The following is a summary of the Eventbrite, Inc. (EB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Eventbrite reported Q3 revenue of $77.8 million, exceeding their outlook range but down 5% year-over-year.

• Gross profit was $53.3 million with a gross margin of 68.5%, slightly up from 68.3% a year ago.

• Net loss was reduced to $3.8 million compared to a net loss of $9.9 million in Q3 2023.

• Adjusted EBITDA was $5.3 million, and excluding severance costs, it would have been $10.8 million.

Business Progress:

• New creator acquisition is accelerating post pricing changes, contributing to marketplace stabilization.

• Successful implementation of the win-back campaign and increased ticketing from returned creators.

• Expanded the free tier allowing unlimited event publications which are showing a positive impact.

• Launched new product capabilities, like the timed entry feature, and focusing on a mobile app upgrade to enhance consumer experience.

• Strategic focus on transforming into a consumer-centric brand and building a managed marketplace.

Opportunities:

• The expansion into new event categories and enhancements made to the platform are attracting both new creators and consumers, which will potentially drive higher revenue and strengthen the marketplace.

• Positive response to strategic partnerships, such as with TikTok, offers a significant opportunity to extend their reach and marketability.

Risks:

• Ongoing ticket volume headwinds and the decline in the total number of paid creators indicate potential challenges in growing the ticketing business.

• Uncertainties in effectively converting new and existing free tier users to monetized, paying creators could affect long-term revenue growth.

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