas And a Obviously, for the or else about business sort call the the seen in and today. guidance? with questions. what's that of from maybe macro, anything in of anything increasing have

Larry Fey

say second sport quarter, the last bit of in consider quarter, similar of generally heard the we yet behavior it season of in the regular end I'd not meaningful way. ongoing to is really influencing doldrums what the of baseball. The a have all the been we've a seen Yeah, only little we Since year. chatter,

conclusion. the to I other continued nothing quarter in strength parts than has firm So really through we the think a that events state subsequently. from the could little category and a points -- the But meaningfully detached fewer of draw data year live

Ralph Schackart

think to to Great. the working website opportunity differentiation product you've new the as product on service going further forward? such services approximately, and laying drive redesign the Stan Thanks. around Maybe And of the you evolution, and enhancements speak the about then you're Betcha. as revamping been

Stan Chia

Yeah, sure. really excited. Yeah, we're

daily both fantasy product user today of spent have we an low the said build Picks, the we an centers ecosystem a you app thinking ticketing. evolution of purchase launch money intuitive, allows which really of we right engagement announced As to that to frequency into within a really around time lot And that the real Vivid category. traditionally also Vivid is a our and about embedded to ability Betcha encompasses that branded way

content what preferences a of both a compelling So on unification play we that us able likes that consumer platform a and allow and and see their allows using ticketing understand frequency that the interact high then opportunities. to be as reasonably and content with them to are, engaging surface to

about excited that. So really

I think brand our our efforts to ecosystem the our half how focused we'll product strategy certainly differentiated encompass year of truly But lot around on the most see user look that's of to driving and compelling at push and a engagement. remains the centered to second marketing that.

Ralph Schackart

That’s helpful. Thanks Stan. Thanks Larry.

Operator

for moment our question. Thank you. One next

comes line Ripps next question Canaccord. from Maria Our from the of

Your is line open.

Maria Ripps

about space about I How should for in of morning. color. all wanted for to Thanks your second this Good in strong outlook here. the just Congrats the demand the and still second very comps are the implies strong and you on half. sort increased your, ask of context year-over-year think guidance continued numbers GOV investors do and now happen all to revenue half. understanding pretty difficult actually to in think needs half? you in second for declines macro what grow the you facing that the uncertainties that But

Larry Fey

COVID. in we've strike balance our last macroeconomic while Yeah, particularly I'd had half around at guidance it each to we few the of anticipated economic year, in have uncertainty I say lot the outset a outlined of and recognizing we uncertainty some the I And think of of first quarters we've the year updated now or a think we're was trying that as introduced. the there indicated don't

to exogenous And from have we the reflect and year ball, that what come influence. so fact the certain macroeconomic we balance so the that trying crystal the lens far may of and is the things in don't

scenarios the look trends the and be again continued. call extrapolate of listen where certainly the and Live line of to Nation to I yeah will think balance around there year, So continues if the you forecast

the for build those the as top we've there reasons, there's guidance than certainly doing pathways that that water I chop or COVID least. at are of in to But better think performance probability pathways to well. macro end either similarly tried are a is if figures that. to there certainly at into of And the

AOS scenario, I exactly uncertainty will I would like. trajectory anything what more to to come environment it think say So around drive with year-over-year persisting current looks more positive a really than else think down I

that decent have now orders. should we're a we cost foresight into think variance season, I entering

Maria Ripps

Skybox. you. seeing your any you adoption? you even very be to the functionality that solid Got trends are on or helpful. drive recent platform? And Are still leverage additive for additional maybe more can you think That's utilization features us that further it. there And Thank Skybox could would refresh in

Stan Chia

bring on large we we're and to clients Maria. share able Yeah, seller leading the we Maybe, is to what that over. Yeah. continue and most on I ERP SaaS continue move think to with for the And space quarter-over-quarter, in innovate gain that innovative community.

continuing through the that more I we the be as profitable of enable again that leverage allows In platform at map vehicle aspects our think things of then the to that on build terms road elements our us And improving think and on our such focused fulfillment provide performance more can to do to data to I really scale look successful. a offerings have, business. expertise that there, that it's then can sellers to our and which a that we to centrally grow service, we sellers through

Maria Ripps

you, Got it. Stan. Thank Larry. you, Thank

Stan Chia

Thanks. Sure.

Operator

is question line Next of Ju from of Credit Stephen Suisse. the

is line open. Your

Stephen Ju

Stan. Hi

be So order recovery of high, the the pent-up will average unsustainably the and during initial I manager size stage guess, the pay.

from guess potential talk seeing maybe you friendly from the what demand of well the be a about, purchase as AOS versus mix program. a shift the can you AOS I especially may So in as changes what to user context frequency Thanks. less base standpoint

Larry Fey

cutting Stephen, a Yeah. little Hey it out you're bit.

we two speaking AOS as we to some think then, frequencies. the trajectory heard So one of being answer, purchase the what questions we'll and

nice and in to I past eyes AOS out time it you things, year no reopening just see if back strong. with to are this numbers, compare But the we yes, how the quite the was playing seeing really at of you on the unprecedented our variance. referred can front getting events. of side we've second the in the And So, about excitement of looks in think unique to last XXXX, year quarter

And pretty QX. saw precipitous reflective of drop in shifted is we so that In QX, that into a then XXX. in you saw and seasonality. really And in don't from mode variant typical AOS for just think strong AOS to I last contrast, a year, quarter-over-quarter XXX you

So I shifted that probably some had in think last in quickly QX year effect, to headwinds. tailwinds you

I between feels what it knock steadier a the things on, year, are think two. this like little

imagination to we'll what to so leave will QX. on there look in incur from it And like AOS

continue what we may frequency, increasing decompose Still loyalty be to pre-pandemic. behavior purchase saw specific to say, frequency things Beyond program what made and I'd into to results pandemic little are we've relative that see platform of changes we shifts. post and to our a just difficult the that

confident of I of net think an encouraging on both we're the but there's sign those, some frequency. element been has

Stan Chia

Yeah.

I despite I we we in that, the we still season I'd is XX Stephen, strongly as frequency got we frequency over NHL we in look record that elements demand, frequency, kind that called to data which AOS. at piece you of the $XX that versus rewards down the that pent-up at categories we certainly look reiterating, only just think the teams almost we've recent have comp particular, look the our out QX think see last across regular season. as all delivered in not XX as comps as although thing the to control. have around the year. things and similar we certainly at of can a when despite attendance think we And report, terms completion our that I and what we of trending excitement indicate year described baseball, where baseball out us to of the as almost data orders down But release all gives GOV in AOS that quarter maybe AOS in recognize of And this upon category. talk would the that add NBA growth, about Axios working XX% frequency the we it Certainly is

platforms confidence of in across a I to products as that ultimately industry. share that, lot that control think the resonating think with things our give space us purchase our And are are we that So think and we've that consumers. got I innovate frequency within helps I our and grow us continue the

Stephen Ju

Thank you.

Operator

you. Thank

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

Your open. line is

Shweta Khajuria

Okay. Thank you.

Could please. areas where Larry I what two you XX One six the the pipeline? me question talk to then top about guess, months? initiatives talk is next you. on investment product also understood are about Stan investing is are And testing product of that call some Thank Picks. second on Let in you try maybe or you could please Betcha are for it, beta please you're VIVID your other the the or and

Stan Chia

Stan. its Yeah. Thanks Shweta,

what be I I and think said the going of the ability the with offering consistent that awareness our a main of customer of of Vivid noted arena think is the rewards such now both I driving fantasy best message across in the in areas that we've play both marketing clearly compelling Newsweek diversification service board contains differentiated we as in what I Picks. in daily investment as channels, a think can well proposition think our our one by to to industry bring and product as is

web can across, So I ROI our When best-in-class look initiatives, the in for, Capital One. as the way investing to our and we've you I judiciously last say high be by we I the as long-term now quarter look going would that think distribution announced on space. we're as see drive at the product also marketing channels in platform I technology I look at across certainly think across that allow us brand seller surface, platform we you think certainly ecosystem, built which think you to value that

strides continue we I So, to there. think make

come at consumer the there. and allows and the you where behavior, invest to incremental example will continue ways product I certainly that with multiple insight personalization we've again, that from with efforts a lot fact the a them behavior. platform focused our us a And the I engagement that them see, through unique users, user points shining higher on we think and Picks of think keep in something and element of Vivid drive got content then think other I in I the relevancy of ecosystem preferences data front, into users is and into think frequency will driving in to think I On our

Shweta Khajuria

Stan. Thanks Okay.

Operator

you. Thank

will line next of the from Davidson. Forte come Our D.A. Tom from question

Your line is open.

Tom Forte

Thanks. congrats the Stan Great. and Larry on quarter.

So, one question and follow-up. one

the So, Stan know on events wanted to I by question first your to return thoughts live demographics.

do think consumers? all ages or biased it younger is still you return to So, we're seeing

Stan Chia

Yes, categories. whether strong recently Yes, Tom. I hey across I or that younger gone an strength who Steven recently at is you of maybe look slightly it's the think maybe appealed audience Mix, good who's what on onset. across we're Bad had pretty can think to Bunny, a seeing indicator is artists think strength have I the And more traditionally a sale

strong we've theater, strength seen a strong you to certainly a the to when return the categories. I get been across think sports. there's of And there's into been return outside concerts,

what groups. seeing all categories certainly across age think I we're strength across different seen that So, the on fairly our demographic all of the uniform we've across report we and data,

Tom Forte

you answer second my and first question Great. And then one. answered the

talked compared are What expectations your to of on Larry the percentage trends the in that how your So, quarter first for and quarter. cancellations thoughts long-term cancellations? the about

Larry Fey

or average to we the in would if levels. get saw us get X% back I the to term think generally on of way to those cancel. way we all Yes, near you Unclear GOV go back back we all the gross pre-pandemic, if ever

and or Xs vast majority cancels Game severe didn't in and pretty were than of the back go cancel event was health happen. time, was you anything personal other Xs, sports fairly It rare If stigmatized a pretty that to really if issue. a it Game

you've off. COVID seen I think stigma that of with wear some

some in down to the we'll more came question mind in target? in way all assume the there's few But is X.X% what next continue to to saw so all to our learn. the like we way X% the do quarters. get in appropriate we you X%, would QX And XXXX now of back the or on to range you I longer term as think So, get something not

Tom Forte

Thanks Great. Larry. Thank Stan. you,

Operator

you. Thank

next from the Our from Marok come line of question Andrew James. Raymond will

is open. line Your

Andrew Marok

my questions. for I Thanks Hi. taking Two could. if

the bit increase and outside market softness search You a some maybe that seeing competition little about we're channel. in talked the of in paid

what maybe opportunities are affecting marketing? rebrand a app channel the So in ex-search went the dynamics on for Seats product, to I then app decision the it guess folding for efficient or those more the guess secondly softness into lower Betcha, as Vivid And the your to market cost I or creating launch separate separate mix, in into is Vivid app? maybe opposed Picks core or

Stan Chia

the Yes, and the product I'll Andrew start let with question I'll then one. Larry answer other

potentially I think one certainly ask think estate two able garner being thought we to I in the think app look ecosystem, categories I through. real when at to have to is a helpful that we

in of reason about environment. is, where think big terms the an real app think I engagement in as money other the think you I regulatory

us certain have; without engage one, that secondly, need acquire to Vivid we've as sure we the that, experience then we the those think non-disruptive right? innovate to at consumers sense we able we core we allows that that app to former. look real money ticketing degrading way. in part lot we different to in I us a products, And it and that got of of Seats into I that participate is any in where So restrictions a are encompasses an as of when to make think it makes advertising that at consider are that there a look said both efficiencies

I seen quite days think that's nicely. play what's think we've driven, app early I out the our largely it strategy two So and in so far

Larry Fey

when paid we on seeing sector on our the made comments are some calls echo intensity around maturity I increasing prior marketing and perhaps of others stability. The some front. seeing were we the search And

and little others a seeing [Technical bit intensity and increase stability. Difficulty] some were seeing are intensity increasing when that's we seeing in we're perhaps Now perhaps of when again

a Now when seeing. intensity we're broader little seeing bit of what again from market increasing detaching the that's is perhaps

to that's specific in ups All some factors. playing think see And you'll think paid I intensity I to of which here. what's industry and of or case for idiosyncratic terms marketing out the individual competitor downs say, search

some to I think that ways, ours may around are competitors try who been do past And reclaim commentary there's glory. would activity. one one of enhanced of to search gate through the trying be

of the side the sometimes half When get got going I'd say our sometimes second in efforts the the unlucky. last to mix brand we year variant, frankly launched On lucky unlucky. get and you channel midst we of in QX of year, into

joint messaging to we bit back think with I a reposition reflect the to Vivid then pulled Picks.

half investment the pretty first bit set when get bang heavier And said, in a were on to for you still will when the the can so, we pricey of lighter year, the year little second we buck. of perhaps half things of little be as a us the brand in were which

So probably year. heavier brand for out we're on expect deploying outlays so we're when our we par about dollars, little on in but luck that the the do half back to a of nets be

Andrew Marok

you. Understood. Thank

Operator

Thank not showing turn in back remarks. the you. closing over to Kate the for I'm Copouls any any questions call to I'd further queue. like

Kate Copouls

Have us joining great for another discuss call. concludes to quarter. a great day. This everyone you Thank our

Operator

for concludes today's This conference participating. you call. Thank

Everyone have may a great disconnect. You now day.

Vivid Seats (SEAT) 12 Aug 222022 Q2 Earnings call transcript