Form 8-K · Current Report · Filed 2024-05-01
Etsy Reports Q1 2024 Financial Results with Stable Revenue and Adjusted EBITDA
Etsy, Inc. reported Q1 2024 financial results on May 1, 2024, showing a modest increase in revenue of 0.8% year-over-year to $646.0 million, driven by growth in payments revenue and Etsy Ads. Despite a challenging macroeconomic environment, consolidated gross merchandise sales (GMS) declined by 3.7% year-over-year to $3.0 billion. Etsy marketplace GMS also decreased by 5.3% year-over-year to $2.6 billion. Active buyers increased by 1.9% year-over-year to 91.6 million, and Etsy ended the quarter with $1.1 billion in cash and cash equivalents. The company expects a similar year-over-year decline in Q2 2024 GMS and anticipates modest acceleration in GMS in the second half of the year.
- Filer
- Etsy Inc. ETSY · NASDAQ
- Filed
- Accession
- 0001370637-24-000028
- CIK
- 0001370637
- Signal
- Medium impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$68.67
Next session
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Since filing
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Latest close
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Precedent
Previous filings from ETSY reporting the same item, with the next session's move:
Exhibits (1)
About Etsy Inc.
Etsy Inc. operates as an American e-commerce company dedicated to bringing handmade, vintage, and unique factory-manufactured items to a global marketplace. Its platform facilitates a connection between small business owners, artisans, and craft enthusiasts with a diverse customer base interested in one-of-a-kind goods and sustainable shopping options. Etsy’s primary function is to provide a virtual storefront for individual sellers to market their products, ranging across categories such as jewelry, home decor, clothing, and art, amongst others. By empowering entrepreneurs and small businesses, Etsy supports an ecosystem that champions creative expression and sustainability. Since its inception in 2005, Etsy has significantly impacted the retail sector by offering an alternative to mass-produced goods. Its user-friendly platform and community-centric approach have cemented its role as a leader in the online marketplace for bespoke and artisanal products. Additionally, Etsy's focus on supporting ethical production and fostering a responsible business environment underscores its commitment to social and environmental responsibility.
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