EX-99.1 2 pressrelease-q12025.htm EX-99.1 Document
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Eventbrite Reports First Quarter 2025 Financial Results
Delivers first quarter revenue of $73.8 million and Adjusted EBITDA margin of 6.2%, at the upper end of the company’s outlook range
Grew Average Monthly Active Users to nearly 88 million, with app users up 13% year-over-year
Reaffirms Fiscal Year 2025 Financial Outlook
5/8/2025
SAN FRANCISCO -- (BUSINESS WIRE) -- Eventbrite (NYSE: EB), a global marketplace for shared experiences, reported its financial results for the first quarter ended March 31, 2025. The Company’s First Quarter Investor Presentation can be found on Eventbrite’s Investor Relations website at https://investor.eventbrite.com.
“We’re off to a solid start in 2025, with first quarter results landing at the high end of our guidance,” said Julia Hartz, Co-Founder, Chief Executive Officer, and Executive Chair. “Our disciplined execution is delivering tangible results: paid tickets, paid creators, and paid events all improved for the third straight quarter. Creators are increasingly winning with high-leverage tools like Timed Entry and Eventbrite Ads, while our rebranded app is driving stronger consumer engagement. The early success we’re seeing reinforces our conviction in the path ahead—one focused on returning Eventbrite to sustainable, profitable growth.”
“We delivered on our first quarter financial outlook and are encouraged by the progress we’re making on our key strategic initiatives,” said Anand Gandhi, Chief Financial Officer. “We are seeing wins across the business due to strong execution, while maintaining firm financial discipline throughout our business operations. We believe that our continued focus on controlling operating expenses and delivering margin improvement positions us to return to growth with increased profitability.”

First Quarter 2025 Highlights
•Paid ticket volume of 19.6 million reflected our third quarter of sequential improvement in year-over-year trends.
•Net Revenue of $73.8 million, down 14% year-over-year as anticipated, largely driven by the elimination of organizer fees. Eventbrite Ads continued to grow rapidly, up 30% year-over-year.
•Net loss of $6.6 million compared to net loss of $4.5 million in the same period last year.
•Adjusted EBITDA of $4.6 million and Adjusted EBITDA margin of 6.2%, at the high end of our outlook.(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 is in the table below (in thousands, except percentages, unaudited):

Three Months Ended March 31,
20252024% Change
Paid tickets19,585 21,216 (8)%
Gross ticket sales$774,879 $853,749 (9)%
Net revenue$73,833 $86,252 (14)%
Gross profit$49,427 $61,220 (19)%
Gross profit margin67 %71 %
Net loss$(6,611)$(4,490)47 %
Net loss margin(9)%(5)%
Adjusted EBITDA (non-GAAP)$4,573 $10,413 (56)%
Adjusted EBITDA margin (non-GAAP)6 %12 %

Business Outlook
The company continues to expect fiscal year 2025 net revenue in the range of $295 million to $310 million with an Adjusted EBITDA margin in the mid-single digit percentage range, excluding non-routine items. For the second quarter 2025, the company expects net revenue to be in the range of $70 million to $73 million and Adjusted EBITDA margin in the range of 3% to 4%. The quarterly sequential trends in net revenue and Adjusted EBITDA margin are driven largely by the timing of Easter, delays of some large events into the second half of the year, and typical quarter-to-quarter mix-shift in average ticket prices.
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 First Quarter 2025 Earnings Conference Call
Date: Thursday, May 8, 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 83 million paid 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 ability to return to paid ticket growth in the second half of the year; 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 the impact of the macroeconomic and geopolitical environment, including but not limited to, tariffs, expanded trade controls, conflicts around the world, inflation and changes in interest rates, and related shifts in consumer behavior and spending, and other factors more fully described in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, 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 Sheet
(in thousands, unaudited)
March 31, 2025December 31, 2024
Assets
Current assets
          Cash and cash equivalents$502,911 $416,531 
          Funds receivable36,318 37,629 
Short-term investments, at amortized cost— 24,959 
          Accounts receivable, net1,350 2,187 
          Creator signing fees, net3,375 3,954 
          Creator advances, net5,728 3,380 
Restricted cash48,000 48,000 
          Prepaid expenses and other current assets17,688 15,856 
                    Total current assets615,370 552,496 
Creator signing fees, net, noncurrent4,385 3,575 
Property and equipment, net11,418 12,640 
Operating lease right-of-use assets797 823 
Goodwill174,388 174,388 
Acquired intangible assets, net3,149 5,014 
Other assets2,776 3,365 
                    Total assets$812,283 $752,301 
Liabilities and Stockholders’ Equity
Current liabilities
          Accounts payable, creators$352,445 $300,174 
          Accounts payable, trade907 1,407 
          Chargebacks and refunds reserve10,522 10,315 
          Accrued compensation and benefits9,547 4,825 
          Accrued taxes5,766 5,932 
Current portion of long-term debt29,837 29,781 
          Operating lease liabilities1,801 2,071 
          Other accrued liabilities12,139 11,868 
                    Total current liabilities422,964 366,373 
Accrued taxes, noncurrent4,538 4,278 
Operating lease liabilities, noncurrent226 377 
Long-term debt211,192 210,938 
Other liabilities109 106 
                    Total liabilities639,029 582,072 
Commitments and contingencies
Stockholders’ equity
Preferred stock— — 
Common stock1 1 
Treasury stock, at cost(50,286)(50,159)
Additional paid-in capital1,061,155 1,051,392 
Accumulated deficit(837,616)(831,005)
                    Total stockholders’ equity173,254 170,229 
                    Total liabilities and stockholders’ equity$812,283 $752,301 



Condensed Consolidated Statement of Operations
(in thousands, except share and per share amounts; unaudited)
Three Months Ended March 31,
20252024
Net revenue$73,833 $86,252 
Cost of net revenue24,406 25,032 
                    Gross profit49,427 61,220 
Operating expenses
          Product development 20,937 26,684 
          Sales, marketing and support21,523 20,869 
          General and administrative16,691 21,237 
                    Total operating expenses59,151 68,790 
                    Loss from operations(9,724)(7,570)
Interest income3,754 7,407 
Interest expense(1,080)(2,800)
Other income (expense), net1,207 (1,253)
                    Loss before income taxes(5,843)(4,216)
Income tax provision768 274 
Net loss$(6,611)$(4,490)
Net loss per share, basic and diluted$(0.07)$(0.05)
Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted 94,745 99,109 


Condensed Consolidated Statements of Cash Flows
(in thousands, Unaudited)
Three Months Ended March 31,
20252024
Cash flows from operating activities
Net loss$(6,611)$(4,490)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization4,022 3,594 
Stock-based compensation expense10,161 13,962 
Amortization of debt discount and issuance costs310 526 
Unrealized (gain) loss on foreign currency exchange(1,225)1,222 
Accretion on short-term investments(41)(1,877)
Non-cash operating lease expenses155 133 
Amortization of creator signing fees472 194 
Changes related to creator advances, creator signing fees, and allowance for credit losses405 423 
Provision for chargebacks and refunds5,129 5,046 
Other351 155 
Changes in operating assets and liabilities
Accounts receivable479 (899)
Funds receivable1,559 13,298 
Creator signing fees and creator advances(3,098)(3,036)
Prepaid expenses and other assets(1,242)2,142 
Accounts payable, creators50,044 54,852 
Accounts payable(500)(1,151)
Chargebacks and refunds reserve(4,932)(4,416)
Accrued compensation and benefits4,722 (8,776)
Accrued taxes(377)(2,020)
Operating lease liabilities(550)(488)
Other accrued liabilities193 159 
Net cash provided by operating activities59,426 68,553 
Cash flows from investing activities
Purchases of short-term investments— (84,113)
Maturities of short-term investments25,000 126,033 
Purchases of property and equipment(56)(316)
Capitalized internal-use software development costs(674)(2,257)
Net cash provided by investing activities24,270 39,347 
Cash flows from financing activities
Repurchase of common stock— (12,010)
Taxes paid related to net share settlement of equity awards(615)(2,612)
Net cash used in financing activities(615)(14,622)
Effect of exchange rate changes on cash, cash equivalents and restricted cash3,299 (2,538)
Net increase in cash, cash equivalents and restricted cash86,380 90,740 
Cash, cash equivalents and restricted cash
Beginning of period464,531 489,200 
End of period$550,911 $579,940 



Reconciliation of Net Income (Loss) to Adjusted EBITDA and the Calculation of Adjusted EBITDA Margin
(in thousands; unaudited)
Three Months Ended March 31,
20252024
Net loss (1)
$(6,611)$(4,490)
Add:
Depreciation and amortization4,022 3,594 
Stock-based compensation10,161 13,962 
Interest income(3,754)(7,407)
Interest expense1,080 2,800 
Employer taxes related to employee equity transactions114 427 
Other (income) expense, net(1,207)1,253 
Income tax provision768 274 
Adjusted EBITDA$4,573 $10,413 
Net revenue$73,833 $86,252 
Adjusted EBITDA margin6 %12 %

(1) Net Loss and Adjusted EBITDA includes restructuring and other costs totaling $0.1 million in the first quarter of 2024.



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 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 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 loss, net loss margin, and other GAAP results.