Vivid Seats Inc. has released its financial results for the second quarter of 2025, reporting a significant decline in several key metrics compared to the same period in the previous year. The company reported a net loss of $263.3 million, a substantial increase from the $1.2 million loss reported in Q2 2024. Revenues decreased by 28%, down to $143.6 million from $198.3 million in Q2 2024. Marketplace Gross Order Value (GOV) also saw a decline, falling 31% to $685.5 million from $998.1 million the previous year. Adjusted EBITDA dropped to $14.4 million, a decrease of $29.8 million from $44.2 million in Q2 2024. The company has announced a 1-for-20 reverse stock split of its Class A and Class B common stock, which will be effective later today. Additionally, Vivid Seats has identified $25 million in annualized cost savings to be fully actioned by the end of 2025 as part of a cost reduction program aimed at enhancing long-term efficiency. This program is expected to stabilize the top line and provide a leading value proposition for fans and sellers. No financial guidance for the year ending December 31, 2025, has been provided at this time. However, the company anticipates positive cash flow in the third quarter, driven by typical seasonality improvements and an expectation that June's industry volume softness was atypical.