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Vivid Seats vs Xponential Fitness: SEAT and XPOF compared
Vivid Seats is the larger company: $104M of revenue in its latest quarter (Q2 2026) against $62.3M for Xponential Fitness (Q3 2026). Vivid Seats is growing faster (-9% against -21% a year earlier). Xponential Fitness is more profitable, with an operating margin of 31.4% against -13.8%.
Where the money goes: SEAT and XPOF
Vivid Seats (SEAT) · Q2 2026
Vivid Seats, Q2 2026: revenue $104M (-9% year over year), operating margin -13.8%, net loss $14.3M, operating cash flow −$799K. The chart follows the revenue to costs, profit and cash.
Xponential Fitness (XPOF) · Q3 2026
Xponential Fitness, Q3 2026: revenue $62.3M (-21% year over year), operating margin 31.4%, net earnings $4.2M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
| Vivid Seats (SEAT) | Xponential Fitness (XPOF) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $104M | $62.3M |
| Revenue growth, Y/Y | -9% | -21% |
| Operating margin | -13.8% | 31.4% |
| Net earnings | −$14.3M | $4.2M |
| Net margin | -13.8% | 6.8% |
| Operating cash flow | −$799K | $4.6M |
| Free cash flow | — | $4.1M |
Where the revenue comes from
Vivid Seats
- Concerts: $42.4M (41%)
- Sports: $41.7M (40%)
- Theater: $15.9M (15%)
- Other: $3.9M (4%)
Xponential Fitness
- Franchise revenue: $43.4M (70%)
- Franchise marketing fund revenue: $8.5M (14%)
- Other service revenue: $5.7M (9%)
- Equipment revenue: $4.3M (7%)
Questions
Which is bigger, Vivid Seats or Xponential Fitness?
Vivid Seats is the larger company: $104M of revenue in its latest quarter (Q2 2026) against $62.3M for Xponential Fitness (Q3 2026).
Is Vivid Seats or Xponential Fitness growing faster?
Vivid Seats is growing faster (-9% against -21% a year earlier).
Which is more profitable, Vivid Seats or Xponential Fitness?
Xponential Fitness is more profitable, with an operating margin of 31.4% against -13.8%.
More: Vivid Seats earnings · how Vivid Seats makes money · Xponential Fitness earnings · how Xponential Fitness makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 4, 2026; 8-K filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.