Eventbrite reported strong growth in its 2023 second quarter financial reporting, claiming revenue of $78.9 million, a 20% growth year-over-year on a constant currency basis. It saw strong demand drive a record 33 million ticket buyers over the quarter, which was its eighth consecutive to show a positive Adjusted EBITDA.
“We reached another post-pandemic sales peak, significantly improved our adjusted EBITDA profitability, and helped a record number of buyers get tickets to events in the second quarter,” said co-founder and CEO Julia Hartz. “For both creators and event seekers, the Eventbrite experience has become more intuitive, seamless, and personalized, driven by our commitment to enhance the customer experience. In the second half of the year, we will continue to deliver innovative marketing and promotion tools to creators and showcase the best events to experience-seeking audiences around the world.”
Company stock (NYSE: EB) saw a bump on the positive report, which saw it beat EPS estimates by 11 cents and revenue estimates as well. The news pushed its stock to a 52-week high of $11.87 on Monday. It has traded at above $10/share since early July, a benchmark it hadn’t seen in almost a year of trading, falling as low as $5.30/share.
One of the standout achievements during this quarter was the record 33 million ticket buyers, reflecting the robust consumer demand for live experiences. Eventbrite’s vast global reach, serving event creators and attendees in nearly 180 countries, has solidified its position as a pivotal player in the experience economy.
“I’m proud of how we’ve grown our core ticketing business efficiently, while investing in our capacity to drive more demand towards event in our marketplace,” Hartz said on the earnings call.
More details regarding Eventbrite’s financial performance in the recent quarter are available here in their shareholder letter (PDF opens in new window)
Last Updated on August 8, 2023