Vivid Seats Inc. (NASDAQ:SEAT) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET
Company Participants
Kate Copouls - Head, IR
Lawrence Fey – CFO
Stan Chia – CEO
Conference Call Participants
Jason Bazinet - Citigroup
Ralph Schackart - William Blair
Maria Ripps - Canaccord Genuity
Ishant Goel - Deutsche Bank
Stephen Ju - Crédit Suisse
Logan Reich - RBC Capital Markets
Thomas Forte - D.A. Davidson
Shweta Khajuria - Evercore ISI
Matthew Farrell - Piper Sandler
Andrew Marok - Raymond James
Daniel Kurnos - The Benchmark Company
Operator
Good morning, and welcome to the Vivid Seats' First 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 Copouls.
Kate Copouls
Good morning, and welcome to Vivid Seats' First Quarter 2023 Earnings Conference Call. I'm Kate Copouls, Head of Investor Relations at Vivid Seats. Joining me today to discuss Vivid Seats' results are Stan Chia, Chief Executive Officer; and Larry Fey, Chief Financial Officer. By now, everyone should have access to our first quarter earnings press release, which we released earlier this morning. We have also provided supplemental earnings slides. The press release and earnings slides are available on the Investor Relations page of Vivid Seats' website at investors.vividseats.com.
During the course of this call, management may make forward-looking statements within the meaning of Federal Securities Laws. These forward-looking statements are subject to the risks and uncertainties as 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 the corresponding GAAP measure in the 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'm thrilled to share our exceptional first quarter 2023 results with you. As always, we prioritize initiatives that generate long-term value and stickiness in our marketplace, and I'm excited to report on our progress. Our first quarter financial results speak to our ability to relentlessly drive incremental efficiency and simultaneously invest in competitive product differentiation. To begin with, I'll walk through our financial and strategic highlights from the quarter before turning it to Larry to take you through our financial results in more detail and to discuss our updated outlook for 2023.