Eventbrite, Inc. Q1 FY2024 earnings call

• Focused on strategic transformation to be a consumer marketplace for live events. - Revenue at $86.3 million, marketplace revenue up to 13% of total. - Revenue per paid ticket up 21% y-o-y. - Operating expenses declined, adjusted EBITDA margin 12%. - Actions taken: increased sales team size and productivity, adjusted pricing and packaging, improved self-sign-on experience, introduced instant payouts and tap-to-pay, new creator dashboard, expanded customer support. - Consumer side: average monthly active users 85 million, mobile app users up 15%, mobile purchases up 35%. - Utilized generative AI in event creation and discovery.

Revenue for the first quarter was $86.3 million, which was toward the higher end of the range. Marketplace revenue represented 13% of total revenue, up from 3% a year ago. Revenue per paid ticket was $4.07, up 21% compared to Q1 2023. Organizer fees totaled $8.5 million in Q1 2024, an increase from $6.6 million in the preceding quarter. Revenue from Eventbrite ads was $2.5 million in Q1, up nearly 3x year-over-year. Paid ticket volume was 21.2 million, 8% below a year ago, but there were improved comparisons in Q2. Gross margins reached a new record of 71% in the first quarter.

• Full-year 2024 revenue expected in the range of $360 million to $371 million, midpoint equates to 12% revenue growth over 2023. - Q2 2024 revenue expected in the range of $84 million to $87 million. - Paid ticket volume expected to be down slightly to up modestly for the full year. - Adjusted EBITDA margins anticipated in the low- to mid-teens for full year 2024.

• Competitive market dynamics in a fragmented space. - New technologies entering the market potentially disrupting the experience. - Impact of free creators leaving on the ads business growth prospects.

Q: Stats on new paid creators and consumer purchases?

A: Charles Baker mentioned 92,000 new creators added, and Julia Hartz talked about consumer ticket fees absorbed well and steady purchasing behavior.

Q: Paid ticket volume outlook and marketplace revenue upper limit?

A: Charles Baker clarified paid ticket volume expectations for full year and discussed marketplace revenue growth potential with Eventbrite ads coverage and performance.