Welcome to our dedicated page for Etsy news (Ticker: ETSY), a resource for investors and traders seeking the latest updates and insights on Etsy stock.
Etsy, Inc. (NASDAQ: ETSY) operates as a prominent global e-commerce marketplace that connects millions of creative buyers and sellers. Founded in 2005 and headquartered in Brooklyn, New York, Etsy has rapidly grown into a top-tier marketplace in the U.S., U.K., Germany, France, Australia, and Canada. The company specializes in unique, handmade, vintage items, and craft supplies, thereby catering to a niche market of buyers looking for distinctive goods that are not available in mainstream retail.
Etsy's core marketplace, Etsy.com, is its primary platform, where over 96 million buyers interact with 9 million sellers. The platform covers a broad range of categories, including jewelry, home decor, clothing, and art, generating a consolidated gross merchandise volume of $13.2 billion in 2023. Etsy also owns other marketplaces such as Reverb (musical instruments) and Depop (fashion resale), which contribute to its diversified revenue stream.
The company generates revenue through various streams such as listing fees, transaction fees, advertising services, payment processing, and shipping labels. In its latest financial results for Q4 2023, Etsy reported its highest-ever quarterly revenue of $842 million, driven by strong growth in Etsy Ads and payment services. Despite the challenging economic environment, Etsy showcased a 7.0% revenue growth and an adjusted EBITDA margin of 28.6% for the third quarter of 2023, highlighting its robust financial performance.
Recent achievements include the launch of Gift Mode™, an interactive hub aimed at enhancing the gifting experience through a blend of AI and human curation. This initiative is part of Etsy's broader strategy to increase buyer consideration and frequency of purchases. Additionally, Etsy's subsidiary Reverb has improved its user experience with advanced search filters and streamlined checkout processes, while Depop has made strides in performance marketing and product personalization.
Etsy's mission,
Etsy announces significant executive changes effective January 2025. Kruti Patel Goyal, current CEO of Depop subsidiary, is appointed as President and Chief Growth Officer, overseeing Product, Marketing, Member Support, Trust and Safety, and Strategy. Lanny Baker, from Eventbrite, joins as Chief Financial Officer, succeeding Rachel Glaser. Brad Minor is promoted to Chief Marketing Officer.
The company also announces the departures of Raina Moskowitz (Chief Operating and Marketing Officer) and Rachana Kumar (Chief Technology Officer). These changes aim to strengthen Etsy's shopping experience, deepen customer engagement, and reignite growth. Under Patel Goyal's leadership, Depop has shown strong performance, with gross merchandise sales up 30% for the nine months ended September 2024.
Etsy (Nasdaq: ETSY) has announced its participation in three upcoming investor conferences in December 2024. The company will attend the UBS Global Technology and AI Conference in Scottsdale, Arizona on December 3, and the Wells Fargo 8th Annual TMT Summit in Rancho Palos Verdes, California on December 4. Neither of these events will be webcast.
Additionally, Etsy executives will participate in the Raymond James 2024 TMT & Consumer Conference in New York City, featuring a webcast fireside chat on December 9 at 9:20 a.m. E.T. Investors can access the webcast through Etsy's investor relations website.
Etsy has announced its participation in three upcoming investor conferences in November 2024. The company will attend the Truist Securities Virtual Internet Growth Summit on November 14 and the Oppenheimer Internet Bus Tour on November 22, neither of which will be webcasted. Additionally, Etsy executives will participate in the 4th Annual Needham Consumer Tech/Ecommerce Virtual Conference on November 25 at 1:30 p.m. ET, featuring a webcasted fireside chat accessible through Etsy's investor relations website.
Etsy reported Q3 2024 results with consolidated GMS at $2.9 billion, down 4.1% YoY. Etsy marketplace GMS was $2.5 billion, down 6.0% YoY. Revenue increased by 4.1% to $662.4 million, driven by growth in Marketplace and Services revenue. Net income fell to $57.4 million, a 34.7% decrease YoY, with a net income margin of 8.7%. Adjusted EBITDA was $183.6 million, with a margin of 27.7%. Active buyers decreased by 0.4% to 91.2 million. The Board approved a new $1 billion stock repurchase program. Key initiatives include improving customer experiences, launching a loyalty program, and expanding gifting features. The company ended Q3 with $1.2 billion in cash and investments.
Etsy, Inc. (Nasdaq: ETSY), the operator of online marketplaces connecting buyers and sellers worldwide, has announced its plans to release third quarter 2024 financial results after market close on Wednesday, October 30, 2024. The company will host a video webcast conference call at 5:00 p.m. Eastern Time on the same day to discuss the results. The call will be live-streamed on Etsy's Investor Relations website, where the press release and earnings call presentation will also be available. Publishing analysts will have the opportunity to ask questions during the call. A replay of the webcast will be accessible through the same link for at least three months following the conference call, starting at 8:00 p.m. Eastern Time.
Osmium Partners, the second-largest shareholder of Articore (ASX:ATG), has issued a letter urging shareholders to vote for its four director nominees at the upcoming Annual Meeting on October 24, 2024. Osmium criticizes Articore's board for:
1. Persistent underperformance and share price decline
2. Multiple CEO changes and strategic misfires
3. Declining revenue for three years
4. Underperforming the ASX200 by ~100% since 2019
Osmium highlights its successful campaign with Leaf Group (NASDAQ: LEAF), which resulted in an acquisition at 1.4x EV/Sales. They argue that Articore's current 0.17x EV/Sales valuation is among the lowest for digital marketplaces, citing poor board decisions. Osmium plans to release a strategy to maximize shareholder value and urges votes for its nominees on Resolutions 4, 10, 11, and 12.
Etsy (Nasdaq: ETSY) has announced its participation in two upcoming investor conferences. The company will be present at Citi's 2024 Global TMT Conference in New York City on September 4, 2024, at 3:50 p.m. ET, and the Goldman Sachs Communacopia + Technology Conference in San Francisco on September 10, 2024, at 8:50 a.m. PT / 11:50 a.m. ET.
Etsy operates online marketplaces connecting creative buyers and sellers worldwide, including Etsy.com, Depop, and Reverb. The company's mission is to 'Keep Commerce Human' and empower people through business and technology. Founded in 2005 and headquartered in Brooklyn, New York, Etsy provides tools and services for sellers and offers unique, crafted items for buyers.
Etsy, Inc. (NASDAQ: ETSY) reported Q2 2024 results with consolidated GMS of $2.9 billion, down 2.1% year-over-year. Revenue increased 3.0% to $647.8 million, driven by Marketplace revenue growth. Net income was $53.0 million, down 14.4% year-over-year. Adjusted EBITDA rose 7.9% to $179.4 million, with a margin of 27.7%.
Key highlights include:
- Gifting GMS up 4.1% year-over-year
- Active buyers increased 1.0% to 91.5 million
- Take rate of 22.0%
- $150 million in share repurchases
Etsy is focusing on strategic growth areas like Gifting, Quality initiatives, and a new Loyalty Program. For Q3 2024, Etsy expects GMS to decline in the low single-digit range year-over-year, with an Adjusted EBITDA margin of ~27%.
Etsy (NASDAQ: ETSY) has announced the planned retirement of CFO Rachel Glaser after a nearly 40-year career, including over seven years at Etsy. The company has initiated a search for her successor, with Glaser remaining in her role until a replacement is appointed and staying on as an advisor through June 30, 2025. During her tenure, Etsy's consolidated gross merchandise sales (GMS) and revenue increased fourfold and sixfold, respectively, with adjusted EBITDA margins expanding even faster. The company generated over $3 billion in net cash from operating activities, while its global seller base grew from 2 million to 9 million and buyers increased from 33 million to 96 million between 2017 and 2023.
Etsy (Nasdaq: ETSY), the operator of online marketplaces connecting buyers and sellers globally, has announced it will release its second quarter 2024 financial results after market close on Wednesday, July 31, 2024. The company will host a video webcast conference call at 5:00 p.m. Eastern Time on the same day to discuss the results. The call will be live-streamed on Etsy's Investor Relations website, where the press release and earnings call presentation will also be available. Analysts will have the opportunity to ask questions during the call. A replay of the webcast will be accessible for at least three months following the conference call.
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