Eventbrite ( (EB) ) has released its Q3 earnings. Here is a breakdown of the information Eventbrite presented to its investors.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Eventbrite is a global marketplace for live experiences, connecting event creators with audiences in nearly 180 countries, and is known for its innovative self-service ticketing platform.
In the third quarter of 2024, Eventbrite reported a revenue of $77.8 million, surpassing expectations, with significant improvement in creator acquisition due to strategic pricing changes. This quarter saw the company enhancing its platform with features like timed entry and improved customer service.
Key financial metrics included a 5% year-over-year decline in net revenue and a gross margin of 68.5%. Despite reporting a net loss of $3.8 million, this was a marked improvement from the previous year’s net loss of $9.9 million. The company’s adjusted EBITDA stood at $5.3 million, indicating a focus on operational efficiency.
Looking ahead, Eventbrite remains optimistic about its marketplace strategy and expects fourth-quarter revenues to range between $74 million and $77 million, with an adjusted EBITDA margin projected to be around 10% for the year. The company continues to focus on sustainable growth and enhancing user experiences through strategic initiatives.
