Financial Performance - Consolidated GMS for Q1 2025 was $2.8 billion, down 6.5% year-over-year, with Etsy marketplace GMS at $2.3 billion, down 8.9% year-over-year[5]. - Consolidated revenue was $651.2 million, up 0.8% compared to Q1 2024, with a take rate of 23.3%, an increase of 170 basis points[5]. - Consolidated net loss was $52.1 million, reflecting an impairment charge of $101.7 million related to Reverb, with a net loss margin of approximately (8.0)%[5]. - Revenue for Q1 2025 was $651,176,000, a slight increase from $645,954,000 in Q1 2024, representing a growth of 0.2%[23]. - Net loss for Q1 2025 was $52,096,000 compared to a net income of $63,004,000 in Q1 2024, indicating a significant decline[23]. - Total operating expenses increased to $481,442,000 in Q1 2025 from $390,731,000 in Q1 2024, reflecting a rise of 23.3%[23]. - Adjusted EBITDA for Q1 2025 was $171,102,000, up from $167,935,000 in Q1 2024, resulting in an adjusted EBITDA margin of 26.3%[26]. - Currency-neutral Gross Merchandise Sales (GMS) declined by 5.7% in Q1 2025 compared to a decline of 4.1% in Q1 2024[25]. User Engagement and Buyer Activity - Active buyers decreased by 3.4% year-over-year to 88.5 million, while 6.5 million buyers were reactivated, representing a 2.1% increase from the prior year[5]. - The Etsy app achieved its highest ever share of GMS, with significant improvements in user engagement and new features driven by AI and machine learning[7]. - Depop experienced strong top-line growth, particularly in the U.S., with increased personalized email and push content leading to higher engagement[10]. Future Outlook - Etsy anticipates that consolidated Q2 2025 GMS will decline at a rate similar to Q1 2025 performance, with an Adjusted EBITDA margin guidance of approximately 25%[12]. - The company is focusing on enhancing the buyer experience through improved search capabilities and local shipping messaging in response to evolving tariff landscapes[8]. Asset and Liability Management - Total assets decreased from $2,417,782 thousand as of December 31, 2024, to $2,120,802 thousand as of March 31, 2025, representing a decline of approximately 12.3%[22]. - Current liabilities decreased from $665,113 thousand to $519,138 thousand, a reduction of about 21.9%[22]. - Total stockholders' deficit increased from $(758,866) thousand to $(910,299) thousand, indicating a decline in equity[22]. - Long-term debt remained relatively stable, increasing slightly from $2,288,083 thousand to $2,289,149 thousand[22]. - Cash and cash equivalents decreased from $811,178 thousand to $649,191 thousand, a decline of approximately 20%[22]. - Accounts payable decreased from $25,979 thousand to $17,396 thousand, a reduction of about 33%[22]. - Accrued expenses decreased from $374,947 thousand to $264,207 thousand, a decline of approximately 29.5%[22]. - Deferred revenue increased from $19,213 thousand to $22,297 thousand, an increase of about 15.5%[22]. - Total current assets decreased from $1,109,983 thousand to $1,032,727 thousand, a decline of approximately 6.9%[22]. - Total liabilities decreased from $3,176,648 thousand to $3,031,101 thousand, a reduction of about 4.6%[22]. Cash Flow and Financing Activities - Cash and cash equivalents at the end of Q1 2025 were $649,191,000, down from $788,837,000 at the end of Q1 2024, a decrease of 17.7%[24]. - The company reported an asset impairment charge of $101,703,000 in Q1 2025, which was not present in Q1 2024[23]. - Stock-based compensation expense for Q1 2025 was $62,108,000, compared to $70,683,000 in Q1 2024, showing a decrease of 12.1%[26]. - The weighted-average common shares outstanding for basic shares decreased to 107,084,000 in Q1 2025 from 118,440,000 in Q1 2024[23]. - The company experienced a net cash used in financing activities of $204,782,000 in Q1 2025, compared to $163,014,000 in Q1 2024, an increase of 25.6%[24]. Strategic Decisions - Etsy has signed a definitive agreement to sell Reverb, with the transaction expected to close in the coming months[9].

Core Insights - Etsy's first quarter 2025 financial results met expectations, showing solid adjusted EBITDA performance despite revenue pressure [2][3] - The company is leveraging AI and machine learning to enhance the app experience and drive user engagement [2] - Etsy's resilient two-sided marketplace model is positioned to navigate macroeconomic challenges [2] Financial Performance - Gross Merchandise Sales (GMS) for Q1 2025 was $2.8 billion, a decline of 6.5% year-over-year [4][5] - Revenue reached $651.2 million, up 0.8% compared to Q1 2024, with a take rate of 23.3%, an increase of 170 basis points [4][5] - Adjusted EBITDA was $171.1 million, with an adjusted EBITDA margin of 26.3%, slightly up from 26.0% in the previous year [4][5] Operational Highlights - Active sellers decreased by 11.3% year-over-year to 8,095, while active buyers fell by 3.4% to 88.5 million [4][5] - The number of habitual buyers dropped by 11.0% year-over-year to 6.2 million [5] - Depop experienced strong growth, achieving its highest GMS since acquisition in 2021 [5][12] Strategic Initiatives - Etsy is focusing on enhancing customer engagement through improved product experiences and strategic marketing initiatives [7][8] - The company has established a task force to address tariff changes and improve buyer and seller experiences [9] - Significant investments are planned to support GMS improvement and enhance the marketplace experience [3] Future Guidance - For Q2 2025, Etsy anticipates GMS to decline at a rate similar to Q1 2025, with an adjusted EBITDA margin around 25% [14]

Group 1: Trade Policy Concerns - Etsy CEO Josh Silverman is advocating against the elimination of the de minimis exemption for small parcel imports from China, which he claims would negatively impact 8 million Etsy sellers [1][2][3] - The de minimis exemption allows items valued at $800 or less to enter the U.S. without customs duties, and its removal could lead to increased costs for sellers if raw materials become more expensive [3][4] - Silverman warns that the lack of an organized system for collecting duties on small-value goods could result in significant delays and a potential backlog of parcels, severely affecting small commerce [5][6] Group 2: Tax Reporting Changes - Silverman is pushing for a change in the 1099-K tax reporting threshold, which was lowered from $20,000 to $600, arguing that this creates unnecessary friction for small business owners [7][8][9] - The current threshold requires tax filings even for minimal revenue, which could burden sellers who do not owe taxes [8][9] - There are ongoing congressional bills aimed at reverting the threshold to a higher amount, which Silverman supports [9] Group 3: Caregiver Support - Silverman highlights the need for federal support for caregivers, as many Etsy sellers face challenges balancing business and caregiving responsibilities [9][10][11] - A significant portion of Etsy's sellers are women, with 25% having children at home, indicating a strong need for support systems [10] - The lack of paid time off for solo entrepreneurs means that caregiving responsibilities can directly impact their business revenue [11]

Etsy (ETSY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often find it hard ...

智通财经APP获悉，华尔街金融巨头高盛集团在最新发布的一份美国电商行业研究报告中，系统性地分析了全球关税政策升级对美国电商行业的多维度冲 击，重点聚焦终端需求变化与美国关税政策之下的电商成本传导机制。高盛研究团队基于宏观经济模型、历史周期对比(2007-2009年金融危机参照)以及高频 数据跟踪，预判2025Q1与Q2电商板块面临关税成本带来的盈利预期下行风险，但结构性的投资机遇存在于未来消费者们愈发向服务性质的消费转移以及电 商龙头平台的强大业绩韧性，这些颇具弹性的电商股有望大幅跑赢美股大盘——标普500指数。 在美股市场，多数电商股，以及零售类股票自4月以来持续面临抛售，大幅跑输标普500指数，并且美国金融市场出现史上罕见的"股债汇三杀"，主要逻辑在 于全球资金对于美元资产的持有信心因特朗普关税政策带来的宏观经济层面巨大不确定性，以及特朗普政府欲罢免鲍威尔威胁到美联储独立性而大幅削减， 加之多数投资者押注特朗普激进的进口商品关税政策带来的通胀卷土重来趋势，可能令近年来因通胀持续高企而钱包捉襟见肘的美国消费者们愈发削减支 出。 密歇根大学消费者调查数据显示，消费者信心指数创下自2022年6月以来的最低水平， ...

An employee walks past a quilt displaying Etsy Inc. signage at the company's headquarters in the Brooklyn.Etsy is trying to make it easier for shoppers to purchase products from local merchants and avoid the extra cost of imports as President Donald Trump's sweeping tariffs raise concerns about soaring prices. In a post to Etsy's website on Thursday, CEO Josh Silverman said the company is "surfacing new ways for buyers to discover businesses in their countries" via shopping pages and by featuring local sell ...

Market Overview - The S&P 500, Dow Jones Industrial Average, and Nasdaq have shown significant volatility due to President Trump's tariff plans, which initially caused stock declines but saw a temporary rebound after a 90-day tariff pause and exemptions for electronics [1][2] Investment Strategies - **ETFs**: Investing in exchange-traded funds (ETFs) is recommended for diversification across industries, which can mitigate risks during market downturns. A broad ETF like the Vanguard S&P 500 ETF is suggested, known for its low expense ratio of 0.03% and historical average annual return of 10% [3][4] - **Beneficiary Companies**: Some companies may benefit from tariffs, such as Amazon and Etsy, as consumers may shift away from China-based products due to increased costs. Etsy has indicated it could be a "net beneficiary" of tariffs focused on China [5][6] - **Established Companies**: Investing in well-established companies like American Express and Microsoft is advisable during market turmoil, as they have a proven track record and are currently trading at reasonable valuations [7][8] - **Safe Stocks**: Companies in resilient sectors, such as healthcare, are considered "safe players" as they continue to perform during economic downturns. Additionally, dividend stocks, particularly Dividend Kings, are recommended for passive income [9][10] - **Long-term Perspective**: Maintaining a long-term investment outlook is crucial during market fluctuations. Quality stocks typically recover over time, and investors are encouraged to focus on long-term prospects rather than short-term volatility [11][12]

BROOKLYN, N.Y., April 16, 2025 /PRNewswire/ -- Etsy, Inc. (Nasdaq: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, plans to release its first quarter 2025 financial results before the opening of the market on Wednesday, April 30, 2025. The press release can be accessed on the Etsy Investor Relations website (investors.etsy.com). Etsy will also host a video webcast conference call to discuss those results at 8:30 a.m.  ...

Core Viewpoint - Etsy's stock has significantly underperformed compared to the broader market and its industry peers, primarily due to weak consumer discretionary spending and increased competition in the e-commerce sector [1][2][3]. Company Performance - Etsy shares have dropped 28.4% over the past 12 months, while the S&P 500 and Zacks Retail-Wholesale sector returned 11.2% and 6.9%, respectively [1]. - The company experienced a 4.4% year-over-year decline in gross merchandise sales (GMS) in 2024, attributed to ongoing economic pressures affecting consumer spending [2]. Competitive Landscape - Etsy faces intense competition from larger e-commerce platforms like Amazon, eBay, and Alibaba, which have seen stock gains of 5.2%, 29.5%, and 80.2% respectively over the same period [3]. - The competitive advantages of these giants include pricing, product variety, and customer loyalty programs, making it challenging for Etsy to maintain its market position [3]. Strategic Initiatives - To counteract these challenges, Etsy has outlined strategic initiatives for 2025 aimed at improving GMS, including enhancing search and discovery through AI, improving buyer experience, and supporting sellers with better tools [4]. - The company plans to expand its marketing efforts, invest in AI-driven personalization, and grow internationally to drive global sales [4]. Financial Outlook - The Zacks Consensus Estimate for Etsy's first-quarter 2025 earnings per share is 53 cents, reflecting a slight decline but indicating a year-over-year growth of 10.42% [5]. - Revenue estimates for the same period are projected at $644.45 million, showing a year-over-year decline of 0.23% [6]. - Etsy has missed earnings estimates in three of the last four quarters, with an average negative surprise of 5.29% [6]. Conclusion - Despite the challenges posed by macroeconomic factors and competition, Etsy's focus on improving customer experience and expanding its global reach positions it for potential long-term growth [7]. - The company currently holds a Zacks Rank 3 (Hold), suggesting a cautious approach for investors until more favorable conditions arise in 2025 [8].

BROOKLYN, N.Y., March 27, 2025 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the appointment of Rafe Colburn as Chief Technology Officer (CTO), effective May 5, 2025. Colburn brings a wealth of technology leadership experience to the role. He currently serves as Chief Technology & Product Officer at Depop, where he has successfully scaled the technology team to supp ...