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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________________________

FORM 8-K
___________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
May 2, 2024
_________________________________________________________________________________

EVENTBRITE, INC.
(Exact Name of Registrant as Specified in Charter)
_________________________________________________________________________________
Delaware
001-38658
14-1888467
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
95 Third Street, 2nd Floor,
San Francisco, California 94103
(Address of principal executive offices) (Zip Code)

(415) 692-7779
(Registrant’s telephone number, include area code)

Not applicable
(Former name or former address, if changed since last report)
_____________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading symbol(s) Name of each exchange on which registered
Class A common stock, par value $0.00001 per share EB New York Stock Exchange LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐



Item 2.02    Results of Operations and Financial Condition
On May 2, 2024, Eventbrite, Inc. (the "Company") issued a press release and Shareholder Letter (the "Letter") announcing its financial results for the quarter ended March 31, 2024. Copies of the issued press release and the Letter are attached hereto as Exhibits 99.1 and 99.2, respectively, and each of the press release and the Letter are incorporated herein by reference. Additional supplemental financial information (the "Supplemental Information") has been posted to the Investor Relations section of the Company's website at investor.eventbrite.com.
In the Letter, the Company also announced that it would be holding a live webcast on May 2, 2024, at 2:00 p.m. Pacific Time to discuss its financial results for the quarter ended March 31, 2024. A copy of the unofficial transcript of the webcast will be available after the webcast on the Investor Relations section of the Company's website at investor.eventbrite.com.
The Company is making reference to non-GAAP financial information in the Letter, the Supplemental Information and the webcast. Reconciliations of these non-GAAP financial measures to their nearest GAAP equivalents are provided in the Letter and the Supplemental Information, as applicable.
The information furnished pursuant to Item 2.02 of this Form 8-K, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such a filing.


Item 9.01    Financial Statements and Exhibits
(d)    Exhibits.

Exhibit No. Description
104.1
Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 2, 2024
EVENTBRITE, INC.
By:
/s/ Julia Hartz
Julia Hartz
Chief Executive Officer


EX-99.1 2 ex991-earningspressrelease.htm EX-99.1 Document

image_0a.jpg

Eventbrite Reports First Quarter 2024 Financial Results
First quarter revenue of $86.3 million grew 11% year-over-year
Marketplace revenue from non-ticketing sources exceeded 13% of first quarter revenue
Consumer reach extended to over 27 million with total ticket volume of 65.8 million in Q1

5/2/2024
SAN FRANCISCO -- (BUSINESS WIRE) -- Eventbrite (NYSE: EB), a global marketplace for shared experiences, reported its financial results for the first quarter ended March 31, 2024. The First Quarter 2024 Shareholder Letter can be found on Eventbrite’s Investor Relations website at https://investor.eventbrite.com.
“Eventbrite delivered solid financial results in the quarter and made great progress in executing our consumer marketplace strategy,” said Julia Hartz, Co-Founder and Chief Executive Officer. We are providing powerful marketing tools to our creators while building on our trusted brand in the live experiences community. We believe we are well positioned to reaccelerate top-line growth and meet our financial goals as the year progresses.”


First Quarter 2024 Highlights
•Net Revenue of $86.3 million, up 11% year over year. Marketplace-related revenue from organizer fees and Eventbrite Ads grew to over 13% of total net revenue.
•Total free and paid ticket volume of 65.8 million tickets across 1.4 million events.
•Gross Margin of 71.0% vs 66.1% a year ago.
•Net loss of $4.5 million compared to net loss of $12.7 million in the same period last year.
•Adjusted EBITDA of $10.4 million, which includes $0.1 million of restructuring charges, Net Loss Margin of (5.2%), and Adjusted EBITDA margin of 12.1%1.

1 For more information on these non-GAAP financial measures, please see "―About non-GAAP financial measures" and the tables under "―Reconciliation of GAAP to non-GAAP financial results" included at the end of this release.



The summary of GAAP and non-GAAP consolidated financial results are in the table below (in thousands, except percentages, unaudited):
Three Months Ended March 31,
2024 2023 % Change
Gross ticket sales $ 853,749  $ 906,433  (6) %
Net revenue $ 86,252  $ 77,914  11  %
Gross profit $ 61,220  $ 51,519  19  %
Gross profit margin 71  % 66  %
Net income (loss) $ (4,490) $ (12,686) (65) %
Net income (loss) margin (5) % (16) %
Adjusted EBITDA (non-GAAP) $ 10,413  $ 2,142  386  %
Adjusted EBITDA margin (non-GAAP) 12  % %

Operating Highlights
The key operating metrics of our business are summarized below (in thousands, except average ticket value, unaudited):
Three Months Ended March 31,
2024 2023 % Change
Total tickets 65,820  74,232  (11) %
Paid tickets 21,216  23,178  (8) %
Total events 1,393  1,523  (9) %
Paid events 524  533  (2) %
Total creators 345  381  (9) %
Paid creators 170  172  (1) %
Average ticket value (ATV) $ 40.24  $ 39.14  %
Total ticket buyers 27,650  31,593  (12) %




Business Outlook
The company expects second quarter 2024 revenue to be in the range of $84 to $87 million and $360 million to $371 million for fiscal year 2024. Adjusted EBITDA margin is expected to be in the low- to mid-teens for the full year 2024, excluding the impact of restructuring costs, reserve adjustments, and other items.




Earnings Webcast Information
Event: Eventbrite First Quarter 2024 Earnings Conference Call
Date: Thursday, May 2, 2024
Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)
Live Webcast Site: https://investor.eventbrite.com
An archived webcast of the conference call will be accessible on Eventbrite’s Investor Relations page, https://investor.eventbrite.com.
About Eventbrite
Eventbrite is a global events marketplace that serves event creators and event-goers in nearly 180 countries. Since its inception, Eventbrite has been at the center of the experience economy, transforming how people organize and attend events. The company was founded by Julia Hartz, Kevin Hartz and Renaud Visage, with a vision to build a self-service platform that would make it possible for anyone to create and sell tickets to live experiences. With over 300 million tickets distributed for over 5 million events in 2023, Eventbrite is where people worldwide discover new things to do or new ways to do more of what they love. Eventbrite has also earned industry recognition as a top employer with special designations that include a coveted spot on Fast Company’s prestigious The World’s 50 Most Innovative Companies and Fast Company’s Brands That Matter lists, the Great Place to Work® Award in the U.S., and Inc.'s Best-Led Companies honor. Learn more at www.eventbrite.com.
Eventbrite Investor Relations
investors@eventbrite.com




Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding the future performance of Eventbrite, Inc. and its consolidated subsidiaries (the “Company”); the Company’s business model and investments to support growth, including the impact on results; the Company’s expectations regarding the development of its platform and products; the Company’s long-term growth strategy, creator growth, pursuit of profitability, and value creation; the Company’s expectations with respect to its operating model; and the Company’s expectations described under “Business Outlook” above. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “appears,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, plans, or intentions. Such statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause the Company’s actual results, performance, or achievements to differ materially from results expressed or implied in this press release, including those more fully described in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Investors are cautioned not to place undue reliance on these statements. Actual results could differ materially from those expressed or implied. All forward-looking statements are based on information and estimates available to the Company at the time of this release, and are not guarantees of future performance, and reported results should not be considered as an indication of future performance. Except as required by law, the Company assumes no obligation to update any of the statements in this press release.
Disclaimer Regarding Ticketing, Creator and Event Metrics
This press release includes certain measures related to our ticketing business, such as paid tickets, paid creators, and paid events. We believe that the use of these metrics is helpful to our investors as these metrics are used by management in assessing the health of our business and our operating performance. These metrics are based on what we believe to be reasonable estimates for the applicable period of measurement. There are inherent challenges in measuring these metrics, and we regularly review and may adjust our processes for calculating our internal metrics to improve their accuracy. You should not consider these metrics in isolation or as substitutes for analysis of our results of operations as reported under GAAP.





















Condensed Consolidated Balance Sheets
(in thousands; unaudited)
March 31, 2024 December 31, 2023
Assets
Current assets
Cash and cash equivalents $ 579,940  $ 489,200 
Funds receivable 35,290  48,773 
Short-term investments, at amortized cost 113,703  153,746 
Accounts receivable, net 3,314  2,814 
Creator signing fees, net 651  634 
Creator advances, net 5,626  2,804 
Prepaid expenses and other current assets 11,276  13,880 
Total current assets 749,800  711,851 
Creator signing fees, noncurrent 1,282  1,303 
Property and equipment, net 10,989  9,384 
Operating lease right-of-use assets 1,100  177 
Goodwill 174,388  174,388 
Acquired intangible assets, net 11,223  13,314 
Other assets 3,375  2,913 
Total assets $ 952,157  $ 913,330 
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable, creators $ 356,863  $ 303,436 
Accounts payable, trade 651  1,821 
Chargebacks and refunds reserve 8,718  8,088 
Accrued compensation and benefits 8,746  17,522 
Accrued taxes 7,136  8,796 
Operating lease liabilities 1,937  1,523 
Other accrued liabilities 19,505  16,425 
Total current liabilities 403,556  357,611 
Accrued taxes, noncurrent 4,362  4,526 
Operating lease liabilities, noncurrent 1,922  1,768 
Long-term debt 358,194  357,668 
Total liabilities 768,034  721,573 
Stockholders’ equity
Common stock
Additional paid-in capital 1,019,101  1,007,190 
Treasury stock at cost (15,055) — 
Accumulated deficit (819,924) (815,434)
Total stockholders’ equity 184,123  191,757 
Total liabilities and stockholders’ equity $ 952,157  $ 913,330 




Condensed Consolidated Statement of Operations
(in thousands, except share and per share amounts; unaudited)

Three Months Ended March 31,
2024 2023
Net revenue $ 86,252  $ 77,914 
Cost of net revenue 25,032  26,395 
Gross profit 61,220  51,519 
Operating expenses:
Product development 26,684  26,564 
Sales, marketing and support 20,869  17,060 
General and administrative 21,237  21,718 
Total operating expenses 68,790  65,342 
Loss from operations (7,570) (13,823)
Interest income 7,407  5,453 
Interest expense (2,800) (2,752)
Other income (expense), net (1,253) (953)
Loss before income taxes (4,216) (12,075)
Income tax provision 274  611 
Net loss $ (4,490) $ (12,686)
Net loss per share, basic and diluted $ (0.05) $ (0.13)
Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted 99,109  99,503 




Condensed Consolidated Statements of Cash Flows
(in thousands; unaudited)

Three Months Ended March 31,
2024 2023
Cash flows from operating activities
Net loss $ (4,490) $ (12,686)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization 3,594  3,531 
Stock-based compensation expense 13,962  12,094 
Amortization of debt discount and issuance costs 526  498 
Unrealized (gain) loss on foreign currency exchange (1,222) (1,133)
Accretion on short-term investments (1,877) (1,552)
Non-cash operating lease expenses 133  1,875 
Amortization of creator signing fees 194  210 
Changes related to creator advances, creator signing fees, and allowance for credit losses 423  (727)
Provision for chargebacks and refunds 5,046  4,717 
Other 155  314 
Changes in operating assets and liabilities
Accounts receivable (899) (543)
Funds receivable 13,668  17,835 
Creator signing fees and creator advances (3,036) 665 
Prepaid expenses and other assets 2,142  (237)
Accounts payable, creators 52,002  57,699 
Accounts payable (1,151) (125)
Chargebacks and refunds reserve (4,416) (4,621)
Accrued compensation and benefits (8,776) 142 
Accrued taxes (2,020) (4,580)
Operating lease liabilities (488) (1,058)
Other accrued liabilities 2,848 
Net cash provided by operating activities 63,477  75,166 
Cash flows from investing activities
Purchases of short-term investments (84,113) (94,679)
Maturities of short-term investments 126,033  — 
Purchases of property and equipment (316) (286)
Capitalized internal-use software development costs (2,257) (1,484)
Net cash provided by (used in) investing activities 39,347  (96,449)
Cash flows from financing activities
Repurchase of common stock (12,010) — 
Proceeds from exercise of stock options —  463 
Taxes paid related to net share settlement of equity awards (2,612) (1,822)
Principal payments on finance lease obligations —  (1)
Net cash used in financing activities (14,622) (1,360)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,538  1,797 
Net increase in cash, cash equivalents and restricted cash 90,740  (20,846)
Cash, cash equivalents and restricted cash
Beginning of period 489,200  540,174 
End of period $ 579,940  $ 519,328 



Reconciliation of Net Income (Loss) to Adjusted EBITDA and the Calculation of Adjusted EBITDA Margin
(in thousands; unaudited)

Three Months Ended March 31,
2024 2023
Net loss(1)
$ (4,490) $ (12,686)
Add:
Depreciation and amortization 3,594  3,515 
Stock-based compensation 13,962  12,094 
Interest income (7,407) (5,453)
Interest expense 2,800  2,752 
Employer taxes related to employee equity transactions 427  356 
Other (income) expense, net 1,253  953 
Income tax provision (benefit) 274  611 
Adjusted EBITDA $ 10,413  $ 2,142 
Net revenue $ 86,252  $ 77,914 
Adjusted EBITDA margin 12  % %

(1) Net Loss and Adjusted EBITDA includes restructuring and other costs totaling $0.1 million in the first quarter of 2024 and $7.9 million in the first quarter of 2023.




About Non-GAAP Financial Measures
We believe that the use of Adjusted EBITDA and Adjusted EBITDA margin is helpful to our investors in understanding and evaluating our results of operations and useful measures for period-to-period comparisons of our business performance as they are metrics used by management in assessing the health of our business and our operating performance, making operating decisions, and performing strategic planning and annual budgeting. These measures are not prepared in accordance with GAAP and have limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of our results of operations as reported under GAAP. In addition, other companies may not calculate non-GAAP financial measures in the same manner as we calculate them, limiting their usefulness as comparative measures. You are encouraged to evaluate the adjustments and the reasons we consider them appropriate. Some amounts in this press release may not add due to rounding.
Adjusted EBITDA
We calculate Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization, stock-based compensation expense, interest expense, interest income, employer taxes related to employee transactions, other (income) expense net, which consists of foreign exchange rate gains and losses, and income tax provision (benefit). Adjusted EBITDA should not be considered as an alternative to net income (loss) or any other measure of financial performance calculated and presented in accordance with GAAP.
Some of the limitations of Adjusted EBITDA include (i) Adjusted EBITDA does not properly reflect capital spending that occurs off of the income statement or account for future contractual commitments, (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures and (iii) Adjusted EBITDA does not reflect the interest and principal required to service our indebtedness. In evaluating Adjusted EBITDA, you should be aware that in the future we expect to incur expenses similar to the adjustments in this release. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these expenses or any unusual or non-routine items. When evaluating our performance, you should consider Adjusted EBITDA alongside other financial performance measures, including our net income (loss) and other GAAP results.
Adjusted EBITDA Margin
Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net revenue. Because of the limitations described above, you should consider Adjusted EBITDA and Adjusted EBITDA Margin alongside other financial performance measures, including net income (loss), net income (loss) margin and our other GAAP results.


EX-99.2 3 shareholderletterq12024_.htm EX-99.2 shareholderletterq12024_
Shareholder Letter Fo od ie La nd / U SAQ1 2024 May 2, 2024


 
. Net Revenue Paid Tickets Gross Ticket Sales Net Revenue Per Ticket (1) Includes restructuring and other costs totaling $0.1 million in the first quarter. (2) Adjusted EBITDA is a financial measure that is not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). See the section in this letter titled “About Non-GAAP Financial Measures” for information regarding Adjusted EBITDA, including the limitations of non-GAAP measures, and see the end of this letter for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure. Q1 2024 Highlights Net revenue of 86.3 million grew 11% year-over-year. Higher marketplace revenue drove revenue per ticket to $4.07, a 21% increase year-over-year. Consumer reach extended to 27.6 million free and paid ticket buyers and nearly half of all paid tickets were Eventbrite driven. Paid Creators Net Loss (1) Paid Buyers Adjusted EBITDA(1)(2) (1%) Y/Y +65% Y/Y (6%) Y/Y +386% Y/Y 169.5K ($4.5M) 10.3M $10.4M Q1 2024 Q1 2023 $78M $86M +11% Y/Y Q1 2024 Q1 2023 $906M $854M (6%) Y/Y Q1 2024 Q1 2023 23M 21M (8%) Y/Y Q1 2023 Q1 2022 $3.36 $4.07 +21% Y/Y Marketplace revenue, including organizer fees and Eventbrite Ads, grew to 13% of first quarter net revenue. Page 2Eventbrite Q1 2024 Shareholder Letter


 
Dear Eventbrite Shareholder, We continue to make progress on the strategic transformation of Eventbrite, building on the scale of our ticketing platform, and sharpening our focus on consumers to deliver an indispensable marketplace for live events. In the first quarter of 2024, we brought 28 million ticket buyers together with 345,000 creators, issuing nearly 66 million tickets across a vibrant collection of 1.4 million free and paid events. More than $850 million in total ticket value was transacted in the Eventbrite marketplace in the first quarter alone. We are excited about the opportunity to expand on each of these dimensions in the future and are starting to see tangible benefits as we execute our marketplace strategy. . Detroit Auto Show Detroit, MI FoodieLand From Los Angeles and Las Vegas to San Diego and San Jose, more than 1.2 million food lovers have attended FoodieLand’s three-day events across the US since its launch. As well as indulging in the hugely diverse range of cuisines offered, including the very latest food trends, festival attendees also get the chance to enjoy games (food eating competition, anyone?), live entertainment, and shopping from the many small, local vendors, who are at the heart of FoodieLand events. With paid ticket numbers more than doubling from 2021 to last year, Eventbrite has helped drive that growth by generating nearly 20% more tickets through demand driving tactics. Page 3Eventbrite Q1 2024 Shareholder Letter


 
Financial Update Our financial results for the first quarter were consistent with the outlook we shared in February, and we anticipate full-year 2024 revenue and Adjusted EBITDA margins within the ranges established previously. Net revenue was $86.3 million for the quarter, an 11% increase over last year’s first quarter. Revenue per ticket rose 21% year-to-year, reaching a record of $4.07. Paid ticket volume declined 8% year-over-year to 21.2 million in the first quarter as we navigate the evolution in our value proposition, go-to-market strategy, and the introduction of new pricing models for creators. We are focused on actions to improve paid ticket volume growth and are encouraged by early signs of progress. We have accelerated the acquisition of creators in cities and categories where we see the strongest consumer demand, leveraging our expanded sales force to secure in-demand inventory. In addition, we are working with creators to simplify and iterate our pricing models and adjust our sign-up flow to better communicate our value and increase conversion. We’re also making strides in personalization, search and discovery experiences for consumers, and upgrading our mobile app to showcase the most relevant events and drive ticket purchases. We anticipate improvement in year-over-year paid ticket volume comparisons in the second quarter. Marketplace revenue, consisting of organizer fees and subscriptions as well as advertising revenue, rose to $11.4 million in the first quarter, representing approximately 13% of first-quarter revenue compared to 3% in last year’s first quarter. Our revenue take rate (net revenue divided by gross ticket sales) grew to 10.1% in the first quarter compared to 8.6% in last year’s first quarter, an indication of the enhanced value unlocked by our marketplace strategy via improved ticketing monetization and the growth of non-ticketing revenue. With higher revenue per ticket and a larger portion of overall revenue coming from higher-margin marketplace services in the first quarter, gross margin expanded to a new record of 71.0%. Total operating expenses were lower than in the fourth quarter of last year, as we completed the relocation of certain functions to lower-cost locations and managed other costs and expenses prudently. We intend to carefully balance current and future investment against our profitability objectives as we execute the transition to a marketplace. 2,000000 2,214286 2,428571 2,642857 2,857143 3,071429 3,285714 3,500000 Q1 2024 Q1 2023 Q1 2022 Q1 2019 $3.01 $3.09 $3.36 7.0% 7.8% 8.6% 10.1% $4.07 // Net Revenue per Ticket and Take Rate OpEx Investment Profile Q1 2024 31% General & Administrative 39% 30% Product Development Sales & Marketing As reported Page 4Eventbrite Q1 2024 Shareholder Letter


 
Net loss was ($4.5) million in the first quarter compared to a loss of ($12.7) million a year ago, and Adjusted EBITDA was $10.4 million in the first quarter, representing a 12.1% Adjusted EBITDA margin. Available liquidity, which is defined elsewhere in this letter, was $377.7 million at the end of the first quarter, reflecting approximately $15.0 million in share repurchases under the $100 million program authorized by the Board of Directors in March. Marketplace Highlights We seek to win by bringing exciting and unique local events onto our platform, successfully sharing great experiences with eager consumers, and powering ticket purchases that make our marketplace the preferred destination for event creators and consumers. During the first quarter, we attracted 92,000 new creators to our platform, including over 100 creators whose events will likely place them within the top 1-2% of creators in our marketplace based on their historically popular events. Highly popular events – similar to many of those featured throughout this letter – not only bring in additional ticket sales, but they are also strategically valuable to our marketplace, adding richness and relevance to our inventory and helping to attract new consumers and repeat buyers. High visibility events and creators Bar Pop Australian event organizers BarPop - AKA ‘creators of fun’ - know how to put on a party. Promising “good times on tap”, tickets for their forthcoming drinks festival, Froth Town, went on sale in April and proved an instant hit. Within the first day, over 2500 tickets were quickly snapped up, with 33% of traffic driven by Eventbrite. Featuring over 75 booze vendors, Perth’s biggest festival of beer, spirits, ciders, seltzers, wines and cocktails takes place at the Claremont Showground over two days in August, but it’s more than just a drinks festival. The frothy fun also features live music, a silent disco, karaoke, a hotdog eating contest, and even a ‘dad bod’ wet t-shirt competition! BarPop’s use of Eventbrite has been a winning partnership, with the platform driving 36% of the organizer’s 316K lifetime paid tickets sold. That total is set to grow even further with tickets for ‘Perth’s favorite summer festival’, Ice Cream Factory, expected to go on sale in August, and the expansion of both Froth Town and Ice Cream Factory into Brisbane planned for this year. Our outbound sales team is targeting strategically valuable event inventory in our top metros – guided by what Eventbrite consumers are looking for – and new bookings in this channel accelerated further in the first quarter to the best pace Page 5Eventbrite Q1 2024 Shareholder Letter


 
in over two years. Renewal rates among large accounts also extended an upward trend in the first quarter, as a result of our investments in product and account management. In our self-sign-on channel, we simplified onboarding and event creation, saving new creators time and increasing their success in publishing a first event. The introduction of Instant Payouts in January and Tap-to-Pay in February reflect our ongoing commitment to helping creators gain financial empowerment. Instant Payouts enables creators to withdraw ticket sales proceeds on demand directly from the user dashboard for a small fee, giving creators faster and more flexible access to funds they often need in order to organize their events. Since the launch, we’ve seen creators of several thousand events take advantage of Instant Payouts. Meanwhile, Tap-to-Pay unlocks the ability for creators to offer the convenience of cashless ticket payment via smartphone, whether at the door or elsewhere, with no additional hardware or set-up cost for the creator. On the consumer side, average monthly active users (MAUs) of the Eventbrite website and mobile apps rose to 85 million in the first quarter, up 2 million from a year ago. We drove double-digit year-to-year growth in users of our discovery experiences, where we deliver curated local and personalized collections of events as consumers search, browse, and shop for things to do. We introduced thematic search filters in the first quarter that now allow consumers to sort events according to moods and tastes, which users have told us evolve from season to season and one visit to the next. Evolving consumer app for greater relevance and personalization: Republic NOLA An anchor of New Orleans’ historic Warehouse district since 2005, Republic NOLA is where locals go to see national and local artists in an intimate space outfitted with beautiful wooden beams and ornate chandeliers. Over the years, the 1,000-capacity club has hosted plenty of big names before (and sometimes after) they broke out, including rappers Post Malone and Lil Wayne, DJs Diplo and Marshmello, and indie rockers Mumford and Sons and Death Cab for Cutie. A staple of the Crescent City’s signature live music scene, Republic really comes alive during the annual New Orleans Jazz Fest with late-night Grateful Dead-themed jam sessions that extend into the wee hours of the morning. Last year, Eventbrite ticketed more than 100 Republic NOLA events, driving 28% of sales for the club’s 22,000-plus paid tickets (up from 16,000 in 2022). The partnership between Eventbrite and Republic NOLA has been so successful over the years that, at the National Independent Venue Association Conference in June, Republic plans to host the Eventbrite-sponsored NIVA Gras party. Page 6Eventbrite Q1 2024 Shareholder Letter


 
To serve young, active event-goers, we are prioritizing the Eventbrite mobile app by adding content, personalization, and convenience to captivate consumers and further fuel our marketplace. Steering consumers to the mobile app for access to their tickets is making the experience easier and more secure for our users, and we plan to elevate the overall mobile experience as the year progresses. Native app MAUs rose 14% year-over-year in the first quarter, and mobile app users purchased, on average, twice as many tickets as users on the web or mobile web in the first quarter. Ticket purchases via our mobile app were up 35% year-to-year, reflecting our strategic emphasis on mobile and consumer preference for the experience we are delivering on the app. To draw increased attention to Eventbrite and our creators’ events, we are engaging TikTok and Instagram influencers in our largest metro markets to inspire their followers to discover and attend unique experiences found on Eventbrite. Our continued success in extending our consumer reach on TiKTok and Instagram reflects our ability to help drive audience demand for creators. Our consumer brand perception studies are starting to show an increased appreciation of Eventbrite as a destination for event discovery, in addition to our strong recognition as a reliable ticketing provider. Meanwhile, more creators tapped into the power of our marketing tools to propel their ticket sales, and an all-time record number of creators promoted events via Eventbrite Ads during the first quarter. In fact, the number of advertisers more than doubled from a year ago, and advertising revenue nearly tripled year-to-year. Eventbrite Ads continues to gain traction within our marketplace as we refine targeting and design to deliver greater efficacy and impact. Compared to a year ago, we’ve reduced cost per click and increased advertisers’ return on ad spend by opening up new placements and optimizing advertisers’ objectives. We now offer Eventbrite Ads in 89 cities, collectively representing roughly 55% of our total ticket volume. During the first quarter, we introduced ad credits to incentivize usage among those we believe will most benefit from Eventbrite Ads. We are introducing tailored guidance to help creators produce their most successful marketing campaigns on Eventbrite. As promoted listings become a more prominent feature, we believe we are shifting creator perception of Eventbrite to embrace our demand generation capabilities. SheJumps In 2007, the first SheJumps event sent 14 women to the peak of the Grand Teton — the largest group of women to scale the Wyoming mountain at that time. Since then, the Salt Lake City-based nonprofit organization has sought to increase the presence of women and girls (both cisgender and transgender) as well as nonbinary people in outdoor activities. To accomplish this goal, SheJumps hosts beginner-friendly outdoor events throughout the U.S. and Canada, including group hikes through parks and rock climbing workshops. SheJumps has ticketed more than 1,000 events via Eventbrite, harnessing the platform's ability to spread awareness of nonprofit programming to a national audience. In 2023, SheJumps moved 5,000 tickets via Eventbrite (2,000 of which were paid), sending women and girls to slopes, trails, and mountains. With a 2024 event calendar that includes a day camp in Alaska and four days of rock climbing in Washington, SheJumps is well on its way to introducing even more people to the great outdoors. Page 7Eventbrite Q1 2024 Shareholder Letter


 
Summary The marketplace transition we are undertaking is significant, and in the midst of these changes, Eventbrite is maintaining balance and taking decisive action. We are increasing investment in strategically-important areas such as inventory acquisition, promoted listings, mobile, and the consumer experience while focusing on protecting Adjusted EBITDA margins and controlling corporate costs. We are also repositioning ourselves to capitalize on Eventbrite’s potent demand-generation capabilities and launching new pricing that drives monetization, while listening to creator and consumer feedback and making adjustments as appropriate. We are encouraged by the progress we are making against the marketplace strategy, and we have confidence that further success will increase Eventbrite’s differentiation and its value. We appreciate your support and look forward to reporting on our progress as the year unfolds. Sincerely, Julia Hartz CEO Lanny Baker CFO Page 8Eventbrite Q1 2024 Shareholder Letter


 
Financial Discussion First Quarter 2024 Results All financial comparisons are on a year-over-year basis unless otherwise noted. Financial statement tables, including the reconciliation of non-GAAP financial measures, can be found at the end of this letter. Net Revenue Net revenue of $86.3 million in the first quarter of 2024 was up 11% compared to a year ago, benefiting from higher ticketing fees, new pricing plans, and advertising services. Net revenue per paid ticket was $4.07 for the first quarter of 2024 compared to $3.36 a year ago, and a revenue take rate of 10.1% was 151 basis points higher. Net revenue per paid ticket included a $0.54 contribution from organizer fees and Eventbrite Ads revenue, which combined for $11.4 million or 13% of total revenue in the quarter. Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023 $78M $79M $82M $88M $86M Paid Ticket Volume Paid ticket volume of 21.2 million in the first quarter of 2024 was down 8% compared to a year ago. Paid ticket volume for events outside of the U.S. represented 40% of total paid tickets in the first quarter, higher than 38% in the year ago period. Accelerating paid ticket growth is our top operating priority and we currently expect improvement in year-to-year comparisons as the year progresses. Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023 23M 23M 23M 24M 21M Page 9Eventbrite Q1 2024 Shareholder Letter


 
Gross Profit Gross profit was $61.2 million in the first quarter of 2024, up 19% year-over-year for a gross margin of 71.0% compared to 66.1% a year ago. The improvement in gross margins reflects the increased contribution of marketplace revenue year-over-year as well as steps taken to reduce cost of revenue. Gross profit in the first quarter includes $0.1 million of restructuring costs. As reported Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023 $54M $56M $61M $61M $52M Operating Expenses Operating expenses were $68.8 million in the first quarter of 2024, compared to $65.3 million in the first quarter of 2023. Operating expenses included $0.1 million in restructuring expenses in the first quarter of 2024 and $7.1 million in restructuring and other non-routine costs in the first quarter of 2023. Product development expenses were $26.7 million for the first quarter, compared to $26.6 million a year ago. Product development expenses in the first quarter of 2023 included $4.6 million related to restructuring costs. Excluding restructuring costs and on a non-GAAP basis, product development expenses grew 21% year-over-year reflecting investment in our consumer marketplace strategy. We expect to continue to invest in consumer and marketplace functionality as we execute our strategy with more moderate quarter-to-quarter growth in the coming periods. Product Development Sales, Marketing & Support General & Administrative Q1 2023 Q1 2024 $22M $17M $27M $65M $21M $21M $27M $69M As reported GAAP Total Operating Expense Page 10Eventbrite Q1 2024 Shareholder Letter


 
Sales, marketing, and support expenses were $20.9 million for the first quarter, compared to $17.1 million a year ago. Sales, marketing, and support expenses in the first quarter of 2023 included $1.3 million related to restructuring costs. Excluding restructuring costs and on a non-GAAP basis, sales, marketing, and support costs grew 33% year-over-year reflecting the expansion of our sales team and greater spending on brand and performance marketing. We expect sales, marketing, and support expense growth to moderate across the remainder of 2024 as the investments made a year ago gain efficiency. General and administrative expenses were $21.2 million in the first quarter, compared to $21.7 million in the first quarter of 2023. General and administrative expenses in the first quarter of 2023 included $2.2 million related to restructuring costs and $1.0 million benefit in other costs. Excluding restructuring costs and non-routine and other items and on a non-GAAP basis, general and administrative expenses were up 3% year-over- year due to an addition to reserves for chargebacks. We continue to focus on managing corporate costs tightly to drive efficiency in these functions. Net Loss ($13M) ($3M) ($4M) ($1M) ($10M) Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023 Net loss was ($4.5) million for the first quarter of 2024 compared with net loss of ($12.7) million in the same period in 2023. Net loss in the first quarter of 2024 included $0.1 million in restructuring costs, and net loss in the first quarter of 2023 included $7.9 million in restructuring costs and non-routine and other items. Page 11Eventbrite Q1 2024 Shareholder Letter


 
Balance Sheet and Cash Flow Cash and cash equivalents totaled $579.9 million at the end of the first quarter of 2024, up from $489.2 million as of December 31, 2023. To evaluate Eventbrite’s liquidity, the company adds funds receivable from ticket sales within the last five business days of the period to creator advances, short-term investments, and cash and cash equivalents, and then reduces the balance by creator payables. On that basis, the company’s available liquidity as of March 31, 2024, was $377.7 million compared to $391.1 million as of December 31, 2023. Long-term debt as of March 31, 2024, was $358.2 million compared to $357.7 million as of December 31, 2023. $2M $11M $10M $9M $6M Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023 Adj. EBITDA impact from non-routine items in Q1 2024 Impact to Net revenue Impact to Cost of net revenue Impact to Operating expense Total Adjusted EBITDA impact Available Liquidity in Q1 2024 Cash and cash equivalents Funds receivable Short term investments Creator advances, net Accounts payable, creators Available liquidity Recorded Amount ($M) Recorded Amount ($M) $579.9 35.3 113.7 5.6 (356.9) - (0.06) (0.08) ($0.14) $377.7 As reported Adjusted EBITDA Adjusted EBITDA of $10.4 million in the first quarter of 2024 included $0.1 million in restructuring costs. Adjusted EBITDA in the first quarter of 2023 was $2.1 million and included $7.9 million in restructuring costs and non-routine and other items. Page 12Eventbrite Q1 2024 Shareholder Letter


 
*We have not provided an outlook for GAAP net income (loss) or GAAP net income (loss) margin or reconciliations of expected Adjusted EBITDA to GAAP net income (loss) or expected Adjusted EBITDA margin to GAAP net income (loss) margin, because GAAP net income (loss) and GAAP net income (loss) margin on a forward-looking basis are not available without unreasonable efforts due to the potential variability and complexity of the items that are excluded from Adjusted EBITDA and Adjusted EBITDA margin, such as share-based compensation expense, foreign exchange loss, and other non-recurring expenses. Business Outlook Based upon current information, we anticipate second quarter 2024 net revenue will be within a range of $84 million to $87 million and full year 2024 net revenue will be within a range of $360 million to $371 million. We expect Adjusted EBITDA margin to be in the low- to mid-teens for the full year 2024, excluding the impact of restructuring costs, reserve adjustments, and other items. Page 13Eventbrite Q1 2024 Shareholder Letter


 
About Eventbrite Eventbrite is a global events marketplace that serves event creators and event-goers in nearly 180 countries. Since its inception, Eventbrite has been at the center of the experience economy, transforming how people organize and attend events. The company was founded by Julia Hartz, Kevin Hartz and Renaud Visage, with a vision to build a self-service platform that would make it possible for anyone to create and sell tickets to live experiences. With over 300 million tickets distributed for over 5 million events in 2023, Eventbrite is where people worldwide discover new things to do or new ways to do more of what they love. Eventbrite has also earned industry recognition as a top employer with special designations that include coveted spots on Fast Company’s prestigious The World’s 50 Most Innovative Companies and Fast Company’s Brands That Matter lists, the Great Place to Work® Award in the U.S., and Inc.'s Best-Led Companies honor. Learn more at www.eventbrite.com. Page 14Eventbrite Q1 2024 Shareholder Letter


 
Forward-Looking Statements This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding the future performance of Eventbrite, Inc. and its consolidated subsidiaries (the “Company”); the Company’s business model and investments to support growth, including the Company’s marketplace strategy and impact on results; the Company’s expectations regarding the development of its marketplace and products; the Company’s long-term growth strategy, growth areas, pursuit of profitability, operating expenses, and investment initiatives and focus areas; the Company’s expectations with respect to its operating model, financial results and trends; and the Company’s expectations described under “Business Outlook” above. In some cases, forward- looking statements can be identified by terms such as “may,” “will,” “appears,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, plans, or intentions. Such statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause the Company’s actual results, performance, or achievements to differ materially from results expressed or implied in this letter, including those more fully described in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Investors are cautioned not to place undue reliance on these statements. Actual results could differ materially from those expressed or implied. All forward-looking statements are based on information and estimates available to the Company at the time of this letter, and are not guarantees of future performance, and reported results should not be considered as an indication of future performance. Except as required by law, the Company assumes no obligation to update any of the statements in this letter. Disclaimer Regarding Ticketing and Creator Metrics This letter includes certain measures related to our ticketing business, such as free and paid tickets, paid creators, paid buyers, monthly active users (MAUs), and Eventbrite Ads. We believe that the use of these metrics is helpful to our investors as these metrics are used by management in assessing the health of our business and our operating performance. These metrics are based on what we believe to be reasonable estimates for the applicable period of measurement. There are inherent challenges in measuring these metrics, and we regularly review and may adjust our processes for calculating our internal metrics to improve their accuracy. You should not consider these metrics in isolation or as substitutes for analysis of our results of operations as reported under GAAP. About Non-GAAP Financial Measures We believe that the use of Adjusted EBITDA, Adjusted EBITDA margin and Available Liquidity is helpful to our investors in understanding and evaluating our results of operations and useful measures for period-to-period comparisons of our business performance as they are metrics used by management in assessing the health of our business and our operating performance, making operating decisions, and performing strategic planning and annual budgeting. These measures are not prepared in accordance with GAAP and have limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of our results of operations as reported under GAAP. In addition, other companies may not calculate non-GAAP financial measures in the same manner as we calculate them, limiting their usefulness as comparative measures. You are encouraged to evaluate the adjustments and the reasons we consider them appropriate. Some amounts in this shareholder letter may not sum due to rounding. Adjusted EBITDA We calculate Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization, stock-based compensation expense, interest expense, interest income, employer taxes related to employee transactions, other (income) expense net, which consists of foreign exchange rate gains and losses, and income tax provision (benefit). Adjusted EBITDA should not be considered as an alternative to net income (loss) or any other measure of financial performance calculated and presented in accordance with GAAP. Some of the limitations of Adjusted EBITDA include (i) Adjusted EBITDA does not properly reflect capital spending that occurs off of the income statement or account for future contractual commitments, (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be Page 15Eventbrite Q1 2024 Shareholder Letter


 
replaced and Adjusted EBITDA does not reflect these capital expenditures and (iii) Adjusted EBITDA does not reflect the interest and principal required to service our indebtedness. In evaluating Adjusted EBITDA, you should be aware that in the future we expect to incur expenses similar to the adjustments in this release. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these expenses or any unusual or non-routine items. When evaluating our performance, you should consider Adjusted EBITDA alongside other financial performance measures, including our net income (loss) and other GAAP results. Adjusted EBITDA Margin Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net revenue. Because of the limitations described above, you should consider Adjusted EBITDA and Adjusted EBITDA Margin alongside other financial performance measures, including net income (loss), net income (loss) margin and our other GAAP results. Available Liquidity To evaluate Eventbrite’s liquidity, the Company adds funds receivable from ticket sales within the last five business days of the period to creator advances, short-term investments, and cash and cash equivalents, and then reduces the balance by funds payable and creator payables. Page 16Eventbrite Q1 2024 Shareholder Letter


 
Net revenue Cost of net revenue(1) Gross profit Operating expenses (1): Product development Sales, marketing and support General and administrative Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Income tax provision Net loss Net loss per share, basic and diluted Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted Cost of net revenue Product development Sales, marketing and support General and administrative Total Condensed Consolidated Statements of Operations ($ in thousands, except per share data)(unaudited) 86,252 25,032 61,220 26,684 20,869 21,237 68,790 (7,570) 7,407 (2,800) (1,253) (4,216) 274 (4,490) (0.05) 99,109 152 5,974 2,433 5,403 13,962 $ $ $ $ 197 4,324 2,228 5,345 12,094 $ $ $ $ $ $ 77,914 26,395 51,519 26,564 17,060 21,718 65,342 (13,823) 5,453 (2,752) (953) (12,075) 611 (12,686) (0.13) 99,503 Three Months Ended March 31, 2024 2023 (1) Includes stock-based compensation as follows: Page 17Eventbrite Q1 2024 Shareholder Letter


 
Assets Current assets Cash and cash equivalents Funds receivable Short-term investments, at amortized cost Accounts receivable, net Creator signing fees, net Creator advances, net Prepaid expenses and other current assets Total current assets Creator signing fees, noncurrent Property and equipment, net Operating lease right-of-use assets Goodwill Acquired intangible assets, net Other assets Total assets Liabilities and Stockholders’ Equity Current liabilities Accounts payable, creators Accounts payable, trade Chargebacks and refunds reserve Accrued compensation and benefits Accrued taxes Operating lease liabilities Other accrued liabilities Total current liabilities Accrued taxes, noncurrent Operating lease liabilities, noncurrent Long-term debt Total liabilities Stockholders’ equity Common stock, at par Additional paid-in capital Treasury stock, at cost Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity 579,940 35,290 113,703 3,314 651 5,626 11,276 749,800 1,282 10,989 1,100 174,388 11,223 3,375 952,157 356,863 651 8,718 8,746 7,136 1,937 19,505 403,556 4,362 1,922 358,194 768,034 1 1,019,101 (15,055) (819,924) 184,123 952,157 $ $ $ $ $ $ $ $ 489,200 48,773 153,746 2,814 634 2,804 13,880 711,851 1,303 9,384 177 174,388 13,314 2,913 913,330 303,436 1,821 8,088 17,522 8,796 1,523 16,425 357,611 4,526 1,768 357,668 721,573 1 1,007,190 — (815,434) 191,757 913,330 Condensed Consolidated Balance Sheets ($ in thousands)(unaudited) March 31, December 31, 2024 2023 Page 18Eventbrite Q1 2024 Shareholder Letter


 
Cash flows from operating activities Net loss Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization Stock-based compensation expense Amortization of debt discount and issuance costs Unrealized (gain) loss on foreign currency exchange Accretion on short-term investments Non-cash operating lease expenses Amortization of creator signing fees Changes related to creator advances, creator signing fees, and allowance for credit losses Provision for chargebacks and refunds Other Changes in operating assets and liabilities, liabilities, net of impact of acquisitions: Accounts receivable Funds receivable Creator signing fees and creator advances Prepaid expenses and other assets Accounts payable, creators Accounts payable, trade Chargebacks and refunds reserve Accrued compensation and benefits Accrued taxes Operating lease liabilities Other accrued liabilities Net cash provided by operating activities Cash flows from investing activities Purchase of short-term investments Maturities of short-term investments Purchases of property and equipment Capitalized internal-use software development costs Net cash provided by (used in) investing activities Cash flows from financing activities Repurchase of common stock Proceeds from exercise of stock options Taxes paid related to net share settlement of equity awards Principal payments on finance lease obligations Net cash used in financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash Beginning of period End of period (4,490) 3,594 13,962 526 (1,222) (1,877) 133 194 423 5,046 155 (899) 13,668 (3,036) 2,142 52,002 (1,151) (4,416) (8,776) (2,020) (488) 7 63,477 (84,113) 126,033 (316) (2,257) 39,347 (12,010) — (2,612) — (14,622) 2,538 90,740 489,200 579,940 $ $ $ $ (12,686) 3,531 12,094 498 (1,133) (1,552) 1,875 210 (727) 4,717 314 (543) 17,835 665 (237) 57,699 (125) (4,621) 142 (4,580) (1,058) 2,848 75,166 (94,679) — (286) (1,484) (96,449) — 463 (1,822) (1) (1,360) 1,797 (20,846) 540,174 519,328 Consolidated Statements of Cash Flows ($ in thousands)(unaudited) Three Months Ended March 31, 2024 2023


 
Net revenue Paid ticket volume Net revenue per paid ticket Net Income (Loss) Add: Depreciation and amortization Stock-based compensation Interest income Interest expense Employer taxes related to employee equity transactions Other (income) expense, net Income tax provision Adjusted EBITDA Adjusted EBITDA Margin Restructuring and other items Included in Net Income (Loss) and Adjusted EBITDA: Restructuring costs Creator upfront reserves release (4,490) 3,594 13,962 (7,407) 2,800 427 1,253 274 10,413 12 135 — 10,548 (12,686) 3,515 12,094 (5,453) 2,752 356 953 611 2,142 3 8,822 (950) 10,014 $ $ $ $ $ $ $ $ Key Operating Metrics and Non-GAAP Financial Measures (In thousands, except per ticket data)(Unaudited) 86,252 21,216 4.07 77,914 23,156 3.36 $ $ $ $ Three Months Ended March 31, 2024 2023 Adjusted EBITDA Reconciliation % % Page 20Eventbrite Q1 2024 Shareholder Letter