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, Inc. reported its Q4 and full year 2022 financial results, highlighting a consolidated revenue of $807.2 million, marking a 12.6% year-over-year increase, despite a 4.0% decline in Gross Merchandise Sales (GMS) to $4.0 billion. The company maintained strong profitability with a net income of $109.5 million, though the net income margin decreased by 32.2% year-over-year. Significant investments in customer experience improvements were noted, alongside an increase in GMS from international transactions. Etsy's guidance for Q1 2023 forecasts GMS between $2.95 billion and $3.15 billion, and revenue between $600 million and $640 million.
Etsy, Inc. (NASDAQ: ETSY) will announce its fourth quarter and year-end 2022 financial results on February 22, 2023, after market close. Interested parties can find the press release on the Etsy Investor Relations website.
A video webcast conference call will follow at 5:00 p.m. Eastern Time, allowing for live Q&A. The conference call replay will be available from 8:00 p.m. Eastern Time that same day for three months. The company's marketplaces connect millions of buyers and sellers globally, enhancing community engagement.
Etsy, Inc. (NASDAQ: ETSY) announced the appointment of Colin Stretch as Chief Legal Officer and Corporate Secretary, effective February 14, 2023. Stretch brings 25 years of experience, including his tenure as General Counsel at Facebook (2013-2019), where he oversaw legal and compliance functions. His leadership experience and commitment to economic empowerment align with Etsy's mission to enhance marketplace safety and advocate for microbusinesses globally. Stretch will report directly to CEO Josh Silverman and be part of Etsy's executive team based in Brooklyn.
Etsy, Inc. (Nasdaq: ETSY) will participate in the 2nd Annual Needham Consumer Tech / E-Commerce Virtual Conference on November 21, 2022, at 12:15 p.m. ET, featuring a webcasted fireside chat. Additionally, company executives will attend the BTIG Technology Innovation Summit on November 15, 2022. Etsy operates online marketplaces connecting buyers and sellers, including Etsy.com, Depop, Reverb, and Elo7, promoting a mission to 'Keep Commerce Human.' For more details, visit investors.etsy.com.
Etsy reported its Q3 2022 results, revealing a consolidated GMS of $3.0 billion, a 3.3% year-over-year decline, but up 0.7% on a currency-neutral basis. Marketplace GMS was $2.6 billion, down 3.8% from last year. Revenue increased by 11.7% to $594.5 million, boosted by a higher take rate of 19.8%. However, the company faced a net loss of $963.1 million due to a $1.0 billion impairment charge. Despite macroeconomic challenges, Etsy added 6 million new buyers and improved its international presence, with non-U.S. GMS rising 9% year-over-year.
Etsy, Inc. (NASDAQ: ETSY) announced the promotion of Rachana Kumar to Chief Technology Officer, effective January 1, 2023, after Mike Fisher's departure to focus on family. Kumar, who has been with Etsy for over eight years, previously served as Vice President of Engineering, playing key roles in product development and the establishment of Etsy's Mexico City office. CEO Josh Silverman praised Kumar's leadership and accomplishments, highlighting her efforts in driving growth from 20 million to over 88 million active buyers. Fisher will remain as an advisor until April 2023.
Etsy, Inc. (Nasdaq: ETSY) will announce its third quarter financial results on November 2, 2022, after market close. The results will be accessible via a press release on the company's Investor Relations website. A conference call to discuss the results will take place at 5:00 p.m. Eastern Time that day, with a replay available afterward. Etsy operates two-sided marketplaces, connecting buyers and sellers globally, including its primary marketplace, Etsy.com, and other platforms like Depop and Reverb.
Etsy, Inc. (Nasdaq: ETSY) announced participation in several upcoming investor conferences. Key events include the Evercore ISI 2nd Annual Technology Conference on September 7, 2022, and the Goldman Sachs Communacopia + Technology Conference on September 14, 2022. Additionally, Etsy executives will attend the Piper Sandler Growth Frontier Conference in Nashville, TN, on September 13 and 14, 2022. Webcasts of these presentations will be available on Etsy's investor relations website.
Etsy, Inc. (Nasdaq: ETSY) announced its participation in the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 9, 2022, at 1:15 PM ET. The event will feature a webcasted fireside chat, accessible via the investors.etsy.com. Etsy operates marketplaces connecting creative buyers and sellers globally, with a commitment to "Keep Commerce Human" and empower communities.
Etsy reported its second quarter results for 2022, revealing a consolidated GMS of $3.0 billion, down 0.4% year-over-year but up 2.6% on a currency neutral basis. Revenue grew by 10.6% to $585.1 million, bolstered by a transaction fee increase. However, net income decreased by 25.6% to $73.1 million, largely due to rising employee costs following significant headcount growth. The company's cash assets stood at $1.1 billion, and it repurchased approximately $62 million in stock during the quarter. Looking ahead, Etsy expects third quarter GMS between $2.8B to $3.0B.
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