eb-20250331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________________________________________

FORM 10-Q

____________________________________________________________________________


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission File Number: 001-38658

_______________________________________________________________________________

EVENTBRITE, INC.

(Exact name of registrant as specified in its charter)

________________________________________________________________________________


Delaware			14-1888467
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)
95 Third Street, 2nd Floor San Francisco, CA 94103 (Address of principal executive offices) (Zip Code) (415) 692-7779 (Registrant's telephone number, including area code) Not applicable (Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading symbol(s)	Name of each exchange on which registered
Class A common stock, $0.00001 par value	EB	New York Stock Exchange LLC

_________________________________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 1, 2025, 80,242,095 shares of Registrant's Class A common stock and 15,647,029 shares of Registrant's Class B common stock were outstanding.

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EVENTBRITE, INC.

TABLE OF CONTENTS



		Page
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS		1

PART I. FINANCIAL INFORMATION
Item 1.	Unaudited Condensed Consolidated Financial Statements	2
	Condensed Consolidated Balance Sheets	2
	Condensed Consolidated Statements of Operations	3
	Condensed Consolidated Statements of Stockholders' Equity	4
	Condensed Consolidated Statements of Cash Flows	5
	Notes to Unaudited Condensed Consolidated Financial Statements	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	27
Item 4.	Controls and Procedures	27

PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	28
Item 1A.	Risk Factors	28
Item 2.	Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities	29
Item 3.	Defaults Upon Senior Securities	29
Item 4.	Mine Safety Disclosures	29
Item 5.	Other Information	29
Item 6.	Exhibits	30
Signatures		31

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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words 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. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements related to our future financial or operational results; our Convertible Notes (as defined below); our future financial performance, including our revenue, costs of revenue and operating expenses; our anticipated growth and growth strategies; our advance payout program; the sufficiency of our cash, cash equivalents and investments to meet our liquidity needs; our ability to successfully defend litigation brought against us and the potential effect of any current litigation on our business, financial position, results of operations or liquidity.

The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors, including those described in the section titled "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024 and this Quarterly Report on Form 10-Q. We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q. You should not rely upon forward-looking statements as predictions of future events.

All forward-looking statements are based on information and estimates available to the Company at the time of this Quarterly Report on Form 10-Q and are not guarantees of future performance. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law.

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PART I. FINANCIAL INFORMATION

Item 1. Unaudited Condensed Consolidated Financial Statements


EVENTBRITE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value amounts and share data) (Unaudited)
	March 31, 2025		December 31, 2024
Assets
Current assets
Cash and cash equivalents	$	502,911	$	416,531
Funds receivable	36,318		37,629
Short-term investments, at amortized cost	—		24,959
Accounts receivable, net	1,350		2,187
Creator signing fees, net	3,375		3,954
Creator advances, net	5,728		3,380
Restricted cash	48,000		48,000
Prepaid expenses and other current assets	17,688		15,856
Total current assets	615,370		552,496

Creator signing fees, net, noncurrent	4,385		3,575
Property and equipment, net	11,418		12,640
Operating lease right-of-use assets	797		823
Goodwill	174,388		174,388
Acquired intangible assets, net	3,149		5,014
Other assets	2,776		3,365
Total assets	$	812,283	$	752,301
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable, creators	$	352,445	$	300,174
Accounts payable, trade	907		1,407
Chargebacks and refunds reserve	10,522		10,315
Accrued compensation and benefits	9,547		4,825
Accrued taxes	5,766		5,932
Current portion of long-term debt	29,837		29,781
Operating lease liabilities	1,801		2,071
Other accrued liabilities	12,139		11,868
Total current liabilities	422,964		366,373
Accrued taxes, noncurrent	4,538		4,278
Operating lease liabilities, noncurrent	226		377
Long-term debt	211,192		210,938
Other liabilities	109		106
Total liabilities	639,029		582,072
Commitments and contingencies (Note 16)
Stockholders’ equity
Preferred stock, $0.00001 par value; 100,000,000 shares authorized, no shares issued or outstanding as of March 31, 2025 and December 31, 2024	—		—
Common stock, $0.00001 par value; 1,100,000,000 shares authorized; 94,634,095 shares issued and outstanding as of March 31, 2025; 94,282,883 shares issued and outstanding as of December 31, 2024	1		1
Treasury stock, at cost; 10,201,720 shares of common stock as of March 31, 2025 and 10,201,720 shares as of December 31, 2024	(50,286)		(50,159)
Additional paid-in capital	1,061,155		1,051,392
Accumulated deficit	(837,616)		(831,005)
Total stockholders’ equity	173,254		170,229
Total liabilities and stockholders’ equity	$	812,283	$	752,301

(See accompanying Notes to Unaudited Condensed Consolidated Financial Statements)

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EVENTBRITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(Unaudited)
	Three Months Ended March 31,
	2025		2024
Net revenue	$	73,833	$	86,252
Cost of net revenue	24,406		25,032
Gross profit	49,427		61,220
Operating expenses
Product development	20,937		26,684
Sales, marketing and support	21,523		20,869
General and administrative	16,691		21,237
Total operating expenses	59,151		68,790
Loss from operations	(9,724)		(7,570)
Interest income	3,754		7,407
Interest expense	(1,080)		(2,800)

Other income (expense), net	1,207		(1,253)
Loss before income taxes	(5,843)		(4,216)
Income tax provision	768		274
Net loss	$	(6,611)	$	(4,490)
Net loss per share, basic and diluted	$	(0.07)	$	(0.05)
Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted	94,745		99,109

(See accompanying Notes to Unaudited Condensed Consolidated Financial Statements)

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EVENTBRITE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(in thousands, except share data)

(Unaudited)


	Common Stock-Class A			Common Stock-Class B			Treasury Stock			Additional Paid-In Capital		Accumulated Deficit		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount		Shares	Amount
Balance at December 31, 2024	78,635,854	$	1	15,647,029	$	—	10,201,720	$	(50,159)	$	1,051,392	$	(831,005)	$	170,229
Issuance of restricted stock awards	16,215	—		—	—		—	—		—		—		—
Issuance of common stock for settlement of RSUs	521,972	—		—	—		—	—		—		—		—
Shares withheld related to net share settlement	(186,975)	—		—	—		—	—		(615)		—		(615)

Excise tax on repurchases of common stock	—	—		—	—		—	(127)		—		—		(127)
Stock-based compensation	—	—		—	—		—	—		10,378		—		10,378
Net loss	—	—		—	—		—	—		—		(6,611)		(6,611)
Balance at March 31, 2025	78,987,066	$	1	15,647,029	$	—	10,201,720	$	(50,286)	$	1,061,155	$	(837,616)	$	173,254


	Common Stock-Class A			Common Stock-Class B			Treasury Stock			Additional Paid-In Capital		Accumulated Deficit		Total Stockholders’ Equity
	Shares	Amount		Shares	Amount		Shares	Amount
Balance at December 31, 2023	85,614,983	$	1	15,661,433	$	—	—	$	—	$	1,007,190	$	(815,434)	$	191,757
Issuance of restricted stock awards	9,665	—		—	—		—	—		—		—		—
Issuance of common stock for settlement of RSUs	887,751	—		—	—		—	—		—		—		—
Shares withheld related to net share settlement	(305,537)	—		—	—		—	—		(2,612)		—		(2,612)
Repurchase of common stock (1)	(2,652,174)	—		—	—		2,652,174	(15,055)		—		—		(15,055)
Stock-based compensation	—	—		—	—		—	—		14,523		—		14,523
Net loss	—	—		—	—		—	—		—		(4,490)		(4,490)
Balance at March 31, 2024	83,554,688	$	1	15,661,433	$	—	2,652,174	$	(15,055)	$	1,019,101	$	(819,924)	$	184,123


















(1) includes a 1% excise tax on repurchases of common stock.

(See accompanying Notes to Unaudited Condensed Consolidated Financial Statements)

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EVENTBRITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, Unaudited)
	Three Months Ended March 31,
	2025		2024(1)
Cash flows from operating activities
Net loss	$	(6,611)	$	(4,490)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	4,022		3,594
Stock-based compensation expense	10,161		13,962
Amortization of debt discount and issuance costs	310		526

Unrealized (gain) loss on foreign currency exchange	(1,225)		1,222
Accretion on short-term investments	(41)		(1,877)
Non-cash operating lease expenses	155		133
Amortization of creator signing fees	472		194
Changes related to creator advances, creator signing fees, and allowance for credit losses	405		423
Provision for chargebacks and refunds	5,129		5,046

Other	351		155
Changes in operating assets and liabilities
Accounts receivable	479		(899)
Funds receivable	1,559		13,298
Creator signing fees and creator advances	(3,098)		(3,036)
Prepaid expenses and other assets	(1,242)		2,142
Accounts payable, creators	50,044		54,852
Accounts payable	(500)		(1,151)
Chargebacks and refunds reserve	(4,932)		(4,416)
Accrued compensation and benefits	4,722		(8,776)
Accrued taxes	(377)		(2,020)
Operating lease liabilities	(550)		(488)
Other accrued liabilities	193		159

Net cash provided by operating activities	59,426		68,553
Cash flows from investing activities
Purchases of short-term investments	—		(84,113)
Maturities of short-term investments	25,000		126,033
Purchases of property and equipment	(56)		(316)
Capitalized internal-use software development costs	(674)		(2,257)

Net cash provided by investing activities	24,270		39,347
Cash flows from financing activities




Repurchase of common stock	—		(12,010)

Taxes paid related to net share settlement of equity awards	(615)		(2,612)


Net cash used in financing activities	(615)		(14,622)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3,299		(2,538)
Net increase in cash, cash equivalents and restricted cash	86,380		90,740
Cash, cash equivalents and restricted cash
Beginning of period	464,531		489,200
End of period	$	550,911	$	579,940
Supplemental cash flow data
Interest paid	$	798	$	798
Income taxes paid, net of refunds	$	51	$	169
Non-cash investing and financing activities

Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	103	$	1,011

Other accrued liability recorded for common stock repurchases	$	—	$	3,004

(1)The condensed consolidated statement of cash flows for the three months ended March 31, 2024 has been revised. For further details refer to “Note 1. Overview and Basis of Presentation.”

(See accompanying Notes to Unaudited Condensed Consolidated Financial Statements)

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EVENTBRITE, INC.

Notes to Unaudited Condensed Consolidated Financial Statements

1. Overview and Basis of Presentation

Description of Business

Eventbrite, Inc. (Eventbrite or the Company) operates a two-sided marketplace that connects millions of creators and consumers every month, enabling them to share their passions, artistry, and causes through live experiences. Creators utilize the Company's highly-scalable self-service ticketing and marketing tools to plan, promote, and sell tickets to their events. Event seekers use Eventbrite's website and mobile application to discover and purchase tickets to experiences they love.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.

The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal and recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations and cash flows for the interim periods. All intercompany transactions and balances have been eliminated.

The information included in this Quarterly Report on Form 10-Q should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Quantitative and Qualitative Disclosures About Market Risk" and the Consolidated Financial Statements and the related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (2024 Form 10-K). The results for any interim period are not necessarily indicative of the results for the full annual period or any future period.

Significant Accounting Policies

There have been no changes to the Company's significant accounting policies described in the 2024 Form 10-K that have had a material impact on the Company's unaudited condensed consolidated financial statements and related notes.

Revision of Previously Issued Financial Statements

The Company has revised certain prior period amounts to correct an error related to foreign currency exchange in the condensed consolidated statement of cash flows for comparative purposes. Based on management’s evaluation of both quantitative and qualitative factors, the Company believes that the impact of the error was not significant, individually or in the aggregate, to any previously reported quarterly periods in 2024. Accordingly, the previously issued condensed statement of cash flows has been revised. This correction had no impact on the prior period condensed consolidated balance sheet, condensed consolidated statement of operations or the condensed consolidated statement of stockholders’ equity.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures. This Update enhances the transparency and usefulness of income tax disclosures, particularly in the rate reconciliation table and disclosures about income taxes paid. The guidance also eliminates certain existing requirements related to uncertain tax positions and unrecognized deferred tax liabilities. ASU 2023-09 is effective for the Company for the fiscal year ending December 31, 2025. The Company is currently evaluating the impact of adopting ASU 2023-09.

Use of Estimates

In order to conform with U.S. GAAP, the Company is required to make certain estimates, judgments and assumptions when preparing its condensed consolidated financial statements. These estimates, judgments and assumptions affect the reported assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reported periods. These estimates include, but are not limited to, the recoverability of creator signing fees and creator advances, chargebacks and refunds reserve, certain assumptions used in the valuation of equity awards, assumptions used in determining the fair value of business combinations, the allowance for credit

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losses, and indirect tax reserves. The Company evaluates these estimates on an ongoing basis. Actual results could differ from those estimates and such differences could be material to the Company’s condensed consolidated financial statements.

Comprehensive Loss

For all periods presented, comprehensive loss equaled net loss. Therefore, the condensed consolidated statements of comprehensive loss have been omitted from the unaudited condensed consolidated financial statements.

Segment Information

Operating segments are identified as components of an enterprise about which separate discrete financial information is available and reviewed regularly by the chief operating decision-maker (CODM). The Company’s CODM is its Chief Executive Officer (CEO) who reviews discrete financial information presented on a consolidated basis for purposes of allocating resources and evaluating the Company’s financial performance. The Company generates revenue from services fees and payment processing fees from the sale of paid tickets on the Eventbrite platform, as well as fees associated with advertising and marketplace services. The Company does not separate costs for its different revenue streams and therefore discrete financial information is only available on a consolidated basis. Accordingly, the Company has determined that it operates as a single operating segment and has one reportable segment.

The CODM assesses performance and decides how to allocate resources based on the Company's consolidated net loss, gross profit, and gross margin. The CODM uses these metrics to monitor forecast versus actual results, which is used in assessing performance of the Company’s single segment and in establishing compensation, whether to reinvest profits, and other factors evaluated by the CODM. The consolidated statements of operations are presented to the CODM without further disaggregation. Significant segment expenses also include depreciation, amortization and stock-based compensation expense, which are disclosed within the consolidated statements of cash flows. The measure of segment assets is reported on the balance sheet as total consolidated assets. The Company does not have any significant intra-entity sales or transfers.

2. Revenue Recognition

The Company derives its revenues from a mix of marketplace activities. Revenue is primarily derived from ticketing fees and payment processing fees. The Company's customers are event creators who use the Company's platform to sell tickets and market events to consumers. Revenue is recognized when or as control of the promised goods or services is transferred to creators, in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services.

Ticketing Revenue

For ticketing services, the Company's service provides a platform to the event creator and consumer to transact. The Company's performance obligation is to facilitate and process that transaction and issue the ticket, and ticketing revenue is recognized by the Company when the ticket is sold. The amount that the Company earns for its ticketing services consists of a flat fee and a fixed percentage-based fee per ticket. The Company records ticketing revenue on a net basis related to its ticketing service fees.

For payment processing services, the Company provides the event creator with the choice of whether to use Eventbrite Payment Processing (EPP) or to use a third-party payment processor, referred to as Facilitated Payment Processing (FPP).

Under the EPP option, the Company is the merchant of record and is responsible for processing the transaction and collecting the face value of the ticket and all associated fees at the time the ticket is sold. The Company is also responsible for remitting these amounts collected, less the Company's fees, to the event creator. For EPP services, the Company determined that it is the principal in providing the service as the Company is responsible for fulfilling the promise to process the payment and has discretion in establishing the price of its service. As a result, the Company records revenue on a gross basis related to its EPP service fees. Costs incurred for processing the ticketing transactions are included in cost of net revenues in the condensed consolidated statements of operations. Under the FPP option, the Company is not responsible for processing the transaction or collecting the face value of the ticket and associated fees. In this case, the Company records revenue on a net basis related to its FPP service fees.

Revenue is presented net of indirect taxes, customer refunds, payment chargebacks, estimated uncollectible amounts, creator royalties and amortization of creator signing fees.

If an event is canceled by a creator, then any obligations to provide refunds to event attendees are the responsibility of that creator. If a creator is unwilling or unable to fulfill their refund obligations, the Company may, at its discretion, provide attendee refunds.

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Advertising Revenue

Advertising revenue represents services that enable creators to promote featured content on the Eventbrite platform or mobile application. The Company considers that it satisfies its performance obligation as it provides the services to customers and recognizes revenue as advertising impressions are displayed to consumers.

Organizer Fee Revenue

In June 2023, the Company expanded access to its comprehensive suite of event marketing tools to all creators and introduced new pricing plans and subscription packages to creators when publishing events on the Eventbrite marketplace. Under this pricing plan, the Company charged an organizer fee under two plan options. The Flex plan was charged per event and the Pro plan was a monthly or annual subscription to publish unlimited events.

In September 2024, the Company discontinued the Flex plan and returned to a model that enables creators to publish their events at no cost on the Eventbrite marketplace. Creators continue to have the option to subscribe to the Pro plan, available on an annual or monthly basis, which offers enhanced event marketing capabilities. The Company considers that it satisfies its performance obligation as it provides the subscribed services under the plan and recognizes revenue ratably over the subscription period. Organizer fees are nonrefundable.

3. Cash, Cash Equivalents and Restricted Cash

The Company considers all highly liquid financial instruments, including bank deposits, money market funds and U.S. Treasury securities with an original maturity of three months or less at the date of purchase to be cash equivalents. Due to the short-term nature of the instruments, the carrying amounts reported in the condensed consolidated balance sheets approximate their fair value.

Cash and cash equivalents balances include the face value of tickets sold on behalf of creators and their share of service charges, which are to be remitted to the creators. Such balances were $319.4 million and $266.0 million as of March 31, 2025 and December 31, 2024, respectively. These ticketing proceeds are legally unrestricted.

In 2024, the Company established a letter of credit in order to manage and mitigate potential risks related to refunds and chargebacks. This cash was classified as restricted cash on the condensed consolidated balance sheets. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same amounts shown in the condensed consolidated statements of cash flows (in thousands):


	March 31, 2025		December 31, 2024		March 31, 2024
Cash and cash equivalents	$	502,911	$	416,531	$	579,940
Restricted cash	48,000		48,000		—
Total cash, cash equivalents and restricted cash	$	550,911	$	464,531	$	579,940

4. Short-term Investments

The Company previously invested certain of its excess cash in short-term debt instruments, which consisted of U.S. Treasury bills with original maturities of less than one year. These short-term investments were classified as held-to-maturity and were recorded and held at amortized cost. As of March 31, 2025, the Company does not hold any short-term investments. No fair value impairment was recognized during the three months ended March 31, 2025 or year ended December 31, 2024.

The following tables summarize the Company's financial instruments that were measured at fair value on a non-recurring basis (in thousands):


		March 31, 2025
Description	Classification	Amortized cost		Gross unrecognized holding gains		Gross unrecognized holdings losses		Aggregate fair value
Savings deposits	Cash equivalents	$	54,130	$	—	$	—	$	54,130


		$	54,130	$	—	$	—	$	54,130

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		December 31, 2024
Description	Classification	Amortized cost		Gross unrecognized holding gains		Gross unrecognized holdings losses		Aggregate fair value
Savings deposits	Cash equivalents	$	28,601	$	—	$	—	$	28,601

US Treasury securities	Short-term investments	24,959		7		—		24,966
		$	53,560	$	7	$	—	$	53,567

5. Funds Receivable

Funds receivable represents cash-in-transit from third-party payment processors that is received by the Company within approximately five business days from the date of the underlying ticketing transaction. For periods ending on a weekend or a bank holiday, the funds receivable balance will typically be higher than for periods ending on a weekday, as the Company settles payment processing activity on business days. The funds receivable balance includes the face value of tickets sold on behalf of creators and their share of service charges, which amounts are to be remitted to the creators. Such amounts were $33.0 million and $34.2 million as of March 31, 2025 and December 31, 2024, respectively.

6. Accounts Receivable, Net

Accounts receivable, net is comprised of invoiced amounts to customers who use a third-party facilitated payment processor (FPP) or our advertising services. Bad debt expense was immaterial in all of the periods presented in the condensed consolidated financial statements. The following table summarizes the Company’s accounts receivable balance (in thousands):


	March 31, 2025		December 31, 2024
Accounts receivable, customers	$	2,351	$	3,111
Allowance for credit losses	(1,001)		(924)
Accounts receivable, net	$	1,350	$	2,187

7. Creator Signing Fees, Net

Creator signing fees are incentives that are offered and paid by the Company to secure exclusive ticketing and payment processing rights with certain creators. Creator signing fees are presented net of reserves on the condensed consolidated balance sheet.

The balance of creator signing fees, net is being amortized on a straight-line basis over a weighted-average remaining contract life of 3.6 years and 2.3 years as of March 31, 2025 and 2024, respectively. The following table summarizes the activity in creator signing fees for the periods indicated (in thousands):


	Three Months Ended March 31,
	2025		2024
Balance, beginning of period	$	7,529	$	1,937
Creator signing fees paid	1,682		221
Amortization of creator signing fees	(472)		(194)
Write-offs and other adjustments	(979)		(31)
Balance, end of period	$	7,760	$	1,933

Creator signing fees are classified as follows on the condensed consolidated balance sheet as of the dates indicated (in thousands):


	March 31, 2025		December 31, 2024		March 31, 2024
Creator signing fees, net	$	3,375	$	3,954	$	651
Creator signing fees, net noncurrent	4,385		3,575		1,282
Total creator signing fees	$	7,760	$	7,529	$	1,933

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8. Creator Advances, Net

Creator advances are incentives that are offered by the Company which provide the creator with funds in advance of the event. Creator advances are presented net of reserves on the condensed consolidated balance sheet.

The following table summarizes the activity in creator advances for the periods indicated (in thousands):


	Three Months Ended March 31,
	2025		2024
Balance, beginning of period	$	3,380	$	2,804
Creat

SEC Form 10-Q filed by Eventbrite Inc.