The case for & against
Bull & Bear analysis
Bearish
Eventbrite, Inc. (NYSE: EB) is a leading online platform for event management and ticketing that connects event creators with audiences globally. Positioned within the growing experience economy, Eventbrite focuses on enhancing its marketplace by improving consumer engagement and creator retention through innovative tools. As a part of the mid-market event industry, Eventbrite has established itself in a competitive landscape, facilitating connections across diverse events, from local gatherings to larger-scale concerts.
Bull says
- ↑Q3 2024 revenue reached $77.8M, surpassing estimates despite a 5% YoY dip
- ↑Eventbrite Ads revenue jumped 35% in Q4 2024, boosting high-margin income
- ↑Win-back campaigns and free tier drove over 13K former creators back
- ↑Operating expenses cut 16% to $55.4M in Q2 2025, improving profitability
- ↑Cash and equivalents of $550M in Q1 2025 support growth investments
- ↑Experience-economy tailwinds fuel rising live-event demand
Bear says
- ↓Q4 2024 revenue declined 13% YoY to $76.5M following organizer-fee removal
- ↓Paid creator count dropped 12% YoY, signaling market share risks
- ↓Net loss of $8.4M in Q4 2024 and margin pressure persist
- ↓Q3 2025 revenue down 8% to $71.7M amid lower ticket volumes
- ↓Growth hinges on Ads and new features adoption to hit targets
- ↓High leverage risk from convertible notes despite $511M cash
Earnings Call · Q3 2024 · Mgmt. Guidance
Updated 09-05-2026neutral
Transcript signals
Bull points
- events per creator increased 3% year over year, while tickets per event declined 5%, as we issued 19.7 million paid tickets in the quarter, down 14% year to year. The average ticket price increased by 3% year to year, to $40.30, and our revenue take rate was 9.8% in the quarter, 60 basis points higher than a year ago. As a result, revenue per ticket was $3.97 in the third quarter, compared to $3.57 a year ago, with the increase in take rate and revenue per ticket coming from the growth of Eventbrite ads and organizer fees.
- We remain committed to buying back up to $50 million in stock this year under our $100 million authorization. We've already completed $39 million in share purchases year to date, reducing shares outstanding by approximately 7% since the start of the year.
- We rolled out this free tier on September 4th, and we expected to see waves of impact to the business.
Bear points
- Ticketing revenue was 11% lower year to year, which was partially offset by a doubling in revenue from organizer fees and Eventbrite ads on a combined basis.
- Net loss was $3.8 million for the third quarter of 2024 compared with a net loss of $9.9 million in the same period in 2023. Net loss in this quarter included $5.4 million in reduction in force costs, as well as a $300,000 loss on debt extinguishment.
- Organizer fees were, as we said before, we expect them to be in the $1 to $2 million in the fourth quarter, and that'll be down from where they were in the third quarter and in the second quarter.
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