$ETSY (-1,16%) Q3'24 Earnings Highlights:

🔹 EPS: $0.45 (Est. $0.53) 🔴

🔹 Revenue: $662.4M (Est. $653.45M) 🟢; UP +4.1% YoY

🔹 GMS: $2.9B; DOWN -4.1% YoY

🔸 Board approved a new $1B stock repurchase program

Revenue Breakdown:

🔹 Marketplace Revenue: $476.1M; UP +3.3% YoY

🔹 Services Revenue: $186.3M; UP +6.2% YoY

🔹 Gross Profit: $476.8M; UP +6.5% YoY

🔹 Take Rate: 22.7%

Key Financial Metrics:

🔹 Adjusted EBITDA: $183.6M; UP +0.8% YoY

🔹 Adjusted EBITDA Margin: 27.7%

Operational Metrics:

🔹 Active Sellers: 8.5M; DOWN -3.2% YoY

🔹 Active Buyers: 96.7M; DOWN -0.7% YoY

🔹 Reactivated Buyers: 6.4M

Q4 2024 Guidance:

🔹 GMS: Expected to decline in low to mid-single digits YoY

🔹 Take Rate: 22.3%

🔹 Adjusted EBITDA Margin: 28-29%

FY 2024 Implied Guidance:

🔹 GMS: Expected to decline in the low-single digits YoY

🔹 Take Rate: ~22%

🔹 Adjusted EBITDA Margin: 27.4-27.7%

Business Highlights:

🔸 Board approved a new $1B stock repurchase program

🔸 Repurchased $156M in shares during Q3 2024

🔸 Enhanced gifting features and launched physical gift cards

🔸 Introduced Etsy Insider loyalty program

🔸 Improved search visibility and quality initiatives

CEO Josh Silverman’s Commentary:

🔸 "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."