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Revenue, Ticket Sales Up, But Losses Widen In Q2 For Eventbrite

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(CelebrityAccess) — Ticketing and event platform Eventbrite announced their results for the second fiscal quarter of 2019, reporting strong revenue growth for the quarter.

According to Eventbrite, net revenue for the second quarter grew by 19.6% to $80.8 million, which the company says was driven by ticket sales and add-ons that allow event creators to upsell ancillary or premium offerings to their customers.

Paid tickets were up by 14.9% to 26.5 million for the quarter, driven by Eventbrite’s self sign-on channel, which grew 21.5% for the quarter, the company said.

Gross profit increased by 31.9% year-over-year to $49.7 million for the quarter, while gross margin was 61.5%, up from 55.8% in the second quarter of 2018.

However, Eventbrite still reported an operating loss of 14.5 million for the quarter, up slightly from the $13.2 million operating loss the company reported in Q2 2018.

Eventbrite said that the integration of the Ticketfly brand is nearing completion.

“We’ve made progress on the integration and migration of Ticketfly and announced our intent to have all tickets sold on the Eventbrite platform by October 1, 2019,” Eventbrite said in their shareholder letter.

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