The earnings call reflects a mixed picture for Etsy in 2024. While the company achieved record revenue and maintained strong profitability, it faced significant challenges with declining GMS and a decrease in active sellers. Strong growth in Depop and improvements in Etsy Ads were notable positives. The company is optimistic about its strategic pivot towards long-term growth and differentiation, but near-term challenges persist.

Company Guidance

In the Etsy earnings call, guidance for 2025 highlighted several key metrics and strategic pivots aimed at returning the company to growth. For the full year 2024, Etsy reported a consolidated Gross Merchandise Sales (GMS) of $12.6 billion, down 4% year over year, with record revenue of $2.8 billion, a 2% increase. The adjusted EBITDA was $782 million, with margins of 27.8%. The company plans to continue leveraging its differentiation in creative goods, aiming to enhance the Etsy app's conversion rates, currently accounting for over 40% of marketplace GMS. Etsy's strategy includes expanding the use of Large Language Models (LLMs) to improve item quality evaluation and personalization, intending to fuel purchase frequency and drive GMS growth. The company aims for a take rate of approximately 23% in Q1 2025 and consolidated adjusted EBITDA margins of 25-26%, while maintaining marketing spend as a percentage of revenue constant year over year. Furthermore, Etsy anticipates easier comparisons in the second half of 2025, with a balanced focus on near-term GMS initiatives and longer-term strategic investments.

Record Revenue in 2024

Etsy achieved record revenue of $2.8 billion in 2024, marking a 2% increase year over year.

Strong Profitability

Adjusted EBITDA reached $782 million with margins of 27.8%, indicating strong profitability.

Depop's Significant Growth

Depop experienced a 32% increase in GMS year over year, with the US market growing by 60%, making it the fastest-growing US fashion resale player.

Etsy Ads Contribution

Etsy Ads was a key driver of services revenue growth, contributing to a consolidated take rate of 22.8% in Q4, up from the prior year.

2025 Product Development Strategy

Etsy plans to rebalance its product development strategy to accelerate product experimentation and focus on near-term growth while continuing long-term improvements.

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Etsy (ETSY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ETSY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q1)	0.47 / -	0.48	―	―	―
Feb 19, 2025	2024 (Q4)	0.93 / 1.03	0.62	66.13% (+0.41)
Oct 30, 2024	2024 (Q3)	0.53 / 0.45	0.64	-29.69% (-0.19)
Jul 31, 2024	2024 (Q2)	0.44 / 0.41	0.45	-8.89% (-0.04)
May 01, 2024	2024 (Q1)	0.48 / 0.48	0.53	-9.43% (-0.05)
Feb 21, 2024	2023 (Q4)	0.76 / 0.62	0.77	-19.48% (-0.15)
Nov 01, 2023	2023 (Q3)	0.50 / 0.64	-7.62	108.40% (+8.26)
Aug 02, 2023	2023 (Q2)	0.42 / 0.45	0.51	-11.76% (-0.06)
May 03, 2023	2023 (Q1)	0.51 / 0.53	0.6	-11.67% (-0.07)
Feb 22, 2023	2022 (Q4)	0.80 / 0.77	1.11	-30.63% (-0.34)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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ETSY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 19, 2025	$57.29	$51.53	-10.05%
Oct 30, 2024	$47.99	$51.44	+7.19%
Jul 31, 2024	$65.14	$60.16	-7.65%
May 01, 2024	$69.74	$59.24	-15.06%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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