Etsy’s shares rose 5.4% after the company reported 8.8% year-over-year marketplace GMS growth and said active buyers returned to growth for the first time in two years. Management also pointed to improving GMS per active buyer and an estimated 2-percentage-point contribution from personalization improvements to annualized GMS growth.
- Marketplace GMS was $2.6 billion, up 8.8% year over year; revenue was $692 million on a 26.2% take rate.
- Adjusted EBITDA was $210 million, a 30.4% margin.
- Active buyers grew year over year for the first time in two years, while active sellers grew at their fastest rate in two years; management also cited improving seller retention.
- Personalization improvements were estimated to have contributed approximately 2 percentage points to the annualized year-over-year GMS growth rate by Q3.
- Management said some external GMS tailwinds remain, while its strategic initiatives are contributing more; the transcript also highlights continued investment in discovery, marketing, and buyer and seller support.
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