Eventbrite, Inc. - EB STOCK NEWS

Eventbrite (NYSE: EB) has announced key leadership changes effective November 19, 2024. Anand Gandhi, former CFO of Viator, has been appointed as Chief Financial Officer, bringing 25 years of financial leadership experience. During his tenure at Viator, Gandhi helped achieve profitability and over 100% revenue growth. Lanny Baker, who has served as CFO since 2019, will transition to focus solely on his role as Chief Operating Officer, where he will lead operations, revenue generation, and marketplace transformation efforts. These appointments are strategically designed to accelerate Eventbrite's marketplace transformation and drive its next growth phase.

Eventbrite (EB) reported Q3 2024 financial results with revenue of $77.8 million, down 5% year-over-year but above outlook range. The company processed 65.0 million tickets across 1.4 million events. Key metrics include gross margin of 68.5%, net loss of $3.8 million (including $5.4M reduction in force charges), and Adjusted EBITDA of $5.3 million. The company's marketplace revenue represented 12% of total net revenue. For Q4 2024, Eventbrite expects revenue between $74-77 million, with full-year 2024 revenue projected at $322-326 million and targeted Adjusted EBITDA margin of approximately 10%.

Eventbrite has launched a free timed entry tool that allows event organizers to set up and sell multiple daily time slots. The new feature is designed for tours, attractions, classes, and seasonal events, enabling better capacity management and improved attendee experiences. Key features include unlimited free event publishing, consolidated payouts, BOGO promotional options, and simplified mobile check-in. The platform serves over 93 million event-goers and is currently available in the United States, with international expansion planned for coming months.

Eventbrite (NYSE: EB) has scheduled its third quarter 2024 financial results announcement for Thursday, November 7, 2024, after market close. The company will host an earnings conference call at 2:00 p.m. Pacific Time. Eventbrite, a global events marketplace operating in nearly 180 countries, distributed over 300 million tickets for more than 5 million events in 2023. The company's self-service platform enables event creators to organize and sell tickets while helping attendees discover new experiences.

Eventbrite (NYSE: EB) has announced plans to repurchase $120 million of its existing 5.000% Convertible Senior Notes due 2025. The repurchase, set to settle on August 22, 2024, will be executed through privately negotiated transactions with select noteholders. Eventbrite will pay approximately $120.2 million in cash, including about $1.4 million in accrued and unpaid interest. Following this repurchase, $30 million of the 2025 Notes will remain outstanding. The company's previously established capped call transactions related to these notes will remain in effect. This move demonstrates Eventbrite's proactive approach to managing its debt obligations and potentially improving its financial position.

Eventbrite (NYSE: EB) has announced key executive appointments to drive growth and scale its marketplace. Lanny Baker, the current CFO, has been promoted to Chief Operating and Financial Officer, effective immediately. In this expanded role, Baker will lead business operations, cross-functional performance, and resource optimization, including global sales and customer success teams.

Samantha Wu joins as the new Chief Marketing Officer, effective September 4, 2024. Wu brings over 20 years of marketing experience from companies like Braintrust, Meta/Facebook, Visa, and American Express. She succeeds Tamara Mendelsohn after her 15-year tenure at Eventbrite.

These appointments reflect Eventbrite's evolution into a two-sided marketplace and its focus on sustainable long-term growth and value creation for customers and shareholders.

Eventbrite (NYSE: EB) reported a 7% YoY increase in Q2 2024 revenue to $84.6 million, aligning with its outlook.

Net income reached $1.1 million vs. a loss of $2.9 million last year, with a 1.3% net income margin. Gross margin improved to 70.9% from 68.8%. Adjusted EBITDA was $12.8 million, a 15.2% margin.

The company revised its full-year revenue outlook due to pricing adjustments and plans to reduce operating expenses. Q3 2024 revenue is expected to be between $74 million and $77 million.

Eventbrite aims to cut costs by eliminating 100 positions and expects a 10% Adjusted EBITDA margin for FY 2024, excluding restructuring costs.

Despite 16% fewer total tickets sold YoY, the company saw growth in its marketplace-related revenue and increased mobile app adoption.

Eventbrite (NYSE: EB), a global marketplace for shared experiences, has announced that it will release its financial results for the second quarter ended June 30, 2024, after the market closes on Thursday, August 8, 2024. The company will host an earnings conference call and live webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. Investors can access the live webcast and an archived version on Eventbrite's Investor Relations page.

Eventbrite, founded by Julia Hartz, Kevin Hartz, and Renaud Visage, operates in nearly 180 countries and has distributed over 300 million tickets for more than 5 million events in 2023. The company has received recognition as a top employer, including spots on Fast Company's The World's 50 Most Innovative Companies and Brands That Matter lists.

Eventbrite (NYSE: EB) has partnered with TikTok to enhance event promotion and ticket sales. This collaboration allows Eventbrite creators and TikTok users to add event links directly to TikTok videos, enabling seamless discovery and ticket purchases within the app. The partnership aims to connect event creators with diverse TikTok communities like #BookTok, #NewMusic, and #FoodTok, significantly boosting event visibility and reach.

Key benefits for creators include seamless event promotion, faster ticket sales, and the ability to promote multiple events simultaneously. The feature is available in countries where both TikTok and Eventbrite operate, with eligibility criteria for in-person, publicly-listed events on Eventbrite with paid tickets occurring within specific timeframes.