eventbrite | Confidential & Proprietary 2
Legal Disclaimer Regarding Forward Looking Statements
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding the future performance of Eventbrite, Inc. and its consolidated subsidiaries (the “Company”); the Company’s expected financial results for future periods; future growth and growth strategies in the Company’s businesses and products; the expected impact of the Company’s recent acquisitions; expectations regarding the Company’s ability to migrate customers from acquired platforms; the Company’s expectations regarding scale, profitability, market trends, and the demand for or benefits from its products, product features, and services in the U.S. and in international markets; expectations regarding the amortization of the Ticketfly platform; and statements related to business strategy, plans, and objectives for future operations. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “appears,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause the Company’s actual results, performance, or achievements to differ materially from results expressed or implied in this presentation. Investors are cautioned not to place undue reliance on these statements. Actual results could differ materially from those expressed or implied, and reported results should not be considered as an indication of future performance.
The forward-looking statements contained in this presentation are also subject to additional risks, uncertainties and factors, including those more fully described in the Company’s filings with the Securities and Exchange Commission, including the Company’s final prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on September 20, 2018. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time, including the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018. All forward-looking statements are based on information and estimates available to the Company at the time of this presentation and are not guarantees of future performance. Except as required by law, the Company assumes no obligation to update any of the statements in this presentation.
This presentation includes certain non-GAAP financial measures not based on generally accepted accounting principles. The Company presents non-GAAP financial measures when it believes that the additional information is useful and meaningful to investors. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures used by the Company may differ from the non-GAAP measures used by other companies. See the appendix to this presentation for the reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. This presentation also contains estimates and other information concerning our industry that are based on industry publications, surveys and forecasts. This information involves a number of assumptions and limitations, and we have not independently verified the accuracy or completeness of the information.
eventbrite | Confidential & Proprietary
1. We operate in a large global market that we believe has been historically underserved.
2. We offer a powerful enablement platform to serve our creators' needs.
3. We do this with an efficient business model that has resulted in revenue growth while delivering cash flow.
4. We believe there are many potential levers to drive future growth.
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Key InvestmentHighlights
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700K+CREATORS SERVED IN 2017
~203MPAID & FREE TICKETS IN 2017
~3MEVENTS IN 2017
95%+OF CREATORS SELF SIGN-UP
IN 2017
97%2017 RETENTION
RATE(1)
100%SELF-SERVICE
PLATFORM
$278MTTM NET REVENUE AS
OF 9/30/18
($6M)TTM FREE CASH FLOW
AS OF 9/30/18(2)
61%YOY NET REVENUE
GROWTH
SIGNIFICANT GLOBAL SCALE
HIGHLY EFFICIENT GO-TO-MARKET
STRONG GROWTH AND CASH FLOW
(1) To obtain our retention rate, we determine (i) the gross ticket fees generated by all creators in the year prior to the year of measurement (Prior Year Gross Ticket Fees) and (ii) the gross ticket fees those creators generated in the applicable year of measurement (Measurement Year Gross Ticket Fees). We calculate our retention rate for a measurement period by dividing the Measurement Year Gross Ticket Fees by the Prior Year Gross Ticket Fees.(2) Calculated as cash flow from operating activities less purchases of property and equipment and capitalized internal-use software development costs, over a trailing twelve-month period.See appendix for reconciliation of Non-GAAP free cash flow to GAAP equivalents.
Scale Drives Efficient, Strong Financial Results
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We Serve Mid-Market Creators
STADIUM SCALEEVENTS
PROFESSIONALSPORTS
BLOCKBUSTERCONCERTS
BABY SHOWERS SMALL PERSONALGATHERINGS
BIRTHDAY PARTIES
eventbrite | Confidential & Proprietary
$14BMARKET
OPPORTUNITY(2)
(1) Based on market data prepared in conjunction with a third party.(2) Calculated by multiplying estimated paid tickets in served markets and categories and other potential markets in 2018 pursuant to footnote 1 by Eventbrite’s net revenue per paid ticket during the 6 month period ended June 30, 2018.
This Is a Large Global Opportunity That We Believe Is Underserved
Served Categories = Festivals, Music, Registration and EnduranceGrowth Categories = Tours & Attractions, Movie Theaters, Performing Arts and Spectator SportsMarkets = United States, Canada, United Kingdom, Ireland, Australia, New Zealand, Netherlands, Germany, Spain, Brazil, Argentina and Mexico
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These Creators Manage Multiple Work Streams to Run Their Business
CHAD COLLINSFounder @ Open
World Events
eventbrite | Confidential & Proprietary
The Platform For Any Creator
ACCESS
SERVICE LAYER
Organizer App Consumer App Eventbrite.com Creator Websites
Event Discovery
Email Marketing
Advertising & Promotion
Custom Apps& Operations
Onsite Tools Reporting CRM& Analysis
Orders Events Payments
CORE FEATURES
Security
● Our platform scales with creator needs
● Easy-to-use platform with robust capabilities allowing creators to get selling tickets within minutes
● A broad array of tools to solve creators’ business problems
● Built on a service-oriented architecture that supports secure, native transactions
● 99.99% uptime over the last six years
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End-to-End Product Solution for Creators
Create Event Event Listing Creator Websites Check In AnalyzeDistribution
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Consumer Experience
Discover on Eventbrite
Discover on Distribution
Ticket Purchase Post Event EmailFollow Creator
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Eventbrite’s Core Platform Flexes to Meet Creator Needs
EVENT CREATE & MANAGE
DISCOVERY CHECKOUT REPORTING ONSITE TOOLS
100+ Additional Features
CORE PLATFORM FEATURES
EMAIL MARKETING ADVERTISING & PROMO
CRM & ANALYSIS CUSTOM APPS & OPERATIONS
Modularity
● Core capabilities built as independent components and solutions to allow efficient modifications.
● New capabilities easily added without disturbing the functionality of the existing platform.
● Fuels rapid product development
Extensible
● Our platform extends to integrate third parties, enabling creators to seamlessly access to best-in-class partners.
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Our Product Is Enhanced by Our Partner Ecosystem Called Spectrum
Advertising & Promotion
CRM & Finance
Distribution Email Marketing
Fundraising Marketing Tools
Mobile Apps & Event Ops
eventbrite | Confidential & Proprietary
Global Footprint in 170+ Countries in 2017
● Platform enhancements helped drive our revenue from outside of the United States, which grew from 18% to 30% from 2012 to 2017
● Eventbrite is fully localized in 17 countries
● We support 19 payment methods globally
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Eventbrite office locations
eventbrite | Confidential & Proprietary
Eventbrite Music Exemplifies Platform Modularity
● In November 2018, we launched Eventbrite Music
● Build upon our single platform, this roll out includes 10+ new features for music creators
● Benefits include:
○ Enhanced marketing and distribution capabilities
○ Streamlined checkout experience
○ Mobile-first technology
○ Experienced team dedicated to the music industry
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Solutions Tailored To Creators Needs
*Payment processing of 2.5%. Note: United States pricing as of November 2018.
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Creator Success Stories
OPEN WORLD EVENTSChad Collins - Founder
Joined Eventbrite in June 2013 and has scaled to over 250K tickets on our platform, a 61% CAGR. They rely on the Eventbrite Organizer App to get real-time insights on past and future events.
SEA CREATURESNaz Kabir - Managing Director & Lead Producer
Joined Eventbrite in March 2018 after using the product in a previous role. Sea Creatures has over 75 events in 2018 in three cities. They quickly integrated with eight Spectrum partners to enhance their experience.
PIANO FIGHTDan Williams, Duncan Wold, Kevin Find, Rob Ready - Founders
Joined Eventbrite in December 2014 and has scaled to over 130K tickets on our platform, a 149% CAGR. They report saving up to 40 hours a week with our open API.
eventbrite | Confidential & Proprietary
1. We empower creators’ success by streamlining their user experience, allowing them to easily sign themselves up and begin creating their events without training.
2. Our powerful platform has integrated the components needed to seamlessly plan, promote and produce live events, reducing friction and costs, and allowing creators to focus their energy on producing successful events.
3. Our platform offers creators compelling, real-time analytics about multiple dimensions of an event, allowing them to make decisions that directly impact attendance, revenue, profitability and attendee experience.
4. Through our quick and secure registration and payments processing capabilities, attendees have come to trust the Eventbrite purchase experience.
5. Creators benefit from our platform’s global consumer audience, global search engine prominence and deep integrations with over 50 global distribution partners.
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We Succeed When OurCreatorsSucceed
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EFFICIENT CREATOR ACQUISITION
COST ADVANTAGE IN OPERATIONS
POWERFULRETENTION
LOTS OF WAYS TO GROW
Our Business Model
(1) To obtain our retention rate, we determine (i) the gross ticket fees generated by all creators in the year prior to the year of measurement (Prior Year Gross Ticket Fees) and (ii) the gross ticket fees those creators generated in the applicable year of measurement (Measurement Year Gross Ticket Fees). We calculate our retention rate for a measurement year by dividing the Measurement Year Gross Ticket Fees by the Prior Year Gross Ticket Fees. We calculate retention rate on an annual basis only.
Our seamless user experience attracts creators to our platform organically, with over 95% of creators signing themselves
up for Eventbrite in 2017.
Our highly-automated, cloud-based platform allows us to manage our
operating and support costs, freeing up capital and other resources to dedicate to enhancing our platform and growing our
business.
When creators enjoy success on Eventbrite, they continue to use our
platform. In 2017, our retention rate was 97%.(1)
We believe there are many opportunities for growth in the fragmented event management market, and we have designed our business model and
platform to take advantage of these opportunities by ensuring we can support the addition of new event categories and
countries for ticketing, as well as new revenue-generating solutions beyond
ticketing.
eventbrite | Confidential & Proprietary
COUNTRIES CATEGORIES COMPLEMENTARY SERVICES CONSUMER
NEAR TERM INTERMEDIATE TERM LONG TERM
We plan to expand into new countries and categories.
We intend to develop complementary services for
creators, pulling new capabilities onto our technical platform.
We plan to empower our global audience of ticket buyers by
introducing relevant products and services.
Future Growth Levers
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Scale and Efficiency Fuels Our Growth
MORE EVENTSThese creators then grow their businesses,
adding more events over time.
MORE ATTENDEESThese creators attract attendees to their events,
creating a large, engaged global audience.
PLATFORM INTELLIGENCE AND LEARNINGWe learn from this activity, allowing us to
target new product development in a way that maximizes future growth.
EFFICIENT CREATOR ACQUISITIONWe efficiently acquire creators across our self
sign-on and sales channels.
GREATER PLATFORM AWARENESSCreators, events and attendees all increase
awareness of our platform.
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Financial Highlights
Net Revenue Adjusted EBITDA(1)
(1) Calculated as net loss plus depreciation and amortization, stock-based compensation, interest expense, change in fair value of redeemable convertible preferred stock warrant liability, gain on extinguishment of promissory note, direct and indirect acquisition related costs, other income (expense), net and income tax provision (benefit), over net revenue.See appendix for reconciliation of Non-GAAP adjusted EBITDA to the most directly comparable GAAP financial measure.
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Financial Highlights
Net Revenue Adjusted EBITDA(1)
(1) Calculated as net loss plus depreciation and amortization, stock-based compensation, interest expense, change in fair value of redeemable convertible preferred stock warrant liability, gain on extinguishment of promissory note, direct and indirect acquisition related costs, other income (expense), net and income tax provision (benefit), over net revenue.See appendix for reconciliation of Non-GAAP adjusted EBITDA to the most directly comparable GAAP financial measure.
eventbrite | Confidential & Proprietary
Fueled by a Global Workforce
14global Britelings
1,000+ 5offices creative hubs
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eventbrite | Confidential & Proprietary
Appendix
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eventbrite | Confidential & Proprietary
Adjusted EBITDA Reconciliation
In thousands Q3 ‘17 Q4 ‘17 Q1 ‘18 Q2 ‘18 Q3 ‘18
Net income (loss) ($11,857) ($18,344) $9,023 ($24,603) ($35,516)
Add:
Depreciation and amortization 5,090 8,367 8,202 8,580 8,830
Stock-based compensation 1,946 5,151 2,860 5,248 15,049
Interest expense 1,674 2,830 2,372 3,190 3,300
Change in fair value of redeemable convertible
preferred stock warrant liability1,404 796 1,321 4,750 3,520
Gain on extinguishment of promissory note - - (16,340) - 17,173
Direct and indirect acquisition related costs(1) 4,406 606 823 622 389
Other income (expense), net ($1,606) 1 163 3,013 (1,414)
Income tax provision (benefit) ($40) 82 370 430 (117)
Adjusted EBITDA $1,017 ($511) $8,794 $1,230 $11,214
25(1) Direct and indirect acquisition-related costs consist primarily of transaction and transition related fees and expenses, including legal, accounting, tax and other professional fees as well as personnel-related costs such as severance and retention bonuses for completed, pending and attempted acquisitions.
eventbrite | Confidential & Proprietary
Adjusted EBITDA Reconciliation
Year Ended December 31
In thousands 2016 2017
Net income (loss) ($40,392) ($38,547)
Add:
Depreciation and amortization 7,639 19,418
Stock-based compensation 8,531 10,858
Interest expense 3,513 6,462
Change in fair value of redeemable convertible
preferred stock warrant liability- 2,200
Gain on extinguishment of promissory note - -
Direct and indirect acquisition related costs(1) 1,292 7,337
Other income (expense), net 1,695 (3,509)
Income tax provision (benefit) 131 (13)
Adjusted EBITDA ($17,591) $4,206
26(1) Direct and indirect acquisition-related costs consist primarily of transaction and transition related fees and expenses, including legal, accounting, tax and other professional fees as well as personnel-related costs such as severance and retention bonuses for completed, pending and attempted acquisitions.
eventbrite | Confidential & Proprietary
Free Cash Flow Reconciliation
Twelve Months Ended December 31 Twelve Months Ended September 30
In thousands 2016 2017 2017 2018
Net cash provided by operating activities $2,785 $29,821 $42,794 $6,148
Less:
Purchases of property and equipment and
capitalized internal-use software development
costs
(8,466) (8,678) (8,414) (12,369)
Free cash flow ($5,681) $21,143 $34,380 ($6,221)
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