StubHub Announces First Quarter 2026 Results (Form 8-K)

StubHub Announces First Quarter 2026 Results

-Gross Merchandise Sales increased to $2.2 billion, up 7% year over year -

-Revenue increased to $446.0 million, up 12% year over year -

-Adjusted EBITDA increased to $72.1 million; adjusted EBITDA margin up over 400 basis points year over year to 16% -

-Continued progress on debt reduction with additional $100.0 million payment in May -

-Reiterates full-year financial outlook on positive first quarter performance -

NEW YORK, NY - May 13, 2026 - StubHub Holdings, Inc. (NYSE: STUB), a leading global ticketing marketplace for live events, today reported financial results for the first quarter ended March 31, 2026.

"Our first quarter results reflect our disciplined execution in a healthy operating environment for both live events and our resale marketplace," said Eric Baker, Founder, Chairman and Chief Executive Officer of StubHub. "We delivered a positive start to 2026, and we believe we are on track to achieve our full year financial outlook as we grow globally and increase profitability through greater scale."

Mr. Baker continued, "We are progressing with new initiatives, including open distribution (previously called direct issuance) and advertising, that are expected to drive better outcomes for fans and content rights holders and unlock future revenue for StubHub. Our focus remains on building the global destination for consumers to access live events, making it easier for fans to discover and access tickets anywhere in the world."

Financial Highlights

•Gross Merchandise Sales ("GMS")1 of $2.2 billion, a $142.0 million, or 7% increase compared to $2.1 billion in the prior-year period.

•Revenue of $446.0 million, equal to 20% of GMS, a 12% increase compared to $397.6 million in the prior-year period.

•Net income of $48.0 million, representing an 11% net income margin, compared to a net loss of $22.2 million in the prior-year period.

•Adjusted EBITDA1 of $72.1 million, representing a 16% adjusted EBITDA margin, a 50% increase compared to $47.9 million in the prior-year period.

•Net cash provided by operating activities of $298.4 million, inclusive of net inflows of buyer receipts and seller payments, an 88% increase compared to $158.3 million in the prior-year period.

•Free cash flow1 of $290.6 million, a 92% increase compared to $151.1 million in the prior-year period.

•Cash and cash equivalents of $1.5 billion; payments due to sellers of $1.0 billion.

•Further strengthened balance sheet with $100.0 million debt reduction in May.

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Full Year 2026 Financial Outlook

StubHub is reiterating its full year 2026 GMS and adjusted EBITDA outlook:

•GMS of $9.9 billion to $10.1 billion

•Adjusted EBITDA2 of $400 million to $420 million

These guidance ranges constitute forward-looking statements and reflect information available to the company as of the date hereof. There can be no assurance that the company's actual results will not differ materially from the estimates set forth, including as a result of factors outside of the company's control. See cautionary note below regarding "Forward-Looking Statements."

1.For definitions, please refer to "Key Business Metric and Non-GAAP Financial Measures" below. Please also refer to the tables under "Reconciliations of GAAP to Non-GAAP Financial Measures" below.

2.A reconciliation of Adjusted EBITDA guidance to the corresponding GAAP measure is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to results computed in accordance with GAAP. For example, stock-based compensation-related charges are impacted by the timing of employee stock transactions, the future fair market value of Class A common stock, and future hiring and retention needs, all of which are difficult to predict and subject to constant change.

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Conference Call and Webcast Information

StubHub will host a conference call and live webcast to discuss its first quarter 2026 results today at 5:00 p.m. ET.

The live webcast and replay may be accessed on StubHub's investor relations website, investors.stubhub.com, along with a copy of the earnings presentation and this press release.

About StubHub

StubHub is a leading global ticketing marketplace for live events. StubHub services customers in over 200 countries and territories, supporting over 30 languages and accepting payments in over 45 currencies - from sports to music, comedy to dance, festivals to theater. StubHub offers a safe and convenient way to buy or sell tickets to live events across the world for memorable live experiences.