Eventbrite Inc (EB) Q3 2024 Earnings Call Highlights: Navigating Revenue Challenges and ...

GuruFocus.com11-08

Revenue: $77.8 million for Q3 2024, above the $74 million to $77 million outlook range, but down 5% year-over-year. Ticketing Revenue: Decreased by 11% year-over-year. Non-Ticketing Revenue: ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481118149?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/bO2GLqKUgiA0nLYzP5S6jg--~B/aD0yNjI7dz01MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/739002519ef3f31a5c7449a0981da0d6","is_english":true,"pubTime":"2024-11-08 15:32","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2481118149","market":"us","top_or_hot":-1,"title":"Eventbrite Inc (EB) Q3 2024 Earnings Call Highlights: Navigating Revenue Challenges and ...","media":"GuruFocus.com","content":"<div>\n<p>Revenue: $77.8 million for Q3 2024, above the $74 million to $77 million outlook range, but down 5% year-over-year.\nTicketing Revenue: Decreased by 11% year-over-year.\nNon-Ticketing Revenue: ...</p>\n\n<a href=\"https://finance.yahoo.com/news/eventbrite-inc-eb-q3-2024-073214116.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Eventbrite Inc (EB) Q3 2024 Earnings Call Highlights: Navigating Revenue Challenges and ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEventbrite Inc (EB) Q3 2024 Earnings Call Highlights: Navigating Revenue Challenges and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 15:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/eventbrite-inc-eb-q3-2024-073214116.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $77.8 million for Q3 2024, above the $74 million to $77 million outlook range, but down 5% year-over-year.\nTicketing Revenue: Decreased by 11% year-over-year.\nNon-Ticketing Revenue: ...</p>\n\n<a href=\"https://finance.yahoo.com/news/eventbrite-inc-eb-q3-2024-073214116.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EB","symbol_name":"Eventbrite Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/eventbrite-inc-eb-q3-2024-073214116.html","article_id":"2481118149","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/bO2GLqKUgiA0nLYzP5S6jg--~B/aD0yNjI7dz01MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/739002519ef3f31a5c7449a0981da0d6"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481118149","pubTimestamp":1731051134,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: $77.8 million for Q3 2024, above the $74 million to $77 million outlook range, but down 5% year-over-year.Non-Ticketing Revenue: Represented 12% of total revenue for the quarter.Paid Creators: Declined 12% year-over-year to 163,000 in Q3 2024.Paid Tickets Issued: 19.7 million, down 14% year-over-year.Average Ticket Price: Increased by 3% year-over-year to $40.30.Revenue Take Rate: 9.8% in Q3 2024, 60 basis points higher than a year ago.Revenue per Ticket: $3.97 in Q3 2024, compared to $3.57 a year ago.Gross Margin: 68.5%, compared to 68.3% a year ago.Total Operating Expenses: $62.2 million, compared to $67.2 million a year ago.Net Loss: $3.8 million for Q3 2024, compared to a net loss of $9.9 million in Q3 2023.Adjusted EBITDA: $5.8 million, including $5.4 million in severance and other costs.Cash and Cash Equivalents: $531 million at the end of Q3 2024.Long-term Debt: Reduced to $240 million from $359 million a quarter ago.GuruFocus has detected 4 Warning Signs with EB.Eventb","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"EB":"Eventbrite Inc."},"translate_title":"Eventbrite Inc(EB)2024年第三季度收益看涨期权亮点：应对收入挑战和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EB":1},"content_text":"Revenue: $77.8 million for Q3 2024, above the $74 million to $77 million outlook range, but down 5% year-over-year.\nTicketing Revenue: Decreased by 11% year-over-year.\nNon-Ticketing Revenue: Represented 12% of total revenue for the quarter.\nPaid Creators: Declined 12% year-over-year to 163,000 in Q3 2024.\nEvents per Creator: Increased by 3% year-over-year.\nTickets per Event: Declined by 5% year-over-year.\nPaid Tickets Issued: 19.7 million, down 14% year-over-year.\nAverage Ticket Price: Increased by 3% year-over-year to $40.30.\nRevenue Take Rate: 9.8% in Q3 2024, 60 basis points higher than a year ago.\nRevenue per Ticket: $3.97 in Q3 2024, compared to $3.57 a year ago.\nGross Profit: $53.3 million, down 4% year-over-year.\nGross Margin: 68.5%, compared to 68.3% a year ago.\nTotal Operating Expenses: $62.2 million, compared to $67.2 million a year ago.\nNet Loss: $3.8 million for Q3 2024, compared to a net loss of $9.9 million in Q3 2023.\nAdjusted EBITDA: $5.8 million, including $5.4 million in severance and other costs.\nCash and Cash Equivalents: $531 million at the end of Q3 2024.\nLong-term Debt: Reduced to $240 million from $359 million a quarter ago.\nShare Repurchase Program: $39 million in share repurchases year-to-date, reducing shares outstanding by approximately 7% since the start of the year.\nQ4 2024 Revenue Outlook: Expected to be within a range of $74 million to $77 million.\nFull Year 2024 Revenue Outlook: Expected to be within a range of $322 million to $326 million.\n\n\nWarning! GuruFocus has detected 4 Warning Signs with EB.\n\nRelease Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nEventbrite Inc (NYSE:EB) exceeded its revenue outlook for the third quarter, reporting $77.8 million.\nThe company has seen success with its new creator acquisition strategy following pricing changes in September.\nEventbrite Inc (NYSE:EB) has strengthened its financial position while continuing to invest in growth.\nThe introduction of a free tier has shown positive impacts on creator acquisition and ticket volume.\nEventbrite Inc (NYSE:EB) has improved its customer support model, achieving an 80% reduction in response times and expanding to 24/7 phone support for premium creators.\n\n Negative Points \n\nThird quarter revenue was down 5% year-over-year due to ticket volume headwinds.\nTicketing revenue declined by 11% compared to the previous year.\nThe total number of paid creators decreased by 12% year-over-year.\nTickets per event declined by 5%, with a total of 19.7 million paid tickets issued, down 14% year-over-year.\nEventbrite Inc (NYSE:EB) faced increased chargebacks and fraud remediation expenses, totaling $6.8 million in the quarter.\n\n Q & A Highlights \nQ: Can you provide more color on where paid creators went after leaving the platform due to organizer fee transitions, and what initiatives have been effective in winning them back? A: Julia Hartz, CEO, explained that many creators moved to homegrown solutions or startup competitors rather than major competitors. Eventbrite is winning them back through marketing channel activations, incentivizing returns with pricing changes, and updating them on new platform features like TikTok integration and 24/7 support. Since early September, Eventbrite has won back creators who have sold over three-quarters of a million tickets.\nQ: How should we think about the impact of the free tier on paid creator growth and take rates in Q4? A: Julia Hartz noted that the marketplace transformation is showing early success, with over 13,000 creators returning. Revenue per paid ticket remains strong, and the sales team is focusing on strategic inventory. Lanny Baker, CFO, added that while organizer fees will decrease, the core ticketing take rate should remain stable, and Eventbrite ads continue to drive revenue growth.\nQ: What is the status of the TikTok partnership, and are there specific event categories benefiting from it? A: Julia Hartz stated that daily impressions from TikTok have remained stable. The partnership allows creators to embed event links in TikTok posts, targeting the 21- to 35-year-old demographic. Popular categories benefiting include music, food and drink, and community events.\nQ: What are the key growth drivers for Eventbrite moving forward? A: Julia Hartz highlighted the marketplace transformation, expanded free tier, successful win-back campaigns, and strong consumer reach as key growth drivers. The focus is on driving adoption of Eventbrite ads and enhancing the consumer app to improve discovery and demand.\nQ: How is Eventbrite managing its financial outlook and cash flow? A: Lanny Baker mentioned that Eventbrite expects Q4 revenue between $74 million and $77 million, with a full-year adjusted EBITDA margin of approximately 10%. The company is committed to buying back up to $50 million in stock this year and has already reduced shares outstanding by about 7%.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481118149"}