Core Insights - Eventbrite (EB) reported break-even quarterly earnings per share, exceeding the Zacks Consensus Estimate of a loss of $0.05, and showing an improvement from a loss of $0.04 per share a year ago, resulting in an earnings surprise of +100.00% [1] - The company posted revenues of $71.74 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.06%, but down from $77.8 million year-over-year [2] - Eventbrite shares have declined approximately 31.9% year-to-date, contrasting with the S&P 500's gain of 15.6% [3] Earnings Outlook - The future performance of Eventbrite's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [3][4] - Current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $75.21 million, and for the current fiscal year, it is -$0.15 on revenues of $293.51 million [7] Industry Context - The Internet - Services industry, to which Eventbrite belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - In Q3, the company reported net revenue of $71.7 million, down 8% year-over-year, primarily due to lower ticketing revenue and the elimination of organizer fees, partially offset by a 38% increase in revenue from Eventbrite Ads [18][19] - Adjusted EBITDA was $8.4 million, representing a 58% year-over-year increase and an adjusted EBITDA margin of 11.7% [20] - Q3 net income was $6.4 million, a significant improvement from a net loss of $3.8 million in the previous year [20] Business Line Data and Key Metrics Changes - Paid ticket volume totaled 19.1 million, down 3% year-over-year, but showed a 400 basis points improvement from the 7% decline in Q2 [18] - Eventbrite Ads revenue grew 38% year-over-year, contributing positively to overall revenue despite the decline in ticketing revenue [18][19] Market Data and Key Metrics Changes - The company reported a nearly 4% increase in new paid creator acquisition in Q3, indicating a strengthening marketplace [8] - The average monthly users reached 92 million in Q3, with consumers and creators across 180 countries [9] Company Strategy and Development Direction - The company aims to stabilize paid ticket volumes and creator activity, with a focus on disciplined execution to support revenue growth and margin expansion in 2026 [6][10] - Strategic initiatives include enhancing creator tools, improving consumer engagement, and expanding market share globally [10][15] - The company plans to leverage AI for product innovation, focusing on premium tools for larger creators and enhancing consumer personalization [30][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about operational momentum, expecting to return to monthly year-over-year paid ticket volume growth within the first few months of 2026 [23][24] - The company anticipates net revenue for Q4 to be between $71.5 million and $74.5 million, with an adjusted EBITDA margin of 8-9% [23] Other Important Information - Operating expenses were $49.6 million, down 20% year-over-year, marking the lowest level in four years [19] - The company ended the quarter with $511 million in cash and cash equivalents, with total debt reduced to $175 million [21] Q&A Session Summary Question: How is the company thinking about the right level of investment to drive growth in 2026? - Management emphasized a disciplined approach to operating expenses while reallocating funds to areas that drive growth, balancing cost reduction with investment in growth initiatives [26][28] Question: How does the company view the impact of GenAI on product innovation? - The company plans to focus on premium tools for larger creators, using AI to enhance marketing performance and consumer engagement, and expanding globally [30][33] Question: What is the company's stance on the ticketing ecosystem amid recent industry discussions? - The company aims to democratize the ticketing industry, advocating for fair pricing and transparency while continuing to invest in creator tools and consumer-friendly practices [36][38] Question: Can you provide insights on the sequential gross margin improvement and its implications? - Management expects modest continued improvement in gross margin, driven by the increasing contribution of higher-margin Eventbrite Ads to overall revenue [40][43]

Q3 2025 Financial Performance - Paid tickets reached 19.1 million, a 3% year-over-year decrease, but an improvement from the 7.3% decline in Q2 2025[16] - Gross ticket sales totaled $748 million, down 6% year-over-year[12] - Net revenue was $71.7 million, an 8% decrease year-over-year, driven by a 5% decline in ticketing revenue[26] - Net income was $6.4 million, compared to a net loss of $3.8 million in Q3 2024, driven by a $5.8 million gain on debt extinguishment and lower operating expenses[29] - Adjusted EBITDA was $8.4 million with an Adjusted EBITDA margin of 11.7%[32] Operational Metrics - Paid creators totaled 162,000, down less than 1% year-over-year, compared to a 5% decrease in Q2 2025[19] - Average Monthly Active Users (MAUs) reached 92.3 million, flat year-over-year, but up 1.1 million from Q2 2025[22] Financial Position - Operating expenses decreased 20% year-over-year to $49.6 million, the lowest since 2021[35] - Stock-based compensation decreased 42% year-over-year to $5.9 million[38] - Debt outstanding was $175 million, down $65 million year-over-year[41] - Available liquidity was $196 million, a $52 million decrease from Q2 2025 due to a $125 million repurchase of 2026 convertible notes, partially offset by a new $60 million term loan[44] Business Outlook - The company anticipates Q4 2025 net revenue to be between $71.5 million and $74.5 million, with an Adjusted EBITDA margin of approximately 8% to 9%[46] - Fiscal year 2025 net revenue is expected to be between $290 million and $293 million, with an Adjusted EBITDA margin of approximately 8% to 9%[47]

Financial Position - As of September 30, 2025, cash and cash equivalents were $402.8 million, while restricted cash amounted to $107.9 million, totaling $510.7 million[50]. - The company reported funds receivable of $16.3 million as of September 30, 2025, down from $34.2 million as of December 31, 2024[53]. - Accounts receivable, net, was $772,000 as of September 30, 2025, compared to $2.2 million as of December 31, 2024[54]. - The balance of creator signing fees, net, was $7.1 million as of September 30, 2025, reflecting an increase from $5.2 million at the beginning of the period[56]. - As of September 30, 2025, the balance of creator advances was $6,832 thousand, an increase from $6,157 thousand as of December 31, 2024[58]. - The outstanding advance payouts as of September 30, 2025, were $118.3 million, up from $101.2 million as of December 31, 2024[60]. - The chargebacks and refunds reserve remained stable at $10.3 million as of September 30, 2025, consistent with the amount as of December 31, 2024[62]. - The net property and equipment value decreased to $9,489 thousand as of September 30, 2025, from $12,640 thousand as of December 31, 2024[64]. - The carrying amount of goodwill was $174.4 million as of September 30, 2025, unchanged from December 31, 2024[68]. - The total operating lease liabilities as of September 30, 2025, were $964 thousand after accounting for imputed interest[67]. - As of September 30, 2025, the Company's total outstanding long-term debt was $174.861 million, down from $240.719 million as of December 31, 2024, representing a decrease of approximately 27.4%[15]. Revenue Recognition - The company recognized ticketing revenue when tickets are sold, which includes a flat fee and a fixed percentage-based fee per ticket[39]. - The company’s advertising revenue is recognized as advertising impressions are displayed to consumers[44]. - The company operates as a single operating segment, generating revenue primarily from service fees and payment processing fees[36]. - The Company generates revenue primarily from ticketing fees and payment processing fees, recognizing revenue when control of the promised goods or services is transferred[38]. - Total net revenue for the three months ended September 30, 2025, was $71.743 million, a decrease from $77.801 million in the same period of 2024[115]. - Revenue from the United States for the three months ended September 30, 2025, was $50.6 million, down from $56.3 million in 2024, representing a decline of approximately 10.0%[115]. Expenses and Costs - Operating lease costs for the three months ended September 30, 2025, were $150 thousand, down from $190 thousand in the same period of 2024[66]. - The total amortization of acquired intangible assets for the nine months ended September 30, 2025, was $5,014 thousand, compared to $6,296 thousand for the same period in 2024[69]. - The depreciation expense for the three months ended September 30, 2025, was $132 thousand, a decrease from $154 thousand in the same period of 2024[64]. - Stock-based compensation expense for the nine months ended September 30, 2025, totaled $23.6 million, compared to $39.484 million for the same period in 2024[109]. - For the three months ended September 30, 2025, total stock-based compensation expense was $5.9 million, compared to $10.2 million for the same period in 2024, reflecting a decrease of approximately 42.3%[109]. Debt and Financing - The Company entered into a $60 million senior secured term loan facility on August 6, 2025, with the full amount borrowed and held in escrow until certain notes are repaid[75]. - The effective interest rate for the 2026 Notes is 1.3%, while the effective interest rate for the 2025 Notes is 5.8%[82][83]. - The Company repurchased $125 million of the 2026 Notes for approximately $118.9 million, resulting in a $5.8 million gain on extinguishment in Q3 2025[87]. - The Company has contractual obligations under its Term Loan and Convertible Notes, including a maximum consolidated net total leverage ratio ranging from 3.25 to 1.00 to 2.00 to 1.00, and minimum revenue of $270 million[80]. - The fair value of the Term Loan was estimated at $62.5 million as of September 30, 2025, using a discounted cash-flow model[81]. - The Company incurred total interest expense of $3.792 million for the nine months ended September 30, 2025, compared to $7.688 million for the same period in 2024, reflecting a decrease of approximately 50.7%[15]. - The Company recorded cash interest of $1.1 million related to the 2026 Notes during the nine months ended September 30, 2025[82]. - The Company accrued a minimum estimated amount of $0.5 million related to a legal matter as of September 30, 2025, with a potential loss range between $0.5 million and $2.1 million[98]. Income and Tax - The company reported a net income of $6.369 million for the three months ended September 30, 2025, compared to a net loss of $3.768 million for the same period in 2024[111]. - The Company recorded an income tax benefit of $0.1 million for the three months ended September 30, 2025, compared to an income tax expense of $0.2 million for the same period in 2024[112]. - Basic net income per share for the three months ended September 30, 2025, was $0.07, while diluted net income per share was $0.06, compared to a loss of $0.04 per share in 2024[111]. Stock and Share Repurchase - The company has a share repurchase program authorized for up to $100 million, with approximately $50 million remaining available for future repurchases as of September 30, 2025[102]. - The balance of outstanding RSUs, RSAs, and PSUs as of September 30, 2025, was 15,492,135, with a weighted-average grant date fair value of $3.75 per share[108]. - Total unrecognized stock-based compensation expense related to stock awards was $30.6 million as of September 30, 2025, to be recognized over a weighted-average period of 1.8 years[108]. - The Company has approximately $50.0 million remaining available for future repurchases under its share repurchase program approved on March 14, 2024[102].

Financial Performance - Net revenue for Q3 2025 was $71.7 million, an 8% decline year-over-year, driven by the elimination of organizer fees[4] - Net income reached $6.4 million, a significant improvement of $10.1 million from a net loss of $3.8 million in the same period last year[4] - Adjusted EBITDA was $8.4 million with an Adjusted EBITDA margin of 11.7%, exceeding the company's guidance[4] - Net revenue for Q3 2025 was $71,743,000, a decrease of 8.3% from $77,801,000 in Q3 2024[15] - Gross profit for Q3 2025 was $48,714,000, down 8.8% from $53,258,000 in Q3 2024[15] - Total operating expenses in Q3 2025 were $49,616,000, a reduction of 20.2% compared to $62,210,000 in Q3 2024[15] - Net income for Q3 2025 was $6,369,000, compared to a net loss of $3,768,000 in Q3 2024[15] - Adjusted EBITDA for Q3 2025 was $8,416,000, an increase of 57.5% from $5,337,000 in Q3 2024[17] Revenue Outlook - For Q4 2025, the company expects net revenue between $71.5 million and $74.5 million, with an Adjusted EBITDA margin of approximately 8% to 9%[6] - The full-year revenue outlook for 2025 has been updated to a range of $290 million to $293 million, with an increased Adjusted EBITDA margin outlook of 8% to 9%[7] Operational Metrics - Paid ticket volume was 19.1 million, down 3% year-over-year, but improved by 400 basis points from the previous quarter[4] - The number of paid creators was 162,000, a decline of less than 1% year-over-year, also improving by 400 basis points from the previous quarter[4] - Eventbrite Ads revenue grew 38% year-over-year, indicating strong demand for advertising services[4] Cash Flow and Expenses - The company reported $12.6 million in lower operating expenses, contributing to the improved net income[4] - Cash flows from operating activities for the nine months ended September 30, 2025, were $78,550,000, slightly down from $80,856,000 in the same period of 2024[16] - The company reported a net cash increase of $46,146,000 for the nine months ended September 30, 2025, compared to $41,757,000 in 2024[16] - The company incurred $23,600,000 in stock-based compensation expense for the nine months ended September 30, 2025, down from $39,484,000 in 2024[16] Assets - Total assets as of September 30, 2025, were $744.6 million, a decrease from $752.3 million at the end of 2024[14] Share Information - The weighted-average number of diluted shares outstanding for Q3 2025 was 98,587,000, compared to 96,498,000 in Q3 2024[15] Adjusted EBITDA Definition - The company revised its definition of Adjusted EBITDA to include certain significant and non-recurring legal matters, aligning it with management's evaluation of core operating performance[20]

Group 1 - The article discusses a shift in consumer spending habits among younger generations, who are reportedly prioritizing experiences such as travel and concerts over material goods like clothing [1] - The current macroeconomic climate may be influencing these spending behaviors, suggesting a potential change in market dynamics [1] - Gary Alexander, an analyst with extensive experience in technology and startups, provides insights into industry trends and consumer behavior [1]

Core Insights - Eventbrite (EB) reported a quarterly loss of $0.02 per share, outperforming the Zacks Consensus Estimate of a loss of $0.08, marking a 75.00% earnings surprise [1] - The company generated revenues of $72.76 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 1.12%, but down from $84.55 million year-over-year [2] - Eventbrite has surpassed consensus EPS estimates three times over the last four quarters and topped revenue estimates four times in the same period [2] Financial Performance - The company's shares have declined approximately 26.8% since the beginning of the year, contrasting with the S&P 500's gain of 7.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.07 on revenues of $74.71 million, and for the current fiscal year, it is -$0.27 on revenues of $299.43 million [7] Market Outlook - The Zacks Industry Rank places the Internet - Services sector in the bottom 37% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - The company's Zacks Rank is currently 3 (Hold), suggesting that shares are expected to perform in line with the market in the near future [6]

Financial Data and Key Metrics Changes - Net revenue for Q2 2025 was $72.8 million, a decline of 14% year over year, but at the high end of the company's outlook range [18] - Adjusted EBITDA was $6.4 million, representing an adjusted EBITDA margin of 8.8%, significantly above expectations [22] - Gross margin improved to 67.5%, up 60 basis points from Q1, driven by strong performance in high-margin ads revenue [20] Business Line Data and Key Metrics Changes - Ticketing revenue declined by 10%, while Marketplace revenue significantly decreased due to the elimination of organizer fees [18] - Eventbrite ads grew by an impressive 50%, becoming a key growth driver for the company [18] - Paid ticket volume was $19.7 million, reflecting a 7% decline, but showed improvement with only a 1% decline year over year in July [18][19] Market Data and Key Metrics Changes - The recovery in paid creators and paid ticket volume showed significant improvement in July, with paid creators nearly flat year over year [6][7] - The company observed a faster return of small-scale creators compared to larger ones, impacting the average tickets sold per creator [19] Company Strategy and Development Direction - The company is focused on stabilizing its core ticketing business and advancing long-term strategies to enhance marketplace momentum [6][9] - New tools like Lineup for music organizers and enhanced Eventbrite ads are being developed to drive creator engagement and ticket sales [9][10] - The company is investing in consumer discovery tools and premium advertising to improve the overall user experience and drive growth [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery trajectory, citing positive trends in July and ongoing improvements in operational efficiency [6][35] - The company anticipates achieving monthly year-over-year growth in paid ticket volume by the end of the year, despite a mix shift impacting revenue outlook [29] - The outlook for Q3 is net revenue between $70 million and $73 million, with an adjusted EBITDA margin of approximately 7% [29] Other Important Information - The company secured a new $60 million term loan to strengthen its liquidity and plans to repurchase a significant portion of its convertible notes [23][24] - Operating expenses decreased by 16% year over year, marking the sixth consecutive quarter of reductions [21] Q&A Session Summary Question: What drove the acceleration in paid creators and paid ticket growth in July? - Management noted that the recovery is supported by positive behavior from creators and consumers, with paid ticket volume showing a sharp improvement [35] Question: Are there changes in the competitive landscape affecting the mix impact from creators? - Management indicated that there hasn't been a massive shift in the landscape, and Eventbrite remains well-positioned within the mid-market [39]

Q2 2025 Financial Results - Paid tickets were 197 million, a decrease of 7% year-over-year[12, 18, 19] - Gross ticket sales reached $755 million[12] - Net revenue totaled $728 million, down 14% year-over-year[14, 29, 31] - The net loss was $21 million, compared to a net income of $11 million in the prior year, but improved year-over-year excluding a one-time litigation settlement gain in Q2 2024[13, 33, 34] - Adjusted EBITDA was $64 million, with an Adjusted EBITDA margin of 88%[13, 36, 38] - Operating expenses decreased by 16% year-over-year to $554 million[40, 41] Operational Metrics - Paid creators numbered 1683K, a decrease of 5% year-over-year[15, 21, 22] - Average Monthly Active Users (MAUs) were 912 million, a decrease of 2% year-over-year[23, 25] Debt and Liquidity - Debt outstanding was $241 million, a 33% decrease year-over-year[46, 47, 114] - Available liquidity was $248 million, a $7 million increase from Q1 2025[49, 50, 114] 2025 Business Outlook - The company anticipates net revenue for Q3 2025 to be in the range of $70 million to $73 million with an Adjusted EBITDA margin of approximately 7%[52] - For fiscal year 2025, the company expects to achieve monthly year-over-year growth in paid ticket volume by the end of the year and updated the net revenue outlook range to $290 million to $296 million with an Adjusted EBITDA margin outlook of approximately 7%[53]

[Special Note Regarding Forward-Looking Statements](index=3&type=section&id=SPECIAL%20NOTE%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) This section cautions readers about forward-looking statements, which involve risks and uncertainties that may cause actual results to differ materially - This report contains forward-looking statements related to future financial or operational results, convertible notes, growth strategies, liquidity, and litigation defense, which involve substantial risks and uncertainties[10](index=10&type=chunk) - Readers are cautioned not to rely on forward-looking statements as predictions of future events, as actual outcomes may differ materially due to known and unknown risks, including those detailed in the 'Risk Factors' section[11](index=11&type=chunk) [Part I. Financial Information](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This part presents Eventbrite's unaudited condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations [Item 1. Unaudited Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section presents Eventbrite, Inc.'s unaudited condensed consolidated financial statements, including balance sheets, statements of operations, stockholders' equity, and cash flows, along with detailed notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This table provides a snapshot of Eventbrite's financial position, detailing assets, liabilities, and equity at specific dates | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :-------------------------------- | :----------------------------- | :------------------------------- | | Cash and cash equivalents | $490,504 | $416,531 | | Total current assets | $590,223 | $552,496 | | Total assets | $784,065 | $752,301 | | Total current liabilities | $390,279 | $366,373 | | Total liabilities | $606,868 | $582,072 | | Total stockholders' equity | $177,197 | $170,229 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This table outlines Eventbrite's financial performance over specific periods, including net revenue, gross profit, and net income or loss | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Net revenue | $72,758 | $84,551 | $146,591 | $170,803 | | Gross profit | $49,107 | $59,940 | $98,534 | $121,160 | | Loss from operations | $(6,340) | $(6,454) | $(16,064) | $(14,024) | | Net income (loss) | $(2,107) | $1,063 | $(8,718) | $(3,427) | | Net income (loss) per share | $(0.02) | $0.01 | $(0.09) | $(0.04) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This section details changes in Eventbrite's equity accounts, reflecting contributions, distributions, and comprehensive income over time | Metric | Balance at Dec 31, 2024 (in thousands) | Balance at Jun 30, 2025 (in thousands) | | :-------------------------- | :----------------------------------- | :----------------------------------- | | Additional Paid-In Capital | $1,051,392 | $1,067,205 | | Accumulated Deficit | $(831,005) | $(839,723) | | Total Stockholders' Equity | $170,229 | $177,197 | - Total stockholders' equity increased from **$170,229 thousand** at December 31, 2024, to **$177,197 thousand** at June 30, 2025, primarily due to stock-based compensation and issuance of common stock, offset by net loss[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This table summarizes Eventbrite's cash inflows and outflows from operating, investing, and financing activities over specific periods | Cash Flow Activity | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :------------------------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Net cash provided by operating activities | $41,896 | $36,274 | | Net cash provided by investing activities | $23,144 | $94,596 | | Net cash used in financing activities | $(2,273) | $(41,830) | | Effect of exchange rate changes | $11,206 | $(2,741) | | Net increase in cash, cash equivalents and restricted cash | $73,973 | $86,299 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and additional information supporting the unaudited condensed consolidated financial statements [Note 1. Overview and Basis of Presentation](index=10&type=section&id=Note%201.%20Overview%20and%20Basis%20of%20Presentation) Eventbrite operates a two-sided marketplace connecting event creators and consumers, with financial statements prepared under U.S. GAAP - Eventbrite operates a two-sided marketplace connecting millions of creators and consumers for live experiences, offering self-service ticketing and marketing tools[28](index=28&type=chunk) - The company revised previously issued condensed consolidated statements of cash flows for a foreign currency exchange error, which was deemed not significant to prior periods[33](index=33&type=chunk) - Eventbrite operates as a single operating segment, with the CEO reviewing consolidated financial information for resource allocation and performance evaluation[38](index=38&type=chunk) [Note 2. Revenue Recognition](index=11&type=section&id=Note%202.%20Revenue%20Recognition) Revenue is primarily derived from ticketing and payment processing fees, recognized when control of services is transferred to creators - Revenue is primarily generated from ticketing and payment processing fees, with additional revenue from advertising and marketplace services[40](index=40&type=chunk) - For EPP, Eventbrite is the principal and records revenue gross; for FPP, it records revenue net. Revenue is presented net of indirect taxes, refunds, chargebacks, and creator royalties[43](index=43&type=chunk)[44](index=44&type=chunk) - The Flex organizer plan was discontinued in September 2024, returning to a free event publishing model, while the Pro subscription plan for enhanced marketing capabilities continues[47](index=47&type=chunk) [Note 3. Cash, Cash Equivalents and Restricted Cash](index=12&type=section&id=Note%203.%20Cash,%20Cash%20Equivalents%20and%20Restricted%20Cash) This note details the composition of cash, cash equivalents, and restricted cash, including amounts held for creators and risk mitigation | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | June 30, 2024 (in thousands) | | :----------------------------------- | :----------------------------- | :------------------------------- | :--------------------------- | | Cash and cash equivalents | $490,504 | $416,531 | $575,499 | | Restricted cash | $48,000 | $48,000 | $— | | Total cash, cash equivalents and restricted cash | $538,504 | $464,531 | $575,499 | - Restricted cash of **$48.0 million** was established in 2024 to manage and mitigate potential risks related to refunds and chargebacks[50](index=50&type=chunk) [Note 4. Short-term Investments](index=12&type=section&id=Note%204.%20Short-term%20Investments) The company previously invested in short-term U.S. Treasury bills but held no short-term investments as of June 30, 2025 - As of June 30, 2025, Eventbrite does not hold any short-term investments, having previously invested in U.S. Treasury bills[51](index=51&type=chunk) [Note 5. Funds Receivable](index=13&type=section&id=Note%205.%20Funds%20Receivable) Funds receivable represents cash-in-transit from third-party payment processors, typically received within approximately five business days from the transaction date | Metric | June 30, 2025 (in millions) | December 31, 2024 (in millions) | | :--------------- | :-------------------------- | :------------------------------ | | Funds receivable | $22.7 | $34.2 | [Note 6. Accounts Receivable, Net](index=13&type=section&id=Note%206.%20Accounts%20Receivable,%20Net) Accounts receivable, net, comprises invoiced amounts to customers using third-party payment processors or advertising services, presented net of an allowance for credit losses | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :-------------------------- | :----------------------------- | :------------------------------- | | Accounts receivable, customers | $1,715 | $3,111 | | Allowance for credit losses | $(999) | $(924) | | Accounts receivable, net | $716 | $2,187 | [Note 7. Creator Signing Fees, Net](index=13&type=section&id=Note%207.%20Creator%20Signing%20Fees,%20Net) Creator signing fees are incentives paid to secure exclusive ticketing and payment processing rights, amortized on a straight-line basis over a weighted-average remaining contract life of 3.3 years as of June 30, 2025 | Metric | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :-------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Balance, beginning of period | $7,760 | $7,529 | | Creator signing fees paid | $283 | $1,966 | | Amortization of creator signing fees | $(534) | $(1,006) | | Write-offs and other adjustments | $(1,000) | $(1,980) | | Balance, end of period | $6,509 | $6,509 | - Creator signing fees, net, decreased from **$3,954 thousand** at December 31, 2024, to **$2,452 thousand** at June 30, 2025 (current portion), and from **$3,575 thousand** to **$4,057 thousand** (noncurrent portion)[57](index=57&type=chunk) [Note 8. Creator Advances, Net](index=14&type=section&id=Note%208.%20Creator%20Advances,%20Net) Creator advances are funds provided to creators in advance of events, which are subsequently recouped by withholding amounts from ticket sales. These advances are presented net of reserves | Metric | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Balance, beginning of period | $5,728 | $3,380 | | Creator advances paid | $1,806 | $4,651 | | Creator advances recouped | $(757) | $(1,221) | | Balance, end of period | $6,810 | $6,810 | [Note 9. Accounts Payable, Creators](index=14&type=section&id=Note%209.%20Accounts%20Payable,%20Creators) Accounts payable, creators, represents unremitted ticket sale proceeds, net of company service fees and taxes, generally remitted within five business days post-event. Advance payouts to qualified creators prior to events totaled $126.6 million as of June 30, 2025 | Metric | June 30, 2025 (in millions) | December 31, 2024 (in millions) | | :-------------------------- | :-------------------------- | :------------------------------ | | Advance payouts outstanding | $126.6 | $101.2 | [Note 10. Chargebacks and Refunds Reserve](index=14&type=section&id=Note%2010.%20Chargebacks%20and%20Refunds%20Reserve) The company records estimates for refunds and chargebacks of its fees as contra-revenue, and reserves for estimated advance payout losses as an operating expense. The total chargebacks and refunds reserve was $10.6 million as of June 30, 2025, including $4.7 million for advance payout losses | Metric | June 30, 2025 (in millions) | December 31, 2024 (in millions) | | :-------------------------------- | :-------------------------- | :------------------------------ | | Chargebacks and refunds reserve | $10.6 | $10.3 | | Estimated advance payout losses | $4.7 | $5.2 | [Note 11. Property and Equipment, Net](index=15&type=section&id=Note%2011.%20Property%20and%20Equipment,%20Net) Property and equipment, net, includes capitalized internal-use software development costs, furniture, computers, and leasehold improvements, less accumulated depreciation and amortization. The net value decreased to $10.4 million as of June 30, 2025, from $12.6 million at December 31, 2024 | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :------------------------------------------ | :----------------------------- | :------------------------------- | | Capitalized internal-use software development costs | $72,162 | $70,210 | | Property and equipment, net | $10,356 | $12,640 | | Expense | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :------------------------------------------ | :-------------------------------------------- | :-------------------------------------------- | | Depreciation expense | $138 | $274 | | Amortization of capitalized internal-use software development costs | $2,212 | $4,233 | [Note 12. Leases](index=15&type=section&id=Note%2012.%20Leases) The company holds operating leases primarily for office space, recognizing right-of-use assets and liabilities based on the present value of lease payments. Sublease income reduces total operating lease costs. As of June 30, 2025, the weighted-average remaining lease term was 0.8 years | Metric | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Operating lease costs | $163 | $318 | | Sublease income | $(21) | $(63) | | Total operating lease costs, net | $142 | $255 | | Maturity Period | Operating Leases (in thousands) | | :---------------------- | :------------------------------ | | The remainder of 2025 | $1,123 | | 2026 | $400 | | Total operating lease liabilities | $1,503 | [Note 13. Goodwill and Acquired Intangible Assets, Net](index=16&type=section&id=Note%2013.%20Goodwill%20and%20Acquired%20Intangible%20Assets,%20Net) This note details the carrying amounts of goodwill and acquired intangible assets, primarily customer relationships, and their amortization - The carrying amount of goodwill remained **$174.4 million** as of June 30, 2025, with no impairment recorded during the period[68](index=68&type=chunk) | Acquired Intangible Asset | June 30, 2025 Net Book Value (in thousands) | December 31, 2024 Net Book Value (in thousands) | | :------------------------ | :------------------------------------------ | :---------------------------------------------- | | Developed technology | $— | $— | | Customer relationships | $1,264 | $5,014 | | Tradenames | $— | $— | | Total acquired intangible assets, net | $1,264 | $5,014 | | Amortization Expense | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :-------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Cost of net revenue | $— | $— | | Sales, marketing and support | $1,885 | $3,750 | | Total amortization | $1,885 | $3,750 | [Note 14. Fair Value Measurement](index=16&type=section&id=Note%2014.%20Fair%20Value%20Measurement) The company measures financial assets and liabilities at fair value using a hierarchy of observable and unobservable inputs - The company uses a fair value hierarchy (Level 1, 2, 3) to measure financial assets and liabilities, maximizing observable inputs[70](index=70&type=chunk) - Most financial assets and liabilities approximate their fair value and are classified as Level 1, except for the 2026 and 2025 Convertible Notes, which are Level 2 instruments[72](index=72&type=chunk) [Note 15. Long-Term Debt](index=17&type=section&id=Note%2015.%20Long-Term%20Debt) Long-term debt consists of 2026 and 2025 Convertible Notes, with details on repurchases and interest expense | Debt Instrument | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :---------------- | :----------------------------- | :------------------------------- | | 2026 Notes | $211,455 | $210,938 | | 2025 Notes | $29,895 | $29,781 | | Total long-term debt | $241,350 | $240,719 | | Interest Expense Type | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :-------------------- | :-------------------------------------------- | :-------------------------------------------- | | Cash interest expense | $774 | $1,544 | | Amortization of debt issuance costs | $320 | $631 | | Total interest expense | $1,094 | $2,175 | - The company repurchased **$120 million** aggregate principal amount of 2025 Notes in August 2024 for **$120.5 million** cash, resulting in a **$0.3 million** loss on extinguishment[77](index=77&type=chunk)[78](index=78&type=chunk) [Note 16. Commitments and Contingencies](index=18&type=section&id=Note%2016.%20Commitments%20and%20Contingencies) Principal commitments include Convertible Notes, operating leases, purchase commitments, and details on contract litigation and tax reserves - The company entered into purchase commitments totaling approximately **$7.7 million** over the next three years, primarily for business technology software[81](index=81&type=chunk) - In contract litigation in Brazil, a judge ruled against the company, awarding **BRL3.8 million** for breach of contract, **BRL0.5 million** for moral damages, and lost profits. The company plans to appeal[86](index=86&type=chunk) | Contingency | June 30, 2025 (in millions) | December 31, 2024 (in millions) | | :------------------------ | :-------------------------- | :------------------------------ | | Contract litigation accrual | $0.5 | N/A | | Indirect tax reserves | $0.4 | $0.5 | [Note 17. Stockholders' Equity](index=19&type=section&id=Note%2017.%20Stockholders'%20Equity) This note details changes in stockholders' equity, including share repurchase programs, stock option activity, and stock award activity - A share repurchase program authorized up to **$100.0 million** of Class A common stock, with approximately **$50.0 million** remaining available as of June 30, 2025. No shares were repurchased in the first six months of 2025[91](index=91&type=chunk) | Stock Option Activity | June 30, 2025 | | :-------------------- | :------------ | | Outstanding options | 9,685,584 | | Weighted average exercise price | $12.11 | | Weighted average remaining contractual term (years) | 3.1 | | Vested and exercisable | 9,380,124 | | Stock Award Activity | June 30, 2025 | | :------------------- | :------------ | | Outstanding RSUs, RSAs and PSUs | 16,777,330 | | Weighted-average grant date fair value per share | $3.96 | | Weighted average remaining contractual term (years) | 1.4 | | Total unrecognized stock-based compensation expense | $39.7 million | | Expense Category | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :------------------------ | :-------------------------------------------- | :-------------------------------------------- | | Cost of net revenue | $82 | $167 | | Product development | $3,121 | $7,439 | | Sales, marketing and support | $1,013 | $2,742 | | General and administrative | $3,326 | $7,355 | | Total stock-based compensation expense | $7,542 | $17,703 | [Note 18. Net Income (Loss) Per Share](index=21&type=section&id=Note%2018.%20Net%20Income%20(Loss)%20Per%20Share) Basic and diluted net income (loss) per share calculations are provided. Potentially dilutive securities, including shares related to Convertible Notes, stock options, RSUs, and ESPP, were excluded from diluted EPS computation due to their anti-dilutive effect | Metric | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :------------------------------------------------- | :------------------------------- | :----------------------------- | | Net income (loss) | $(2,107) | $(8,718) | | Weighted-average shares used in computing EPS, basic | 96,114 | 95,442 | | Weighted-average shares used in computing EPS, diluted | 96,114 | 95,442 | | Net income (loss) per share, basic and diluted | $(0.02) | $(0.09) | | Potentially Dilutive Securities | June 30, 2025 (in thousands) | June 30, 2024 (in thousands) | | :------------------------------ | :--------------------------- | :--------------------------- | | Shares related to 2025 and 2026 Notes | 10,011 | 19,538 | | Stock options | 9,686 | 11,639 | | Restricted stock units | 16,378 | 15,557 | | ESPP | 83 | 182 | | Total | 36,158 | 46,916 | [Note 19. Income Taxes](index=21&type=section&id=Note%2019.%20Income%20Taxes) Income tax expense increased for the three and six months ended June 30, 2025, primarily due to non-routine tax expenses in the prior year and changes in the mix of taxable earnings. The company is evaluating the impact of the recently enacted One Big Beautiful Bill Act (OBBBA) on its financial statements | Metric | Three Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | | :------------------ | :-------------------------------------------- | :-------------------------------------------- | | Income tax expense | $845 | $1,613 | - The increase in income tax expense is primarily attributed to non-routine tax expenses in the prior year and changes in the mix of taxable earnings[100](index=100&type=chunk) - The company is currently evaluating the impact of the One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, which provides for significant U.S. tax law changes[102](index=102&type=chunk) [Note 20. Geographic Information](index=22&type=section&id=Note%2020.%20Geographic%20Information) Total net revenue decreased across all reported geographies (United States, United Kingdom, and International) for both the three and six months ended June 30, 2025, compared to the same periods in 2024 | Geography | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :---------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | United States | $51,874 | $61,814 | $106,493 | $125,096 | | United Kingdom | $7,761 | $8,120 | $14,961 | $16,437 | | International | $13,123 | $14,617 | $25,137 | $29,270 | | Total net revenue | $72,758 | $84,551 | $146,591 | $170,803 | [Note 21. Related Party Transaction](index=22&type=section&id=Note%2021.%20Related%20Party%20Transaction) Eventbrite entered into agreements with Decagon AI, Inc. and RegCheck, Inc. d/b/a Andera.ai for customer support and audit AI platforms, respectively. Both companies have minority stakes held by funds managed by A-Star Partners, LLC, where Kevin Hartz (co-founder and former CEO) is a managing member - On May 19, 2025, Eventbrite agreed to a one-year term with Decagon AI, Inc. for a **$0.3 million** fee for customer support AI[105](index=105&type=chunk) - On May 30, 2025, Eventbrite entered a three-year agreement with RegCheck, Inc. d/b/a Andera.ai for audit AI, with payments of approximately **$0.3 million** per year[106](index=106&type=chunk) - Both Decagon AI and Andera.ai have minority stakes held by funds managed by A-Star Partners, LLC, a venture capital firm where Kevin Hartz (co-founder, former CEO, and spouse of current CEO Julia Hartz) is a managing member[105](index=105&type=chunk)[106](index=106&type=chunk) [Note 22. Subsequent Events](index=22&type=section&id=Note%2022.%20Subsequent%20Events) Subsequent to June 30, 2025, Eventbrite renewed a $55.0 million site hosting commitment over five years. It also entered into a new four-year, $60.0 million senior secured term loan facility and agreed to repurchase $125.0 million aggregate principal amount of 2026 Notes for approximately $117.9 million - On July 28, 2025, the company renewed a non-cancellable purchase commitment for site hosting services totaling **$55.0 million** over a five-year period[108](index=108&type=chunk) - On August 6, 2025, Eventbrite entered into a new four-year, **$60.0 million** senior secured term loan facility, with proceeds escrowed until certain 2025 and 2026 Notes are repaid or repurchased[109](index=109&type=chunk) - On August 6, 2025, the company agreed to repurchase **$125.0 million** aggregate principal amount of 2026 Notes for approximately **$117.9 million** cash, expected to settle around August 11, 2025[110](index=110&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on Eventbrite's financial condition and results of operations for the periods presented. It covers key business metrics, non-GAAP financial measures like Adjusted EBITDA, and a detailed analysis of revenue, cost of revenue, operating expenses, and other financial items, concluding with a discussion on liquidity and capital resources [Overview](index=24&type=section&id=Overview) Eventbrite's mission is to connect creators and consumers through live experiences via its two-sided marketplace - Eventbrite's mission is to connect creators and consumers through live experiences via its two-sided marketplace, offering self-service ticketing and marketing tools[113](index=113&type=chunk) [Key Business Metrics and Non-GAAP Financial Measures](index=24&type=section&id=Key%20Business%20Metrics%20and%20Non-GAAP%20Financial%20Measures) This section presents key operational metrics like paid ticket volume and non-GAAP financial measures such as Adjusted EBITDA | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :--------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Paid ticket volume | 19,684 | 21,243 | 39,270 | 42,459 | - Paid ticket volume decreased by **7.3%** for the three months ended June 30, 2025, and by **7.5%** for the six months ended June 30, 2025, compared to the same periods in 2024[115](index=115&type=chunk) - The definition of Adjusted EBITDA was updated to include certain significant and non-recurring legal matters, net of insurance recoveries, applied prospectively from Q2 2025[118](index=118&type=chunk) | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :---------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Net income (loss) | $(2,107) | $1,063 | $(8,718) | $(3,427) | | Adjusted EBITDA | $6,431 | $12,836 | $11,004 | $23,249 | [Results of Operations](index=26&type=section&id=Results%20of%20Operations) This section provides a detailed analysis of Eventbrite's financial performance, including net revenue, cost of revenue, and operating expenses | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Net revenue | $72,758 | $84,551 | $146,591 | $170,803 | | Cost of net revenue | $23,651 | $24,611 | $48,057 | $49,643 | | Gross profit | $49,107 | $59,940 | $98,534 | $121,160 | | Total operating expenses | $55,447 | $66,394 | $114,598 | $135,184 | | Loss from operations | $(6,340) | $(6,454) | $(16,064) | $(14,024) | | Net income (loss) | $(2,107) | $1,063 | $(8,718) | $(3,427) | | Metric | Three Months Ended June 30, 2025 (%) | Three Months Ended June 30, 2024 (%) | Six Months Ended June 30, 2025 (%) | Six Months Ended June 30, 2024 (%) | | :-------------------------- | :----------------------------------- | :----------------------------------- | :--------------------------------- | :--------------------------------- | | Net revenue | 100 % | 100 % | 100 % | 100 % | | Cost of net revenue | 33 % | 29 % | 33 % | 29 % | | Gross profit | 67 % | 71 % | 67 % | 71 % | | Total operating expenses | 76 % | 79 % | 78 % | 79 % | | Loss from operations | (9)% | (8)% | (11)% | (8)% | | Net income (loss) | (3)% | 1 % | (6)% | (2)% | [Net Revenue](index=27&type=section&id=Net%20Revenue) Net revenue decreased by 14% for both the three and six months ended June 30, 2025, compared to the same periods in 2024. This decline was primarily driven by a lower paid ticket volume and a reduction in revenue from organizer fees due to changes effective September 2024 | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :--------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Total net revenue | $72,758 | $84,551 | $(11,793) | (14)% | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :--------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Total net revenue | $146,591 | $170,803 | $(24,212) | (14)% | - The decrease in net revenue was primarily due to lower paid ticket volume and a reduction in revenue from organizer fees, reflecting changes effective September 2024[124](index=124&type=chunk) [Cost of Net Revenue](index=27&type=section&id=Cost%20of%20Net%20Revenue) Cost of net revenue decreased by 4% for the three months and 3% for the six months ended June 30, 2025, primarily due to reduced processing fees and lower personnel costs. However, gross margin decreased from 71% to 67% due to changes in organizer fees, including the discontinuation of higher-margin fees | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Cost of net revenue | $23,651 | $24,611 | $(960) | (4)% | | Percentage of total net revenue | 33 % | 29 % | | | | Gross margin | 67 % | 71 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Cost of net revenue | $48,057 | $49,643 | $(1,586) | (3)% | | Percentage of total net revenue | 33 % | 29 % | | | | Gross margin | 67 % | 71 % | | | - Gross margin decreased primarily due to changes to organizer fees in September 2024, including the discontinuation of higher-margin organizer fees[128](index=128&type=chunk) [Operating Expenses](index=27&type=section&id=Operating%20Expenses) Operating expenses, primarily personnel-related, decreased overall for the three and six months ended June 30, 2025, compared to 2024. This was driven by reduced product development and sales, marketing, and support costs, partially offset by an increase in general and administrative expenses in the three-month period [Product development](index=28&type=section&id=Product%20development) Product development expenses decreased by 30% for the three months and 26% for the six months ended June 30, 2025 | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Product development | $18,161 | $26,057 | $(7,896) | (30)% | | Percentage of total net revenue | 25 % | 31 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Product development | $39,098 | $52,741 | $(13,643) | (26)% | | Percentage of total net revenue | 27 % | 31 % | | | - Product development expenses decreased primarily due to reduced personnel costs, including stock-based compensation[131](index=131&type=chunk) [Sales, marketing and support](index=28&type=section&id=Sales,%20marketing%20and%20support) Sales, marketing and support expenses decreased by 17% for the three months and 8% for the six months ended June 30, 2025 | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Sales, marketing and support | $20,399 | $24,521 | $(4,122) | (17)% | | Percentage of total net revenue | 28 % | 29 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Sales, marketing and support | $41,922 | $45,390 | $(3,468) | (8)% | | Percentage of total net revenue | 29 % | 27 % | | | - Sales, marketing and support expenses decreased primarily due to a **$3.2 million** decrease in chargeback reserves and a **$1.7 million** decrease in advanced payouts reserve compared to the prior year[133](index=133&type=chunk) [General and administrative](index=28&type=section&id=General%20and%20administrative) General and administrative expenses increased in the three-month period but decreased in the six-month period | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | General and administrative | $16,887 | $15,816 | $1,071 | 7 % | | Percentage of total net revenue | 23 % | 19 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | General and administrative | $33,578 | $37,053 | $(3,475) | (9)% | | Percentage of total net revenue | 23 % | 22 % | | | - General and administrative expenses increased in the three-month period due to a **$4.4 million** creator upfront reserve release in the prior year, offset by a **$3.6 million** decrease in personnel costs[135](index=135&type=chunk) - General and administrative expenses decreased in the six-month period due to a **$6.3 million** decrease in personnel costs, partially offset by the **$4.4 million** creator upfront reserve release in the prior year[136](index=136&type=chunk) [Interest Income](index=29&type=section&id=Interest%20Income) Interest income decreased by 46% for the three months and 48% for the six months ended June 30, 2025, compared to the same periods in 2024. This decline was primarily due to lower interest rates and a reduced balance of short-term investments | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :--------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Interest income | $3,961 | $7,382 | $(3,421) | (46)% | | Percentage of total net revenue | 5 % | 9 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :--------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Interest income | $7,715 | $14,789 | $(7,074) | (48)% | | Percentage of total net revenue | 5 % | 9 % | | | - Interest income decreased primarily due to lower interest rates and a lower balance of short-term investments in U.S. Treasury bills[138](index=138&type=chunk) [Interest Expense](index=29&type=section&id=Interest%20Expense) Interest expense decreased significantly by 61% for both the three and six months ended June 30, 2025, compared to the same periods in 2024. This reduction was primarily due to the repurchase of $120 million aggregate principal amount of the 2025 Notes in August 2024 | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :--------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Interest expense | $1,094 | $2,806 | $(1,712) | (61)% | | Percentage of total net revenue | 2 % | 3 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :--------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Interest expense | $2,174 | $5,606 | $(3,432) | (61)% | | Percentage of total net revenue | 1 % | 3 % | | | - Interest expense decreased due to the repurchase of **$120 million** aggregate principal amount of the 2025 Notes in August 2024[140](index=140&type=chunk) [Other Income (Expense), Net](index=29&type=section&id=Other%20Income%20(Expense),%20Net) Other income (expense), net, decreased by 41% for the three months ended June 30, 2025, primarily due to a $3.9 million gain from a litigation settlement in June 2024. However, it increased by 38% for the six months ended June 30, 2025, driven by foreign currency rate measurement fluctuations | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Other income (expense), net | $2,211 | $3,725 | $(1,514) | (41)% | | Percentage of total net revenue | 3 % | 4 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :-------------------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Other income (expense), net | $3,418 | $2,472 | $946 | 38 % | | Percentage of total net revenue | 2 % | 1 % | | | - Other income decreased in the three-month period primarily due to a **$3.9 million** gain from a favorable litigation settlement in June 2024, offset by foreign currency fluctuations[142](index=142&type=chunk) - Other income increased in the six-month period driven by foreign currency rate measurement fluctuations, offset by the **$3.9 million** litigation settlement gain in the prior year[143](index=143&type=chunk) [Income Tax Provision](index=29&type=section&id=Income%20Tax%20Provision) The income tax provision increased by 8% for the three months and 52% for the six months ended June 30, 2025, compared to the same periods in 2024. This was primarily due to non-routine tax expenses recorded in the prior year and changes in the mix of taxable earnings. The company is evaluating the impact of the OBBBA on its income tax rate | Metric | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :------------------- | :-------------------------------------------- | :-------------------------------------------- | :---------------------- | :------- | | Income tax provision | $845 | $784 | $61 | 8 % | | Percentage of total net revenue | 1 % | 1 % | | | | Metric | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | $ Change (in thousands) | % Change | | :------------------- | :------------------------------------------ | :------------------------------------------ | :---------------------- | :------- | | Income tax provision | $1,613 | $1,058 | $555 | 52 % | | Percentage of total net revenue | 1 % | 1 % | | | - The increase in income tax provision was primarily attributable to non-routine tax expenses recorded in the prior year and changes in taxable earnings mix[146](index=146&type=chunk) - The company is evaluating the impact of the One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, on its income tax rate[146](index=146&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, Eventbrite had $490.5 million in cash and cash equivalents, with $322.0 million due to creators. The company believes existing cash and cash generated from operations will be sufficient for the next 12 months, but acknowledges risks related to advance payouts and macroeconomic conditions. A $100.0 million share repurchase program was approved in March 2024, with $50.0 million remaining | Metric | June 30, 2025 (in millions) | | :-------------------------- | :-------------------------- | | Cash and cash equivalents | $490.5 | | Funds receivable | $25.0 | | Restricted cash | $48.0 | | Amounts due to creators | $322.0 | - The company assumes risk with advance payouts to creators, as unrecoverable amounts could arise if events are canceled, fraudulent, or creators are insolvent, potentially impacting losses beyond current estimates[148](index=148&type=chunk) - A **$100.0 million** share repurchase program was approved in March 2024, with approximately **$50.0 million** remaining available as of June 30, 2025[150](index=150&type=chunk) - Management believes existing cash and cash generated from operations will be sufficient to meet anticipated cash needs for at least the next 12 months[152](index=152&type=chunk) [Cash Flows](index=31&type=section&id=Cash%20Flows) This section analyzes Eventbrite's cash flows from operating, investing, and financing activities, and the effect of exchange rate changes [Comparison of Six Months Ended June 30, 2025 and 2024](index=31&type=section&id=Comparison%20of%20Six%20Months%20Ended%20June%2030,%202025%20and%202024) This table compares Eventbrite's cash flow activities for the six months ended June 30, 2025, and 2024 | Cash Flow Activity | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :------------------------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Net cash provided by operating activities | $41,896 | $36,274 | | Net cash provided by investing activities | $23,144 | $94,596 | | Net cash used in financing activities | $(2,273) | $(41,830) | | Effect of exchange rate changes | $11,206 | $(2,741) | | Net increase in cash, cash equivalents and restricted cash | $73,973 | $86,299 | [Cash Flows from Operating Activities](index=31&type=section&id=Cash%20Flows%20from%20Operating%20Activities) Net cash provided by operating activities increased due to non-cash charges and favorable changes in operating assets and liabilities - Net cash provided by operating activities increased to **$41.9 million** for the six months ended June 30, 2025, from **$36.3 million** in 2024, primarily due to non-cash charges and favorable changes in operating assets and liabilities[154](index=154&type=chunk)[155](index=155&type=chunk) [Cash Flows from Investing Activities](index=31&type=section&id=Cash%20Flows%20from%20Investing%20Activities) Net cash provided by investing activities decreased mainly due to lower maturities of short-term investments and no new purchases - Net cash provided by investing activities decreased to **$23.1 million** for the six months ended June 30, 2025, from **$94.6 million** in 2024, mainly due to lower maturities of short-term investments and no new purchases[156](index=156&type=chunk) [Cash Flows from Financing Activities](index=31&type=section&id=Cash%20Flows%20from%20Financing%20Activities) Net cash used in financing activities significantly decreased due to no common stock repurchases in 2025 - Net cash used in financing activities significantly decreased to **$2.3 million** for the six months ended June 30, 2025, from **$41.8 million** in 2024, primarily due to no common stock repurchases in 2025 compared to **$36.5 million** in 2024[157](index=157&type=chunk) [Effect of exchange rate changes on cash, cash equivalents and restricted cash](index=31&type=section&id=Effect%20of%20exchange%20rate%20changes%20on%20cash,%20cash%20equivalents%20and%20restricted%20cash) Exchange rate changes resulted in an increase in cash, cash equivalents, and restricted cash due to the weakening of the U.S. dollar - Exchange rate changes resulted in an **$11.2 million** increase in cash, cash equivalents, and restricted cash for the six months ended June 30, 2025, compared to a **$2.7 million** decrease in 2024, primarily due to the weakening of the U.S. dollar in 2025[159](index=159&type=chunk) [Contractual Obligations and Commitments](index=32&type=section&id=Contractual%20Obligations%20and%20Commitments) The company's principal commitments include obligations under Convertible Notes, operating leases for office space, and non-cancellable purchase commitments - Principal commitments consist of obligations under Convertible Notes, operating leases for office space, and non-cancellable purchase commitments[160](index=160&type=chunk) [Off-Balance Sheet Arrangements](index=32&type=section&id=Off-Balance%20Sheet%20Arrangements) Eventbrite does not currently have any off-balance sheet arrangements - The company does not currently have any off-balance sheet arrangements[161](index=161&type=chunk) [Critical Accounting Policies and Estimates](index=32&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) The preparation of financial statements requires management to make estimates and assumptions that affect reported amounts. These estimates are evaluated on an ongoing basis, and no significant changes to accounting policies with a material impact were noted - The preparation of financial statements requires estimates and assumptions, which are based on historical experience and evaluated on an ongoing basis[162](index=162&type=chunk) - There have been no significant changes to the company's accounting policies that have had a material impact on the unaudited condensed consolidated financial statements[163](index=163&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Eventbrite is exposed to market risk from changes in interest rates on its financial instruments and foreign currency exchange rates due to international operations. However, a 10% change in either interest rates or individual currency exchange rates is not expected to have a material effect on the company's financial condition or results of operations - The company is exposed to interest rate sensitivity on cash, cash equivalents, and short-term investments, but a **10%** change in market interest rates would not materially affect its financial results[165](index=165&type=chunk) - Eventbrite is subject to foreign currency risk due to significant ticket sales and costs denominated in foreign currencies (British Pound, Euro, Canadian Dollar, Australian Dollar), but a **10%** change in individual currency exchange rates is not expected to have a material impact[166](index=166&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the principal executive and financial officers, concluded that Eventbrite's disclosure controls and procedures were effective as of June 30, 2025. There were no material changes in internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of June 30, 2025, providing reasonable assurance for timely and accurate reporting[168](index=168&type=chunk) - There were no changes in internal control over financial reporting during the quarter ended June 30, 2025, that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[169](index=169&type=chunk) [Part II. Other Information](index=34&type=section&id=PART%20II.%20OTHER%20INFORMATION) This part includes information on legal proceedings, risk factors, equity sales, defaults, mine safety, other information, and exhibits [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 16, 'Commitments and Contingencies,' for detailed information regarding legal proceedings - For details on legal proceedings, refer to Note 16, 'Commitments and Contingencies,' in the unaudited condensed consolidated financial statements[172](index=172&type=chunk) [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) While there have been no material changes to the risk factors previously disclosed in the 2024 Form 10-K, this report supplements with additional risks. These include the potential inability to generate sufficient cash flows or raise additional capital, and the adverse effects of substantial levels of indebtedness on cash flow and business operations - No material changes from the risk factors in the 2024 Form 10-K, but new factors supplement previously disclosed risks[173](index=173&type=chunk) - Risks include the potential inability to generate sufficient cash flows or obtain additional debt or equity financing on favorable terms, which could harm business operations[174](index=174&type=chunk)[175](index=175&type=chunk) - Substantial levels of indebtedness, including Convertible Notes and a new term loan, could adversely affect cash flow, limit operational flexibility, and increase vulnerability to adverse economic conditions[180](index=180&type=chunk)[184](index=184&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) There were no unregistered sales of equity securities or issuer purchases of equity securities during the three months ended June 30, 2025 - There were no sales of unregistered equity securities during the three months ended June 30, 2025[186](index=186&type=chunk) - There were no issuer purchases of equity securities during the three months ended June 30, 2025[187](index=187&type=chunk) [Item 3. Defaults Upon Senior Securities](index=37&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period [Item 4. Mine Safety Disclosures](index=37&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to Eventbrite, Inc [Item 5. Other Information](index=37&type=section&id=Item%205.%20Other%20Information) No director or officer 10b5-1 trading plans were adopted, terminated, or modified during the three months ended June 30, 2025. Details regarding the Credit Agreement are referenced in Note 22, 'Subsequent Events.' - No written trading arrangements under Rule 10b5-1 were adopted, terminated, or modified by directors or officers during the three months ended June 30, 2025[189](index=189&type=chunk) - Information regarding the Credit Agreement is provided in Note 22, 'Subsequent Events,' to the unaudited condensed consolidated financial statements[190](index=190&type=chunk) [Item 6. Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed or incorporated by reference as part of this Quarterly Report on Form 10-Q, including organizational documents, certifications, and XBRL data files - The exhibit index includes the Amended and Restated Certificate of Incorporation, Second Amended and Restated Bylaws, Form of Class A Common Stock Certificate, certifications of principal officers, and Inline XBRL documents[192](index=192&type=chunk) [Signatures](index=39&type=section&id=Signatures) The report is duly signed by the Chief Executive Officer and Chief Financial Officer - The report is duly signed on August 7, 2025, by Julia Hartz, Chief Executive Officer (Principal Executive Officer), and Anand Gandhi, Chief Financial Officer (Principal Accounting and Financial Officer)[197](index=197&type=chunk)