Eventbrite Expects Q2 Revenue Of $84M-$87M (Est $88.606M), Tightens FY24 Range From $359M-$372M To $360M-$371M (Est $366.428M)
Portfolio Pulse from Benzinga Newsdesk
Eventbrite has adjusted its Q2 revenue forecast to $84M-$87M, below the estimated $88.606M, and tightened its FY24 revenue projection to $360M-$371M from a previous range of $359M-$372M, closer to the estimate of $366.428M. The company also expects its adjusted EBITDA margin for FY24 to be in the low- to mid-teens, excluding restructuring costs and other items.
May 02, 2024 | 9:47 pm
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Eventbrite lowers Q2 revenue expectations to $84M-$87M vs. estimates of $88.606M and adjusts FY24 revenue forecast to $360M-$371M, aligning closer to analyst expectations. Adjusted EBITDA margin for FY24 is anticipated to be in the low- to mid-teens.
The downward revision of Eventbrite's Q2 revenue forecast below analyst expectations suggests potential short-term negative sentiment among investors, likely leading to a decrease in stock price. The adjustment in FY24 revenue forecast, although closer to analyst expectations, may not be sufficient to offset the negative impact of the Q2 revision. The expected adjusted EBITDA margin indicates operational efficiency but may not fully mitigate the revenue forecast's short-term negative impact.
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