$ETSY (-0,89聽%) Q3'24 Earnings Highlights:
馃敼 EPS: $0.45 (Est. $0.53) 馃敶
馃敼 Revenue: $662.4M (Est. $653.45M) 馃煝; UP +4.1% YoY
馃敼 GMS: $2.9B; DOWN -4.1% YoY
馃敻 Board approved a new $1B stock repurchase program
Revenue Breakdown:
馃敼 Marketplace Revenue: $476.1M; UP +3.3% YoY
馃敼 Services Revenue: $186.3M; UP +6.2% YoY
馃敼 Gross Profit: $476.8M; UP +6.5% YoY
馃敼 Take Rate: 22.7%
Key Financial Metrics:
馃敼 Adjusted EBITDA: $183.6M; UP +0.8% YoY
馃敼 Adjusted EBITDA Margin: 27.7%
Operational Metrics:
馃敼 Active Sellers: 8.5M; DOWN -3.2% YoY
馃敼 Active Buyers: 96.7M; DOWN -0.7% YoY
馃敼 Reactivated Buyers: 6.4M
Q4 2024 Guidance:
馃敼 GMS: Expected to decline in low to mid-single digits YoY
馃敼 Take Rate: 22.3%
馃敼 Adjusted EBITDA Margin: 28-29%
FY 2024 Implied Guidance:
馃敼 GMS: Expected to decline in the low-single digits YoY
馃敼 Take Rate: ~22%
馃敼 Adjusted EBITDA Margin: 27.4-27.7%
Business Highlights:
馃敻 Board approved a new $1B stock repurchase program
馃敻 Repurchased $156M in shares during Q3 2024
馃敻 Enhanced gifting features and launched physical gift cards
馃敻 Introduced Etsy Insider loyalty program
馃敻 Improved search visibility and quality initiatives
CEO Josh Silverman鈥檚 Commentary:
馃敻 "Our third quarter consolidated results came in roughly as anticipated, with some incremental pressure on Etsy marketplace year-over-year GMS, healthy growth in revenue, and continued strength in our adjusted EBITDA profitability."