Vivid Seats Inc. (NASDAQ:SEAT) Q2 2023 Earnings Conference Call August 8, 2023 8:30 AM ET
Company Participants
Kate Africk - Head, Investor Relations
Stan Chia - Chief Executive Officer
Larry Fey - Chief Financial Officer
Conference Call Participants
Ralph Schackart - William Blair
Curt Nagle - Bank of America
Cameron Mansson-Perrone - Morgan Stanley
Stephen Ju - Credit Suisse
Maria Ripps - Canaccord
Brad Erickson - RBC
Thomas Forte - D.A. Davidson
Matt Farrell - Piper Sandler
Andrew Marok - Raymond James
Dan Kurnos - Benchmark Company
Jason Bazinet - Citi
Operator
Good morning. And welcome to the Vivid Seats Second Quarter 2023 Earnings Conference Call. Following management’s prepared remarks, we will open the call for Q&A.
I would now like to turn the call over to Kate Africk.
Kate Africk
Good morning. And welcome to Vivid Seats second quarter 2023 earnings conference call. I am Kate Africk, Head of Investor Relations at Vivid Seats. Joining me today to discuss Vivid’s results are Stan Chia, Chief Executive Officer; and Larry Fey, Chief Financial Officer.
By now, everyone should have access to our second quarter earnings press release, which we released earlier this morning. The press release, as well as supplemental earnings slides are available on the Investor Relations page of Vivid Seats website at investors.vividseats.com.
During the course of today’s call, management may make forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to risks and uncertainties, including those described in our earnings press release and other filings with the SEC.
On today’s call, we will refer to adjusted EBITDA and adjusted EBITDA margin, which are non-GAAP financial measures that provide useful information for our investors. You will find a historical reconciliation of adjusted EBITDA and adjusted EBITDA margin to their corresponding GAAP measures in our earnings press release, supplemental earnings slides and SEC filings.
And now I would like to turn the call over to Stan.
Stan Chia
Good morning, everyone, and thank you for joining us today. I am excited to share our strong second quarter 2023 results with you. On top of excellent growth and profitability, our investments have continued to drive increased consumer affinity as demonstrated by increasing repeat rates and strong brand sentiment.
We have also entered into several accretive and unique strategic partnerships that further differentiate our platform. And just yesterday, we announced our planned expansion into the Asia-Pacific region, entering into a definitive agreement to acquire Wavedash, the leading secondary ticketing marketplace in Japan. I will address each of these exciting developments after walking through highlights from the quarter. Then I will turn it to Larry who will walk through our financials and outlook in more detail.