EB - Eventbrite stock dives 14% over Q2 loss

Eventbrite ( NYSE: EB ) shares plunged over -14% , Friday, after the event management and ticketing website reported larger-than-expected loss per share for second quarter.

Last Thursday, the firm reported net loss of -$20.1M, compared with -$18M in Q1 2022 and -$20.5M in Q2 2021. Adj. EBITDA was $4.7M vs. -$0.3M in Q1 2021, reflecting the company's fourth consecutive quarter of adjusted EBITDA profitability.

Net revenue of $66M rose 43% Y/Y, driven by growth in paid ticket volume and paid events. Revenue was at the high end of the outlook range that the company raised in June and also represented a post-COVID peak.

Paid ticket volume of 21.9M grew 37% Y/Y, reflecting sustained consumer demand and an uptick in larger-sized events. However, average ticket value remained flat year-over-year at $39 due to a stronger U.S. dollar.

Operating expenses grew 21% Y/Y to $56.3M in the quarter, mainly driven by investments made to strengthen and expand product.

Looking ahead, Eventbrite ( EB ) expects consumer demand for live events to remain healthy, but takes a more cautious view of the near-term outlook around creators given the macroeconomic uncertainty that may lead to more friction around staging event. Q3 revenue is projected at $65M to $68M vs. $67.40M consensus .

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