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Dec 31, 2022
Etsy Q4 2022 Earnings Report
Etsy's Q4 2022 performance showed resilience amidst macroeconomic headwinds, maintaining pandemic gains and delivering double-digit revenue growth with excellent profitability.
Key Takeaways
Etsy, Inc. reported a 12.6% year-over-year increase in consolidated revenue, reaching a record $807.2 million in Q4 2022. Consolidated net income was $109.5 million, with diluted earnings per share of $0.77.
Consolidated GMS was $4.0 billion, down 4.0% year-over-year.
Consolidated revenue reached a record $807.2 million, up 12.6% year-over-year.
Consolidated net income was $109.5 million, down 32.2% year-over-year.
Consolidated non-GAAP Adjusted EBITDA was a record $227.2 million, up 3.8% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Etsy’s guidance for the first quarter of 2023 includes GMS of $2.95B to $3.15B and revenue of $600M to $640M, with an Adjusted EBITDA margin of 26-27%.
Positive Outlook
- Etsy’s “Right to Win” strategy remains robust and relevant.
- Deep conviction in our ability to compete by strategically differentiating our value proposition.
- Focus on sellers’ unique items.
- Best-in-class search and discovery.
- Human connections and a trusted brand.
Challenges Ahead
- Guidance assumes currency exchange rates remain unchanged at current levels.
- Reconciliation of Adjusted EBITDA and Adjusted EBITDA margin guidance to the closest corresponding GAAP measure is not available without unreasonable efforts on a forward-looking basis.
- High variability, complexity, and low visibility with respect to the charges excluded from these non-GAAP measures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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