StubHub reported a $1.9 billion net loss for FY 2025 despite generating $1.7 billion in revenue amid high debt levels.
StubHub, the global ticketing marketplace, reported a net loss of $1.9 billion for fiscal year 2025 on revenue of $1.7 billion. The loss resulted in a negative net margin of 109.2%, reflecting significant operational challenges despite its dominant market position in live event ticketing.
Revenue declined 1.4% year-over-year, signaling potential headwinds in discretionary consumer spending. The company operates under brands StubHub and Viagogo but faces restrictions in certain international markets due to prior competition settlements. Its debt-to-equity ratio remains a key concern for investors evaluating long-term viability.
The results contrast with Build-A-Bear Workshop’s profitability, raising questions about StubHub’s growth trajectory and valuation metrics.