Executive Summary

Q4 2024 revenue was $76.5M, at the upper end of the company’s outlook, with gross margin 68.2% and Adjusted EBITDA $6.5M (9% margin); year-over-year declines reflect the exit of organizer fees and lower paid ticket volume, while sequential trends improved versus Q3 .
Management guided FY 2025 revenue to $295–$310M and Q1 2025 revenue to $71–$74M, with mid-single-digit Adjusted EBITDA margins, citing an approximately $20M revenue headwind from eliminating organizer fees and continued recovery in ticketing trends in H2 2025 .
Eventbrite Ads grew 35% YoY in Q4 and 83% for FY 2024, supporting take-rate and monetization as high-value creators adopt more promotion; creator re-engagement improved after reinstating the free tier (Sep) and timed entry functionality .
Wall Street consensus estimates from S&P Global were unavailable due to a data access limit; relative to company guidance, Q4 came in at the high end and FY 2024 Adjusted EBITDA margin target (~10%) was exceeded, offering a positive signal into the transition year of 2025 .

What Went Well and What Went Wrong

What Went Well

Creator acquisition and engagement strengthened following the reintroduction of the free tier; total ticketing volume returned to YoY growth (+2%), with free tickets up 8% YoY and paid ticket trends improving sequentially from Q3 to Q4 .
Eventbrite Ads scaled materially; ads revenue grew 35% YoY in Q4 and 83% for FY 2024, with creators using ads selling 4x more tickets than those who don’t; management emphasized improved targeting and automation plans .
Cost discipline delivered lower operating expenses (Q4 OpEx $60.0M vs $70.6M LY) as workforce actions flowed through; FY 2024 Adjusted EBITDA margin exceeded the ~10% target .
- Quote: “We delivered revenue at the upper end of our outlook range and exceeded our Adjusted EBITDA margin target for fiscal year 2024” — Julia Hartz .

What Went Wrong

Net revenue declined 13% YoY and paid ticket volume fell 10% YoY in Q4; gross margin compressed to 68.2% from 70.1% due to the mix shift away from organizer fee revenue .
Net loss widened to $8.4M (vs $0.9M LY), with EPS of ($0.09) reflecting lower marketplace contribution and higher chargebacks/fraud remediation costs in S&M versus 2023 .
FY 2025 margin guide to mid-single-digits implies year-over-year compression, driven by loss of high-margin organizer fees and reinstatement of annual incentive compensation .

Financial Results

Headline P&L vs Prior Quarters

Metric	Q2 2024	Q3 2024	Q4 2024
Net Revenue ($USD Millions)	$84.551	$77.801	$76.464
Gross Margin (%)	70.9%	68.5%	68.2%
Net Loss Per Share (EPS, $)	$0.01	($0.04)	($0.09)
Adjusted EBITDA Margin (%)	15%	7%	9%

Notes: Q4 revenue reached the high end of company guidance; EPS reflects GAAP net loss including mix shift and cost items .

Year-over-Year (Q4 vs Q4 2023)

Metric	Q4 2023	Q4 2024	YoY Change
Net Revenue ($USD Millions)	$87.764	$76.464	(13%)
Gross Margin (%)	70.1%	68.2%	(190 bps)
Net Loss ($USD Millions)	($0.937)	($8.376)	Widened
Adjusted EBITDA ($USD Millions)	$8.797	$6.525	(26%)

Revenue Mix (Q4 2024)

Component	Q4 2024
Ticketing Revenue ($USD Millions)	$70.4
Marketplace Revenue ($USD Millions)	$6.0
Eventbrite Ads YoY Growth (%)	35%

KPIs and Volumes

KPI	Q2 2024	Q3 2024	Q4 2024
Gross Ticket Sales ($USD Millions)	$840.247	$795.367	$794.197
Total Tickets (Millions)	66.791	64.986	72.035
Paid Tickets (Millions)	21.243	19.736	21.639
Total Events (Thousands)	1.415	1.357	1.352
Paid Creators (Thousands)	177.189	163.185	166.183
Average Ticket Value ($)	39.55	40.30	36.70
Total Ticket Buyers (Thousands)	27,356	26,604	31,477

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Net Revenue ($USD Millions)	Q1 2025	N/A	$71–$74	New
Adjusted EBITDA Margin (%)	Q1 2025	N/A	Mid-single digits	New
Net Revenue ($USD Millions)	FY 2025	N/A	$295–$310	New
Adjusted EBITDA Margin (%)	FY 2025	N/A	Mid-single digits	New
Organizer Fees Impact ($USD Millions)	FY 2025	N/A	~($20) headwind	New

Reference (prior period guidance context): Q3 release guided Q4 2024 revenue to $74–$77M; Q4 actual was $76.5M, high end of range .

Earnings Call Themes & Trends

Topic	Previous Mentions (Q2 2024)	Previous Mentions (Q3 2024)	Current Period (Q4 2024)	Trend
Pricing reset and free tier	Planned pricing changes; revised FY outlook; cost actions to reduce OpEx by $30M	Free tier introduced (Sep); improved creator acquisition; win-back >750k paid tickets since Sep	Continued improvement in creator acquisition and paid trends; total tickets back to growth	Improving
Eventbrite Ads monetization	Marketplace rev >13% of net revenue; building consumer app adoption	Ads penetration rising; 10k creators using Ads monthly	Ads +35% YoY in Q4; 83% FY growth; 4x ticket lift with Ads	Expanding
Timed entry/product innovation	N/A	Timed entry launched; ~400k tickets in beta; strategic inventory focus	Timed entry scaling; Stripe POS integration case (Detroit Auto Show)	Scaling
Consumer app & discovery	Mobile app users growing; discovery experiences emphasized	Reimagined app in beta; local searches +20% YoY	Redesigned app rolling out; curated It-Lists; MAUs up; discovery sales +10% YoY in Q4	Strengthening
Fraud/chargebacks	N/A	Chargebacks/fraud remediation up sharply in Q3 (S&M: $6.8M vs $1.4M LY)	Elevated chargebacks continue; S&M up YoY	Headwind
Capital allocation & debt	N/A	Retired $120M 2025 converts; buybacks ~$39M YTD	Available liquidity $230.3M; balanced approach to maturities vs buybacks ($50M remaining authorization)	Balanced/prudent

Management Commentary

Julia Hartz: “We delivered revenue at the upper end of our outlook range and exceeded our Adjusted EBITDA margin target for fiscal year 2024… With a clear roadmap for 2025 and a disciplined approach to execution, we believe we are well-positioned to drive sustained improvement” .
Julia Hartz on 2025: “We are guiding to a lower revenue range than last year… purely a function of structural revenue mix changes, not a reflection of weakening fundamentals… a year of transition… preparing us to scale efficiently and drive stronger growth in 2026 and beyond” .
Anand Gandhi on margin guide: Mid-single-digit FY25 EBITDA margin reflects loss of high-margin organizer fees (~600bps) and reinstated incentive comp (~500bps), plus some deleverage from ticketing; operating leverage expected post-transition .
Julia Hartz on creator re-engagement: “Free ticket volume recovered faster… 25 percentage-point swing from Q3… paid tickets, paid transacting creators, and paid events improved from Q3 to Q4” .
Anand Gandhi on revenue mix: Q4 ticketing revenue $70.4M; marketplace $6.0M; Ads +35% YoY, supporting monetization .

Q&A Highlights

TikTok partnership: native ticket integration is helping discovery; working to streamline conversion by reducing clicks; distribution diversified across Google, Bandsintown, Facebook, Instagram; some partnership slowdown in prior ~60 days but re-accelerating .
EBITDA margin compression drivers: ~600bps from organizer fees removal; ~500bps from reinstating annual bonuses; mid-single-digit margin reflects disciplined cost control amid these headwinds .
Capital allocation: balanced between managing maturities (Dec 2025 notes largely repurchased; attention to Sep 2026 maturities) and completing remaining $50M buyback authorization over time .
Free-to-paid trajectory: free ticket growth is a leading indicator of paid growth; discovery-driven ticket sales up ~10% YoY in Q4; frequent creators returning; timed entry expanding across regions .
Headcount and efficiency: staffing viewed as adequate; growth not dependent on larger teams; focus on reallocating talent to drive operating leverage .
Winning back high-volume creators: targeted sales/service motion, improved tooling (premium email, paid social, Ads), marketplace reach; examples include Elsewhere venue return citing audience reach and discovery .

Estimates Context

Wall Street consensus (S&P Global) for Q4 2024/Q1 2025 was unavailable due to data access limits during retrieval. Values retrieved from S&P Global.
Relative to company guidance, Q4 2024 revenue landed at the high end of the $74–$77M range and FY 2024 Adjusted EBITDA margin target (~10% ex-severance/non-routine) was exceeded, which may necessitate upward adjustments to near-term EBITDA margin assumptions despite FY 2025 mix-related margin compression .

Key Takeaways for Investors

2025 is a transition year: expect lower revenue range ($295–$310M) and mid-single-digit EBITDA margin due to the removal of organizer fees; focus shifts to scaling ticketing and ads monetization into H2 2025 and beyond .
Sequential recovery: paid ticket trends improved from Q3 to Q4 with total tickets returning to growth; free tier supports creator acquisition, a leading indicator for paid volume recovery .
Ads as growth lever: Ads grew 35% YoY in Q4 (83% FY), with 4x ticket lift for adopters; continued targeting/automation and new placements can bolster take-rate and monetization .
Cost discipline intact: OpEx reduced YoY in Q4; FY 2024 margin target exceeded; normalized expense base should drive operating leverage as ticketing growth returns .
Watch fraud/chargebacks: elevated remediation costs remain a headwind in S&M; management highlighted ongoing efforts to mitigate .
Capital allocation: strong liquidity ($230.3M available) and balanced plan across debt maturities (Dec 2025/Sept 2026) and buybacks ($50M remaining authorization) support shareholder returns while preserving flexibility .
Near-term trading lens: expect narrative tied to consumer app launch, TikTok/product conversion gains, creator win-backs, and Ads penetration; stock likely sensitive to evidence of paid ticket re-acceleration and chargeback normalization .

Please see appendices and citations throughout for detailed figures from the Q4 2024 8-K press release/shareholder letter, Q4 earnings call transcript, and prior quarter materials.

Eventbrite, Inc. (EB)·Q4 2024 Earnings Summary