Eventbrite Inc. (NYSE: EB) reported its most recent quarterly results after the markets closed on Monday. It’s worth noting that this is the first time that Eventbrite has reported its results as a public company.
The company said that it had a net loss of $1.24 per share on $73.6 million in revenue in the third quarter. That compared with consensus estimates that called for a net loss of $0.46 per share and revenue of $71.7 million. The same period of last year reportedly had a net loss of $0.61 per share and $50.75 million in revenue.
During the latest quarter, paid tickets grew 32.2% year over year to $23.9 million. These sales were powered by continued growth in Eventbrite’s self sign-on channel and impacts from the anniversary of the Ticketfly acquisition in September 2017. Paid tickets sold on the Eventbrite platform, which excludes tickets sold through the Ticketfly and Ticketea platforms, grew by 24.6%.
Internationally, net revenue grew by 24.3% to $19.9 million. International net revenue increased despite an adverse currency impact in the quarter.
Looking ahead to the fourth quarter, the company expects to see total net revenue in the range of $72.0 million to $74.0 million and adjusted EBITDA of $6.5 million to $8.5 million. Consensus estimates call for a net loss of $0.14 per share and $71.53 million in revenue for the quarter.
CEO Julia Hartz commented in the report:
Our distribution strategy puts the right event in front of the right consumer, at the right time, wherever they are online. We believe that this approach of enabling a seamless purchase experience at natural points of discovery helps us reach new audiences, enables more ticket sales for event creators and improves the experience of finding and accessing live experiences.
Shares of Eventbrite were last seen down about 3% at $30.00, with a consensus analyst price target of $31.60. The stock has a post-IPO range of $24.67 to $40.25.
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