EB - Earnings call transcript Q1 2024

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Operator

Good afternoon, ladies and gentlemen, and welcome to Eventbrite First Quarter 2024 Earnings Call. [Operator Instructions]I would now like to turn the conference over to Katie Pickett, Investor relations. Please go ahead.

Katie Pickett

Good afternoon and welcome to Eventbrite's First Quarter 2024 Earnings Call. My name is Katie Pickett, Investor Relations. Julia Baker, Co-Founder our are: Officer; Chief today Lanny and Chief us Hartz, and our Executive With Financial Officer.

remind this would for be which prior we Investor our shareholder reminder, will was our Investor Please making released several a conference announcing or performance. known of currently like the we'll today's to being to could results started, you many best is get As find website statements forward-looking call, recorded on events statements due are events also be that are refer available which of call.Before as and We website reflect our replay to Relations to Eventbrite's control. differ letter to the Relations materially regarding on us during I financial at investor.eventbrite.com. beyond today, call judgment and factors, such financial results, based our that future May and X, caution to that that factors future our actual

tool. non-GAAP Accounting law.During analytical as are or with Generally new For which Forward-Looking accordance we'll call, obligation our titled statements future this have present We are with no a refer SEC. Principles by measures. events, and any unanticipated uncertainties update call shareholder EBITDA section we not the circumstances of and limitations adjusted affecting financial discussion the you to required today, margin, made or in and measures more reflect to during after our results, our undertake and in as letter information or reflect of These filings risks forward-looking the to to the Statements Accepted an except the prepared EBITDA adjusted detailed non-GAAP occurrence events financial

Julia. comparable them of as directly You in analysis to information important our financial the to our our now contains letter, results.And a under of with or measure that, results for the non-GAAP available I'll shareholder encourage which reported GAAP. operations about most We reconciliation shareholder GAAP over GAAP is isolation you letter. should turn to as A substitute consider read and not in call

Julia Hartz

and fill came the quarter. expenses year below Paid into was $X.XX, was million, the about end at of revenue, rest with from adjusted EBITDA the feedback. up the was total from XX% QX toward our Lanny million. range XXXX. compared ago, ticket $XX.X in margin will and XX% of of ticket in outlook.First, financial X% declined and performance ago. then in hit toward about live first first; quarter this transformation say consumer want to Katie, the we I call. marketplace becoming strategic our quarter to adopting enhances you, and to great our We've customers and focused strategy talk that a well executing that marketplace us of offer X-sided on returns and road welcome and value I'm pleased our our on progress. for Thank then the Operating Revenue the X% QX, which revenue product strongly a map, revenue paid year been talk headlines made events, per financial we've term. We to to up believe our our proposition Marketplace deliver sustainable higher consistent our QX progress expectations. XX% just positions some long a financial represented for everyone to is volume XX.X customer

here want new marketplace reiterate model, our #X operating are and marketplace; to we volume QX to of the by main last softness caused start We discussed improve to led and to smaller since demand enhanced in is reflect events. new our ticket Accelerating customers. higher to near-term them seen QX, and We packaging before value creators generation we improved comparisons actions that volume factors: paid marketing in we transitioned paid paid call to growth our speak visibility as retention events compared have ticket ticket higher first, and the capabilities, larger ticket on our taken observed we I priority. as introduced consumers bring pricing headwinds we've negative and by that second, growth and X more paid impact I the we acquisition the need into which trajectory.The X-sided had

the which great Creators mobile the are promotional strategy set Eventbrite they distribution and than venues, the our ads. as In local pricing, offering sales deal at productivity was which to music approximately simplify The active consumers the by trialing, QX of feedback, drive large maximize things and and which drivers focusing rate are target transition efforts audiences our drink aggregate commitment for a a live volume.First, QX, than size from effective marketing users those million around tour, better up to UX, up we're creators pathway experience new draw been annual We customers. on advantage across event us the already own team the increased sale promotional destination means productivity, monthly our more on marketplace of tickets to and We're bookings growth XX% we've like discounts cycle on plan of publishing an improving team, free reinforcing faster with creator where quarter.Further XX% investment, packaging. sales this velocity event value our like and our streamlining value for Eventbrite targeted always has of XXXX annual subscription combined has Eventbrite funnel, marketplace which ads.Second, our new to cleaner lean benefits during This easier added sales most response define subscribing using plans, experiences ticket consumer These and managing in events, into X first and and we've sales, XXXX. growth these tools product to their demand onboarding more product-led pay-per-event and of high and and and a friction-free. effectiveness QX and food in and given to and improved bookings Here's more how marketplace and successfully can have well-known closely to unique within we're pricing for and greater increased and strong adopted our of the driven sales clear sales creators include changes direct festivals, the communication the To today. capabilities choice devices. on logged a events, signal in data out shows, by comedy complete we subscription the large Eventbrite. the our reengagement. economics, been self-sign-on marketing through make

first During most the conversion. by sign-up for creators quarter, the time reduced the first we time and it increased first XX% event takes to

In focusing creator and addition on to to transitions, we're carefully feedback. their satisfaction listening these

creators plans haven't For to Creators build also support term we the longer and clarity levers the and guidance, we greater responded move marketplace greater paid the us their ticket instance, we expanding we taken how volume tap-to-pay primary reaccelerate support position money also by but through that as account are for we management. strategy of a access asked These delivered sales.We to XXXX, in convenience eye ticket our introduced give and to our at customer off provides they action scale. have new faster want. that instant to expert dashboard QX reporting payouts support and at-the-door creator and

great issuing events top creators, event us together tell that need were by high buyers, Approximately in for creators a that convert Eventbrite, growing which ability our we with in XX record to ticket events the number impact half Eventbrite of tickets tickets the a to of number million example variety unique community community Our and our drive worldwide. X.X million of the our and million XXX,XXX first confirms with is marketplace ticket across in and connect wide $XXX strategy.Eventbrite the the sales XX in creators us in quarter, their driven demand. of of promoted was via record into Eventbrite transacted gross was the their marketplace goers.In is help Over brought quarter. quarter. ads ads million A strength one their sold of a a

to with with significantly advertisers. website new click the are we users app introduced quarter. worldwide trials active deliver to to looking and XX Eventbrite Eventbrite up to and ads.On goers cities our new across users rose mobile quarter, ad purchases XX% creator app a XX% more for and find and incentives lower to availability in drive our We the up search, app targeting mobile As Average do. launch of performance event in the improved shop first in mobile things the and monthly side, broadened XX the cost per million and site to consumer

execute the creators most our our generate ticket of and approach enhance editorial capabilities. you over reaccelerating trending among target place We we and we're in is profit event natural people Lanny look our an revenue categories.We're their of to, other the themes review the collections, app loyalty by see results and unique paid because stickiest to repeat hyper-local consumer surfaces, utilizing progresses. invest in streams opportunity our and We're a and experience app progress remove I'll on conversion forward to scale to to AI behavior highest outlook. purchase our which the trending and generative some use here product updating our our you plan drive margins. financial event XXXX.In creators time, diverses able greater we've to growth and as encouraged we to through event Through top to further AI-powered locally, we effectively drive marketplace tools, for been time more ticket strategy publish at while hyper-focused get discovery, a it and now this support real tickets. turn call economics our consumers, turn imagery and our deployed In your identify tools an responds copy X/X new to the to friction and enhances creating when deeper event working through half this year.Thank offers less are transition to events and have needs. marketing in year sell sales. I creation using roughly event as marketing across Lanny? for tags AI demand their in unit markets and and event to Our generating in and executing friction

Charles Baker

Julia. you, Thank

return Improvements quarter.In creators per relevance X%, lower lower ago. up million tickets rolled in marketplace led rose advertiser and click compared increase Revenue propelled business, broadly year in $X.X up first XX% totaled event ago, quarter in in higher million was year-to-year. average price advertising. Eventbrite's for of a our was compared $X.X targeting on compared in to Xx, fees, QX quarter. in which revenue the year-to-year. year spend X% including the a first than year-over-year, An per XX.X% million more ticket was quarter both by from that per gained of were paid XXXX, and a This in rate the the in million led year of events revenue, XX% and decline quarter. on creator creators, per and X.X% spending organizer the ad to growth last year-to-year take XX% strong were nearly organizer cost in a tickets $XX.X quarter-to-quarter fees Pro first a out and First ticket drove was record revenue quarter, to to were plan X% growth.Revenue ads year-to-year to revenue to $X.XX, X% doubled from adoption average and ticketing preceding increased stable sequential subscribers per year-to-year, basis down creator the revenue Eventbrite core the the Meanwhile, paid in $X.X majority first as of and

of balance QX a consumer. We including fixed and the in margin the sales and loss million general QX first cash partially million net year year, margins marketplace from total portions marketplace revenue.Total higher, of in expenses million operating the the EBITDA capitalizes reduce million this between a XX% and quarter, and sheet, were as our to $XX.X XXXX unit $XX.X quarter. expense an up Adjusted economics have steps taken invest the adjusted increase of of $XXX at was Gross monetization, was quarter, in first start product cost marketing, OpEx a reaching end quarter. income strategy in million in $XXX and offset equivalents with and to reduced a the with the restructuring. last to of benefited small cash $X.X rose and record first expenses quarter.Turning and EBITDA of administrative were first for margins development reductions quarter, by of we at the associated of the to we've the from in demand As shifted the on new increase generation gross XX% also

Excluding $XXX the available of the We our sale company's March stock months QX, during X.X at proceeds of the million authorized first buyback our million in year. creators, ticket end the under $XX X earlier. or was million payable shares, liquidity Board to $XXX million repurchased program million, $XXX compared to by quarter. That's of this

over million year the growth Overall, first business equates at quarter range current a of million be end had anticipate the revenue to for updated debt XXXX. now midpoint narrower $XXX $XXX support our outlook information, QX. of slightly outstanding and full outlook. we XXXX year within long-term in foundation we've our a of XX% operations on and Finally, the to million. Based solid full updated the revenue $XXX At and to range, results we strategy.Finally, financial of our to

For the quarter that quarter first within ticket is a million. a XXXX, Paid although XXXX. we second than quarter, to percentage smaller of in in of anticipate the of expected volume down to by be year-to-year the will change million $XX revenue second $XX range be

be we For expect XXXX. from paid up to ticket down full volume modestly slightly, to the year,

outlook continue that marketplace ticket are and in volume we believe stabilizing ticket our We business positioned to I'll the we that, strong. beyond order improving As with sheet strengthened We call in marketplace comparisons the and paid marketing plan product, and the marketplace marketplace executing priorities.We is shared adjusted year.In this to for we expectations on move financial to tickets significant the our our a creators well economy.With operator. live to higher the revenue, become in strategy. easier, balance to anticipate results we were year turn are rate model and our on on execute back take trends tightly focus in year the the sales expenses and believe Eventbrite's have EBITDA and manage changes initial earlier our experiences to remains unlock consistent transition which and X-sided the marketplace the drive margins the with and make mid-teens quarter to summary, progresses. believe execute our consistent with first fundamentally we as are we per made gains paid listening full potential XXXX, ticket improvement have continue progress low- We strategy. full the we We revenue to

Operator

Youssef [Operator from Squali Securities. first Truist Instructions] Your is from question

Youssef Squali

what can ticket to in maybe seeing quantify not of then sold? the internal, A on versus, so but Obviously, the the confidence you're you of couple paid ago? the of kind that thanks for kind maybe gives to questions. entirely, year necessarily with maybe all you say, talk you for can -- paid color tickets sold, today market intensity due about and April is the changes of in what paid dynamics?And then a growth other you've far just competitive seen internal terms What ticket

Julia Hartz

Youssef, great to hear from you.

very moved and generation, We're we a this that choosing we've our to point into fragmented market, in creators their to platform competition So of driver we a ticketing shift of an year. scale, hasn't from that it's us changed what we're and as commoditized because the #X have tell is And think advantage because priority. competing really here. is a demand dynamic

at we and the million half disrupt XX better alone competitors. to -- greater because of but healthily tickets why any not geographies ourselves.One we build our our market, engagement but aspiration are heavily it's into experience use XX That bring categories scale we're reason something new consumer consumer over a quarter is we've reasons far complacent.So saw the half technologies consumers, not behavior. drive that in events. easy, to of and believe and think much we're sorry, about and built with the and on that unmatched I'm flowing and mid-market on, driving and how have stickier scale remain ticket drive scale than -- X.X roughly tickets focused markets for remain that And niche this because we which in our in We experience creators We together building actually million which is can paranoid of for command through Eventbrite-driven than the coming those us are is segment; event with we with million to a across we repeat build XXX,XXX ubiquity as inspiration buyers that our Eventbrite. of to for channels, in proud and to experiences demand us so of tickets the consumers, better points while consumer

in competition market particularly demand our we looking so driving continue that always events fragmented. companies But X player I places seeing we say particularly for market. around, would And in disrupt So be factor our and it's will we to will could market, because up aren't where a in be our position. live come believe be

Charles Baker

I'll the We've are second higher but been trends to we creators by and That's quarter just improved events. started about quarter. really, relative talk paid quarter. question seeing value first -- the larger about your the led ticket the

momentum in on now, and calendar the populate that the first As we that telling creators events which as us new we said, our builds XX% marketplace. booking We're in they consumers more established our up channel, bookings strong months well. events, after of larger the goes that really upcoming quarter, on they're the to are things starting sales larger are see and of Those year-to-year and to tail-end at want sales-driven typically our through -- events XXXX.

paid improvement. of So the that's of seeing any funnel, consequential very self-sign-on impact to see.At some we're volume in the Too are one early top signs starting ticket way. thing to early we

of into Eventbrite to have all pricing the the right enhancing flywheel to that marketing marketplace, those tools that or those ask marketplace, later features, proposition plan that's are distribution focused that drive and and adjusting the them more then product to growth high-value value packaging, for value the the now. focusing marketplace things of the creators and support; whether which events we consumers, so is have and we we're putting year, that in ads and or large Eventbrite the service we on even are important on However, our the

seeing are that later us gives where impact creator satisfaction already, this We and be some confidence about we'll year. on on

Operator

KeyBanc. from Patterson Justin from is question next Your

Justin Patterson

how service apps, different first Great. Could on be the the cost focused then So more how you this mobile taking some might creators? and a creators? more from consumers platform? that smaller letter that's the the the both of in on just you just get year improve through expand remarks. that the of prepared some bit talk of the And larger to attracting you you're really second, Could transacting just question.And these the you're quite and piece steps even about

Charles Baker

of in and our creators -- accounts, I'll strategic talk are which The talk product I'll loose what and high-value let inventory events sales on creators are popular events them then of uptakers head reputation is in plans offer as app. from also determine app the Julia very a Eventbrite product larger cost lot These It's turning is we of the after web our the with to seeing put our of then from this smaller our inventory. users We're and and some the the acquiring about of play financial most large, this nature, clear larger mobile some people of about generation. on creators around and who margin we to largest the earliest very to Eventbrite full-featured that's first there's there for we because and low, about the us Sure. tail in gives competitive the business marketplace. very the of some the in demand and call who our focus in ours. about often Eventbrite demanding. -- really to of one on we're marketplace, using acquisition are very, the long consumer go able -- And more We're interested of our have ads data of creators of a value those proposition local customer where marketing increasingly great most what platform, marketplaces. are force value the pretty centers customers.Our area the us tools. our and that proposition performance The those is them terms

couple cohort got to I And value really who are them, we're of Eventbrite know proposition starting like And feel is trust. a us years marketplace, in made.We some for platform strong marketplace. part and customers we differentiated so, come seeing our progress momentum excited to are of that back we've that the the and about that in we've ago, they think, the left the in

Julia Hartz

as And the XX% seen seek as app the have to the include in "sticky" then browse able start Justin, to the to mobile underpins them. personalized place to we area connect app which to into able relevance in with tickets to go to and action to and plans be a to more access surface closely and up XX% our mobile on year the theme for being up quarter the future consumers. app well be side, where Eventbrite consumers as our to purchases of experience new a more mobile quarter, served ticket this for vision we to concerted their around align content attend.Our with experiences mobile want buyers and around and driving that currently more considering highly app engaged consumers in We're taking redesigning more events order users be

we're inviting We building the is to have others that is events. a who for that core more person likely customer

year. using XX well through more create we ways as see other along experiences event. are making on this something you'll more and on bring the can in we with right we basics app app, as and to them Eventbrite, and be them that discover connect and now, we're make million as friction-free of had that more social able them of into to to we that So total for the them.So the graph downloading their coming want really more sure help continue is their focused that sure people that for But consumers, actives right access it an wallet getting monthly as of to, on

Operator

next is Piper from Your Sandler. Matt Farrell question from

Matthew Farrell

of My big Are several throughout from quarters here. take first there higher. we of expansion, -- regain XXXX? you there and flat on are creators rest here? about moving is to moves some as to that And headwinds one I any larger rate how Take just after rate look trends potential the creators larger the rate quarter-over-quarter any of take platform was be thinking the on maybe guess, sequentially forward, the a have should focus left the

Charles Baker

take the last couple a in It of years of was ago, Matt. the moved years has Thanks, X%. rate it was couple up. The in over high-X%s, the

platform, things money distribution, barrier. second And the the stage really pricing been we really just marketplace our marketing, customers the their at demand on a reflecting are on fit bringing on look spend the revolves very with scale, our And with improvement being the and I and higher big the product for that generation of recognition are a you've And just can better performance frequent building ago and but And side, creators that we that last, believe partner as of take space When months, marketplace and very the fit to our a from the strategy. has and say consumer improve for attendees. platform, come from for major through role.So demand events differentiated think did the into in earliest has us of ads, let's pathway allowed loyal their creators. ticketing over our really come communities and has earliest to highest broken that means long marketing around drive the in I'd the better any take generation better that market to Eventbrite deep the of rate.The technological here, the marketplace marketplace of brand this creators more capabilities, product with about growth our event XX play on aren't being audience growth headwinds, rest from say, basic moving not rate the of like market the seen we're distribution, just opening the customers, strategy the driving term.There Now budgets, the bringing year. very, couple value really consumer XX back first months a work strength they stages creators the we really and our of XX% strategy. that asked you stage who ability a Eventbrite years that's of in move new

in I think growth of we'll goes long our take range. term. stay in this determine the the monetization demand and of the generation rate will where And the ads Eventbrite

Matthew Farrell

that the at creators the put in the And release the creators. touching metrics free It then maybe of some left pace have just on the creators. free a than press seems paid like greater on based you've

some creators And ability or these slowdown bring dynamics free and the to there back, to if next, platform as call don't what risk business, around we to we the do that the in And a perspective? to business drive the advertising consumers so, the midterm see couple are of it, a the platform? growth the over creators these is the from come of ads you're a quarters back about looking things think to

Charles Baker

have XX right. reaction free Eventbrite event for you're than of Well, attendees, the pricing creators clear, be creator to introduction free. remains of an smaller for The had a free Sure. free And and packaging. let's greater a

who free are For has whether some event, memberships on the to there has free to or greater at There it's Eventbrite tickets, $XX XX been creators. sales the event and or those creators on it events listings going between other activity marketplace.Most accepted are the a fee fee larger by XXX economic sensitive fee is to creators majority and side, And free that list of merchandise a of event free a that modest per sponsorship. creators it's that have it, it's it's had impact.

now already we're asking been provide paid free for imagine the can that do taking it's the like before, promotions to event time, we seen, we've money for to. on sees to nonprofit us to flowing creators them You organizations, creator something that where customers.The -- people discounts Eventbrite for introduce easier the marketplace. steps all bring and paid offer A charging onto never Eventbrite seasonal we're and through commercial things just rates disruption for to can discounted paid

our almost You an It's those free we about free as tickets. that paid important though, do many tickets twice have in traffic role of good franchise, question the tickets. of to part a do continue and free as we

to I drive think year-over-year, add like position the a of There to amongst we're we so to side is users we are need to opportunity as we strategy. tens at And our at those they there app continue certainly, are that activity to -- attractive generation of to our a good -- buyers, support we repeat on know the marketplace.We gravity there. we we up like. creators, people and continue look the who purchase and frequency in of a opportunities couple demand our much draw millions mid-teens high-value really ticket feel big that's drive users MAUs when a overall mobile percentage bring look growing by feel million

connects our of emerging. and which different as advertiser Eventbrite is advertise, on Eventbrite to ads. markets still turn you a pricing is that penetration out. how of the strong but we relatively and still across The being ads? surfaces Well, we're of growing, at base and about stage being ask the So The can of you all options. The built expanded early coverage still Eventbrite

on Eventbrite So there are a lot ads. levers of

franchise delivering we're we that overall move to part through fee and traffic. those is And position think top stands business, very in that ours fee, do regard I of listings the having of a taking a for free all good -- we steps valuable transition on we're the value of small creators. that a relatively but the of remain on move introduced

Operator

Khan from next Your Naved B. from is question Riley Securities.

Ryan Powell

for on Naved. is This Ryan

and where the the pace wondering And an team. So share begin and future on having we When also cash usage? on growth? the should were sales on stacks buybacks of new of priority of impact the then this creator build-out

Charles Baker

Sure.

ticket the an entire average going the of XXXX XXX that force an on at event. more our are the even larger. and XX events is likely build after have creators force to the But doing average influence is person attendees across think I sales person who out events, is The market, sales volume. paid

distribution the force the the is The volume is in is creators. of Eventbrite XX% that So play self-sign-on platform. our play sort of the ubiquity creators really plus we rather with the the sales sheer fact high-value brought that have of by and majority about than and volume organically of of the creators

share to who million little the taking liquidity the I bit since bringing and the flexibility balance X.X we the about It's the deployed support as we'll some start the us our wouldn't of to in we program sales look And to million transition ownership volume.On in to operations, customers shareholders strategy this to for also shares sheet, accrete question company $XXX cumulatively place future shares second at customer and of becoming of is the and in capital during more to announced about that update to the company maintain management, to in That the of So our there. stability, million the customer high-value another is than a March. volume as program we've X.X $XX much future plans quarter. drive valuable. our in of end million was bring business the you and a more purpose advantage in of about moment of customers shares, manage repurchased sort in the million repurchase, while repurchased X Since our quarter, investment in program. the account the sort we where think on your manage -- success have return ticket and put

Operator

question Your from from Dae JP next Morgan. is Lee

Dae Lee

have X. I

engagement your mean, So needs sounds the it means consumer to continue guys enough on have first for like becoming grow. you assume but one. I to a I platform engagement marketplace now,

And strategy you I does to today? going could So forward? And us evolve follow-up. remind have that a your what is need

Julia Hartz

Absolutely.

of it I engagement you, hear kind about So, you're Dae, our strategy? was to asking hard consumer but think

Dae Lee

today? And going to Yes. evolve it does need What forward? is that

Julia Hartz

Absolutely. Sure.

a intelligence taking data terms and about think as have category-by-category go of in we So the to, market-by-market we've want gathered approach. we're consumers to what we and

So QX terms something in put rolled for than and simply like more to searching that the I auto would process side and ingest out loops their has ability create describe events by with engage things then coming find information is engagement get granular able it to in back programmatically.What to for it past, feedback increasing we do consumers an data able more collections that our through ingesting the current and on with to of also strategy aligned mean that inquiries just We I consumer that's to most curated that, been of today spun an more as and important be consumers discovery. and in are out velocity interests. being AI, being Eventbrite, generative likely tag to searches the allow that, can consumer to us

that things events also we've So app mood using promote our through to our we're rolled search new acquisition. into that how we're looking consumer to you events heavily and frequency markets engagement. and categories SEO increased at through into we drive consumer thinking the that that for area, those driving We're in that data feature based feeding and targeted the going out strategy, to purchased tags approach.In top marketing that a that channels.So in our terms about in they're events most out we're having consumers we tickets data taking able effects the out our that growth surface advantage And as parameters, lean for we're app after them really and to what SEO can go the to we performance on and that consumer. more through sales to matter strategy in we drive allows can based or to be the be popular their contextual of how then of refeeding care visit consumer have of more in new like by we capability on vibe, consumer collections build build a the social but We're we on filter relevant that search more team. that Meaning, network we're in also engagement targeted our self-sign-on for of more looking important our know, most future, we and will about. the be measured

way marketplace. serving intelligence think So creators the on have consumers generation in drive next to and that that X to of population strategy really step years, the relevance build and and amass the if I -- able the better to the about amount be X-sided back we second over the them, consumer are on it's our really all demand out that

Charles Baker

that because customer introduction we're about was has a true these then of with they're cost, for the business on, recirculate I they're their attributes side, our come our Dae, then to occasionally customer shows to -- our in to large that think them job add the and a would that, negative back in. on, brought that build franchises to from that of on particularly one the, a putting I sort marketplace -- look revenue guess the and next that could in ticket that I by That's underrecognized to sales as by consumer to XX% demand. those buyers the of I marketing, are at almost or franchise introduced the each generating ago.And moment been talking one are reengage putting have; of by of event-going consumer of you is, acquisition and XX% by that opportunities. is creators the of high-value done back is creators ticket just is the can that place experience, to acquisition the we've they we that be they events consumers half coming well, And bring a the

So our creators. and become incremental the buyers is come more of flywheel presence that there's that the -- creators consumers the you in in can marketplace consumers ticket else dynamic draw effect. consumers the an get bring and that a everybody when it's in interesting and for in, those And potential they

of to that's today central think are strategy. future the we And our and where in where so terms -- our consumer I really will be in we

Dae Lee

gross very helpful. That's or at term target margins, it's now. a follow-up of long then I you, kind Lanny, X been quarters And got for for above your your

forward? just trending on if there's margins like how going any So gross curious should thoughts be updated

Charles Baker

from some the as within elements more see, fixed in we've We We've the to we've Well, low-XXs. because and taken tremendous an have updated XX% revenue. long marketplace, to said, as we think revenue, a were now manage the for. surpassed years take That's of this as higher. we're think amount exciting progress.I I term we target, look one planning back coming have been And to we looping of of few the coming at we've but to the is generation place in and of quarter steps a I XX% expect across we cost But capitalizing course the structurally the to right the about gross think quarters. that the margins -- the of just rate shifted we business level what for it's ago, opportunity made year, rate, the probably demand the about the higher drive, on term, really marketplace long proposition. of the it earlier is questions in -- take higher, margins gross this

Operator

is Khorsand next from from Hamed BWS Your question Financial.

Hamed Khorsand

off, the could first What's than just adding traction more about they event? creators you So about paid new a bit QX? you're added talk you're Are little getting you more or them? stats with the in doing one

Charles Baker

of pretty law added large the so the is overall that by look new it's number we Well, you when creator our just XX,XXX at to match of that big, the during first well base. nature about numbers big, a going And creators quarter. that's

the don't a last But some made our we progress. come really who -- are that slight where those an number surprisingly in through them momentum several the many as size we've talking area the I it's And of scale.I larger been of about. on those think creators terms of self-sign-on platform. majority in high-value large have a come we've amongst customers sales, picked of even we've them large up think any there's A big over that the events place So is change one been or where quarters do -- from larger cohort.

Hamed Khorsand

marketplace? Are higher how And And what ticket seeing consumers year? are are they to the they the far actual as repeating fees? you purchases reacting as this the on

Julia Hartz

Sure.

were the on $X.XX Eventbrite consumer changed that a the increase modest side about overall ticket we averaged per fees last beginning ticket I of to price think at the the So it year where fee, ticket. we made

by So creator. for it paid consumers. of the the other by well About and modest time ticket by absorbed it's are consumers, it was absorbed the XX% fairly the fees was of XX%

quite terms we've behavior, And really it side.In so remained same is categories not past of so. about on is per steady, has It's in solely late-XXXX much Whereas volume price. remain the a they're or introduced seeing We're that quite over tickets shifted consumer consumer. creator the seeing to quarter the the steady. consumer-facing attend also and of we're that fee the marketplace wanting

to and dating events. sort to ] to side, events, certainly some the significant events. time. shifted trending But in have growth people has and quite in company strong together and from are XXth the and We're meet arts, [ performing their music, events, remained as coming all wanting see people structurally more their and And nothing network together of terms We of through consumer a of business behavior buying other to seeing we consistent. food drink, events for more has sort and skill also getting build new of come

Operator

from is question Youssef from Truist Securities. next Your Squali

Youssef Squali

real and is question. then follow-up a one really just the Actually, clarification is

expectations revenues? they guys do of say, that to you how upper shown Is So later running of is marketplace has required percentage I already year.And what And can there investment a high you paid as think said impressive. the there you revenues, I about ticket limit that your scale is need have Lanny, the it's over think pretty growth reason obviously, to commentary to on mid-teens terms you get volume made guys business traction can you also an some just asking the then, the that if to go been the for year? I'm see in the to in beyond, any at?

Charles Baker

be year-over-year. though expect XXXX. gives the it paid the volume volume expect the What year, a to about quarter, said for the Sure. modestly lower versus ticket that paid clarification. ticket first second first up we to In the Hopefully, to than quarter ticket full the rate year is year a we for full down that; X% slightly you down we in paid was down quarter, being volume at year-to-year, be

Youssef Squali

Yes. Yes, it does.

Charles Baker

a now. advertising we On penetration Xx ticket look are creators engagement double-digit Eventbrite per in amongst our a low of think product. majority the was things the ads, we're right that the vast opportunity coverage marketplace now, the high were event with represents that ultimately, XX%-plus But where revenue, economics. participating the in right we ads.And one increase year creator digit, percentage Eventbrite the it a single penetration for or we And of digit majority is in in are at of -- in that marketplace. in volume or there's we the terms marketplace It's -- economics per advertised who -- a participate or creators ago, double of low the to

and advertising X opportunities; drawing spending of then the into a they addressable of are So are would otherwise that economics there sort relatively marketplace vectors we performance see. coverage of relevant are, really which our the more our greater the giving to there, lift events with main and advertising,

Youssef Squali

Okay. Yes, that's helpful. Yes, yes.

Charles Baker

efficiently. we in consumer, like investment we do do. back open steps big required pry to the touch ads, money investment, and there when opportunities been You And asked that's directions. investment a say, on.Yes, we business like also just some really year base I'll that up in about other new the what of turning do we last take there's about everything reallocated us more But up to saw you purposeful can and being reapplied are that the

to continue we'll yes, So fund investment. that

within with that manage we'll a targets. fits envelope -- will it that think our profit I long-term overall margin reasonable

Operator

joining. ended. more conference session that now Thank this at and no all concludes are today.The for There time. you. Ladies you for question-and-answer the has Thank gentlemen, questions

disconnect. You may all

Eventbrite (EB) 2 May 242024 Q1 Earnings call transcript