Vivid Seats appoints Lawrence Fey CEO, reports Q3 revenue decline

Vivid Seats Inc. (NASDAQ: SEAT) announced that Lawrence Fey, the company's chief financial officer, will succeed Stan Chia as chief executive officer, effective immediately. The Chicago-based ticket marketplace also reported third-quarter financial results showing significant declines across key metrics.

For the third quarter ended September 30, 2025, Vivid Seats reported marketplace gross order value of $618.1 million, down 29% from $871.7 million in the same period last year. Revenue fell 27% to $136.4 million from $186.6 million in Q3 2024.

The company posted a net loss of $19.7 million compared to net income of $9.2 million in the prior-year quarter. Adjusted EBITDA dropped to $4.9 million from $34.1 million in Q3 2024.

Chia, who served as CEO since 2018, will remain in an advisory role through December 1, 2025. Ted Pickus, the company's chief accounting officer since 2022, has been named interim chief financial officer while a permanent successor is identified.

Fey announced the company is more than doubling its annualized cost savings target to $60 million and has simplified its corporate structure. For 2026, Vivid Seats provided initial guidance of marketplace gross order value between $2.2 billion and $2.6 billion, with adjusted EBITDA projected at $30.0 million to $40.0 million.

The company also completed a corporate simplification agreement in October that eliminated its dual-class structure and terminated its Tax Receivable Agreement in exchange for 403,022 shares of Class A common stock. The transactions are expected to result in up to $180 million in lifetime savings.

You May Also Be Interested In

• LivePerson adjourns stockholder vote on SoundHound AI merger to Sept. 2
• Alzamend Neuro fMRI data accepted for neuroscience conference poster
• LSI Industries CFO to retire in 2027, successor search underway