- Etsy press release ( NASDAQ: ETSY ): Q4 GAAP EPS of $0.77 misses by $0.03 .
- Revenue of $807.24M (+12.6% Y/Y) beats by $55.12M .
- Consolidated GMS was $4.0 billion, down 4.0% year-over-year and down 0.7% on a currency neutral basis; Etsy marketplace reported GMS of $3.7 billion, down 3.5% year-over-year and up 145% on a three-year basis.
- The Etsy marketplace's GMS accelerated on a year-over-three year basis in the fourth quarter and grew year-over-year on a currency neutral basis during Cyber 5.
- GMS per active buyer on a trailing twelve month basis as of December 31, 2022 declined from the prior year to $132 as strong COVID-19 impacted periods rolled out of the metric. GMS per active buyer has grown 27% since 2019, and finished the year at well above pre-pandemic levels.
- We acquired approximately 9.5 million new buyers in the fourth quarter.
- GMS from transactions where either a buyer or seller or both were outside of the U.S. represented 45% of overall GMS, and increased 5% year-over-year on a currency-neutral basis.
- GMS from paid channels was 22% of overall GMS, expanding about 360 basis points compared to the fourth quarter of 2021.
- We ended the year with $1.2 billion in cash and cash equivalents, short- and long-term investments. Under Etsy's stock repurchase program, during the quarter Etsy repurchased an aggregate of approximately $150 million, or 1,343,260 shares, of its common stock.
- Q1 Outlook: GMS: $2.95B to $3.15B; Adjusted EBITDA margin: 26-27%.
- Shares +4.58% .
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Etsy GAAP EPS of $0.77 misses by $0.03, revenue of $807.24M beats by $55.12M