EVENTBRITE Reports 19.5% Increase in Revenue for Q2 FY2023 with USD 78.9 Million Total
August 21, 2023
☀️Earnings Overview
On June 30th, 2023, EVENTBRITE ($NYSE:EB) revealed their financial results for the second quarter of the 2023 fiscal year. Total revenue was reported to be at USD 78.9 million, indicating a 19.5% rise from the same period in the prior year. Net income was reported at -2.9 million, a remarkable improvement in comparison to the -20.1 million net loss recorded in the same quarter of the prior year.
Analysis
GoodWhale has conducted an analysis of EVENTBRITE‘s financials and has determined it to be a medium risk investment as far as financial and business aspects are concerned. GoodWhale has detected three risk warnings in the income sheet, balance sheet, and cashflow statement associated with EVENTBRITE. These findings can be viewed on goodwhale.com by signing up for a free account. GoodWhale’s analysis dives into how EVENTBRITE’s financials are performing and looks at key indicators of risk, such as liquidity ratios, leverage, and profitability. Furthermore, GoodWhale’s analysis takes into consideration the macroeconomic environment and consideration of potential future risks. With this comprehensive analysis, GoodWhale has concluded that EVENTBRITE is a medium risk investment. Given the findings that have been uncovered, investors should carefully consider the implications of these risks before investing in EVENTBRITE. It is recommended that investors use GoodWhale’s analysis to make informed decisions regarding their investments. Register on goodwhale.com to view the detailed findings of GoodWhale’s analysis of EVENTBRITE’s financials. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Eventbrite. EVENTBRITE_Reports_19.5_Increase_in_Revenue_for_Q2_FY2023_with_USD_78.9_Million_Total”>More…
| Total Revenues | Net Income | Net Margin |
| 295.84 | -32.72 | -11.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Eventbrite. EVENTBRITE_Reports_19.5_Increase_in_Revenue_for_Q2_FY2023_with_USD_78.9_Million_Total”>More…
| Operations | Investing | Financing |
| 6.03 | -155.36 | -3.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Eventbrite. EVENTBRITE_Reports_19.5_Increase_in_Revenue_for_Q2_FY2023_with_USD_78.9_Million_Total”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 912.91 | 736.5 | 1.76 |
Key Ratios Snapshot
Some of the financial key ratios for Eventbrite are shown below. EVENTBRITE_Reports_19.5_Increase_in_Revenue_for_Q2_FY2023_with_USD_78.9_Million_Total”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.0% | – | -6.9% |
| FCF Margin | ROE | ROA |
| -0.1% | -7.5% | -1.4% |
Peers
Its main competitors are Lightspeed Commerce Inc, Tymlez Group Ltd, Smartsheet Inc.
– Lightspeed Commerce Inc ($TSX:LSPD)
Lightspeed Commerce Inc is a provider of eCommerce solutions. The company offers a suite of tools to help businesses create and manage their online stores. These tools include a website builder, shopping cart software, order management system, and payments processing. Lightspeed also offers a range of services to help businesses with their online marketing and SEO.
The company has a market cap of 3.69B as of 2022 and a Return on Equity of -6.76%. Lightspeed Commerce is headquartered in Montreal, Canada.
– Tymlez Group Ltd ($ASX:TYM)
Tymlez Group Ltd is a provider of enterprise software solutions. Its solutions are used by organizations to develop and deploy blockchain applications. The company has a market cap of 21.77M as of 2022 and a Return on Equity of -82.23%.
The company’s solutions are used by organizations to develop and deploy blockchain applications. The company’s products are used by enterprises to build decentralized applications, smart contracts, and to manage digital assets.
– Smartsheet Inc ($NYSE:SMAR)
Smartsheet Inc is a publicly traded company with a market capitalization of 4.29 billion as of 2022. The company has a negative return on equity of 29.14%. Smartsheet is a provider of enterprise software solutions. The company’s products and services include a cloud-based platform that enables organizations to plan, track, automate, and report on work.
Summary
Eventbrite’s financial results for the second quarter of FY2023 revealed total revenue of USD 78.9 million, an increase of 19.5% compared to the same quarter of the previous year. Net income was USD -2.9 million, a significant improvement compared to the net loss of -20.1 million in the same quarter of the previous year. This positive news is likely to be welcomed by investors, as it suggests that the company’s strategies are paying off. Eventbrite’s current financial performance appears to be strong and it is likely that investors will view this as a positive indicator of future growth potential.
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