Revenue fell to $126.9 million from $136.4 million, but topped analysts’ estimate of $126.1 million. Vivid Seats recorded a net loss of $17.4 million, compared with a $19.7 million loss in the year-ago quarter.

The company said Monday that its agreement in principle with a majority of its term loan lenders provides for $60 million in new term loans, conversion of some existing debt into equity, a reduction of about $200 million in total funded debt and an extension of the maturity on remaining debt. Vivid Seats said the transaction is intended to strengthen its balance sheet and give it greater financial flexibility to support operations and long-term goals.

Shares rose 7.7% to $2.25 in premarket trading. For the full year, the company maintained its forecast for adjusted earnings before interest, taxes, depreciation and amortization of $34 million to $40 million.