StubHub Q2: Record GMS, 94% EBITDA Growth, Raised FY26 Outlook
STUB sits 24% above its 52-week low of $5.74.
Summary
StubHub reported record Q2 results with 34% GMS growth and 94% adjusted EBITDA growth, raised FY26 GMS guidance, and strengthened its balance sheet.
Key Events · Earnings and Guidance · STUB
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Record Q2 GMS and Revenue
GMS increased 34% YoY to $3.1 billion; revenue increased 33% YoY to $573.1 million.
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Adjusted EBITDA Nearly Doubles
Adjusted EBITDA rose 94% to $105.7 million, with margin expanding nearly 600 bps to 18%.
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FY26 GMS Guidance Raised
Full-year GMS outlook increased to $10.1-$10.3 billion; adjusted EBITDA guidance reiterated at $400-$420 million.
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Balance Sheet Strengthened
Net leverage improved to 3.0x from 4.5x; $200M debt reduction YTD including $100M payment in July.
Analysis · STUB · Trade & Services
StubHub delivered a blowout quarter with GMS up 34% to a record $3.1 billion and adjusted EBITDA nearly doubling to $105.7 million. The company raised its full-year GMS guidance to $10.1-$10.3 billion and reiterated adjusted EBITDA of $400-$420 million, signaling confidence in continued live-event demand. Net leverage improved dramatically to 3.0x from 4.5x, supported by $200 million in debt reduction this year. This is a strong operational beat that materially improves the investment thesis.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 36.1% of the 1051 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, STUB was trading at $7.13 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.2B. The 52-week trading range was $5.74 to $27.89. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.