Eventbrite (EB) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 69.23%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced earnings of $0.01, delivering a surprise of 116.67%.Over the last four quarters, the company has surpassed co ...

[Special Note Regarding Forward-Looking Statements](index=3&type=section&id=SPECIAL%20NOTE%20REGARDING%20FORWARD%20LOOKING%20STATEMENTS) This section provides a cautionary statement regarding forward-looking information and associated risks [Part I. Financial Information](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This part presents Eventbrite's financial statements, management's discussion, and market risk disclosures [Item 1. Unaudited Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section presents Eventbrite's unaudited condensed consolidated financial statements, including balance sheets, statements of operations, stockholders' equity, and cash flows, along with detailed notes explaining significant accounting policies, restructuring activities, revenue recognition, and specific financial accounts for the periods ended September 30, 2024, and December 31, 2023 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This statement provides a snapshot of the company's assets, liabilities, and equity at specific reporting dates | Item | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :-------------------------- | :-------------------------------- | :------------------------------- | | Cash and cash equivalents | $530,957 | $489,200 | | Short-term investments | $24,665 | $153,746 | | Total current assets | $611,284 | $711,851 | | Total assets | $817,373 | $913,330 | | Accounts payable, creators | $355,074 | $303,436 | | Long-term debt | $240,395 | $357,668 | | Total liabilities | $637,535 | $721,573 | | Total stockholders' equity | $179,838 | $191,757 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This statement details the company's revenues, expenses, and net loss over specific reporting periods | Item | Three Months Ended Sep 30, 2024 (in thousands) | Three Months Ended Sep 30, 2023 (in thousands) | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :------------------------ | :----------------------------------- | :----------------------------------- | :---------------------------------- | :---------------------------------- | | Net revenue | $77,801 | $81,544 | $248,604 | $238,370 | | Gross profit | $53,258 | $55,677 | $174,418 | $161,505 | | Loss from operations | $(8,952) | $(11,564) | $(22,976) | $(32,069) | | Net loss | $(3,768) | $(9,935) | $(7,195) | $(25,542) | | Net loss per share, basic and diluted | $(0.04) | $(0.10) | $(0.08) | $(0.26) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This statement tracks changes in the company's equity, including net loss, stock repurchases, and stock-based compensation | Item | As of December 31, 2023 (in thousands) | As of September 30, 2024 (in thousands) | | :---------------------------------- | :----------------------------------- | :------------------------------------ | | Total Stockholders' Equity | $191,757 | $179,838 | | Repurchase of common stock (9M 2024)| — | $(39,428) | | Stock-based compensation (9M 2024) | — | $41,087 | | Net loss (9M 2024) | — | $(7,195) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This statement summarizes the cash inflows and outflows from operating, investing, and financing activities | Cash Flow Activity | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :---------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Net cash provided by operating activities | $85,628 | $101,800 | | Net cash provided by (used in) investing activities | $124,644 | $(68,516) | | Net cash used in financing activities | $(166,129) | $(3,990) | | Net increase in cash, cash equivalents and restricted cash | $41,757 | $28,369 | | Cash, cash equivalents and restricted cash, end of period | $530,957 | $568,543 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and disclosures for the financial statements, covering accounting policies and specific accounts [Note 1. Overview and Basis of Presentation](index=10&type=section&id=Note%201.%20Overview%20and%20Basis%20of%20Presentation) This note describes Eventbrite's business model, operating segment, and confirms no material changes to accounting policies - Eventbrite operates a two-sided marketplace connecting millions of creators and consumers for live experiences, offering highly-scalable self-service ticketing and marketing tools[20](index=20&type=chunk) - The Company operates as a single operating segment, with its CEO reviewing financial information on a consolidated basis[27](index=27&type=chunk) - There have been no material changes to the Company's significant accounting policies described in the 2023 Form 10-K[24](index=24&type=chunk) [Note 2. Restructuring](index=11&type=section&id=Note%202.%20Restructuring) This note details the workforce reduction in August 2024 and the completion of the 2023 restructuring plan - In August 2024, Eventbrite approved a reduction in force, terminating approximately **11% of its workforce (100 employees)** to reduce operating costs, incurring **$5.4 million in related costs**[28](index=28&type=chunk) | Category | Three Months Ended Sep 30, 2024 (in thousands) | | :------------------------- | :--------------------------------------------- | | Product development | $3,424 | | Sales, marketing and support | $535 | | General and administrative | $1,458 | | **Total** | **$5,417** | - The 2023 restructuring plan, initiated in February 2023 to reduce operating costs and consolidate talent, was substantially completed as of September 30, 2024[31](index=31&type=chunk) [Note 3. Revenue Recognition](index=12&type=section&id=Note%203.%20Revenue%20Recognition) This note explains the sources of revenue, changes in organizer fee plans, and revenue presentation adjustments - Revenue is primarily derived from ticketing fees and payment processing fees, with additional revenue from organizer fees and advertising services[35](index=35&type=chunk) - In the third quarter of 2024, the Company discontinued the Flex plan for organizer fees, returning to a model that enables creators to publish events at no cost, while the Pro plan (subscription for enhanced marketing) remains[43](index=43&type=chunk) - Revenue is presented net of indirect taxes, customer refunds, payment chargebacks, estimated uncollectible amounts, creator royalties, and amortization of creator signing fees[39](index=39&type=chunk) [Note 4. Cash, Cash Equivalents and Restricted Cash](index=13&type=section&id=Note%204.%20Cash,%20Cash%20Equivalents%20and%20Restricted%20Cash) This note provides a breakdown of cash balances, including ticket sales proceeds held for creators - Cash and cash equivalents include **$327.6 million** in ticket sales proceeds held on behalf of creators as of September 30, 2024, up from **$259.2 million** at December 31, 2023[45](index=45&type=chunk) | Item | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | September 30, 2023 (in thousands) | | :----------------------------------------- | :-------------------------------- | :------------------------------- | :------------------------------- | | Cash and cash equivalents | $530,957 | $489,200 | $567,646 | | Restricted cash | — | — | $897 | | **Total cash, cash equivalents and restricted cash** | **$530,957** | **$489,200** | **$568,543** | [Note 5. Short-term Investments](index=13&type=section&id=Note%205.%20Short-term%20Investments) This note describes the composition and accounting treatment of the company's short-term investments - Short-term investments consist of U.S. Treasury bills with original maturities less than one year, classified as held-to-maturity and recorded at amortized cost[48](index=48&type=chunk) | Description | Amortized Cost (in thousands) | Aggregate Fair Value (in thousands) | | :------------------------- | :---------------------------- | :---------------------------------- | | US Treasury securities | $24,665 | $24,675 | [Note 6. Funds Receivable](index=14&type=section&id=Note%206.%20Funds%20Receivable) This note explains funds receivable as cash-in-transit from payment processors, including creator proceeds - Funds receivable represents cash-in-transit from third-party payment processors, typically received within approximately five business days[52](index=52&type=chunk) - The balance of funds receivable, including ticket sales proceeds for creators, was **$27.5 million** as of September 30, 2024, a decrease from **$44.2 million** at December 31, 2023[52](index=52&type=chunk) [Note 7. Accounts Receivable, Net](index=14&type=section&id=Note%207.%20Accounts%20Receivable,%20Net) This note details accounts receivable from customers and the allowance for credit losses - Accounts receivable, net, is comprised of invoiced amounts to customers who use third-party facilitated payment processors or advertising services[53](index=53&type=chunk) | Item | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :------------------------ | :-------------------------------- | :------------------------------- | | Accounts receivable, customers | $4,144 | $3,524 | | Allowance for credit losses | $(920) | $(710) | | **Accounts receivable, net** | **$3,224** | **$2,814** | [Note 8. Creator Signing Fees, Net](index=14&type=section&id=Note%208.%20Creator%20Signing%20Fees,%20Net) This note explains the accounting for incentives paid to creators and their amortization as a revenue reduction - Creator signing fees are incentives paid to secure exclusive ticketing and payment processing rights, with amortization recorded as a reduction of revenue[55](index=55&type=chunk) - As of September 30, 2024, the balance of creator signing fees, net, was **$8.3 million**, amortized over a weighted-average remaining contract life of **4.0 years**[56](index=56&type=chunk)[59](index=59&type=chunk) - Write-offs and other adjustments for the nine months ended September 30, 2024, include a reserve release reflecting losses recovered from a litigation settlement in June 2024[56](index=56&type=chunk) [Note 9. Creator Advances, Net](index=15&type=section&id=Note%209.%20Creator%20Advances,%20Net) This note outlines the process and balances of funds provided to creators in advance of events - Creator advances provide funds to creators in advance of events, which are subsequently recovered by withholding amounts from ticket sales[60](index=60&type=chunk) | Item | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :------------------------ | :-------------------------------------------- | :-------------------------------------------- | | Balance, beginning of period | $2,804 | $721 | | Creator advances paid | $4,502 | $822 | | Creator advances recouped | $(2,222) | $(528) | | **Balance, end of period** | **$6,157** | **$1,664** | [Note 10. Accounts Payable, Creators](index=15&type=section&id=Note%2010.%20Accounts%20Payable,%20Creators) This note details unremitted ticket sale proceeds owed to creators and outstanding advance payouts - Accounts payable, creators, consists of unremitted ticket sale proceeds, net of Eventbrite service fees, remitted to creators within five business days post-event[62](index=62&type=chunk) - Advance payouts outstanding to qualified creators prior to events were **$131.5 million** as of September 30, 2024, an increase from **$115.3 million** at December 31, 2023[63](index=63&type=chunk) [Note 11. Chargebacks and Refunds Reserve](index=15&type=section&id=Note%2011.%20Chargebacks%20and%20Refunds%20Reserve) This note explains the company's reserves for estimated refunds, chargebacks, and advance payout losses - The Company records estimates for refunds and chargebacks as contra-revenue and reserves for estimated advance payout losses as an operating expense[64](index=64&type=chunk) - The chargebacks and refunds reserve was **$9.1 million** as of September 30, 2024, primarily including **$5.9 million** for estimated advance payout losses[65](index=65&type=chunk) - Actual losses could materially differ from current estimates, especially concerning advance payouts, due to factors like event cancellations, fraud, or creator insolvency[66](index=66&type=chunk)[67](index=67&type=chunk) [Note 12. Property and Equipment, Net](index=16&type=section&id=Note%2012.%20Property%20and%20Equipment,%20Net) This note provides details on capitalized internal-use software development costs and other property and equipment | Item | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :------------------------------------------ | :-------------------------------- | :------------------------------- | | Capitalized internal-use software development costs | $71,182 | $62,615 | | Property and equipment, net | $13,549 | $9,384 | | Item | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :------------------------------------------ | :-------------------------------------------- | :-------------------------------------------- | | Amortization of capitalized internal-use software development costs | $4,344 | $2,493 | [Note 13. Leases](index=16&type=section&id=Note%2013.%20Leases) This note outlines the company's operating lease obligations, primarily for office space - The Company has operating leases primarily for office space, with right-of-use assets and liabilities recognized based on the present value of lease payments[70](index=70&type=chunk) - As of September 30, 2024, operating leases had a weighted-average remaining lease term of **1.5 years** and a weighted-average discount rate of **4.6%**[72](index=72&type=chunk) | Item | Operating Leases (in thousands) | | :---------------------------------- | :------------------------------ | | The remainder of 2024 | $547 | | 2025 | $2,142 | | 2026 | $372 | | Total future operating lease payments | $3,061 | | Less: Imputed interest | $(95) | | **Total operating lease liabilities** | **$2,966** | [Note 14. Goodwill and Acquired Intangible Assets, Net](index=17&type=section&id=Note%2014.%20Goodwill%20and%20Acquired%20Intangible%20Assets,%20Net) This note details the balances and amortization of goodwill and acquired intangible assets - Goodwill remained at **$174.4 million** as of September 30, 2024, with no impairment recorded during the three or nine months ended September 30, 2024 and 2023[75](index=75&type=chunk) | Item | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :------------------------ | :-------------------------------- | :------------------------------- | | Developed technology | $97 | $717 | | Customer relationships | $6,920 | $12,597 | | Tradenames | — | — | | **Acquired intangible assets, net** | **$7,017** | **$13,314** | | Category | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Cost of net revenue | $619 | $617 | | Sales, marketing and support | $5,677 | $5,862 | | **Total amortization of acquired intangible assets** | **$6,296** | **$6,479** | [Note 15. Fair Value Measurement](index=17&type=section&id=Note%2015.%20Fair%20Value%20Measurement) This note classifies financial assets and liabilities based on fair value hierarchy levels - Most financial assets and liabilities are classified as Level 1, except for the 2026 Notes and 2025 Notes (Convertible Notes), which are classified as Level 2 instruments[81](index=81&type=chunk) [Note 16. Debt](index=18&type=section&id=Note%2016.%20Debt) This note details the company's convertible senior notes and recent repurchase activities - The Company has **0.750% convertible senior notes due 2026 ($212.75 million principal)** and **5.000% convertible senior notes due 2025 ($30.0 million principal outstanding** as of September 30, 2024)[82](index=82&type=chunk)[84](index=84&type=chunk) - In August 2024, the Company repurchased **$120 million** aggregate principal amount of the 2025 Notes for **$120.5 million cash**, resulting in a **$0.3 million loss** on extinguishment[89](index=89&type=chunk) | Item | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :---------------------------------- | :-------------------------------- | :------------------------------- | | 2026 Notes | $210,670 | $209,886 | | 2025 Notes | $29,725 | $147,782 | | **Carrying amount, long-term debt** | **$240,395** | **$357,668** | [Note 17. Commitments and Contingencies](index=19&type=section&id=Note%2017.%20Commitments%20and%20Contingencies) This note outlines the company's contractual obligations, litigation settlements, and tax reserves - The Company's principal commitments consist of obligations under the Convertible Notes (principal and coupon interest) and operating leases for office space[92](index=92&type=chunk) - In June 2024, Eventbrite received an **$8.3 million settlement** from commercial contract litigation, recognizing a **$4.4 million loss recovery** to general and administrative expenses and a **$3.9 million gain** to other income[98](index=98&type=chunk) - The Company has established a reserve of **$0.5 million** for potential settlement of indirect tax matters as of September 30, 2024[99](index=99&type=chunk) [Note 18. Stockholders' Equity](index=20&type=section&id=Note%2018.%20Stockholders'%20Equity) This note details the share repurchase program and available shares for grant under equity plans - The board approved a **$100.0 million share repurchase program** in March 2024; **$39.4 million** was used to repurchase **7,243,283 shares** by September 30, 2024, with **$60.6 million** remaining[102](index=102&type=chunk) - As of September 30, 2024, **7,770,415 shares** of Class A common stock were available for grant under the 2018 Plan[106](index=106&type=chunk) | Category | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Cost of net revenue | $430 | $637 | | Product development | $17,766 | $15,143 | | Sales, marketing and support | $5,768 | $7,037 | | General and administrative | $15,520 | $18,344 | | **Total** | **$39,484** | **$41,161** | [Note 19. Net Loss Per Share](index=22&type=section&id=Note%2019.%20Net%20Loss%20Per%20Share) This note presents the calculation of basic and diluted net loss per share, excluding anti-dilutive securities | Item | Nine Months Ended Sep 30, 2024 (in thousands, except per share data) | Nine Months Ended Sep 30, 2023 (in thousands, except per share data) | | :------------------------ | :----------------------------------------------------------------- | :----------------------------------------------------------------- | | Net loss | $(7,195) | $(25,542) | | Weighted-average shares outstanding | 95,571 | 100,030 | | **Net loss per share, basic and diluted** | **$(0.08)** | **$(0.26)** | - Potentially dilutive securities, including Convertible Notes, stock options, RSUs, and ESPP, were excluded from diluted EPS calculation due to their anti-dilutive effect, totaling **34,703 thousand shares** in 2024[113](index=113&type=chunk) [Note 20. Income Taxes](index=22&type=section&id=Note%2020.%20Income%20Taxes) This note explains the income tax expense and factors contributing to differences in the tax provision - Income tax expense for the nine months ended September 30, 2024, was **$1.3 million**, a decrease from **$1.8 million** in 2023, primarily due to changes in taxable earnings mix[114](index=114&type=chunk)[115](index=115&type=chunk) - Differences in the tax provision are mainly attributable to foreign taxes in profitable jurisdictions and the recording of a full valuation allowance on net deferred tax assets[115](index=115&type=chunk) [Note 21. Geographic Information](index=23&type=section&id=Note%2021.%20Geographic%20Information) This note provides a breakdown of net revenue by geographic region and location of long-lived assets | Region | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :------------ | :-------------------------------------------- | :-------------------------------------------- | | United States | $181,431 | $175,836 | | International | $67,173 | $62,534 | | **Total net revenue** | **$248,604** | **$238,370** | - Net revenue for the United Kingdom represented **10%** of the total consolidated net revenue for the three months ended September 30, 2024[116](index=116&type=chunk) - Substantially all of the Company's long-lived assets are located in the United States[117](index=117&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, results of operations, and cash flows [Overview](index=24&type=section&id=Overview) This section provides a high-level description of Eventbrite's two-sided marketplace business model - Eventbrite operates a two-sided marketplace that connects millions of creators and consumers for live experiences, providing self-service ticketing and marketing tools[120](index=120&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 and non-GAAP financial measures used to assess business performance [Paid Ticket Volume](index=24&type=section&id=Paid%20Ticket%20Volume) This metric tracks the total number of paid tickets processed, indicating transaction activity | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | 19,736 | 22,855 | (3,119) | (13.6%) | | Nine Months Ended Sep 30 | 62,195 | 69,342 | (7,147) | (10.3%) | - Paid ticket volume decreased by **13.6%** for the three months and **10.3%** for the nine months ended September 30, 2024, compared to the prior year[122](index=122&type=chunk) [Adjusted EBITDA](index=24&type=section&id=Adjusted%20EBITDA) This non-GAAP measure reflects the company's operating performance before certain non-cash and non-recurring items - Adjusted EBITDA is a key performance measure used by management for business planning, assessing operating performance, and evaluating acquisition opportunities[123](index=123&type=chunk) | Item | Three Months Ended Sep 30, 2024 (in thousands) | Three Months Ended Sep 30, 2023 (in thousands) | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :----------------------------------------- | :--------------------------------------------- | :--------------------------------------------- | :-------------------------------------------- | :-------------------------------------------- | | Net loss | $(3,768) | $(9,935) | $(7,195) | $(25,542) | | Add: Depreciation and amortization | $3,946 | $3,226 | $11,189 | $9,934 | | Add: Stock-based compensation | $10,246 | $14,468 | $39,484 | $41,161 | | Add: Interest expense | $2,084 | $2,821 | $7,690 | $8,359 | | Less: Interest income | $(6,056) | $(7,569) | $(20,845) | $(19,948) | | **Adjusted EBITDA** | **$5,337** | **$6,403** | **$28,586** | **$19,858** | - Adjusted EBITDA for the nine months ended September 30, 2024, increased to **$28.6 million** from **$19.9 million** in the prior year[124](index=124&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) This section analyzes the company's financial performance across various revenue and expense categories [Net Revenue](index=26&type=section&id=Net%20Revenue) This section discusses the drivers and changes in the company's total revenue streams | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $77,801 | $81,544 | $(3,743) | (5%) | | Nine Months Ended Sep 30 | $248,604 | $238,370 | $10,234 | 4% | - Net revenue decreased by **5%** for the three months ended September 30, 2024, primarily due to lower paid ticket volume and changes to organizer fees (discontinuation of Flex plan and Pro plan pricing reduction)[130](index=130&type=chunk) - Net revenue increased by **4%** for the nine months ended September 30, 2024, driven by an increase in marketplace revenue (organizer fees and advertising services), partially offset by lower paid ticket volume[131](index=131&type=chunk) [Cost of Net Revenue](index=27&type=section&id=Cost%20of%20Net%20Revenue) This section analyzes the direct costs associated with generating revenue and their impact on gross margin | Period | Cost of Net Revenue 2024 (in thousands) | Cost of Net Revenue 2023 (in thousands) | Gross Margin 2024 | Gross Margin 2023 | | :-------------------------- | :-------------------------------------- | :-------------------------------------- | :---------------- | :---------------- | | Three Months Ended Sep 30 | $24,543 | $25,867 | 68% | 68% | | Nine Months Ended Sep 30 | $74,186 | $76,865 | 70% | 68% | - Cost of net revenue decreased for both the three and nine months ended September 30, 2024, primarily due to reduced processing fees and lower personnel costs from the 2023 restructuring[134](index=134&type=chunk) - Gross margin improved for the nine months ended September 30, 2024, primarily due to higher margins attributed to marketplace revenue streams[135](index=135&type=chunk) [Operating Expenses](index=28&type=section&id=Operating%20Expenses) This section details the trends and factors influencing the company's various operating expenditures [Product development](index=28&type=section&id=Product%20development) This expense category covers costs related to enhancing and developing the company's platform and features | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $22,586 | $23,041 | $(455) | (2%) | | Nine Months Ended Sep 30 | $75,327 | $73,091 | $2,236 | 3% | - Product development expenses for the nine months ended September 30, 2024, increased by **3%** due to increased employee-related costs, including stock-based compensation, driven by headcount growth in product development and engineering[140](index=140&type=chunk) [Sales, marketing and support](index=28&type=section&id=Sales,%20marketing%20and%20support) This expense category includes costs for customer acquisition, brand promotion, and customer assistance | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $23,694 | $21,063 | $2,631 | 12% | | Nine Months Ended Sep 30 | $69,084 | $53,802 | $15,282 | 28% | - Sales, marketing and support expenses increased by **28%** for the nine months ended September 30, 2024, primarily due to an **$8.6 million increase** in chargeback and fraud activity reserves and a **$4.7 million change** to advanced payouts reserve[143](index=143&type=chunk) [General and administrative](index=29&type=section&id=General%20and%20administrative) This expense category covers overhead costs not directly tied to product development or sales | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $15,930 | $23,137 | $(7,207) | (31%) | | Nine Months Ended Sep 30 | $52,983 | $66,681 | $(13,698) | (21%) | - General and administrative expenses decreased by **21%** for the nine months ended September 30, 2024, primarily due to decreased personnel costs, including stock-based compensation, resulting from workforce reductions in 2023 and 2024[145](index=145&type=chunk) [Interest Income](index=29&type=section&id=Interest%20Income) This section discusses income earned from cash, cash equivalents, and short-term investments | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $6,056 | $7,569 | $(1,513) | (20%) | | Nine Months Ended Sep 30 | $20,845 | $19,948 | $897 | 4% | - Interest income increased by **4%** for the nine months ended September 30, 2024, primarily due to higher interest rates in the current year[148](index=148&type=chunk) [Interest Expense](index=29&type=section&id=Interest%20Expense) This section details the costs associated with the company's outstanding debt obligations | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $2,084 | $2,821 | $(737) | (26%) | | Nine Months Ended Sep 30 | $7,690 | $8,359 | $(669) | (8%) | - Interest expense decreased for both the three and nine months ended September 30, 2024, due to the repurchase of **$120 million** aggregate principal amount of the 2025 Notes in August 2024[150](index=150&type=chunk) [Other Income (Expense), Net](index=29&type=section&id=Other%20Income%20(Expense),%20Net) This section covers non-operating income and expenses, including foreign currency fluctuations and litigation settlements | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $1,420 | $(2,357) | $3,777 | 160% | | Nine Months Ended Sep 30 | $3,892 | $(3,230) | $7,122 | 220% | - Other income increased significantly for both the three and nine months ended September 30, 2024, driven by foreign currency rate measurement fluctuations and a **$3.9 million gain** from a litigation settlement in June 2024[152](index=152&type=chunk) [Income Tax Provision](index=30&type=section&id=Income%20Tax%20Provision) This section explains the company's income tax expense and the factors influencing its calculation | Period | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) | % Change | | :-------------------------- | :------------------ | :------------------ | :-------------------- | :------- | | Three Months Ended Sep 30 | $208 | $762 | $(554) | (73%) | | Nine Months Ended Sep 30 | $1,266 | $1,832 | $(566) | (31%) | - The decrease in income tax provision for both periods was primarily attributable to insignificant non-routine tax expenses recorded during both years and changes in taxable earnings mix[154](index=154&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) This section assesses the company's ability to meet its short-term and long-term financial obligations - As of September 30, 2024, Eventbrite had **$531.0 million** in cash and cash equivalents, **$24.7 million** in short-term investments, and **$30.2 million** in funds receivable[155](index=155&type=chunk) - Approximately **25%** of the Company's cash was held outside the United States, primarily to fund foreign operations and on behalf of creators[155](index=155&type=chunk) - The Company repurchased **$120 million principal** of 2025 Notes in Q3 2024 and **$39.4 million** of Class A common stock under a **$100 million repurchase program**, with **$60.7 million** remaining[157](index=157&type=chunk)[158](index=158&type=chunk) - Management believes that existing cash, along with cash generated from operations, will be sufficient to meet anticipated cash needs for at least the next **12 months**[159](index=159&type=chunk) [Cash Flows](index=31&type=section&id=Cash%20Flows) This section analyzes the sources and uses of cash from operating, investing, and financing activities [Comparison of Nine Months Ended September 30, 2024 and 2023](index=31&type=section&id=Comparison%20of%20Nine%20Months%20Ended%20September%2030,%202024%20and%202023) This section provides a detailed comparison of cash flow activities between the two reporting periods [Cash Flows from Operating Activities](index=31&type=section&id=Cash%20Flows%20from%20Operating%20Activities) This section details cash generated or used by the company's primary business operations - Net cash provided by operating activities decreased to **$85.6 million** in 2024 from **$101.8 million** in 2023, primarily due to changes in operating assets and liabilities[161](index=161&type=chunk)[162](index=162&type=chunk) [Cash Flows from Investing Activities](index=31&type=section&id=Cash%20Flows%20from%20Investing%20Activities) This section outlines cash flows related to the purchase and sale of long-term assets and investments - Net cash provided by investing activities was **$124.6 million** in 2024 (compared to **$68.5 million used** in 2023), driven by **$269.0 million** in maturities of short-term investments, offset by **$136.8 million** in purchases[163](index=163&type=chunk)[164](index=164&type=chunk) [Cash Flows from Financing Activities](index=31&type=section&id=Cash%20Flows%20from%20Financing%20Activities) This section describes cash flows from debt, equity transactions, and dividend payments - Net cash used in financing activities significantly increased to **$166.1 million** in 2024 (from **$4.0 million** in 2023), primarily due to the **$120.5 million repurchase** of 2025 Notes and **$39.3 million repurchase** of Class A common stock[165](index=165&type=chunk)[166](index=166&type=chunk) [Effect of exchange rate changes on cash, cash equivalents and restricted cash](index=32&type=section&id=Effect%20of%20exchange%20rate%20changes%20on%20cash,%20cash%20equivalents%20and%20restricted%20cash) This section quantifies the impact of foreign currency fluctuations on the company's cash balances - A **$2.4 million decrease** in cash, cash equivalents, and restricted cash was recorded in 2024 due to the strengthening of the U.S. dollar, primarily impacting creator cash balances[167](index=167&type=chunk) [Contractual Obligations and Commitments](index=32&type=section&id=Contractual%20Obligations%20and%20Commitments) This section outlines the company's significant future payment obligations under debt and lease agreements - The Company's principal commitments consist of obligations under the Convertible Notes (including principal and coupon interest) and operating leases for office space[168](index=168&type=chunk) [Off-Balance Sheet Arrangements](index=32&type=section&id=Off-Balance%20Sheet%20Arrangements) This section discloses any material transactions, agreements, or other arrangements not recorded on the balance sheet - The Company does not currently have any off-balance sheet arrangements as of September 30, 2024[169](index=169&type=chunk) [Critical Accounting Policies and Estimates](index=32&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section highlights accounting policies requiring significant judgment and their potential impact on financial results - There have been no significant changes to the Company's critical accounting policies from the 2023 Form 10-K that have had a material impact on the unaudited condensed consolidated financial statements[171](index=171&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) This section discusses Eventbrite's exposure to market risks, including interest rate sensitivity and foreign currency risk [Interest Rate Sensitivity](index=33&type=section&id=Interest%20Rate%20Sensitivity) This section assesses the impact of interest rate changes on the company's financial instruments - The Company is exposed to market risk for changes in interest rates primarily related to its cash, cash equivalents, and short-term investments, but a **10% change** in market interest rates is not expected to have a material effect[173](index=173&type=chunk) - The Convertible Notes are subject to fixed annual interest charges and are not exposed to financial risk from interest rate changes, though their fair value may fluctuate[173](index=173&type=chunk) [Foreign Currency Risk](index=33&type=section&id=Foreign%20Currency%20Risk) This section evaluates the exposure to fluctuations in foreign currency exchange rates from international operations - Significant ticket sales denominated in foreign currencies (British Pound, Euro, Canadian Dollar, Australian Dollar) expose the Company to foreign currency exchange rate fluctuations[174](index=174&type=chunk) - A **10% increase or decrease** in individual currency exchange rates is not expected to have a material impact on the consolidated results of operations[174](index=174&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) This section details management's evaluation of the effectiveness of disclosure controls and internal control over financial reporting - Management concluded that the Company's disclosure controls and procedures were effective as of September 30, 2024, providing reasonable assurance for timely and accurate financial reporting[176](index=176&type=chunk) - There have been no material changes in internal control over financial reporting during the quarter ended September 30, 2024[177](index=177&type=chunk) [Part II. Other Information](index=34&type=section&id=PART%20II.%20OTHER%20INFORMATION) This part covers legal proceedings, risk factors, equity sales, and other regulatory disclosures [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 17 for detailed information regarding the company's legal proceedings and loss contingencies - Information regarding legal proceedings is detailed in Note 17, 'Commitments and Contingencies,' within the unaudited condensed consolidated financial statements[180](index=180&type=chunk) [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) This section highlights new or updated risks related to pricing model changes, third-party reliance, and personnel retention - The Company updated its pricing model in September 2024 to remove upfront fees, enabling creators to publish events for free, but its business still depends on creators selecting and renewing subscription plans[184](index=184&type=chunk)[185](index=185&type=chunk) - Reliance on third-party distribution partners (e.g., Meta, Bandsintown, TikTok) poses a risk if these partners terminate relationships, limit integration functionality, or change their platforms, impacting Eventbrite's ability to reach consumers[186](index=186&type=chunk)[187](index=187&type=chunk) - The recent reduction in force (approximately **11% of workforce**) may negatively impact the employer brand, making it more difficult to attract and retain highly skilled personnel, particularly engineers[193](index=193&type=chunk)[194](index=194&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section reports on unregistered equity sales and details the company's share repurchase activities - There were no sales of unregistered equity securities during the three months ended September 30, 2024[197](index=197&type=chunk) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Approximate Dollar Value of Shares that May Yet be Purchased (in thousands) | | :------------------------ | :------------------------------- | :--------------------------- | :------------------------------------------------------------------------ | | July 1, 2024 - July 31, 2024 | 455,314 | $4.94 | $60,704 | | August 1, 2024 - August 31, 2024 | — | — | $60,704 | | September 1, 2024 - September 30, 2024 | — | — | $60,704 | | **Total** | **455,314** | **$4.94** | **$60,704** | - As of September 30, 2024, approximately **$60.7 million** remained available and authorized for future repurchases under the **$100 million share repurchase program**[197](index=197&type=chunk) [Item 3. Defaults Upon Senior Securities](index=36&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section confirms that there were no defaults on senior securities during the reported period - No defaults upon senior securities were reported[198](index=198&type=chunk) [Item 4. Mine Safety Disclosures](index=36&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section states that mine safety disclosure requirements are not applicable to the company - This item is not applicable to the Company[198](index=198&type=chunk) [Item 5. Other Information](index=36&type=section&id=Item%205.%20Other%20Information) This section reports on the absence of changes to Rule 10b5-1 trading plans by directors or officers - No written trading arrangements under Rule 10b5-1 were adopted, terminated, or modified by directors or officers during the three months ended September 30, 2024[199](index=199&type=chunk) [Item 6. Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed or incorporated by reference in the Quarterly Report on Form 10-Q - The report includes an Exhibit Index listing various documents filed or incorporated by reference, such as the Amended and Restated Certificate of Incorporation, Bylaws, and certifications[201](index=201&type=chunk)[203](index=203&type=chunk) [Signatures](index=38&type=section&id=Signatures) This section contains the official signatures of the company's authorized officers - The report was duly signed on November 7, 2024, by Julia Hartz (Chief Executive Officer) and Charles Baker (Chief Operating and Financial Officer)[206](index=206&type=chunk)

[Third Quarter 2024 Earnings Overview](index=1&type=section&id=Third%20Quarter%202024%20Earnings%20Overview) [Executive Summary & Key Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Key%20Highlights) Eventbrite exceeded Q3 2024 revenue expectations, improving creator acquisition, with net loss significantly narrowed and Adjusted EBITDA positive - Q3 2024 revenue was **$77.8 million**, exceeding the anticipated range[1](index=1&type=chunk) - Consumer reach exceeded **93 million**, with **19.7 million** paid tickets sold[1](index=1&type=chunk) - Creator acquisition improved following the launch of a free plan in September[1](index=1&type=chunk) Key Financial Highlights for Q3 2024 | Metric | Amount/Ratio | | :--- | :--- | | Net Revenue | $77.8 Million (5% YoY decrease) | | Total Free and Paid Tickets | 65.0 Million Tickets | | Gross Margin | 68.5% (68.3% in prior year period) | | Net Loss | $(3.8) Million ($(9.9) Million in prior year period, including $5.4 Million in severance costs) | | Net Loss Margin | (4.8)% ((12.2)% in prior year period) | | Adjusted EBITDA | $5.3 Million | | Adjusted EBITDA Margin | 6.9% | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Julia Hartz highlighted exceeding Q3 expectations, positive pricing impact on creator acquisition, and strategic initiatives for sustainable growth - Q3 performance exceeded the company's anticipated range[2](index=2&type=chunk) - Pricing actions taken in September have begun to benefit creator acquisition[2](index=2&type=chunk) - The company launched Timed Entry, is enhancing customer service and support, and expanding personalization and discoverability to attract more consumers[2](index=2&type=chunk) - Confidence in market strategy is strong, committed to driving sustainable long-term growth and shareholder value through execution and delivering exceptional experiences[2](index=2&type=chunk) [Company Overview](index=3&type=section&id=Company%20Overview) Eventbrite is a global event marketplace serving creators and attendees in nearly 180 countries, simplifying event organization and ticket sales - Eventbrite is a global event marketplace, serving creators and event attendees in nearly 180 countries[9](index=9&type=chunk) - The company aims to empower anyone to create and sell tickets for live experiences through its self-service platform[9](index=9&type=chunk) - In 2023, over **300 million** tickets were distributed, and over **5 million** events were hosted[9](index=9&type=chunk) - Recognized by the industry, including being named one of Fast Company's "50 Most Innovative Companies in the World" and a "Brand to Watch," as well as receiving the "Great Place to Work® Award" and "Inc.'s Best-Led Companies" honor[9](index=9&type=chunk) [Financial Performance & Operating Metrics](index=2&type=section&id=Financial%20Performance%20%26%20Operating%20Metrics) [Summary of GAAP and Non-GAAP Financial Results](index=2&type=section&id=Summary%20of%20GAAP%20and%20Non-GAAP%20Financial%20Results) Eventbrite's Q3 2024 net revenue decreased 5% to $77.8 million, but net loss significantly improved, with year-to-date net revenue growing 4% GAAP and Non-GAAP Financial Results (As of September 30) | Metric (Thousands of USD) | Q3 2024 | Q3 2023 | YoY Change (%) | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Ticket Sales | 795,367 | 892,431 | (11)% | 2,489,364 | 2,688,794 | (7)% | | Net Revenue | 77,801 | 81,544 | (5)% | 248,604 | 238,370 | 4% | | Gross Profit | 53,258 | 55,677 | (4)% | 174,418 | 161,505 | 8% | | Gross Margin | 68% | 68% | - | 70% | 68% | - | | Net Income (Loss) | (3,768) | (9,935) | (62)% | (7,195) | (25,542) | (72)% | | Net Income (Loss) Margin | (5)% | (12)% | - | (3)% | (11)% | - | | Adjusted EBITDA (Non-GAAP) | 5,337 | 6,403 | (17)% | 28,586 | 19,858 | 44% | | Adjusted EBITDA Margin (Non-GAAP) | 7% | 8% | - | 11% | 8% | - | [Key Operating Metrics](index=2&type=section&id=Key%20Operating%20Metrics) Q3 2024 saw year-over-year declines in total tickets, paid tickets, events, and creators, while average ticket value increased by 3% Key Operating Metrics (Thousands) (As of September 30) | Metric (Thousands) | Q3 2024 | Q3 2023 | YoY Change (%) | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Tickets | 64,986 | 77,257 | (16)% | 197,597 | 231,274 | (15)% | | Paid Tickets | 19,736 | 22,855 | (14)% | 62,195 | 69,342 | (10)% | | Total Events | 1,357 | 1,572 | (14)% | 3,655 | 3,979 | (8)% | | Paid Events | 509 | 561 | (9)% | 1,349 | 1,381 | (2)% | | Total Creators | 333 | 395 | (16)% | 640 | 716 | (11)% | | Paid Creators | 163 | 185 | (12)% | 313 | 329 | (5)% | | Average Ticket Value (ATV) | $40.30 | $39.05 | 3% | $40.03 | $38.79 | 3% | | Total Ticket Buyers | 26,604 | 31,420 | (15)% | 65,894 | 75,742 | (13)% | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $817.4 million as of September 30, 2024, primarily due to reduced short-term investments and long-term debt Condensed Consolidated Balance Sheets (Thousands of USD) | Asset/Liability/Equity | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | 530,957 | 489,200 | | Short-term Investments | 24,665 | 153,746 | | Total Current Assets | 611,284 | 711,851 | | Total Assets | 817,373 | 913,330 | | **Liabilities** | | | | Funds Payable to Creators | 355,074 | 303,436 | | Total Current Liabilities | 391,559 | 357,611 | | Long-term Debt | 240,395 | 357,668 | | Total Liabilities | 637,535 | 721,573 | | **Stockholders' Equity** | | | | Total Stockholders' Equity | 179,838 | 191,757 | [Condensed Consolidated Statement of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Operations) Q3 2024 net revenue decreased 5% to $77.8 million, but operating loss narrowed 22% to $9.0 million, and net loss significantly improved Condensed Consolidated Statement of Operations (Thousands of USD) | Metric | Q3 2024 | Q3 2023 | YoY Change (%) | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Revenue | 77,801 | 81,544 | (5)% | 248,604 | 238,370 | 4% | | Cost of Revenue | 24,543 | 25,867 | (5)% | 74,186 | 76,865 | (3)% | | Gross Profit | 53,258 | 55,677 | (4)% | 174,418 | 161,505 | 8% | | Total Operating Expenses | 62,210 | 67,241 | (7)% | 197,394 | 193,574 | 2% | | Operating Loss | (8,952) | (11,564) | (22)% | (22,976) | (32,069) | (28)% | | Interest Income | 6,056 | 7,569 | (20)% | 20,845 | 19,948 | 4% | | Interest Expense | (2,084) | (2,821) | (26)% | (7,690) | (8,359) | (8)% | | Net Loss | (3,768) | (9,935) | (62)% | (7,195) | (25,542) | (72)% | | Net Loss Per Share (Basic and Diluted) | (0.04) | (0.10) | (60)% | (0.08) | (0.26) | (69)% | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to $85.6 million for the nine months ended September 30, 2024, while net cash from investing activities significantly improved Condensed Consolidated Statements of Cash Flows (Thousands of USD) | Cash Flow Activities | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | 85,628 | 101,800 | | Net Cash Provided by (Used in) Investing Activities | 124,644 | (68,516) | | Net Cash Used in Financing Activities | (166,129) | (3,990) | | Net Increase in Cash, Cash Equivalents, and Restricted Cash | 41,757 | 28,369 | | Cash, Cash Equivalents, and Restricted Cash at End of Period | 530,957 | 568,543 | [Business Outlook & Non-GAAP Financial Measures](index=2&type=section&id=Business%20Outlook%20%26%20Non-GAAP%20Financial%20Measures) [Business Outlook](index=2&type=section&id=Business%20Outlook) Eventbrite projects Q4 2024 revenue between $74 million and $77 million, with full-year revenue expected between $322 million and $326 million, and an Adjusted EBITDA margin of approximately 10% - Expected Q4 2024 revenue range is **$74 million to $77 million**[6](index=6&type=chunk) - Expected full-year 2024 revenue range is **$322 million to $326 million**[6](index=6&type=chunk) - Expected full-year 2024 Adjusted EBITDA margin is approximately **10%** (excluding the impact of severance and other non-recurring items)[6](index=6&type=chunk) - No outlook for GAAP net income (loss) or GAAP net income (loss) margin is provided due to complexity and variability[7](index=7&type=chunk) [Reconciliation of Net Income (Loss) to Adjusted EBITDA](index=8&type=section&id=Reconciliation%20of%20Net%20Income%20(Loss)%20to%20Adjusted%20EBITDA) This section details the adjustment of GAAP net loss to Adjusted EBITDA, showing a Q3 2024 net loss of $3.8 million adjusted to an Adjusted EBITDA of $5.3 million Reconciliation of Net Income (Loss) to Adjusted EBITDA (Thousands of USD) | Metric | Q3 2024 | Q3 2023 | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Loss | (3,768) | (9,935) | (7,195) | (25,542) | | Add: Depreciation and Amortization | 3,946 | 3,226 | 11,189 | 9,934 | | Add: Stock-based Compensation Expense | 10,246 | 14,468 | 39,484 | 41,161 | | Less: Interest Income | (6,056) | (7,569) | (20,845) | (19,948) | | Add: Interest Expense | 2,084 | 2,821 | 7,690 | 8,359 | | Add: Other (Income) Expense, Net | (1,420) | 2,357 | (3,892) | 3,230 | | Add: Provision for Income Taxes | 208 | 762 | 1,266 | 1,832 | | **Adjusted EBITDA** | **5,337** | **6,403** | **28,586** | **19,858** | | Net Revenue | 77,801 | 81,544 | 248,604 | 238,370 | | Adjusted EBITDA Margin | 7% | 8% | 11% | 8% | - Net loss and Adjusted EBITDA for Q3 2024 and the nine months ended September 30, 2024, both include **$5.4 million** in severance costs[15](index=15&type=chunk) [About Non-GAAP Financial Measures](index=9&type=section&id=About%20Non-GAAP%20Financial%20Measures) Eventbrite utilizes Adjusted EBITDA and Adjusted EBITDA Margin as non-GAAP metrics to assess operational performance and aid management in strategic planning, despite their inherent limitations - Adjusted EBITDA and Adjusted EBITDA Margin are used by management to assess business health, operating performance, make operational decisions, strategic planning, and annual budgeting[16](index=16&type=chunk) - Adjusted EBITDA is calculated as net income (loss) adjusted to exclude depreciation and amortization, stock-based compensation expense, interest expense, interest income, employer taxes related to employee equity transactions, other (income) expense, net (including foreign currency exchange rate gains and losses), and provision (benefit) for income taxes[17](index=17&type=chunk) - Limitations of non-GAAP measures include not reflecting capital expenditures or future contractual commitments off the balance sheet, not reflecting capital expenditures, and not reflecting interest and principal payments required to service debt[18](index=18&type=chunk) - These measures are not prepared in accordance with GAAP and should not be considered in isolation or as a substitute for an analysis of operating results reported under GAAP[16](index=16&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) [Additional Information](index=3&type=section&id=Additional%20Information) [Earnings Webcast Information](index=3&type=section&id=Earnings%20Webcast%20Information) Eventbrite's Q3 2024 earnings call was held on November 7, 2024, with a live webcast and archived recording available on the investor relations website - Event: Eventbrite Q3 2024 Earnings Call[8](index=8&type=chunk) - Date: Thursday, November 7, 2024[8](index=8&type=chunk) - Time: 2:00 PM PT (5:00 PM ET)[8](index=8&type=chunk) - Live Webcast Site: https://investor.eventbrite.com[8](index=8&type=chunk) - An archived webcast of the conference call is available on Eventbrite's investor relations page[8](index=8&type=chunk) [Forward-Looking Statements & Disclaimers](index=3&type=section&id=Forward-Looking%20Statements%20%26%20Disclaimers) This press release contains forward-looking statements subject to significant risks and uncertainties, and investors are cautioned that actual results may differ materially from expectations - This press release contains forward-looking statements regarding the company's future performance, operating model, and market strategy[10](index=10&type=chunk) - These statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results to differ materially from expectations[10](index=10&type=chunk) - Investors are cautioned not to place undue reliance on these statements, and the company undertakes no obligation to update any statements unless required by law[10](index=10&type=chunk) - Ticket, creator, and event metrics are based on reasonable estimates and should not be considered in isolation or as a substitute for an analysis of GAAP operating results[11](index=11&type=chunk)

Eventbrite (NYSE: EB ) is a ticketing and event platform with a focus on small- and mid-market events. After surviving the impact of covid-19 on the industry, the company's management has made certain changes to their business model Analyst's Disclosure: I/we have a beneficial long position in the shares of EB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I ...

| --- | --- | --- | --- | --- | |-------|-------|-------------------------------------------|-------|-------| | | | Q2 INVESTOR PRESENTATION \nAugust 8, 2024 | | | | | | eventbrite | | | | | | li | | | | | | 0 | | | Disclaimer Regarding Forward Looking Statements 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial ...

Eventbrite, Inc. (NYSE:EB) Q2 2024 Earnings Call August 8, 2024 5:00 PM ET Company Participants Katie Pickett - Investor Relations Julia Hartz - Co-Founder and Chief Executive Officer Lanny Baker - Chief Operating and Financial Officer Conference Call Participants Cameron Mansson-Perrone - Morgan Stanley Justin Patterson - KeyBanc Capital Hamed Khorsand - BWS Financial Naved Khan - B. Riley Securities Operator Good afternoon, everyone, and welcome to the Eventbrite, Inc. Second Quarter 2024 Earnings Confere ...

Eventbrite (EB) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.06 per share. This compares to loss of $0.03 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 116.67%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.05, delivering a surprise of 16.67%. Over the last four quarters, the company has ...

Eventbrite is letting go of about 100 employees, or 11% of its workforce, the company said Thursday. It expects to incur about $7 million in costs associated with the reduction. The company previously cut 8% of its workforce in February 2023. Insider Today NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personal ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-Q ____________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------- ...

Exhibit 99.1 8/8/2024 Second Quarter 2024 Highlights Eventbrite Reports Second Quarter 2024 Financial Results Second quarter revenue grows 7% year-over-year to $84.6 million, within outlook range Revises full year net revenue outlook reflecting pricing-related adjustments Announces plan to reduce operating expenses and strengthen long-term results SAN FRANCISCO -- (BUSINESS WIRE) -- Eventbrite (NYSE: EB), a global marketplace for shared experiences, reported its financial results for the second quarter ende ...