StubHub Faces H1 Losses Despite Increasing Revenue

StubHub, the major second-hand ticket marketplace, experienced significant net losses in the first half of 2025 despite seeing a marked increase in revenue. This report comes ahead of the company’s impending initial public offering (IPO) in New York.

Earnings breakdown:

• StubHub lost $111.8 million, or $1.84 per share, in the six-month period ending on June 30.

• In the same period last year, the company lost $50.2 million, or $0.82 per share.

• In Q2, net loss attributable to shareholders was $75.9 million. In Q2 2024, it was $20.5 million.

• Q2 revenue took a hit as well, decreasing to $430.3 million from $443.3 million.

• Despite these losses, revenue increased to $827.9 million from $803.5 million YoY in H1.

Expenses vs. tickets sold:

• The losses come from an increase in internal costs for StubHub. In H1 2025, they were $776 million. Up from $750.4 million in H1 2024.

• Q2 2025 costs and expenses increased to $405.2 million from $389.4 million.

• However, gross merchandise sales for the company, which include the total revenue from tickets purchased, rose to $4.38 billion in H1 2025 from $3.94 billion last year.