StubHub Holdings (STUB) Q4 FY2025 earnings: revenue $449 million

StubHub Holdings, Inc. (STUB) reported revenue of $449 million for Q4 FY2025, the quarter ended 31 December 2025. Net income was -$535 million, and diluted earnings per share $-1.56. The figures are the company's own, from the 10-K it filed with the SEC on 5 March 2026.

Revenue$449 million

Net income-$535 million

Diluted EPS$-1.56

QuarterQ4 FY2025ended 31 December 2025

The quarter, against the one before and a year earlier

Line	Q4 FY2025	Q3 FY2025	A year earlier	Change on the year
Revenue	449	468	n/a	n/a
Cost of revenue	75.9	101	n/a	n/a
Gross profit	373	368	n/a	n/a
Gross margin	83.1%	78.5%	n/a
Operating income	-27.7	-1,368	n/a	n/a
Operating margin	-6.2%	-292.3%	n/a
Interest expense	18.4	35.4	n/a	n/a
Pre-tax income	-42.4	-1,401	n/a	n/a
Income tax	493	-106	n/a	n/a
Net income	-535	-1,295	n/a	n/a
Net margin	-119.2%	-276.6%	n/a
Diluted EPS	-$1.56	-$4.27	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2025	Q3 FY2025	A year earlier	Change on the year
Operating cash flow	11.1	3.8	n/a	n/a
Capital expenditure	0.2	0.4	n/a	n/a
Free cash flow	10.9	3.4	n/a	n/a
Free cash flow margin	2.4%	0.7%	n/a
Cash from investing	-9.2	-8.4	n/a	n/a
Cash from financing	-153	157	n/a	n/a
Depreciation and amortisation	6.4	6.4	n/a	n/a
Share-based compensation	34.9	1,405	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Diluted shares, weighted	354m	313m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2025	Q3 FY2025	A year earlier	Change on the year
Shareholders' equity	1,184	1,693	n/a	n/a
Redeemable equity	758	n/a	n/a	n/a
Debt	1,507	1,653	n/a	n/a
Other liabilities	1,605	2,255	n/a	n/a
Total liabilities and equity	5,054	5,601	n/a	n/a
Fixed assets	73.3	58.3	n/a	n/a
Goodwill	2,687	2,687	n/a	n/a
Intangible assets	903	909	n/a	n/a
Cash and equivalents	1,242	1,392	n/a	n/a
Receivables	6.9	6.2	n/a	n/a
Inventory	9.2	2.0	n/a	n/a
Other assets	133	547	n/a	n/a
Total assets	5,054	5,601	n/a	n/a

Questions

What was StubHub Holdings' revenue in Q4 FY2025?

StubHub Holdings (STUB) reported revenue of $449 million for Q4 FY2025, the quarter ended 31 December 2025.

How much did StubHub Holdings earn in Q4 FY2025?

Net loss for Q4 FY2025 was $535 million, and the diluted loss per share $1.56.

When did StubHub Holdings report Q4 FY2025 results?

StubHub Holdings filed its 10-K for the year that ended with the quarter on 5 March 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 7 quarters

	Q3 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	434	398	430	468	449	446	573
Cost of revenue	79.6	62.5	75.1	101	75.9	65.8	105
Gross profit	354	335	355	368	373	380	468
Gross margin	82%	84%	83%	79%	83%	85%	82%
Operating income	12.1	26.8	25.1	-1,368	-27.7	25.8	19.5
Operating margin	3%	7%	6%	-292%	-6%	6%	3%
Interest expense	47.5	42.4	43.9	35.4	18.4	17.3	22.2
Pre-tax income	-49.8	-30.7	-71.4	-1,401	-42.4	45.2	12.2
Tax rate	n/a	n/a	n/a	n/a	n/a	-6%	-19%
Net income	-33.0	-22.2	-53.8	-1,295	-535	48.0	14.6
Net margin	-8%	-6%	-13%	-277%	-119%	11%	3%
Diluted EPS	-$0.15	-$0.12	-$0.25	-$4.27	-$1.56	$0.06	$0.00
Operating cash flow	n/a	158	19.3	3.8	11.1	298	322
Capital expenditure	n/a	0.5	0.3	0.4	0.2	0.2	0.4
Free cash flow	n/a	158	19.0	3.4	10.9	298	321
Buybacks	n/a	1.0	0.0	0.0	0.0	0.0	0.0
Filing	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 5 March 2026: the filing.