(CelebrityAccess) — Ticketing and event management platform Eventbrite pared losses in the fourth quarter of 2021, reporting a net shortfall of $16.8 during the period.
While the company’s net shortfall was less than the $16.81m loss they reported in Q3 but up sharply year-over-year, growing by 124% from the same period in plague-afflicted 2021.
Revenue for the quarter came in at $59.6 million, up 124% from the fourth quarter of 2020.
Eventbrite attributed their performance to the growth in paid ticket sales, which has doubled to 22.1 million tickets compared to the fourth quarter of 2020 (an arguably questionable metric) and 16.1% from the previous quarter in 2021.
For the fiscal year of 2021, Eventbrite noted that their EBIDTA, (earnings before interest, depreciation, taxes, and amortization) came in a 1 million compared to a shortfall of $134 million last year. Revenue was up by 77% year-over-year and gross margins for Eventbrite were up by 21%.
“Our strong fourth quarter caps off a year of top-notch execution. We supported a surge in demand for live events while delivering meaningful improvements for creators who rely upon our self-service platform. A record 5.4 million events were produced on Eventbrite in 2021, and our innovative solutions helped creators of all types successfully expand their businesses,” said Julia Hartz, Eventbrite co-founder and Chief Executive Officer. “Our strategy will build on this momentum in 2022 to further empower creators, scale our platform, and drive long-term, sustainable growth.”