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Eventbrite Posts Big Losses in First COVID-Impacted Earnings Report, Reveals Three-Tiered Refund Plan

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Eventbrite is carrying about $293 million in exposure from advance payouts to the creators on the system, official with the San Francisco-based ticketing company disclosed Monday (May 11) in its Q1 earnings report, sharing new details on plans to refund ticket holders and detailing the impact of the live music shut down on their bottom line.

The top line numbers for the quarter were brutal as nearly every public event on its system had to be postponed or canceled, leading to a $146.5 million net loss for the quarter, down 489.66% from the previous quarter, equaling a $1.71 per share loss.

The losses included $113.7 million of chargebacks and reserve increases and a $76.5 million increase in reserves “in anticipation of potential future

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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