Eventbrite, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the Eventbrite fourth quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to Mr. Ronald Clark, Head of Investor Relations. Please go ahead.

Good afternoon and welcome to Eventbrite's fourth quarter and fiscal year 2020 earnings call. Prior to this call, we released our shareholder letter announcing our financial results. It can be found on our website at investor.eventbrite.com. Before we begin, I would like to remind you that during today's call, we will be making forward-looking statements regarding future events and financial performance. We caution that such statements reflect our best judgment as of today, February 25th, based on factors that are currently known to us and that actual future events or results could differ materially due to several factors, many of which are beyond our control. For a more detailed discussion of the risks and uncertainties affecting our future results, We refer you to the section titled forward-looking statements in our shareholder letter and our filings with the FCC. We undertake no obligation to update any forward-looking statements made during the call to reflect events or circumstances after today or to reflect new information or the occurrence of unanticipated events, except as required by law. During this call, we will present adjusted EBITDA, a non-GAAP financial measure. This non-GAAP financial measure is not prepared in accordance with generally accepted accounting principles and has limitations as an analytical tool. You should not consider it in isolation or as a substitute for analysis of our results of operations as reported under GAAP. A reconciliation to the most directly comparable GAAP financial measure is available in our shareholder letter. We encourage you to read our shareholder letter as it contains important information about GAAP and non-GAAP results. And with that, I'll now turn the call over to Julia Hartz, co-founder and chief executive officer.

Thank you, Ron. Hi, everyone, and thank you for joining us on the call today. 2020 was an exceptionally challenging year for the live events industry, one that tested old norms, prompted deep introspection, and resulted in profound change. At Eventbrite, we celebrate the incredible resilience and ingenuity of creators all over the world. In the face of unprecedented adversity, they've reimagined gathering and reinvented their businesses. Despite restrictions on in-person gatherings, our global community of hundreds of thousands of creators continue to bring people together in inventive ways. from virtual events to drive-ins to cleverly social distance experiences. And they hosted an astounding 4.6 million events on Eventbrite. Creators have continued to rely on our platform through the pandemic because we provide them with the tools and support to help them succeed as the landscape shifts. The flexibility and functionality of our platform have encouraged creators to adapt and grow. We have one goal, to help our creators succeed. It's this laser focus that has cemented our position as the platform that creators turn to while navigating unchartered territory. Every day we see creators taking advantage of what we offer in unique and inspiring ways. I had the pleasure of speaking with several of our frequent creators recently, all of them featured in our shareholder letter. I want to share just one of the stories with you because I think it illuminates the power of accelerated positive change brought on by crisis. London Drawing Group is a teaching collective founded by Louisa, Lucy, and Francis, three friends who met at the Royal Drawing School in London. Their mission is to make art accessible to everyone. Prior to COVID, they leveraged Eventbrite's platform to host fun and engaging classes and workshops at famous museums and other historic venues around London. As the pandemic closed museums to the public, these three entrepreneurs quickly pivoted to hosting virtual workshops, and they have seen their business explode because of it. tapping into Eventbrite's global audience of people looking to connect while in social isolation has encouraged them to host more events and expand their customer base from local to global. In fact, they increased paid registration from about 1,200 in 2019 to nearly 53,000 in 2020. As they look forward to bringing back their unique in-person experiences, They also plan to continue their online events program, which is allowing them to reap the benefit of the expanded audience they've built with Eventbrite's help. What I'm most proud of in a year full of challenges is that we didn't just sit on the sidelines. We showed up every single day and worked to retool, reimagine, and reinvent our business alongside our customers. The developments on vaccine distribution and virus containment are setting the stage for the return of in-person gatherings and ultimately the recovery of the live events economy. At Eventbrite, we have spent the last year preparing for the future by focusing on three important strategic objectives that we outlined back in May. Those are, one, delivering an intuitive self-service experience that helps creators get events up and running quickly and confidently. Two, creating flexible and efficient solutions that address our most active creators' needs. And three, offering more ways to drive attendees to Eventbrite Creators events. In 2020, we made excellent progress on each of these objectives. And our execution against three initiatives is meaningfully enhancing our business for the long term. Eventbrite has become a more focused company with a roadmap aligned to the needs of our most valuable creators. We are generating a greater proportion of customer acquisition through our most efficient and profitable channels. Most importantly, our strategic focus, expense reductions, and new senior leadership in engineering are enabling us to invest in initiatives to drive future growth as the recovery builds. With these changes, we believe Eventbrite will emerge from this crisis as a much stronger company, driving sustained growth and strong bottom line results for years to come. Before I turn it over to Lani, I want to thank the Eventbrite team. Many companies have suffered during this time, and we're not unique in that regard. Where we are unique is how we've approached the struggle, leaning into the opportunity to become a stronger, more focused, and agile company. This is a direct result of the dedication by our Breitlings, who act as owners of this business and advocates for our customers. I also want to express my sincere appreciation for the hundreds of thousands of creators who have trusted Eventbrite to help them through this past year. Every day, we work on your behalf as you bring the world together again through live experiences. And with that, I will turn it over to Lanny.