StubHub

StubHub’s stock plummeted 24% after it withheld current quarter financial guidance, citing a “long-term” focus, unsettling investors despite reporting solid Q3 revenue and GMS growth. Revenue rose 8% to $468.1 million and GMS increased 11% to $2.43 billion, exceeding expectations. A net loss of $1.33 billion was attributed to IPO-related stock compensation. Concerns persist around near-term visibility, competition and achieving sustainable profitability. Wedbush maintains an outperform rating despite expressing surprise at the lack of guidance.

StubHub (STUB) shares fell 5% after hours following its first earnings report post-IPO in September 2025. While Q3 revenue beat expectations at $468.1 million, the company reported a significant $1.33 billion net loss, or $4.27 per share, attributed to a $1.4 billion IPO-related stock compensation charge. Gross Merchandise Sales (GMS) increased 11% year-over-year to $2.43 billion, but analysts cited challenging comparisons due to the prior year’s “Swift lift.” Since its $23.50 IPO, the stock has declined roughly 20%.

StubHub’s NYSE debut has been disappointing, with shares down 18% since its IPO due to concerns about valuation and long-term prospects. This contrasts with successful recent tech IPOs. The company faces challenges including regulatory scrutiny of ticket pricing, a “one-time” negative impact from new transparency laws, and increasing competition. Despite a 10% revenue increase in the first quarter, StubHub’s net loss also widened. The company’s success hinges on navigating these challenges and demonstrating long-term growth potential amidst a recovering tech IPO market.

StubHub began trading on the NYSE (“STUB”) after pricing its IPO at $23.50 per share, valuing the company at $8.6 billion. CEO Eric Baker anticipates a temporary revenue dip due to new federal regulations mandating transparent, all-in ticket pricing. Baker believes this shift will ultimately benefit the industry by creating a level playing field and boosting consumer trust, despite an initial market adjustment period. The IPO follows scrutiny of online ticket platforms and aims to combat deceptive pricing tactics.

StubHub priced its IPO at $23.50 per share, valuing the company at approximately $8.6 billion. Shares will trade on the NYSE under the ticker “STUB” starting Wednesday. Founded in 2000 and reacquired by co-founder Eric Baker in 2020, StubHub’s IPO follows delays and market volatility. First-quarter revenue increased 10% year-over-year to $397.6 million, with a net loss of $35.9 million. The IPO’s performance will be a key indicator of investor confidence in the event ticket marketplace.

StubHub Holdings, the leading global secondary ticketing marketplace, announced the pricing of its IPO at $23.50 per share, offering over 34 million shares. Trading on the NYSE under “STUB” begins September 17, 2025. J.P. Morgan and Goldman Sachs are leading the offering, which reflects strong investor confidence in the live events sector. StubHub, operating in North America and internationally via viagogo, serves customers globally in multiple languages and currencies, facilitating ticket sales for diverse live events. Its success hinges on navigating competition and leveraging technology.

StubHub aims to raise up to $851 million in its IPO, valuing the company at potentially $9.2 billion, offering shares between $22 and $25 each. The IPO follows previous delays due to market volatility. StubHub will trade on the NYSE under the ticker “STUB.” The company’s Q1 revenue increased 10% to $397.6 million, with operating income at $26.8 million, but net loss widened to $35.9 million. Reacquired by co-founder Eric Baker in 2020, StubHub initially sought a $16.5 billion valuation.