馃敼 EPS: $1.03 (Est. $0.93) 馃煝
馃敼 Revenue: $852.2M (Est. $862.82M) 馃敶; UP +1.2% YoY
馃敼 Consolidated GMS: $3.735B (Est. $3.878B) 馃敶; DOWN -6.8% YoY
馃敼 Adj. EBITDA: $250.6M (Est. $246.17M) 馃煝; UP +6.4% YoY
Q1'25 Guidance:
馃敼 Adj. EBITDA Margin: 25-26% (Est. 26.33%) 馃煛
馃敼 GMS: Expected decline similar to Q4'24 (~6-7% YoY) vs. Est. $2.902B
馃敼 Take Rate: ~23%
Q4'24 Segment Performance:
馃敼 Marketplace Revenue: $607.3M (Est. $626.16M) 馃敶; DOWN -1.4% YoY
馃敼 Services Revenue: $244.9M (Est. $236.34M) 馃煝; UP +8.1% YoY
馃敼 Etsy Marketplace GMS: $3.3B; DOWN -8.6% YoY
馃敼 Depop GMS: Highest since 2021 acquisition; UP +31.6% YoY (full year)
Q4'24 Geographical Insights:
馃敻 Weak US discretionary spending; Depop gains in US re-commerce
Other Q4'24 Key Metrics:
馃敼 Active Buyers: 89.6M; DOWN -2.6% YoY
馃敼 GMS per Active Buyer (TTM): $121; DOWN -3.5% YoY
馃敼 Habitual Buyers: 6.4M; DOWN -9.5% YoY
馃敼 Adj. EBITDA Margin: 29.4%; UP +140 bps YoY
馃敼 Net Income Margin: 15.2%; UP +530 bps YoY
馃敼 Free Cash Flow: 90% of Adj. EBITDA ($225M)
Announcements & Strategic Updates:
馃敻 Repurchased $260M (4.9M shares) of stock in Q4
馃敻 Launched Etsy Insider beta loyalty program
馃敻 Introduced shop set-up fee to reduce fraudulent onboarding
馃敻 Enhanced AI-driven support and delivery estimates
Management Commentary:
馃敻 "Despite facing significant GMS headwinds in 2024, we delivered year-over-year revenue growth and very strong profitability," said Josh Silverman, CEO. "Foundational improvements are enhancing customer experiences, driving consideration and purchase frequency as we work to get back to GMS growth."
馃敻 "Etsy expanded margins and generated over $780M in adjusted EBITDA," added Lanny Baker, CFO. "This financial strength, combined with our differentiated offerings, gives me confidence in our future as we re-accelerate GMS growth."