Eventbrite net worth has been a topic of interest as it continues to shape the event management industry.
At Ando Money, I delve into Eventbrite’s financial performance, uncovering key revenue sources and profit trends.
Let’s take a closer look at how this company is faring in 2024, and what factors contribute to its financial health.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Eventbrite |
| Full Name | Eventbrite, Inc. |
| Website | eventbrite.com |
| Industry | Event Management & Ticketing |
| Traded as | NYSE: EB |
| ISIN | N/A |
| Founded | 2006 |
| Founders | Julia Hartz, Kevin Hartz, Renaud Visage |
| Country/Territory | United States |
| Headquarters | San Francisco, United States |
| Chief Executive Officer | Julia Hartz |
| Number of Employees | 866 (2023) |
| Market Cap | $0.26 Billion (October 2024) |
| Total Assets | $894.52 million (June 30, 2024) |
| Total Equity | $176.16 million (June 30, 2024) |
| Revenue | $84.6 million (Q2 2024) |
| Net Income | $1.1 million (Q2 2024) |
What is the Net Worth/Market Cap of Eventbrite in 2024?
Eventbrite’s market cap as of October 2024 is approximately $0.26 billion. This positions it uniquely within the event management space, reflecting its financial growth and market stance.
Compared to other companies in the industry, Eventbrite’s market cap might seem modest, but its financial health and strategic moves show potential. Let’s compare it to some related players in this space:
- Eventful
- Cvent
- Ticketmaster
- StubHub
- Bizzabo
- Splash
- Brown Paper Tickets
- Meetup
- Hopin
- Billetto
Interested in knowing how Eventbrite stacks up against the most influential companies worldwide? You might want to check out this list of top-performing companies.
Eventbrite Financial Performance Overview
Key Revenue Sources in Recent Financial Periods
Eventbrite’s primary revenue sources in Q2 2024 amounted to $84.6 million, showing a 7% increase from the previous year.
Marketplace revenue, driven by organizer fees and advertising through Eventbrite Ads, played a crucial role, with marketplace revenues accounting for over 13% of the total net revenue.
Adjustments in pricing and additional services have been fundamental in the transformation of revenue streams.
Ticket Sales and Volume Analysis
Gross ticket sales were $840 million in Q2 2024, with 21.2 million paid tickets issued, reflecting a 9% decrease year-over-year.
Despite this dip in ticket volume, the focus on both free and paid events, totaling 67 million tickets issued for over 1.4 million events, highlights a broad and diverse ticketing portfolio.
Eventbrite continues to adapt to market conditions, making efforts to boost ticket volume through changes in subscription models.
Revenue Per Ticket Trends
Net revenue per paid ticket for Q2 2024 increased to $3.98 from $3.39 in Q2 2023, marking an 18% increase. This growth was influenced by higher organizer fees and the success of Eventbrite Ads.
While paid ticket volume saw a decline, the overall revenue per ticket rose, indicating strategic shifts in monetization that improved the overall profit margin.
Advertising Revenue and Creator Partnerships
Eventbrite’s advertising services have become a significant revenue driver, particularly through Eventbrite Ads.
With a 20% increase in creators using this service between Q1 and Q2 2024, and ad revenue more than doubling year-over-year, these partnerships have proven to be financially advantageous.
Moreover, the collaborations with event creators extend Eventbrite’s reach and diversify its revenue streams, contributing directly to the company’s financial growth.
Revenue by Geographical Segments
Approximately 40% of paid tickets were from international events outside the U.S. in Q2 2024.
While Eventbrite has a strong presence in the U.S., this geographical diversification underlines the company’s potential for global growth.
Each region poses unique challenges and opportunities, with revenue influenced by local market dynamics.
Financial Impact of Strategic Business Decisions
Eventbrite’s introduction of organizer fees and adjustments to pricing models have directly impacted revenue streams and profitability.
While the move affected creator acquisition initially, the company is reintroducing a free tier for creators, aiming to stabilize ticket volume and boost the creator base.
Strategic decisions like partnerships with platforms like TikTok are expected to enhance user engagement and drive more sales.
Gross Profit and Margin Improvements
Gross profit for Q2 2024 stood at $59.9 million, with a gross margin of 70.9%.
The improvement from 68.8% in Q2 2023 reflects increased marketplace contributions and effective cost-reduction measures.
With non-ticketing revenue sources gaining traction, Eventbrite has shown its commitment to enhancing its profit margins.
Marketing and Sales Impact on Financial Growth
Marketing and sales efforts, including increased advertising and consumer-targeted strategies, have significantly impacted Eventbrite’s financials.
In Q2 2024, sales, marketing, and support expenses amounted to $24.5 million, compared to $15.7 million in the previous year.
This growth highlights Eventbrite’s focus on increasing consumer reach and retaining its market presence.
Product Development and Innovation Costs
Product development investment reached $26.1 million in Q2 2024.
These expenses are dedicated to enhancing Eventbrite’s platform and user experience, including introducing new features like timed ticket entry.
Such innovations aim to cater to evolving consumer needs and drive financial growth through increased adoption by event organizers and consumers.
Financial Liquidity and Cash Flow Management
With $575.5 million in cash and cash equivalents as of June 2024, Eventbrite’s liquidity remains strong.
The available liquidity is reported at $353.2 million, ensuring the company maintains a healthy financial position for ongoing operations and strategic investments.
Cash flow management is key for future growth, including potential share repurchases to strengthen shareholder value.
Adjusted EBITDA and Profitability Outlook
Adjusted EBITDA for Q2 2024 was $12.8 million, bolstered by a $4.3 million benefit from a legal settlement.
With continued financial discipline and strategic adjustments, Eventbrite maintains a positive outlook on profitability.
The adjusted EBITDA margin of approximately 10% for the year demonstrates a steady approach to ensuring long-term financial stability.
FAQs About Eventbrite
How does Eventbrite make money?
It generates revenue primarily through ticketing fees and Eventbrite Ads. Organizers pay fees per ticket sold, and advertising services offer additional revenue sources.
What is Eventbrite’s revenue per ticket in 2024?
For Q2 2024, its revenue per paid ticket was $3.98, which is higher than the $3.39 recorded in Q2 2023, driven by marketplace revenues like organizer fees.
How much did Eventbrite’s advertising revenue grow in 2024?
Eventbrite Ads saw a 20% growth in the number of creators using the service between Q1 and Q2 2024, with ad revenue more than doubling compared to the previous year.
What was Eventbrite’s net income for Q2 2024?
It reported a net income of $1.1 million for Q2 2024, which includes the benefit of an $8.2 million legal settlement.
How much cash and cash equivalents does Eventbrite hold?
As of June 30, 2024, it held $575.5 million in cash and cash equivalents, maintaining robust liquidity for financial stability.
Conclusion
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