Core Insights - Etsy, Inc. plans to release its third quarter 2025 financial results on October 29, 2025, before market opening [1] - A video webcast conference call will be held at 8:30 a.m. Eastern Time on the same day to discuss the results, allowing publishing research analysts to ask questions [2] - A replay of the webcast will be available starting at 12:00 p.m. Eastern Time on the same day for at least three months [3] Company Overview - Etsy operates two-sided online marketplaces connecting millions of buyers and sellers globally, with a mission to "Keep Commerce Human" [4] - The primary marketplace, Etsy.com, is known for unique and creative goods, providing tools and services to sellers [4] - Etsy also owns the fashion resale marketplace Depop, with both marketplaces operating independently while sharing expertise [5] Investor Relations - Etsy utilizes its Investor Relations website and the Etsy News Blog for disclosing material non-public information and compliance with Regulation FD [6] - Key contacts for investor and media relations are provided for further inquiries [6]

Core Insights - Pinterest, Inc. (PINS) and Etsy, Inc. (ETSY) are key players in the social e-commerce sector, focusing on discovery-driven shopping experiences that blend social inspiration with e-commerce to capture consumer spending trends online [1][2] - Pinterest offers a platform for users to save and organize visual recommendations, generating revenue through ads targeted at millennials and Gen Z [1] - Etsy operates a two-sided marketplace that allows merchants to manage products and customer relationships, supported by a strong technology infrastructure [2] Pinterest's Competitive Position - Pinterest is establishing a unique value proposition for advertisers, improving its advertising platform to attract consumer discretionary brands [4] - The company is enhancing operational rigor and utilizing AI to improve relevancy and personalization, which is expected to yield long-term benefits [5] - Pinterest projects a sales growth of 15.8% and EPS growth of 33.3% for 2025, indicating strong future performance [8][11] Etsy's Competitive Position - Etsy is enhancing customer experience through personalized shopping experiences, utilizing AI and machine learning for better engagement [7] - The company expects a modest sales growth of 1.3% for 2025, but a significant decline in EPS by 43.4% [8][13] - Etsy's subsidiary, Depop, has shown strong growth, particularly in the U.S. market, contributing positively to overall performance [9] Market Dynamics - Pinterest's stock has gained 23.5% over the past year, while Etsy's has only increased by 6.8% [14] - From a valuation perspective, Pinterest trades at a higher price/sales ratio of 5.3 compared to Etsy's 1.98, indicating a premium valuation for Pinterest [15] - Both companies carry a Zacks Rank 3 (Hold), but Pinterest is viewed as a better investment option due to its superior growth expectations and operating metrics [16][17]

Core Insights - Etsy, Inc. reported its second quarter results for 2025, highlighting a focus on strengthening customer relationships and enhancing buyer engagement through improved shopping experiences and personalized marketing [2][3][5] Financial Performance - Gross Merchandise Sales (GMS) for Q2 2025 was $2.8 billion, a decrease of 4.8% year-over-year, while revenue increased by 3.8% to $672.7 million [6][7] - The take rate improved to 24.0%, up from 22.0% in the previous year, driven by enhanced Etsy Ads revenue [6][7] - Net income for the quarter was $28.8 million, down from $53.0 million year-over-year, primarily due to a non-cash foreign exchange loss [6][7] - Adjusted EBITDA was $169.0 million, with a margin of 25.1%, reflecting a decline from the previous year [6][7][25] Strategic Initiatives - The company is prioritizing GMS growth through four strategic initiatives: enhancing shopper discovery, improving machine learning for content matching, retaining valuable customers, and amplifying the unique human connection of Etsy [10] - Etsy completed the sale of Reverb on June 2, 2025, which contributed $153.0 million to GMS and $17.6 million to revenue for the first two months of Q2 2025 [3][6] Market Trends - Depop, another marketplace owned by Etsy, reported a GMS of $249.6 million for Q2 2025, marking a 35.3% year-over-year growth [5] - Active buyers decreased by 4.6% year-over-year to 87.3 million, although the company reactivated 6.5 million buyers during the quarter [6][7] Cash Position and Investments - Etsy ended Q2 2025 with $1.5 billion in cash and cash equivalents, following a successful convertible notes offering that raised approximately $700 million [6][7] - The company repurchased approximately $335 million of its stock during the quarter, reflecting confidence in long-term growth opportunities [6][7] Future Guidance - For Q3 2025, Etsy expects GMS to be between $2.6 billion and $2.7 billion, with a take rate of approximately 24.5% and an adjusted EBITDA margin around 25% [9][10]

Core Points - Etsy, Inc. plans to release its second quarter 2025 financial results on July 30, 2025, before market opening [1] - A video webcast conference call will be held at 8:30 a.m. Eastern Time on the same day to discuss the results, allowing analysts to ask questions [2] - A replay of the webcast will be available starting at 12:00 p.m. Eastern Time on the same day for at least three months [3] Company Overview - Etsy operates two-sided online marketplaces connecting millions of buyers and sellers globally, with a mission to "Keep Commerce Human" [3][4] - The primary marketplace, Etsy.com, is known for unique and creative goods, providing tools and services for sellers [3] - Etsy also owns the fashion resale marketplace Depop, with both marketplaces operating independently but sharing expertise [4] Investor Relations - The company uses its Investor Relations website and Etsy News Blog to disclose material non-public information and comply with disclosure obligations [5]

Core Viewpoint - Etsy, Inc. has announced the pricing of $650 million in convertible senior notes due 2030, with an option for initial purchasers to buy an additional $50 million, aimed at raising capital for share repurchases and general corporate purposes [1][5]. Group 1: Notes Details - The notes will have a 1.00% annual interest rate, maturing on June 15, 2030, and will be convertible into cash, shares, or a combination at Etsy's discretion [2]. - The initial conversion rate is set at 11.6570 shares per $1,000 principal amount, translating to an initial conversion price of approximately $85.79 per share, which is a 42.5% premium over the last reported sale price on June 11, 2025 [2]. - Etsy can redeem the notes for cash starting June 20, 2028, if the stock price meets certain conditions [3]. Group 2: Use of Proceeds - Etsy estimates net proceeds from the offering to be approximately $639.3 million, or $688.5 million if the additional notes option is fully exercised, with $150 million allocated for share repurchases and the remainder for general corporate purposes [5][7]. - Concurrently, Etsy plans to repurchase shares at a price of $60.20, which was the last reported sale price on June 11, 2025 [7]. Group 3: Company Overview - Etsy operates two-sided online marketplaces connecting buyers and sellers globally, with a mission to "Keep Commerce Human" [9]. - The company also owns the fashion resale marketplace Depop, benefiting from shared expertise across its platforms [10].