Eventbrite Provides Updated Business Outlook at Investor and Analyst Day
Eventbrite (NYSE: EB) expects its Q2 2022 revenue to surpass previous outlook, with estimates between
- Q2 2022 revenue expected to be between $64 million and $66 million, exceeding prior estimates.
- Adjusted EBITDA projected to be positive for the fourth consecutive quarter.
- Product roadmap enhancements aimed at increasing demand generation for event creators.
- None.
Second quarter 2022 revenue expected to exceed prior outlook and be within a range of
Highlights Plan for Long-Term Growth
Adjusted EBITDA anticipated to be positive for fourth consecutive quarter
Accelerating product roadmap to drive event marketing and demand generation
“The world is coming back to in-person experiences, and
Revised Q2 2022 Business Outlook
Based upon current information, the Company now anticipates second quarter 2022 revenue will be within a range of
We have not reconciled forward-looking Adjusted EBITDA to net income (loss), the most directly comparable GAAP measure, because we cannot currently predict with reasonable certainty the ultimate outcome of certain components of such reconciliations, including payroll tax expense on employee stock transactions, that are not within our control, or other components that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net income (loss).
Long-Term Growth Drivers
During today’s event, the Company will outline its revenue growth drivers and long-term financial model targets to deliver shareholder value.
Eventbrite Products
The Company will provide an in-depth look at its product roadmap, supporting its evolution from an online ticketing service to a growth platform offering event creators a suite of proprietary marketing tools and features. This creator-centric approach significantly enhances platform functionality and enables creators to efficiently manage their events while seeking to increase the size of their audiences through scalable marketing products.
Eventbrite Boost is an innovative marketing tool that enhances creators’ ability to widen their reach through paid social ads and email marketing. Boost has steadily grown its subscriber base since its introduction in
The Company plans to release more features to Boost in 2022, including Eventbrite Ads, which will allow creators to advertise their events to the millions of consumers who visit the
Investor and Analyst
About
About Non-GAAP Financial Measures
We believe that the use of Adjusted EBITDA is helpful to our investors as it is used by management in assessing the health of our business and our operating performance. This measure is not prepared in accordance with GAAP and has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results of operations as reported under GAAP. In addition, other companies may not calculate non-GAAP financial measures in the same manner as we calculate them, limiting their usefulness as comparative measures. You are encouraged to evaluate the adjustments and the reasons we consider them appropriate.
We believe Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our results of operations, as well as provides a useful measure for period-to-period comparisons of our business performance. Moreover, it is a key measurement used by our management internally to make operating decisions, evaluating performance, and performing strategic planning and annual budgeting.
We calculate Adjusted EBITDA as net loss adjusted to exclude depreciation and amortization, stock-based compensation expense, interest expense, loss on debt extinguishment, direct and indirect acquisition related costs, employer taxes related to employee transactions and other income (expense), which consisted of interest income, foreign exchange rate gains and losses, and income tax provision (benefit). Adjusted EBITDA should not be considered as an alternative to net loss or any other measure of financial performance calculated and presented in accordance with GAAP.
Some of the limitations of Adjusted EBITDA include (i) Adjusted EBITDA does not properly reflect capital spending that occurs off of the income statement or account for future contractual commitments, (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures and (iii) Adjusted EBITDA does not reflect the interest and principal required to service our indebtedness. In evaluating Adjusted EBITDA, you should be aware that in the future we expect to incur expenses similar to the adjustments in this letter. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating our performance, you should consider Adjusted EBITDA alongside other financial performance measures, including our net loss and other GAAP results.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding the Company’s expectations described under “Revised Q2 2022 Business Outlook” above; the Company’s plan for long-term growth and path to potential profitability; the Company’s long-term financial model targets; and the Company’s product roadmap, performance and development activity. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “appears,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause the Company’s actual results, performance, or achievements to differ materially from results expressed or implied in this press release. Investors are cautioned not to place undue reliance on these statements. Actual results could differ materially from those expressed or implied, and reported results should not be considered as an indication of future performance.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties and factors, including those more fully described in the Company’s filings with the
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Eventbrite Investor Relations
investors@eventbrite.com
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FAQ
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