Eventbrite, Inc.

Q3 net revenue was $71.7 million, down 8% year over year. Paid ticket volume totaled $19.1 million, down 3% year over year, a 400 basis point improvement from Q2's 7% decline. Gross margin was 67.9%, down 60 basis points year over year; adjusted EBITDA was $8.4 million, up 58% year over year, with an 11.7% margin; net income was $6.4 million versus a net loss of $3.8 million last year. Operating expenses were $49.6 million, down 20% year over year, and cash, cash equivalents and restricted cash ended at $511 million. For Q4, Eventbrite expects net revenue of $71.5 million to $74.5 million and adjusted EBITDA margin of 8% to 9%; for FY2025, it expects net revenue of $290 million to $293 million and adjusted EBITDA margin of 8% to 9%. Management said it expects monthly year-over-year paid ticket volume growth within the first few months of 2026 and quarterly year-over-year growth for paid tickets, ticketing revenue, and total net revenue by Q2 2026.

Julia Hartz said the company is moving from rebuilding to laying the groundwork for growth, with 2026 initiatives focused on premium tools for larger creators, AI-driven improvements to creator success, consumer personalization, and global expansion. She emphasized that the business has made real progress in creator retention, new creator acquisition, and marketplace engagement, and she framed the cost reductions as structural, creating room to reinvest where Eventbrite has clear advantages. Her tone was constructive and confident, with repeated emphasis on discipline and a path to renewed growth and margin expansion in 2026.

Anand Gandhi highlighted that Q3 results were in line with revenue guidance and above expectations on profitability. He cited $71.7 million of revenue, $19.1 million of paid ticket volume, 67.9% gross margin, $8.4 million of adjusted EBITDA, and $49.6 million of operating expenses; he also noted $511 million of cash, cash equivalents and restricted cash and reduced total debt to $175 million after repurchasing $125 million of 2026 converts. He said the company plans to retire the remaining $30 million of 2025 converts this December and the remaining $88 million of 2026 converts by next September, leaving the $60 million term loan as the only debt outstanding. On the outlook, he pointed to a modest mix headwind from smaller creators and guided Q4 and FY2025 revenue and adjusted EBITDA margin as noted above.

Analysts focused on how much Eventbrite should keep investing to support a 2026 return to growth, and Anand said the company is balancing disciplined OpEx reduction with selective reinvestment in areas like performance marketing and product features that can drive growth. Another question asked whether GenAI changes the pace of product innovation; Julia said AI is being applied across premium creator tools, marketing performance, discovery/personalization, and global expansion, and she pointed to over 200% ROAS on Eventbrite Ads for its largest creators. Cameron Mansson-Perrone also asked about the FTC-driven ticketing industry debate, and Julia said Eventbrite’s strategy remains centered on transparent pricing, fair access, and premium creator tools, regardless of legal outcomes. On gross margin, Anand said sequential improvement should continue modestly as ads become a larger share of revenue, though the company did not quantify basis-point improvement.