Q1 2024 Eventbrite Inc Earnings Call Transcript
Key Points
- Revenue reached $86.3 million, an 11% increase year-over-year, with marketplace revenue growing significantly.
- Revenue per paid ticket increased by 21% compared to Q1 2023, reaching $4.7.
- Gross margins reached a new record of 71%, benefiting from strategic reductions in fixed costs.
- Eventbrite's marketplace strategy is enhancing unit economics and profit margins, with a strong focus on demand-generation capabilities.
- Mobile app usage saw significant growth, with a 15% increase in users and a 35% increase in mobile purchases, indicating higher consumer engagement.
- Paid ticket volume was down 8% from the previous year, reflecting challenges in transitioning to a new marketplace model.
- The introduction of new pricing and packaging had a near-term negative impact on the acquisition and retention of smaller customers.
- Despite growth in high-value events, the overall number of paid creators slightly declined by 1%.
- Eventbrite is still working through the friction of transitioning to a two-sided marketplace, which could affect short-term growth.
- The company reported a net loss of $4.5 million for the quarter, indicating ongoing financial pressures despite revenue growth.
Good afternoon, ladies and gentlemen. Welcome to Eventbrite first-quarter 2024 earnings call. At this time, all lines are in a listen only mode. Following the presentation, we'll conduct a question-and-answer session. (Operator Instructions) I would now like to turn the conference over to Katie Pickett, Investor Relations. Please go ahead.
Good afternoon, and welcome to Eventbrite First Quarter 2024 earnings call. My name is Katie Pickett, Investor Relations. With us today are Julia Hartz, our Co-Founder and Chief Executive Officer; and Lanny Baker, our Chief Financial Officer. As a reminder, this conference call is being recorded and will be available for replay on Eventbrite Investor Relations website at investor dot eventbrite.com. Please also refer to our Investor Relations website to find our shareholder letter announcing our financial results, which was released prior to the call.
Before we get started, I would like to remind you that during today's call, we will be making forward-looking statements regarding
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
