1Sem.ยท

$ETSY (+0,02ย %) Q3'24 Earnings Highlights:


๐Ÿ”น EPS: $0.45 (Est. $0.53) ๐Ÿ”ด

๐Ÿ”น Revenue: $662.4M (Est. $653.45M) ๐ŸŸข; UP +4.1% YoY

๐Ÿ”น GMS: $2.9B; DOWN -4.1% YoY

๐Ÿ”ธ Board approved a new $1B stock repurchase program


Revenue Breakdown:

๐Ÿ”น Marketplace Revenue: $476.1M; UP +3.3% YoY

๐Ÿ”น Services Revenue: $186.3M; UP +6.2% YoY

๐Ÿ”น Gross Profit: $476.8M; UP +6.5% YoY

๐Ÿ”น Take Rate: 22.7%


Key Financial Metrics:

๐Ÿ”น Adjusted EBITDA: $183.6M; UP +0.8% YoY

๐Ÿ”น Adjusted EBITDA Margin: 27.7%


Operational Metrics:

๐Ÿ”น Active Sellers: 8.5M; DOWN -3.2% YoY

๐Ÿ”น Active Buyers: 96.7M; DOWN -0.7% YoY

๐Ÿ”น Reactivated Buyers: 6.4M


Q4 2024 Guidance:

๐Ÿ”น GMS: Expected to decline in low to mid-single digits YoY

๐Ÿ”น Take Rate: 22.3%

๐Ÿ”น Adjusted EBITDA Margin: 28-29%


FY 2024 Implied Guidance:

๐Ÿ”น GMS: Expected to decline in the low-single digits YoY

๐Ÿ”น Take Rate: ~22%

๐Ÿ”น Adjusted EBITDA Margin: 27.4-27.7%


Business Highlights:

๐Ÿ”ธ Board approved a new $1B stock repurchase program

๐Ÿ”ธ Repurchased $156M in shares during Q3 2024

๐Ÿ”ธ Enhanced gifting features and launched physical gift cards

๐Ÿ”ธ Introduced Etsy Insider loyalty program

๐Ÿ”ธ Improved search visibility and quality initiatives


CEO Josh Silvermanโ€™s Commentary:

๐Ÿ”ธ "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."

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