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Eventbrite Reports Third Quarter 2024 Financial Results

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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 (EB) ha riportato i risultati finanziari del Q3 2024 con entrate di 77,8 milioni di dollari, in calo del 5% rispetto all’anno precedente, ma superiore alle aspettative. L'azienda ha elaborato 65,0 milioni di biglietti per 1,4 milioni di eventi. I principali indicatori includono un margine lordo del 68,5%, una perdita netta di 3,8 milioni di dollari (compresi i 5,4 milioni di dollari di spese per riduzioni di personale) e un EBITDA rettificato di 5,3 milioni di dollari. Le entrate del marketplace dell'azienda hanno rappresentato il 12% del totale delle entrate nette. Per il Q4 2024, Eventbrite prevede entrate tra 74 e 77 milioni di dollari, con un fatturato complessivo per il 2024 stimato tra 322 e 326 milioni di dollari e un margine di EBITDA rettificato previsto di circa il 10%.

Eventbrite (EB) reportó resultados financieros del Q3 2024 con ingresos de 77.8 millones de dólares, una disminución del 5% en comparación con el año anterior, pero por encima del rango esperado. La compañía procesó 65.0 millones de boletos en 1.4 millones de eventos. Las métricas clave incluyen un margen bruto del 68.5%, una pérdida neta de 3.8 millones de dólares (incluyendo 5.4 millones de dólares en cargos por reducción de personal) y un EBITDA ajustado de 5.3 millones de dólares. Los ingresos del mercado de la compañía representaron el 12% del total de ingresos netos. Para el Q4 2024, Eventbrite espera ingresos entre 74 y 77 millones de dólares, con ingresos proyectados para todo el año 2024 de entre 322 y 326 millones de dólares y un margen de EBITDA ajustado objetivo de aproximadamente el 10%.

Eventbrite (EB)는 2024년 3분기 재무 결과를 보고하며 매출 7780만 달러를 기록했습니다. 이는 전년 대비 5% 감소했지만 전망 범위를 초과한 수치입니다. 회사는 1.4백만 개의 이벤트에서 6500만 장의 티켓을 처리했습니다. 주요 지표로는 68.5%의 총 마진, 380만 달러의 순손실(인원 감축 비용으로 540만 달러 포함), 그리고 530만 달러의 조정 EBITDA가 있습니다. 회사의 시장 매출은 총 순매출의 12%를 차지했습니다. 2024년 4분기에는 7400만 달러에서 7700만 달러 사이의 매출을 예상하며, 2024년 전체 매출은 3억2200만 달러에서 3억2600만 달러로 추정하고 조정된 EBITDA 마진 목표는 약 10%입니다.

Eventbrite (EB) a annoncé les résultats financiers du 3ème trimestre 2024 avec des revenus de 77,8 millions de dollars, en baisse de 5 % par rapport à l'année précédente, mais au-dessus des prévisions. La société a traité 65,0 millions de billets lors de 1,4 million d'événements. Les indicateurs clés incluent une marge brute de 68,5 %, une perte nette de 3,8 millions de dollars (y compris 5,4 millions de dollars de charges liées à une réduction de personnel) et un EBITDA ajusté de 5,3 millions de dollars. Les revenus du marché de l'entreprise ont représenté 12 % des revenus nets totaux. Pour le 4ème trimestre 2024, Eventbrite s'attend à des revenus compris entre 74 et 77 millions de dollars, avec un chiffre d'affaires total pour 2024 projeté entre 322 et 326 millions de dollars et une marge EBITDA ajustée cible d'environ 10 %.

Eventbrite (EB) hat die Finanzzahlen für das 3. Quartal 2024 veröffentlicht mit Umsätzen von 77,8 Millionen Dollar, was einem Rückgang von 5% im Jahresvergleich entspricht, aber über der Prognose liegt. Das Unternehmen hat 65,0 Millionen Tickets für 1,4 Millionen Veranstaltungen bearbeitet. Wichtige Kennzahlen umfassen eine Bruttomarge von 68,5%, einen Nettoverlust von 3,8 Millionen Dollar (einschließlich 5,4 Millionen Dollar an Entlassungskosten) und ein angepasstes EBITDA von 5,3 Millionen Dollar. Die Markteinnahmen des Unternehmens machten 12% des gesamten Nettoumsatzes aus. Für das 4. Quartal 2024 erwartet Eventbrite Einnahmen zwischen 74 und 77 Millionen Dollar, mit einem gesamten Jahresumsatz 2024, der auf 322 bis 326 Millionen Dollar geschätzt wird, und einer angestrebten angepassten EBITDA-Marge von etwa 10%.

Positive
  • Revenue of $77.8M exceeded company outlook range
  • Gross margin improved to 68.5% from 68.3% YoY
  • Net loss reduced by 62% YoY to $3.8M from $9.9M
  • Average ticket value increased 3% to $40.30
Negative
  • Revenue declined 5% YoY to $77.8M
  • Total ticket volume decreased 16% YoY to 65.0M
  • Paid ticket volume dropped 14% YoY to 19.7M
  • Total creators decreased 16% YoY to 333
  • Adjusted EBITDA declined 17% YoY to $5.3M

Third quarter revenue of $77.8 million, above the outlook range

Consumer reach totaled over 93 million with paid ticket volume of 19.7 million in Q3

Creator acquisition improved following the introduction of the free tier in September

SAN FRANCISCO--(BUSINESS WIRE)-- Eventbrite (NYSE: EB), a global marketplace for shared experiences, reported its financial results for the third quarter ended September 30, 2024. The Third Quarter 2024 Shareholder Letter can be found on Eventbrite’s Investor Relations website at https://investor.eventbrite.com.

“In the third quarter, our results were above our outlook range and the actions we took on pricing in September have begun to benefit creator acquisition,” said Julia Hartz, Co-Founder, Chief Executive Officer, and Executive Chair. “We launched timed entry, are elevating our customer service and support to help creators grow, and are expanding personalization and discoverability to drive more consumers to our platform. We remain confident in our marketplace strategy, as we work to drive sustainable long-term growth and shareholder value by focusing on execution and delighting consumers and creators with great experiences.”

Third Quarter 2024 Highlights

  • Net Revenue of $77.8 million, down 5% year-over-year. Marketplace-related revenue from organizer fees and Eventbrite Ads at 12% of total net revenue.
  • Total free and paid ticket volume of 65.0 million tickets across 1.4 million events.
  • Gross Margin of 68.5% vs 68.3% a year ago.
  • Net Loss of ($3.8) million and Net Loss Margin of (4.8%), which includes $5.4 million from reduction in force charges, compared to net loss of ($9.9) million and Net Loss Margin of (12.2)% in the same period last year.
  • Adjusted EBITDA of $5.3 million, and Adjusted EBITDA margin of 6.9%.1

1 For more information on these non-GAAP financial measures, please see "―About non-GAAP financial measures" and the tables under "―Reconciliation of GAAP to non-GAAP financial results" included at the end of this release.

The summary of GAAP and non-GAAP consolidated financial results are in the table below (in thousands, except percentages, unaudited):

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

2024

 

 

 

2023

 

 

% Change

 

 

2024

 

 

 

2023

 

 

% Change

Gross ticket sales

$

795,367

 

 

$

892,431

 

 

(11

)%

 

$

2,489,364

 

 

$

2,688,794

 

 

(7

)%

Net revenue

$

77,801

 

 

$

81,544

 

 

(5

)%

 

$

248,604

 

 

$

238,370

 

 

4

%

Gross profit

$

53,258

 

 

$

55,677

 

 

(4

)%

 

$

174,418

 

 

$

161,505

 

 

8

%

Gross profit margin

 

68

%

 

 

68

%

 

 

 

 

70

%

 

 

68

%

 

 

Net income (loss)

$

(3,768

)

 

$

(9,935

)

 

(62

)%

 

$

(7,195

)

 

$

(25,542

)

 

(72

)%

Net income (loss) margin

 

(5

)%

 

 

(12

)%

 

 

 

 

(3

)%

 

 

(11

)%

 

 

Adjusted EBITDA (non-GAAP)

$

5,337

 

 

$

6,403

 

 

(17

)%

 

$

28,586

 

 

$

19,858

 

 

44

%

Adjusted EBITDA margin (non-GAAP)

 

7

%

 

 

8

%

 

 

 

 

11

%

 

 

8

%

 

 

Operating Highlights

The key operating metrics of our business are summarized below (in thousands, except average ticket value, unaudited):

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2024

 

2023

 

% Change

 

2024

 

2023

 

% Change

Total tickets

 

64,985

 

 

77,257

 

(16

)%

 

 

197,597

 

 

231,274

 

(15

)%

Paid tickets

 

19,736

 

 

22,855

 

(14

)%

 

 

62,195

 

 

69,320

 

(10

)%

Total events

 

1,357

 

 

1,572

 

(14

)%

 

 

3,655

 

 

3,979

 

(8

)%

Paid events

 

509

 

 

561

 

(9

)%

 

 

1,349

 

 

1,381

 

(2

)%

Total creators

 

333

 

 

395

 

(16

)%

 

 

640

 

 

716

 

(11

)%

Paid creators

 

163

 

 

185

 

(12

)%

 

 

313

 

 

329

 

(5

)%

Average ticket value (ATV)

$

40.30

 

$

39.05

 

3

%

 

$

40.03

 

$

38.79

 

3

%

Total ticket buyers

 

26,604

 

 

31,420

 

(15

)%

 

 

65,894

 

 

75,742

 

(13

)%

 

Business Outlook

The company expects fourth quarter 2024 revenue to be within a range of $74 to $77 million, and full-year 2024 revenue will be within a range of $322 million to $326 million. At the midpoint of our revenue outlook range, we expect Adjusted EBITDA margin, excluding the impact of severance costs and other non-routine items, to be approximately 10% for the year.

We have not provided an outlook for GAAP net income (loss) or GAAP net income (loss) margin or reconciliations of expected Adjusted EBITDA to GAAP net income (loss) or expected Adjusted EBITDA margin to GAAP net income (loss) margin, because GAAP net income (loss) and GAAP net income (loss) margin on a forward-looking basis are not available without unreasonable efforts due to the potential variability and complexity of the items that are excluded from Adjusted EBITDA and Adjusted EBITDA margin, such as stock-based compensation expense, foreign exchange rate gains and losses, and other non-recurring expenses.

Earnings Webcast Information

Event: Eventbrite Third Quarter 2024 Earnings Conference Call
Date: Thursday, November 7, 2024
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 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 its inception, Eventbrite has been at the center of the experience economy, transforming how 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 300 million tickets distributed for over 5 million events in 2023, Eventbrite is where people worldwide 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.

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 future performance of Eventbrite, Inc. and its consolidated subsidiaries (the “Company”); the Company’s expectations with respect to its operating model and marketplace strategy; and the Company’s expectations described under “Business Outlook” above. 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 the Company’s 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, including those more fully described in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Investors are cautioned not to place undue reliance on these statements. Actual results could differ materially from those expressed or implied. All forward-looking statements are based on information and estimates available to the Company at the time of this release, and are not guarantees of future performance, and reported results should not be considered as an indication of future performance. Except as required by law, the Company assumes no obligation to update any of the statements in this press release.

Disclaimer Regarding Ticketing, Creator and Event Metrics

This press release includes certain measures related to our ticketing business, such as paid tickets, paid creators, ticket buyers, average ticket value, and paid events. We believe that the use of these metrics is helpful to our investors as these metrics are used by management in assessing the health of our business and our operating performance. These metrics are based on what we believe to be reasonable estimates for the applicable period of measurement. There are inherent challenges in measuring these metrics, and we regularly review and may adjust our processes for calculating our internal metrics to improve their accuracy. You should not consider these metrics in isolation or as substitutes for analysis of our results of operations as reported under GAAP.

 

Condensed Consolidated Balance Sheets
(in thousands; unaudited)

 
 

 

September 30,
2024

 

December 31,
2023

Assets

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

530,957

 

 

$

489,200

 

Funds receivable

 

30,190

 

 

 

48,773

 

Short-term investments, at amortized cost

 

24,665

 

 

 

153,746

 

Accounts receivable, net

 

3,224

 

 

 

2,814

 

Creator signing fees, net

 

4,399

 

 

 

634

 

Creator advances, net

 

6,157

 

 

 

2,804

 

Prepaid expenses and other current assets

 

11,692

 

 

 

13,880

 

Total current assets

 

611,284

 

 

 

711,851

 

Creator signing fees, net noncurrent

 

3,924

 

 

 

1,303

 

Property and equipment, net

 

13,549

 

 

 

9,384

 

Operating lease right-of-use assets

 

950

 

 

 

177

 

Goodwill

 

174,388

 

 

 

174,388

 

Acquired intangible assets, net

 

7,017

 

 

 

13,314

 

Other assets

 

6,261

 

 

 

2,913

 

Total assets

$

817,373

 

 

$

913,330

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities

 

 

 

Accounts payable, creators

$

355,074

 

 

$

303,436

 

Accounts payable, trade

 

1,127

 

 

 

1,821

 

Chargebacks and refunds reserve

 

9,057

 

 

 

8,088

 

Accrued compensation and benefits

 

5,506

 

 

 

17,522

 

Accrued taxes

 

5,243

 

 

 

8,796

 

Operating lease liabilities

 

2,010

 

 

 

1,523

 

Other accrued liabilities

 

13,542

 

 

 

16,425

 

Total current liabilities

 

391,559

 

 

 

357,611

 

Accrued taxes, noncurrent

 

4,546

 

 

 

4,526

 

Operating lease liabilities, noncurrent

 

956

 

 

 

1,768

 

Long-term debt

 

240,395

 

 

 

357,668

 

Other liabilities

 

79

 

 

 

 

Total liabilities

 

637,535

 

 

 

721,573

 

Stockholders’ equity

 

 

 

Common stock

 

1

 

 

 

1

 

Additional paid-in capital

 

1,041,894

 

 

 

1,007,190

 

Treasury stock at cost

 

(39,428

)

 

 

 

Accumulated deficit

 

(822,629

)

 

 

(815,434

)

Total stockholders’ equity

 

179,838

 

 

 

191,757

 

Total liabilities and stockholders’ equity

$

817,373

$

913,330

 

Condensed Consolidated Statement of Operations
(in thousands, except share and per share amounts; unaudited)

 
 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Net revenue

$

77,801

 

 

$

81,544

 

 

$

248,604

 

 

$

238,370

 

Cost of net revenue

 

24,543

 

 

 

25,867

 

 

 

74,186

 

 

 

76,865

 

Gross profit

 

53,258

 

 

 

55,677

 

 

 

174,418

 

 

 

161,505

 

Operating expenses

 

 

 

 

 

 

 

Product development

 

22,586

 

 

 

23,041

 

 

 

75,327

 

 

 

73,091

 

Sales, marketing and support

 

23,694

 

 

 

21,063

 

 

 

69,084

 

 

 

53,802

 

General and administrative

 

15,930

 

 

 

23,137

 

 

 

52,983

 

 

 

66,681

 

Total operating expenses

 

62,210

 

 

 

67,241

 

 

 

197,394

 

 

 

193,574

 

Loss from operations

 

(8,952

)

 

 

(11,564

)

 

 

(22,976

)

 

 

(32,069

)

Interest income

 

6,056

 

 

 

7,569

 

 

 

20,845

 

 

 

19,948

 

Interest expense

 

(2,084

)

 

 

(2,821

)

 

 

(7,690

)

 

 

(8,359

)

Other income (expense), net

 

1,420

 

 

 

(2,357

)

 

 

3,892

 

 

 

(3,230

)

Loss before income taxes

 

(3,560

)

 

 

(9,173

)

 

 

(5,929

)

 

 

(23,710

)

Income tax provision

 

208

 

 

 

762

 

 

 

1,266

 

 

 

1,832

 

Net loss

$

(3,768

)

 

$

(9,935

)

 

$

(7,195

)

 

$

(25,542

)

Net loss per share, basic and diluted

$

(0.04

)

 

$

(0.10

)

 

$

(0.08

)

 

$

(0.26

)

Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted

 

96,498

 

 

 

100,540

 

 

 

95,571

 

 

 

100,030

 

 

Condensed Consolidated Statements of Cash Flows
(in thousands; unaudited)

 
 

 

Nine Months Ended September 30,

 

 

2024

 

 

 

2023

 

Cash flows from operating activities

 

 

 

Net loss

$

(7,195

)

 

$

(25,542

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

11,189

 

 

 

9,934

 

Stock-based compensation expense

 

39,484

 

 

 

41,161

 

Amortization of debt discount and issuance costs

 

1,512

 

 

 

1,557

 

Loss on debt extinguishment

 

315

 

 

 

 

Unrealized (gain) loss on foreign currency exchange

 

741

 

 

 

(103

)

Accretion on short-term investments

 

(3,112

)

 

 

(5,477

)

Non-cash operating lease expenses

 

463

 

 

 

5,088

 

Amortization of creator signing fees

 

777

 

 

 

742

 

Changes related to creator advances, creator signing fees, and allowance for credit losses

 

(2,434

)

 

 

(1,671

)

Provision for chargebacks and refunds

 

21,015

 

 

 

9,549

 

Gain on litigation settlement

 

(3,927

)

 

 

 

Other

 

796

 

 

 

1,464

 

Changes in operating assets and liabilities

 

 

 

Accounts receivable

 

(1,731

)

 

 

(1,181

)

Funds receivable

 

18,480

 

 

 

10,917

 

Creator signing fees and creator advances

 

(6,327

)

 

 

44

 

Prepaid expenses and other assets

 

2,767

 

 

 

2,900

 

Accounts payable, creators

 

53,423

 

 

 

64,711

 

Accounts payable

 

(675

)

 

 

328

 

Chargebacks and refunds reserve

 

(20,461

)

 

 

(12,681

)

Accrued compensation and benefits

 

(12,016

)

 

 

4,198

 

Accrued taxes

 

(4,315

)

 

 

(7,846

)

Operating lease liabilities

 

(1,561

)

 

 

(2,563

)

Other accrued liabilities

 

(1,580

)

 

 

6,271

 

Net cash provided by operating activities

 

85,628

 

 

 

101,800

 

Cash flows from investing activities

 

 

 

Purchases of short-term investments

 

(136,808

)

 

 

(273,677

)

Maturities of short-term investments

 

269,001

 

 

 

211,000

 

Purchases of property and equipment

 

(585

)

 

 

(991

)

Capitalized internal-use software development costs

 

(6,964

)

 

 

(4,848

)

Net cash provided by (used in) investing activities

 

124,644

 

 

 

(68,516

)

Cash flows from financing activities

 

 

 

Principal repayment of debt obligations

 

(120,450

)

 

 

 

Repurchase of common stock

 

(39,296

)

 

 

 

Proceeds from exercise of stock options

 

 

 

 

930

 

Taxes paid related to net share settlement of equity awards

 

(6,837

)

 

 

(5,486

)

Proceeds from issuance of common stock under ESPP

 

454

 

 

 

567

 

Principal payments on finance lease obligations

 

 

 

 

(1

)

Net cash used in financing activities

 

(166,129

)

 

 

(3,990

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

(2,386

)

 

 

(925

)

Net increase in cash, cash equivalents and restricted cash

 

41,757

 

 

 

28,369

 

Cash, cash equivalents and restricted cash

 

 

 

Beginning of period

 

489,200

 

 

 

540,174

 

End of period

$

530,957

$

568,543

 

Reconciliation of Net Loss to Adjusted EBITDA and the Calculation of Adjusted EBITDA Margin
(in thousands; unaudited)

 
 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

Net loss (1)

$

(3,768

)

 

$

(9,935

)

 

$

(7,195

)

 

$

(25,542

)

Add:

 

 

 

 

 

 

 

Depreciation and amortization

 

3,946

 

 

 

3,226

 

 

 

11,189

 

 

 

9,934

 

Stock-based compensation

 

10,246

 

 

 

14,468

 

 

 

39,484

 

 

 

41,161

 

Interest income

 

(6,056

)

 

 

(7,569

)

 

 

(20,845

)

 

 

(19,948

)

Interest expense

 

2,084

 

 

 

2,821

 

 

 

7,690

 

 

 

8,359

 

Employer taxes related to employee equity transactions

 

97

 

 

 

273

 

 

 

889

 

 

 

832

 

Other (income) expense, net

 

(1,420

)

 

 

2,357

 

 

 

(3,892

)

 

 

3,230

 

Income tax provision

 

208

 

 

 

762

 

 

 

1,266

 

 

 

1,832

 

Adjusted EBITDA

$

5,337

 

 

$

6,403

 

 

$

28,586

 

 

$

19,858

 

 

 

 

 

 

 

 

 

Net revenue

$

77,801

 

 

$

81,544

 

 

$

248,604

 

 

$

238,370

 

Adjusted EBITDA margin

 

7

%

 

 

8

%

 

 

11

%

 

 

8

%

(1) Net loss and Adjusted EBITDA includes reduction in force costs totaling $5.4 million in the three and nine months ended September 30, 2024, and restructuring costs totaling $0.8 million and $15.1 million in the three and nine months ended September 30, 2023.

About Non-GAAP Financial Measures

We believe that the use of Adjusted EBITDA and Adjusted EBITDA margin is helpful to our investors in understanding and evaluating our results of operations and useful measures for period-to-period comparisons of our business performance as they are metrics used by management in assessing the health of our business and our operating performance, making operating decisions, and performing strategic planning and annual budgeting. These measures are not prepared in accordance with GAAP and have limitations as an analytical tool, and you should not consider them 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. Some amounts in this press release may not add due to rounding.

Adjusted EBITDA

We calculate Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization, stock-based compensation expense, interest expense, interest income, employer taxes related to employee transactions, other (income) expense net, which consists of foreign exchange rate gains and losses, and income tax provision (benefit). Adjusted EBITDA should not be considered as an alternative to net income (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 release. 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-routine items. When evaluating our performance, you should consider Adjusted EBITDA alongside other financial performance measures, including our net income (loss) and other GAAP results.

Adjusted EBITDA Margin

Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net revenue. Because of the limitations described above, you should consider Adjusted EBITDA and Adjusted EBITDA Margin alongside other financial performance measures, including net income (loss), net income (loss) margin, and our other GAAP results.

Eventbrite Investor Relations

investors@eventbrite.com

Source: Eventbrite

FAQ

What was Eventbrite's (EB) revenue in Q3 2024?

Eventbrite reported revenue of $77.8 million in Q3 2024, down 5% year-over-year but above the company's outlook range.

How many tickets did Eventbrite (EB) process in Q3 2024?

Eventbrite processed 65.0 million total tickets in Q3 2024, including 19.7 million paid tickets, across 1.4 million events.

What is Eventbrite's (EB) revenue guidance for Q4 2024?

Eventbrite expects Q4 2024 revenue to be between $74 million and $77 million, with full-year 2024 revenue projected at $322-326 million.

What was Eventbrite's (EB) net loss in Q3 2024?

Eventbrite reported a net loss of $3.8 million in Q3 2024, which includes $5.4 million from reduction in force charges.

Eventbrite, Inc.

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