StubHub Q2: Revenue +33%, Adjusted EBITDA +94%, but Material Weaknesses Persist
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, but disclosed continued material weaknesses in internal controls and new insider selling plans.
Key Events · Earnings and Guidance · STUB
-
Q2 Revenue +33% to $573.1M
Revenue grew 33.2% YoY to $573.1M, driven by 34% GMS growth to $3.1B, led by the World Cup.
-
Adjusted EBITDA Nearly Doubles
Adjusted EBITDA rose 94% to $105.7M, with margin expanding to 18% of revenue from 13% a year ago.
-
Net Income Swings Positive
Net income was $14.6M in Q2 2026 versus a $53.8M loss in Q2 2025, helped by lower interest expense and favorable FX.
-
Material Weaknesses Persist
The company confirmed that material weaknesses in internal control over financial reporting, first disclosed in the 2025 10-K, continued to exist as of June 30, 2026.
Analysis · STUB · Trade & Services
StubHub delivered a strong Q2 with revenue up 33% to $573.1M and Adjusted EBITDA nearly doubling to $105.7M, driven by 34% GMS growth. The company swung to a net profit of $14.6M from a $53.8M loss a year ago. However, the 10-Q confirms that material weaknesses in internal control over financial reporting remain unremediated, a governance red flag that keeps the score elevated. The CFO and CAO also adopted 10b5-1 plans to sell up to 529,182 shares combined, adding insider selling pressure.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 34.9% of the 1020 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.54%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, STUB was trading at $7.10 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 neutral market sentiment and an importance score of 8 out of 10.