EX-99.1 2 earningspressrelease-fy2024.htm EX-99.1 Document
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Eventbrite Reports Fourth Quarter 2024 Financial Results
Revenue of $76.5 million was at the upper end of the company’s outlook range
Consumer reach exceeded 87 million average monthly active users, with paid ticket volume of 21.6 million
Creator acquisition continued to improve following the reintroduction of the free tier in September

2/27/2025
SAN FRANCISCO -- (BUSINESS WIRE) -- Eventbrite (NYSE: EB), a global marketplace for shared experiences, reported its financial results for the fourth quarter ended December 31, 2024. The Fourth Quarter 2024 Shareholder Letter can be found on Eventbrite’s Investor Relations website at https://investor.eventbrite.com.
“In the fourth quarter, we delivered revenue at the upper end of our outlook range and exceeded our Adjusted EBITDA margin target for fiscal year 2024,” said Julia Hartz, Co-Founder, Chief Executive Officer, and Executive Chair. “The strategic decisions we made in 2024, including refocusing on ticketing growth, strengthening our creator offering, and enhancing the consumer experience, are delivering results. Total and free ticket volumes returned to growth in the quarter, and year-to-year comparisons in paid tickets, paid transacting creators, and paid events improved from the third quarter. With a clear roadmap for 2025 and a disciplined approach to execution, we believe we are well-positioned to drive sustained improvement, scale our marketplace, and unlock long-term value.”

Fourth Quarter 2024 Highlights
•Net Revenue of $76.5 million, down 13% year-over-year. Marketplace-related revenue from organizer fees and Eventbrite Ads was 8% of total net revenue.
•Total free and paid ticket volume of 72.0 million tickets grew 2% across 1.4 million events.
•Gross Margin of 68.2% vs 70.1% a year ago.
•Net Loss of $8.4 million and Net Loss Margin of 11.0%, compared to Net Loss of $0.9 million and Net Loss Margin of 1.1% in the same period last year.
•Adjusted EBITDA of $6.5 million and Adjusted EBITDA margin of 8.5%.1
1 For more information on these non-GAAP financial measures, please see "―About Non-GAAP Financial Measures" and the tables under "―Reconciliation of Net Loss to Adjusted EBITDA and the Calculation of Adjusted EBITDA Margin" 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 December 31,Year Ended December 31,
20242023% Change20242023% Change
Gross ticket sales$794,197 $871,510 (9)%$3,283,561 $3,274,358 — %
Net revenue$76,464 $87,764 (13)%$325,068 $326,134 — %
Gross profit$52,145 $61,499 (15)%$226,563 $223,004 2 %
Gross profit margin68 %70 %70 %68 %
Net loss$(8,376)$(937)794 %$(15,571)$(26,479)(41)%
Net loss margin(11)%(1)%(5)%(8)%
Adjusted EBITDA (non-GAAP)$6,525 $8,797 (26)%$35,111 $28,655 23 %
Adjusted EBITDA margin (non-GAAP)9 %10 %11 %9 %

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

Three Months Ended December 31,Year Ended December 31,
20242023% Change20242023% Change
Total tickets72,035 70,570 2 %269,631 301,863 (11)%
Paid tickets21,639 24,103 (10)%83,834 93,443 (10)%
Total events1,352 1,446 (7)%4,723 5,159 (8)%
Paid events517 546 (5)%1,752 1,819 (4)%
Total creators353 380 (7)%766 850 (10)%
Paid creators166 183 (9)%368 396 (7)%
Average ticket value (ATV)$36.70 $36.16 2 %$39.17 $38.10 3 %
Total ticket buyers31,477 29,319 7 %86,252 92,860 (7)%

Business Outlook
Based on current information, the company anticipates net revenue for the first quarter of 2025 will be within the range of $71 to $74 million with an Adjusted EBITDA margin percentage in the mid-single digits, excluding non-routine items.
Full year 2025 will be a transition year as the company laps the impacts of organizer fees.
Going forward, Ticketing and Ads will essentially comprise Eventbrite’s revenue. The company expects a continued recovery in ticketing trends, with paid ticket volume returning to growth in the second half of the year. Also, the company anticipates Eventbrite Ads to continue to deliver growth throughout the year.
The company expects the elimination of organizer fees to result in an approximately $20 million revenue headwind compared to 2024.
As a result of the continued recovery in ticketing revenue and the elimination of organizer fees, the company expects full year net revenue will be within a range of $295 million to $310 million. The company expects an Adjusted EBITDA margin percentage in the mid-single digits, excluding non-routine items, with the decline in year-over-year margin primarily driven by the loss of high-margin organizer fee revenue.
We have not provided an outlook for GAAP net loss or GAAP net loss margin or reconciliations of expected Adjusted EBITDA to GAAP net loss or expected Adjusted EBITDA margin to GAAP net loss margin, because GAAP net loss and GAAP net 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 Fourth Quarter 2024 Earnings Conference Call
Date: Thursday, February 27, 2025
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 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 empowers anyone to host and discover live experiences. In 2024, Eventbrite distributed 270 million tickets to over 4.7 million events across a global community of 89 million monthly average users, helping people find 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 “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.

Eventbrite Investor Relations
investors@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)
December 31,
20242023
Assets
Current assets
Cash and cash equivalents$416,531 $489,200 
Funds receivable37,629 48,773 
Short-term investments, at amortized cost24,959 153,746 
Accounts receivable, net2,187 2,814 
Creator signing fees, net3,954 634 
Creator advances, net3,380 2,804 
Restricted cash48,000 — 
Prepaid expenses and other current assets15,856 13,880 
Total current assets552,496 711,851 
Creator signing fees, noncurrent3,575 1,303 
Property and equipment, net12,640 9,384 
Operating lease right-of-use assets823 177 
Goodwill174,388 174,388 
Acquired intangible assets, net5,014 13,314 
Other assets3,365 2,913 
Total assets$752,301 $913,330 
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable, creators$300,174 $303,436 
Accounts payable, trade1,407 1,821 
Chargebacks and refunds reserve10,315 8,088 
Accrued compensation and benefits4,825 17,522 
Accrued taxes5,932 8,796 
Current portion of long-term debt29,781 — 
Operating lease liabilities2,071 1,523 
Other accrued liabilities11,868 16,425 
Total current liabilities366,373 357,611 
Accrued taxes, noncurrent4,278 4,526 
Operating lease liabilities, noncurrent377 1,768 
Long-term debt210,938 357,668 
Other liabilities106 — 
Total liabilities582,072 721,573 
Commitments and contingent liabilities (Note 10)
Stockholders’ equity
Common stock1 1 
Treasury stock at cost(50,159)— 
Additional paid-in capital1,051,392 1,007,190 
Accumulated deficit(831,005)(815,434)
Total stockholders’ equity170,229 191,757 
Total liabilities and stockholders’ equity$752,301 $913,330 


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

Three Months Ended
December 31,		Year Ended December 31,
2024202320242023
Net revenue$76,464 $87,764 $325,068 $326,134 
Cost of net revenue24,319 26,265 98,505 103,130 
Gross profit52,145 61,499 226,563 223,004 
Operating expenses:
Product development 19,956 25,203 95,283 98,294 
Sales, marketing and support22,930 20,772 92,014 74,574 
General and administrative17,076 24,588 70,059 91,269 
Total operating expenses59,962 70,563 257,356 264,137 
Loss from operations(7,817)(9,064)(30,793)(41,133)
Interest income4,398 7,547 25,243 27,495 
Interest expense(1,102)(2,826)(8,792)(11,185)
Other income (expense), net(2,962)3,565 930 335 
Loss before income taxes(7,483)(778)(13,412)(24,488)
Income tax provision893 159 2,159 1,991 
Net loss$(8,376)$(937)$(15,571)$(26,479)
Net loss per share, basic and diluted$(0.09)$(0.01)$(0.17)$(0.26)
Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted94,273 101,097 93,029 100,299 


Condensed Consolidated Statements of Cash Flows
(in thousands; unaudited)
Year Ended December 31,
20242023
Cash flows from operating activities
Net loss$(15,571)$(26,479)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization15,104 13,760 
Stock-based compensation expense49,688 55,056 
Non-cash operating lease expense617 5,137 
Amortization of debt discount and issuance costs1,837 2,088 
Gain on litigation award(3,927)— 
Loss on debt extinguishment314 — 
Unrealized (gain) loss on foreign currency exchange2,548 (2,703)
Accretion on short-term investments(3,405)(7,362)
Amortization of creator signing fees1,193 980 
Changes related to creator advances, creator signing fees, and allowance for credit losses(127)(1,340)
Provision for chargebacks and refunds27,507 12,435 
Other551 1,161 
Changes in operating assets and liabilities, net of impact of acquisitions:
Accounts receivable(1,295)(1,352)
Funds receivable10,554 (4,692)
Creator signing fees and creator advances(4,728)(1,108)
Prepaid expenses and other assets1,499 (1,894)
Accounts payable, creators1,281 (8,599)
Accounts payable, trade(395)822 
Chargebacks and refunds reserve(25,827)(17,483)
Accrued compensation and benefits(12,697)5,887 
Accrued taxes(3,676)(8,707)
Operating lease liabilities(2,106)(2,999)
Other accrued liabilities(3,366)6,410 
Net cash provided by operating activities35,573 19,018 
Cash flows from investing activities
Purchase of short-term investments(136,809)(370,160)
Maturities of short-term investments269,001 308,000 
Purchases of property and equipment(600)(1,097)
Capitalized internal-use software development costs(7,675)(6,073)
Net cash provided by (used in) investing activities123,917 (69,330)
Cash flows from financing activities
Principal repayment of debt obligations (120,450)— 
Repurchase of common stock(49,652)— 
Proceeds from exercise of stock options— 1,297
Purchases under employee stock purchase plan702 1,137 
Taxes paid related to net share settlement of equity awards(8,068)(7,342)
Net cash used in by financing activities(177,468)(4,908)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(6,691)4,246 
Net decrease in cash, cash equivalents and restricted cash(24,669)(50,974)


Cash, cash equivalents and restricted cash
Beginning of period489,200 540,174 
End of period$464,531 $489,200 
Supplemental cash flow data
Interest paid$6,096 $9,086 
Income taxes paid, net of refunds$1,726 $902 
Noncash investing and financing activities
Reduction of right of use asset due to modification or exit$— $3,917 
Operating lease right-of-use assets obtained in exchange for operating lease liabilities$1,112 $— 
Purchases of property and equipment, accrued but unpaid$— $30 


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

Three Months Ended
December 31,		Year Ended December 31,
2024202320242023
Net loss(1)
$(8,376)$(937)$(15,571)$(26,479)
Add:
Depreciation and amortization3,915 3,826 15,104 13,760 
Stock-based compensation10,204 13,895 49,688 55,056 
Interest income(4,398)(7,547)(25,243)(27,495)
Interest expense1,102 2,826 8,792 11,185 
Employer taxes related to employee equity transactions223 140 1,112 972 
Other (income) expense, net2,962 (3,565)(930)(335)
Income tax provision (benefit)893 159 2,159 1,991 
Adjusted EBITDA$6,525 $8,797 $35,111 $28,655 
Net revenue$76,464 $87,764 $325,068 $326,134 
Adjusted EBITDA margin9 %10 %11 %9 %

(1) Net loss and Adjusted EBITDA includes reduction in force costs totaling $5.6 million in the year ended December 31, 2024, and restructuring costs totaling $16.3 million in the year ended December 31, 2023.


About Non-GAAP Financial Measures
We believe that the use of Adjusted EBITDA and Adjusted EBITDA margin is helpful to investors in understanding and evaluating results of operations and useful measures for period-to-period comparisons of the company's business performance as they are metrics used by management in assessing the health of the company’s business and 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 future results will be unaffected by these expenses or any unusual or non-routine items. When evaluating performance, you should consider Adjusted EBITDA alongside other financial performance measures, including 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 other GAAP results.