SAN FRANCISCO (CelebrityAccess) — Ticketing and event management platform Eventbrite announced its financial results for the first fiscal quarter of 2024.
According to Eventbrite, revenue for the first quarter of 2024 was up by 11% to $86.2 million. However, Eventbrite still recorded a net loss in Q1 2024 of more than $4.4 million, which is an improvement on last year’s Q1 where the company lost a reported $12.7 million.
Adjusted EBITDA, (earnings before interest, taxes, depreciation, and amortization) was up by more than 385 percent to $10.4 million in Q1 2024, including more than $100,000 in restructuring costs, the company said.
According to Eventbrite, the company shifted more than 65 million tickets during the first quarter, including 21 million paid tickets to more than 1.3 million events. The average value for the paid tickets was just over $40, the company said.
“Eventbrite delivered solid financial results in the quarter and made great progress in executing our consumer marketplace strategy,” said Julia Hartz, Co-Founder and Chief Executive Officer. “We are providing powerful marketing tools to our creators while building on our trusted brand in the live experiences community. We believe we are well positioned to reaccelerate top-line growth and meet our financial goals as the year progresses.”
