The numbers posted significantly improved over 2021 figures but fall slightly short of 2019. However, the company notes that fourth-quarter net income includes a $7.0 million reduction in advance payout reserves and a $2.7 million tax credit. Net income was $4.0 million compared to a net loss of $16.8 million in the same period in 2021. New tools, like Ads, are making an impact for creators who rely on Eventbrite to build their audience using our scale and marketplace,” said Julia Hartz, co-founder and CEO. We powered the experience economy with $3.3 billion of ticket sales in 2022 as consumers attended 5 million total events offered by our creators. “Our strong fourth quarter and full year financial results reflect great execution in enabling creator success and growth. ![]() Full-year revenue was $260.9 million, up 39 percent over last year. The company posted fourth-quarter revenue of $71.5 million, up 20 percent compared to the fourth quarter of 2022. The announcement of the restructuring plan preceded Tuesday’s posting of the fourth quarter and year-end financial results. This cost includes $6-12 million for one-time employee termination and relocation costs and $6-8 million for facilities and fixed assets. A reduction in real estate reduction is also part of the cost-cutting measures announced.Įventbrite expects the restructuring plan to run the whole of 2023 and cost $12-20 million. and Argentina to Spain and India, while customer support and operations roles will move outside the U.S. Development roles will move from the U.S. In addition to layoffs, the company will relocate approximately 30 percent of the remaining roles. According to the tech layoff tracking website layoffs.fyi, 120,342 employees have lost their jobs so far in 2023. The restructuring plan approved by the board of directors focuses on reducing operating costs, consolidating talent, and enabling long-term growth.Įventbrite is the latest tech company to resort to layoffs in the face of economic uncertainty. On Monday, ticketing platform Eventbrite said it will eliminate around 8 percent of its current workforce.
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