Featured Image: Andre Benz on Unsplash
Eventbrite’s net revenue for the third quarter dropped 5% year-over-year to $77.8m (£61m/€73m) from $81.5m, though the ticket marketplace remains positive.
Gross ticket sales brought in $795m, down from $892m during the same period the year prior. Gross profit amounted to $53m, a 4% decrease on the $55.6m.
Eventbrite also posted a net loss of $3.8m and a net loss margin of 4.8%, which includes a $5.4m from reduction in force charges. However, this is more positive when compared to a net loss of $9.9m and net loss margin of 12.2% during the same period last year.
Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) reached $5.3m, down from $6.4m during the same period in 2023.
Some 65 million tickets were sold across 1.4 million events during the third quarter.
“In the third quarter, our results were above our outlook range and the actions we took on pricing in September have begun to benefit creator acquisition,” said Julia Hartz, co-founder, chief executive, and executive chair.
“We launched timed entry, are elevating our customer service and support to help creators grow, and are expanding personalisation and discoverability to drive more consumers to our platform. We remain confident in our marketplace strategy, as we work to drive sustainable long-term growth and shareholder value by focusing on execution and delighting consumers and creators with great experiences.”
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