Eventbrite Inc.
- Eventbrite, Inc said fourth quarter revenue increased 20% to $71.5 million and the event and ticketing platform operator swung to a net income of $4.0 million from a loss of $16.8 million in the previous year.
In the fourth quarter, about 389,000 event planners created 1.5 million events and sold 77 million event tickets on the platform. Net revenue per paid ticket improved to $2.85 from $2.70 and paid ticket volume was 25.1 million on 14% increase in paid events from the previous year. In the full-year 2022, a total of $3.3 billion of gross ticket sales and 284 million paid and free tickets were transacted on the platform.
Net revenue in the full-year 2022 increased 39% to $260.9 million and net loss shrank to $55.4 million from $137.6 million and diluted loss per share fell to 56 cents from $1.47 in the previous year.
The company forecasted first quarter 2023 revenue in the range of $73 million to $76 million, and full year 2023 revenue between $312 million to $330 million.
The company said it plans to eliminate 8% of roles (about 70 staff) immediately and over the next 10 months relocate 30% of roles to India and Spain as part of the company restructuring.
Mar 1, 2023
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