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Introduction & Market Context
Eventbrite Inc. (NYSE:EB) released its first quarter 2025 results on May 8, showing early signs of recovery despite ongoing revenue challenges. The event management and ticketing platform, which operates in 180 countries, continues to navigate a transitional period following a disappointing fourth quarter that saw its stock drop nearly 12% after missing earnings expectations.
The company’s stock closed at $2.31 on May 8, up 5.96% from the previous close of $2.18, suggesting some investor optimism about the recovery narrative presented in the quarterly slides. Eventbrite’s current market position represents a significant discount from its 52-week high of $5.92.
Quarterly Performance Highlights
Eventbrite reported Q1 2025 net revenue of $73.8 million, down 14% year-over-year but at the high end of the company’s outlook range. The revenue decline was primarily attributed to a 48% drop in marketplace revenue following the discontinuation of organizer fees, while ticketing revenue decreased by 9%.
As shown in the following chart of quarterly performance metrics, paid tickets reached 19.6 million in Q1 2025, down 7.7% year-over-year, though this represents a 250 basis point improvement from the 10.2% decline seen in Q4 2024:
The company posted a net loss of $6.6 million for the quarter, compared to a $4.5 million loss in the same period last year. Despite the continued losses, Eventbrite maintained its streak of positive Adjusted EBITDA, reporting $4.6 million (6.2% margin) for the quarter, marking its 15th consecutive quarter of positive Adjusted EBITDA.
Operational Improvements
Eventbrite highlighted several operational improvements in its presentation, emphasizing cost discipline and efficiency gains. Operating expenses decreased 14% year-over-year to $59.2 million, marking the company’s lowest quarterly operating expenses since 2022 and its fifth consecutive quarter of reductions.
The following slide illustrates these key operational improvements:
The company’s user engagement metrics showed positive momentum, with average monthly active users (MAUs) increasing 3% year-over-year to 87.6 million. Notably, app MAUs grew 13% following the company’s rebrand and refreshed app, while web MAUs increased by 2%.
As shown in the chart below, this growth in mobile app usage represents a strategic bright spot for Eventbrite:
Financial Position
Eventbrite’s financial position remains stable despite ongoing challenges. The company reported available liquidity of $241 million after repaying $120 million principal of 2025 notes in August 2024, representing a 33% decrease in total debt outstanding year-over-year.
The following chart illustrates the company’s liquidity position:
Stock-based compensation decreased 27% year-over-year to $10 million in Q1 2025, down from $14 million in Q1 2024, reflecting the impact of workforce reductions in 2024 and what the company described as "deliberate equity program management aligned with long-term goals."
The company’s operating expense trend shows consistent improvement over the past five quarters, as illustrated in this chart:
Strategic Initiatives
Eventbrite outlined several strategic initiatives aimed at driving future growth. The company is focusing on increasing strategic inventory by featuring mega events like the Rose Bowl Flea Market and Foodieland to attract larger audiences.
The presentation highlighted the company’s newly redesigned website and app, which aim to elevate event discoverability and improve user experience. Eventbrite reported a 30% increase in advertising revenue year-over-year, indicating progress in monetizing its platform beyond ticketing.
The company emphasized its marketplace flywheel strategy, which focuses on attracting high-quality creators who host popular events, marketing these events effectively, and increasing ticket sales through various tools and features.
Eventbrite is positioning itself as "the indispensable marketplace for live experiences," operating in what it describes as an $80 billion global events gross bookings market, with approximately $23 billion in the global mid-market events segment where Eventbrite primarily competes.
Forward-Looking Statements
For the second quarter of 2025, Eventbrite expects net revenue between $70 million and $73 million with an Adjusted EBITDA margin in the 3% to 4% range. The company attributed the sequential decline to the timing of Easter, delays of some large events into the second half of the year, and typical quarter-to-quarter mix-shift in average ticket prices.
For the full fiscal year 2025, Eventbrite maintained its outlook of net revenue between $295 million and $310 million with an Adjusted EBITDA margin in the mid-single digit percentage range.
As shown in the following slide detailing the company’s business outlook:
Eventbrite’s presentation suggests that while the company continues to face revenue challenges, its focus on operational efficiency, cost discipline, and strategic initiatives is positioning it for potential recovery in the latter half of 2025. Investors will be watching closely to see if the 250 basis point improvement in paid ticket recovery signals the beginning of a sustainable turnaround or merely a temporary reprieve in an ongoing struggle.
Full presentation:
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