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Eventbrite (EB)
:EB
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Eventbrite
(NYSE:EB)
Rating:58Neutral
Price Target:
$2.50
▲( 16.28% Upside)
Positive Factors
Revenue Performance
Fourth quarter revenue of $76.5 million was at the high end of the guidance range.
Strategic Partnerships
The change in pricing strategy along with the partnership with TikTok has led to event listings, user traffic, and ticket volume rising.
User Growth
Growth in Ads and users suggests potential for improving scale and monetization over time.
Negative Factors
Growth Uncertainty
Growth at Eventbrite remained pressured following its business transition, with slower improving trends than expected.
Profitability Concerns
The reduced level of adjusted EBITDA gives EB little room to generate free cash flow like it did in 2024, creating concern about the Company's ability to deliver after two previous years of transition failures.
Revenue Challenges
Focus for EB shares remains top-line recovery after the adverse reaction to implementing organizer fees, which led to declining revenue.
Eventbrite (EB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$207.12M
Dividend YieldN/A
Average Volume (3M)794.56K
Price to Earnings (P/E)―
Beta (1Y)0.83
Revenue Growth-6.52%
EPS Growth-2.19%
CountryUS
Employees748
SectorTechnology
Sector Strength76
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.07
Shares Outstanding80,242,096
10 Day Avg. Volume940,234
30 Day Avg. Volume794,557
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.38
Price to Sales (P/S)0.00
P/FCF Ratio32.99
Enterprise Value/Market Cap0.30
Enterprise Value/Revenue0.05
Enterprise Value/Gross Profit0.28
Enterprise Value/Ebitda1.16
Forecast
1Y Price Target
$3.20Price Target Upside48.84% Upside
Rating ConsensusHold
Number of Analyst Covering4
Eventbrite Business Overview & Revenue Model
Company DescriptionEventbrite, Inc. operates a self-service ticketing and experience technology platform that serves event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc. in 2009. Eventbrite, Inc. was incorporated in 2008 and is headquartered in San Francisco, California.
How the Company Makes MoneyEventbrite makes money primarily through service fees charged on tickets sold via its platform. When an event organizer sells tickets through Eventbrite, the company takes a percentage of the ticket price as a service fee, which typically includes a per-ticket fee and a percentage of the total ticket cost. In addition to these fees, Eventbrite offers premium packages and additional services for event organizers seeking enhanced features such as custom branding, analytics, and marketing tools. The company also benefits from strategic partnerships with payment processors and other service providers to streamline the ticket purchase process. While the majority of its revenue is generated from ticketing services, Eventbrite also explores opportunities to expand its offerings through partnerships and integrations within the broader event management ecosystem.
Eventbrite Financial Statement Overview
Summary
Eventbrite showcases a mixed financial profile with a strong cash position and healthy gross profit margins but struggles with profitability, as indicated by negative net income and EBIT margins. The balance sheet reflects moderate leverage, while cash management is strong.Income Statement
Eventbrite's financial performance shows moderate stability with challenges in profitability. The company has seen some revenue growth over the years, particularly from 2020 to 2022, but this growth has stalled recently. Gross profit margin is healthy at 69.68% for 2024, indicating efficient cost management. However, the net profit margin is negative at -4.79%, reflecting ongoing profitability challenges. EBIT and EBITDA margins are also negative, highlighting difficulties in achieving positive operational earnings.55
Neutral
Balance Sheet
Eventbrite's balance sheet demonstrates some strengths and weaknesses. The debt-to-equity ratio is 1.43 for 2024, which indicates moderate leverage but potential risk if income does not improve. The equity ratio stands at 22.62%, suggesting a lower proportion of equity financing. Despite these leverage concerns, the company maintains a positive cash position with net debt at -$173 million, evidencing effective cash management.60
Neutral
Cash Flow
The cash flow position of Eventbrite reflects solid management of cash operations despite profitability challenges. Operating cash flow to net income ratio is positive, showing that operating activities generate cash despite net losses. Free cash flow has shown significant improvement over the years, with a growth in free cash flow from the previous year, indicating better cash generation capabilities.65
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 325.07M | 326.13M | 260.93M | 187.13M | 106.01M | Gross Profit |
| 226.56M | 223.00M | 170.18M | 116.84M | 43.68M | EBIT |
| -30.79M | -41.13M | -46.74M | -67.78M | -198.28M | EBITDA |
| 11.68M | 1.44M | -27.94M | -99.85M | -177.60M | Net Income Common Stockholders |
| -15.57M | -26.48M | -55.38M | -139.08M | -224.72M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 441.49M | 642.95M | 623.52M | 634.38M | 505.76M | Total Assets |
| 752.30M | 913.33M | 895.38M | 902.98M | 795.68M | Total Debt |
| 243.17M | 360.96M | 361.74M | 366.39M | 223.09M | Net Debt |
| -173.36M | -128.24M | -177.56M | -267.99M | -282.67M | Total Liabilities |
| 582.07M | 721.57M | 728.82M | 733.08M | 480.11M | Stockholders Equity |
| 170.23M | 191.76M | 166.56M | 169.90M | 315.57M |
| Cash Flow | Free Cash Flow | |||
| 34.97M | 11.85M | 4.16M | 76.55M | -163.17M | Operating Cash Flow |
| 35.57M | 19.02M | 8.61M | 79.08M | -156.89M | Investing Cash Flow |
| 123.92M | -69.33M | -89.50M | -2.53M | -12.66M | Financing Cash Flow |
| -177.47M | -4.91M | -2.08M | 51.18M | 255.04M |
Eventbrite Technical Analysis
Positive
2.15
Price Trends
2.20
Positive
2.71
Negative
2.97
Negative
Market Momentum
<0.01
Positive
51.24
Neutral
12.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EB, the sentiment is Positive. The current price of 2.15 is below the 20-day moving average (MA) of 2.24, below the 50-day MA of 2.20, and below the 200-day MA of 2.97, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 51.24 is Neutral, neither overbought nor oversold. The STOCH value of 12.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EB.
Eventbrite Risk Analysis
Eventbrite disclosed 59 risk factors in its most recent earnings report. Eventbrite reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
We cannot guarantee that our share repurchase program will be utilized to the full value approved or that it will enhance long-term stockholder value. Q4, 2024
Eventbrite Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $192.12M | ― | -10.44% | ― | 7.65% | -96.35% | |
63 Neutral | $201.52M | 30.30 | 13.10% | ― | 12.31% | 187.89% | |
60 Neutral | $11.56B | 10.24 | -7.04% | 2.94% | 7.46% | -10.54% | |
58 Neutral | $207.12M | ― | -9.90% | ― | -6.52% | -2.19% | |
56 Neutral | $242.97M | 2.88 | 35.11% | 1.20% | 3828.94% | 129.01% | |
53 Neutral | $232.34M | ― | -24.47% | ― | -8.39% | 7.79% | |
51 Neutral | $162.25M | ― | -22.66% | ― | -25.43% | -135.09% |
* Technology Sector Average
Performance Comparison
EB
Eventbrite
2.27
-2.75
-54.78%
IMMR
Immersion
7.41
-1.91
-20.49%
CCRD
CoreCard
26.04
13.06
100.62%
SSTI
SoundThinking Inc
14.75
-1.53
-9.40%
ONTF
ON24
5.36
-0.80
-12.99%
SMRT
SmartRent
0.83
-1.74
-67.70%
Eventbrite Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -7.33%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture. Eventbrite achieved revenue and EBITDA targets and saw strong growth in Eventbrite ads and app engagement. However, there were notable challenges, including a decline in net revenue and gross margin, as well as an increase in net loss. The departure of key executives also adds some uncertainty.Q1-2025 Updates
Positive Updates
Revenue and EBITDA Achievement
Eventbrite delivered $73.8 million in revenue, at the high end of their guidance. Adjusted EBITDA was $4.6 million, representing a 6% margin, in line with expectations.
Improvement in Paid Ticket Trends
Paid ticket trends improved for the third consecutive quarter, with a year-over-year decline of 7.7%, showing improvement from the previous quarters.
Strong Growth in Eventbrite Ads
Eventbrite ads revenue increased by 30% year over year, indicating strong growth and adoption among creators.
Consumer Engagement and App Success
The new Eventbrite app showed strong consumer response, with March app installs accelerating, paid tickets from the app up 11%, and total average monthly app users up 13% year over year.
Operating Expense Reduction
Operating expenses were reduced by 14% year over year, reflecting strong financial discipline.
Negative Updates
Decline in Net Revenue
Net revenue of $73.8 million was down 14% year over year, primarily due to the elimination of organizer fees.
Gross Margin Contraction
Gross profit margin decreased from 71% to 67% year over year, largely due to the elimination of higher-margin organizer fees.
Net Loss Increase
Net loss increased to $6.6 million compared to $4.5 million a year ago.
Executive Team Changes
Chief Legal and People Officer, Julia Taylor, and Chief Technology Officer, Vivek Sagi, have decided to leave Eventbrite to pursue new opportunities.
Company Guidance
In the first quarter of 2025, Eventbrite, Inc. delivered a strong performance, with revenue reaching $73.8 million, at the high end of their guidance range of $71 to $74 million. Adjusted EBITDA was reported at $4.6 million, representing a 6% margin, aligning with expectations. Despite a year-over-year decline of 7.7% in paid ticket volume, there was a sequential improvement from the previous quarters. Eventbrite's app saw significant growth, with paid tickets from the app increasing by 11% and average monthly app users rising by 13% year over year. The company also reported a 30% growth in Eventbrite Ads revenue. Operating expenses were reduced by 14% compared to the previous year, maintaining a strong liquidity position with $550 million in cash. Looking forward, the company reaffirmed its full-year 2025 net revenue guidance of $295 to $310 million, with an adjusted EBITDA margin in the mid-single digits.Eventbrite Corporate Events
Executive/Board Changes
Eventbrite CTO Vivek Sagi Announces Resignation
Negative
May 7, 2025
On May 5, 2025, Eventbrite‘s Chief Technology Officer, Vivek Sagi, announced his resignation effective May 16, 2025, to pursue another executive role outside the company. Sagi will assist with the transition of his responsibilities until his departure, which may impact the company’s technological leadership and operational continuity.
Executive/Board Changes
Eventbrite Announces General Counsel Leadership Transition
Neutral
Apr 10, 2025
On April 8, 2025, Eventbrite announced the resignation of Julia Taylor, its General Counsel, effective May 2, 2025. Lisa Gorman, the current Vice President and Deputy General Counsel, will assume the role of General Counsel on the same date, indicating a smooth transition in the company’s legal leadership.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.