Etsy(US:ETSY)2025-06-17 14:00Financial Data and Key Metrics Changes - In 2024, the company reported record revenue and achieved an adjusted EBITDA of $780 million, alongside over $700 million in free cash flow, indicating strong financial performance despite overall results being below expectations [16][18]. Business Line Data and Key Metrics Changes - The company made significant improvements across its marketplace, focusing on listing quality, search visibility, and expanding browsable content, which are expected to enhance the overall customer experience [16][18]. Market Data and Key Metrics Changes - Depop experienced over 30% growth in Gross Merchandise Sales (GMS) in 2024, becoming the fastest-growing U.S. fashion resale player, with this momentum continuing into 2025 [17]. Company Strategy and Development Direction - The company is focused on strategic investments aimed at driving engagement and sales, with a balanced portfolio of product investments designed to improve GMS and customer experience [16][18]. - A significant share repurchase program was executed, reducing outstanding shares by over $12 million, and a new $1 billion buyback initiative was authorized, reflecting confidence in long-term potential [4]. Management's Comments on Operating Environment and Future Outlook - Management acknowledged the unprecedented and dynamic business environment but expressed confidence in the company's strong financial foundation and the effectiveness of its new leadership team [18][19]. - The company is committed to enhancing buyer and seller experiences and believes foundational steps taken in 2024 will position it for stronger performance in the future [16]. Other Important Information - The company divested Reverb to focus more on growth opportunities at Etsy and Depop, indicating a strategic shift towards core business areas [18]. Q&A Session Summary Question: No questions were submitted during the Q&A session - The meeting concluded without any questions from stockholders [22][23].