Stubhub - CL | 8-K: FY2025 Q3 Revenue: USD 468.11 M

Revenue: As of FY2025 Q3, the actual value is USD 468.11 M.

EPS: As of FY2025 Q3, the actual value is USD -4.27.

EBIT: As of FY2025 Q3, the actual value is USD -1.346 B.

Gross Merchandise Sales (GMS)

• $2.4 billion, up 11% year-over-year. Excluding the impact of the Taylor Swift ‘Eras’ Tour, GMS grew 24% year-over-year.

Revenue

• $468 million, up 8% year-over-year and equal to 19% of GMS.

Net Loss

• $1.3 billion, reflecting a one-time stock-based compensation charge of $1.4 billion related to the Company’s initial public offering (IPO).

Adjusted EBITDA

• $67 million, up 21% year-over-year and representing a 14% margin.

Cash Flow

• Net cash provided by operating activities: $181.4 million for the nine months ended September 30, 2025.
• Free cash flow: $156.2 million for the nine months ended September 30, 2025.

Unique Metrics

• Successfully completed IPO, listing on the New York Stock Exchange in September 2025, raising approximately $1 billion in gross proceeds.
• Strengthened the balance sheet by using net IPO proceeds to repay approximately $750 million of debt, reducing Net Leverage to 3.9x trailing twelve months Adjusted EBITDA.
• Secured and announced a multi-year partnership with Major League Baseball to distribute primary ticket inventory through Direct Issuance technology, expanding fan access to MLB games beginning with the 2026 season.

Outlook / Guidance

• The company is focused on advancing its long-term strategy to make live entertainment more accessible for fans everywhere.
• StubHub aims to build a differentiated consumer product that improves the experience for fans while unlocking better economics for venues, teams, and artists through open distribution.