Eventbrite, Inc. (NYSE:EB) Q3 2023 Results Conference Call November 1, 2023 5:00 PM ET

Company Participants

Katherine Chen - Head, IR

Julia Hartz - Co-Founder, CEO

Lanny Baker - CFO

Conference Call Participants

Justin Patterson - KeyBanc

Cameron Mansson-Perrone - Morgan Stanley

Katherine Chen

Good afternoon, and welcome to Eventbrite's Third Quarter 2023 Earnings Call. Prior to this call, we released our shareholder letter announcing our financial results, which can be found on our website at investor.eventbrite.com.

Before we get started, I would like to remind you that during today's call, we will be making forward-looking statements regarding future events and financial performance. We caution that such statements reflect our best judgment as of today, November 1st, based on factors that are currently known to us and that actual future events or results could differ materially due to several factors, many of which are beyond our control.

For a more detailed discussion of the risks and uncertainties affecting our future results, we refer you to the section titled Forward-Looking Statements in our Shareholder Letter and our filings with the SEC. We undertake no obligation to update any forward-looking statements made during the call to reflect events or circumstances after today or to reflect new information or the occurrence of unanticipated events, except as required by law.

During this call, we will present adjusted EBITDA, adjusted EBITDA margin and available liquidity, which are non-GAAP financial measures. These non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and of limitations as an analytical tool.

You should not consider them in isolation or as a substitute for analysis of our results of operations as reported under GAAP. A reconciliation to the most directly comparable GAAP financial measure is available in our shareholder letter. We encourage you to read our Shareholder Letter, which contains important information about GAAP and non-GAAP results.

And with that, I'll now turn the call over to Julia Hartz, Co-Founder and Chief Executive Officer.

Julia Hartz

Thank you for joining us today. We're pleased to report that our third quarter results were strong with noticeable growth in revenue and profitability year-over-year. Additionally, we have successfully rolled out our marketing and demand generation tools to all Eventbrite creators. I'm excited by the momentum we're building towards our transformation into a two-sided marketplace, which will enable us to create more value in the long-term.

Gross ticket sales reached nearly $900 million in Q3. Year-to-date transactions totaled almost $3 billion for our creators. Take rate is now over 9% and revenue grew 21% year-over-year. When comparing year-to-date 2021, we have more than doubled our adjusted EBITDA margin.