Eventbrite Stock Price, News & Analysis

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.

Eventbrite (NYSE: EB), a global marketplace for shared experiences, has published its 2023 Corporate Responsibility Update. The report highlights the company's commitment to diversity, inclusion, climate change, and other ESG initiatives.

Key points include:

- Eventbrite awarded five $20,000 grants to emerging creators and supported over 30,000 nonprofits.

- The company achieved carbon neutrality for 2023.

- Eventbrite maintains a remote-first workforce, connecting 850 employees globally.

- As of June 11, 2024, Eventbrite reached gender parity in its C-suite and 45% of its workforce identified as female, while 40% of U.S. employees identified as BIPOC.

- Seven out of eight board members are female, and over one-third are BIPOC.

Eventbrite continues to seek feedback from stakeholders to improve its ESG initiatives.

Eventbrite has launched a new report, 'Niche to Meet You™,' revealing a shift from online to offline dating among Gen Z and Millennials. The report indicates a significant rise in speed dating and singles events, with over 1.5 million searches for such events on Eventbrite's platform. Safety and the desire for genuine connections are the main reasons for this shift, with 45% of Gen Z and 35% of Millennials citing shared interests as a key dating challenge. The report highlights that young singles prefer meeting in coffee shops, bookstores, and hobby-based events over traditional bars and parties. Approximately 82% of singles prefer first dates involving activities they both enjoy, with a budget of under $50. Eventbrite has introduced a dedicated page for singles to find events and teamed up with We Met IRL to launch a free summer event series in NYC starting June 19th.

Eventbrite (NYSE: EB) reported its first quarter 2024 financial results with revenue of $86.3 million, growing 11% year-over-year. Marketplace revenue from non-ticketing sources exceeded 13% of total revenue, with a consumer reach extended to over 27 million people. The company showcased strong financial performance with net revenue growth, increased ticket volume, and improved gross margin. Although there was a net loss of $4.5 million, the adjusted EBITDA stood at $10.4 million. Eventbrite is optimistic about reaccelerating growth and meeting financial goals for the year.