Earnings Performance - Etsy reported Q2 2024 earnings of 41 cents per share, missing the Zacks Consensus Estimate by 10.9% and reflecting an 8.9% year-over-year decrease [1] - Revenues increased 3% year-over-year to $647.81 million, beating the Zacks Consensus Estimate by 2.3% [1] Revenue Breakdown - Marketplace revenues were $470.38 million (72.6% of total revenues), up 3.8% year-over-year, driven by payments and transaction fee revenue from Offsite Ads [2] - Services revenues were $177.43 million (27.4% of total revenues), up 0.9% year-over-year [3] User Metrics - Etsy acquired 5.6 million new buyers, with total active buyers reaching 91.5 million, a 1% year-over-year increase [2] - Active buyer base grew 0.4% year-over-year to 96.6 million, missing the consensus mark of 97.2 million [4] - Active seller base stood at 8.8 million, up 5.9% year-over-year, but missed the consensus mark of 9.6 million [4] - Reactivated buyers reached 6.4 million, up 8.5% year-over-year [5] Gross Merchandise Sales (GMS) - GMS was $2.95 billion, down 2.1% on a reported basis and 1.9% on a currency-neutral basis year-over-year, beating the Zacks Consensus Estimate of $2.92 billion [5] - Etsy marketplace's GMS was $2.5 billion, down 3.2% on a reported basis year-over-year [5] Operating Performance - Gross margin expanded 160 basis points year-over-year to 71.6% [6] - Total operating expenses decreased 11.1% year-over-year to $393.55 million, representing 60.8% of revenues compared to 70.4% in the prior-year quarter [6] - Operating income was $70.2 million, compared to an operating loss of $2.4 million in the prior-year quarter [6] Balance Sheet - Cash and cash equivalents totaled $759.21 million as of Jun 30, 2024, down from $788.84 million as of Mar 31, 2024 [7] - Short-term investments were $240.68 million, down from $254.88 million in the previous quarter [7] - Long-term debt stood at $2.29 billion at the end of Q2 2024, up from $2.28 billion at the end of the prior quarter [8] Guidance - For Q3 2024, Etsy expects the take rate to be similar to Q2 2024's 22% [9] - GMS is anticipated to decline in the low single-digit range year-over-year [9] - Adjusted EBITDA margin is expected to be 27% [9]

As Etsy sees its sales slip, the eCommerce marketplace is gearing up to launch a loyalty program in an effort to drive greater spending and frequency among consumers who demand to be rewarded for their purchases. On a call with analysts Wednesday (July 31) discussing the company's second-quarter 2024 financial results, CEO Josh Silverman explained that an invitation-only beta test will launch to a "highly targeted group of occasional U.S. buyers" in September, following "many rounds" of research. "We've foc ...

| --- | --- | --- | |-------|-------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Q2 2024 | | | | | | | | | | | | Financial Results | | | | | | | | | | | | | | | | | | | | | | | | | | Forward-looking Statements 2 This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include but are not limited to: statements relating to our financial guidance for the third quarter 2024 and full year 2024 and underlying ...

Etsy, Inc. (NASDAQ:ETSY) Q2 2024 Earnings Call Transcript July 31, 2024 5:00 PM ET Company Participants Deb Wasser - VP of IR Josh Silverman - CEO Rachel Glaser - CFO Conference Call Participants Jason Helfstein - Oppenheimer Jian Li - Evercore Nathan Feather - Morgan Stanley Shweta Khajuria - Wolfe Research John Colantuoni - Jefferies Rick Patel - Raymond James Chris Kuntarich - UBS Michael Morton - MoffettNathanson Deb Wasser Hi, everyone, and welcome to Etsy's Q2 2024 Earnings Conference Call. I'm Deb Wa ...

Etsy (ETSY) reported $647.81 million in revenue for the quarter ended June 2024, representing a year-overyear increase of 3%. EPS of $0.41 for the same period compares to $0.83 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $633.51 million, representing a surprise of +2.26%. The company delivered an EPS surprise of -10.87%, with the consensus EPS estimate being $0.46. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q __________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 001-36911 __________________________________ ETSY, INC. (Exact name of reg ...

Etsy, Inc. Reports Second Quarter 2024 Results Consolidated results came in at the high end or ahead of guidance for key performance metrics Brooklyn, NY - July 31, 2024 - 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 results for its second quarter ended June 30, 2024. "We are pleased that second quarter consolidated results included sequential acceleration of Etsy marketplace year ...

Consolidated results came in at the high end or ahead of guidance for key performance metrics % (Decline) % (Decline) Three Months Ended Six Months Ended Growth Growth June 30, June 30, 2024 2023 2024 2023 Y/Y Y/Y GMS (1) $ 2,949,254 $ 3,012,504 (2.1) % $ 5,935,754 $ 6,113,862 (2.9) % Revenue $ 647,806 $ 628,876 3.0 % $ 1,293,760 $ 1,269,753 1.9 % BROOKLYN, N.Y., July 31, 2024 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and crea ...

BROOKLYN, N.Y., July 31, 2024 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced today that Rachel Glaser, Etsy's Chief Financial Officer, has decided to retire after a nearly 40-year career in strategic finance roles, including over seven years in her current role. Etsy has retained an executive recruiting firm to assist in the search for her successor. Ms. Glaser is expected ...

2024, it will begin testing its first-ever loyalty program in September, a move designed to boost sluggish sales and draw in infrequent shoppers. Credit: AP Photo/Mark Lennihan, File The New York-based company said select buyers will receive an invitation for the program, which will offer free shipping across the U.S. and access to discounts. Etsy is launching the program—called Etsy Insider—with the aim of reversing a decline in its gross merchandise sales, a measure of the amount of goods sold over a cert ...