Vivid Seats Inc. (NASDAQ:SEAT) Q1 2024 Earnings Conference Call May 7, 2024 8:30 AM ET
Company Participants
Stan Chia - CEO
Larry Fey - CFO
Kate Africk - Head of IR
Conference Call Participants
Ryan Sigdahl - Craig-Hallum Capital Group
Curt Nagle - BOA
Dan Kurnos - The Benchmark Company
Maria Ripps - Canaccord
Matt Farrell - Piper Sandler
Cameron Mansson-Perrone - Morgan Stanley
Thomas Forte - Maxim Group
Andrew Marok - Raymond James
Ralph Schackart - William Blair
Operator
Good morning, and welcome to the Vivid Seats First Quarter 2024 Earnings Conference Call. Following managements 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 first quarter 2024 earnings conference call. I'm Kate Africk, 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. 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, that could cause actual results to differ materially, including the risks and uncertainties described in our earnings press release and most recent annual report on Form 10-K, and our 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. To the extent reasonably available, a reconciliation of these non-GAAP financial measures to their corresponding GAAP measures, can be found in our earnings press release and supplemental earnings slides.
And now, I would like to turn the call over to Stan.
Stan Chia
Good morning, everyone, and thank you for joining us today. We're off to a great start in 2024 with strong financial results and substantial progress made on key strategic initiatives. These results are a testament to our strong market position, superior and differentiated offering, as well as the consistent execution of our talented team to keep raising the bar.
Today, I'll walk you through our financial highlights and then provide an update on our strategic initiatives. Then, Larry will speak to our financial results in more detail. In the first quarter, we delivered over $1 billion of marketplace GOV for the second quarter in a row, along with $191 million of revenues and $39 million of adjusted EBITDA.