Eventbrite Reports Third Quarter 2023 Financial Results

Rhea-AI Summary

Eventbrite, Inc. reported a 21% YoY growth in revenue to $81.5 million in the third quarter. Adjusted EBITDA increased by over 50% YoY to an 8% margin. The successful launch of Flex and Pro event pricing plans contributed to the growth, providing social media and email marketing tools to all creators. Marketplace-related revenue grew 78% QoQ, exceeding 5% of net revenue.

Revenue of $81.5 million grew 21% year-over-year based on paid ticket growth and a record revenue take rate

Adjusted EBITDA up more than 50% year-over-year to an 8% margin in the third quarter

Successful launch of Flex and Pro event pricing plans provides social media and email marketing tools to all creators

Marketplace-related revenue from Eventbrite Ads, organizer fees, and subscriptions grew 78% quarter-over-quarter to exceed 5% of net revenue

SAN FRANCISCO--(BUSINESS WIRE)-- Eventbrite, Inc. (NYSE:EB), a global events marketplace, today posted its financial results for the third quarter ended September 30, 2023. The Third Quarter Shareholder Letter can be found on Eventbrite’s Investor Relations website at https://investor.eventbrite.com.

“We’re proud of our strong execution in the third quarter as we achieved record take rate and revenue per ticket. The successful launch of our new pricing packages has unlocked our highly effective suite of powerful marketing tools for all creators, helping grow their audiences like never before, and accelerating our marketplace momentum,” said Julia Hartz, Co-Founder and Chief Executive Officer. “Looking ahead, we are excited to drive further growth through investments in areas like personalization and event discovery, which harness the power of our scale and trusted consumer brand and further solidify our position as the world’s leading live experiences destination.”

Earnings Webcast Information

Eventbrite will host a conference call and live Q&A session today at 2:00 p.m. Pacific Time to discuss the company’s third quarter financial results. The webcast of the conference call can be accessed as follows:

Event: Eventbrite Third Quarter 2023 Earnings Conference Call

Date: Wednesday, November 1, 2023

Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)

Live Webcast Site: https://investor.eventbrite.com

An archived webcast of the conference call will also be accessible on Eventbrite’s Investor Relations page, https://investor.eventbrite.com.

About Eventbrite

Eventbrite is a global events marketplace that serves event creators and event goers in nearly 180 countries. Since inception, Eventbrite has been at the center of the experience economy, transforming the way people organize and attend events. The company was founded by Julia Hartz, Kevin Hartz and Renaud Visage, with a vision to build a self-service platform that would make it possible for anyone to create and sell tickets to live experiences. With over 280 million tickets distributed for over 5 million total events in 2022, Eventbrite is where people all over the world discover new things to do or new ways to do more of what they love. Eventbrite has also earned industry recognition as a top employer with special designations that include a coveted spot on Fast Company’s prestigious The World’s 50 Most Innovative Companies and Fast Company’s Brands That Matter lists, the Great Place to Work® Award in the U.S., and Inc. 's Best-Led Companies honor. Learn more at www.eventbrite.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231101089885/en/

Eventbrite Investor Relations

investors@eventbrite.com

Source: Eventbrite, Inc.

FAQ

What is the revenue growth rate reported by Eventbrite, Inc. in the third quarter?

Eventbrite, Inc. reported a 21% year-over-year revenue growth in the third quarter.

How much did the Adjusted EBITDA margin increase by YoY?

The Adjusted EBITDA margin increased by over 50% year-over-year to reach 8% in the third quarter.

What were the key contributions to the revenue growth?

The successful launch of Flex and Pro event pricing plans provided social media and email marketing tools to all creators, contributing to the revenue growth.

How much did the marketplace-related revenue grow quarter-over-quarter?

The marketplace-related revenue grew 78% quarter-over-quarter, exceeding 5% of net revenue.

Where can the Third Quarter Shareholder Letter be found?

The Third Quarter Shareholder Letter can be found on Eventbrite's Investor Relations website at https://investor.eventbrite.com.

When will Eventbrite host the conference call to discuss the third quarter financial results?

Eventbrite will host a conference call and live Q&A session on Wednesday, November 1, 2023, at 2:00 p.m. Pacific Time.