Etsy added 7 million new buyers in Q3, with revenue exceeding 530 million!

Recently, e-commerce platform Etsy announced its third-quarter 2021 results, with its market GMS increasing by 23.7% year-on-year .

According to the published results, its consolidated GMS reached US$3.1 billion, a year-on-year increase of 17.9%; market GMS reached US$2.7 billion, a year-on-year increase of 12.4% .   ( Excluding masks ) Etsy marketplace GMS increased 23.7% year-over-year ; the GMS per active buyer on the Etsy marketplace increased 20% year-over-year over the past 12 months ; the number of new and reactivated buyers who did not purchase was approximately 11 million .

Etsy said that although the growth of new buyers declined year-on-year, the number of new buyers in the third quarter still increased by about 7 million . Compared with the pre- epidemic level, the number of new buyers each quarter continues to increase significantly . Buyers who have purchased for 6 days or more and spent more than $200 in the past year have increased by 65% ​​year-on-year, continuing to be the fastest growing buyer group on the platform .

In the third quarter, Etsy 's GMS from paid channels accounted for 17% of the total GMS, down 200 basis points from the same period last year ; comprehensive revenue reached US$532.4 million , up 17.9% from the same period last year ; net income was US$89.9 million, down 2.0% year-on-year, and diluted earnings per share were US$0.62. Etsy said its net income decline was due to the acquisition of Depop and Elo7 .

Non- GAAP Adjusted EBITDA was $174.2 million, and non-GAAP Adjusted EBITDA margin (i.e., non-GAAP Adjusted EBITDA divided by consolidated revenue) was 33%, a decrease of 100 basis points from the third quarter of 2020. Etsy ended the third quarter with $907.2 million in cash and cash equivalents and short-term and long-term investments.

Josh Silverman, CEO of Etsy, Inc., said that last year, Etsy performed significantly, exceeding the benchmark of the e-commerce industry, and this year the company will maintain this growth and consolidate its current market share . Rachel Glaser, CFO of Etsy, Inc., said that revenue in the third quarter of this year reached $532 million, reflecting the increase in Etsy consumer demand and purchase frequency. Next, the company will invest in products and marketing to increase its visibility and improve conversion rates .

Etsy

Q3

Revenue