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Vivid Seats Overstates Operating Cash Flow By $44 Million
Ticket reseller says year-old misstatement is not material.
March 27, 2023
Vivid Seats (SEAT), an operator of a digital secondary marketplace for tickets, overstated its operating cash flow in 2021 by 25% after misclassifying a significant expense. The company says it misclassified a $44.1 million payment of previously deferred interest as an outflow from financing rather than operating activities.

The misstatement resulted in Vivid Seats reporting $279.9 million in operating cash flow in the year ended December 31, 2021. The error was corrected in the company’s latest annual report— which shows a revised 2021 operating cash flow of $175.7 million:

“We therefore conducted an evaluation…and concluded that the impact of the cash flow classification error was not material to the previously issued financial statements.”
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