Etsy, inc. reports fourth quarter and full year 2018 financial results electricity grid map uk


Our strong financial performance in the fourth quarter and full year of 2018 reflect the successful execution of our product, engineering, and marketing efforts during the period, said Rachel Glaser, Etsy, Inc. Chief Financial Officer. We grew and strengthened our business, returned capital to stockholders, and finished the year in a strong cash position enabling continued growth investments.

• We delivered a strong holiday shopping period in the fourth quarter. In particular, GMS gas dryer vs electric dryer calculator from Thanksgiving through Cyber Monday, the five key shopping days, was up 30% compared to the same period last year, driven primarily by product launches, marketing, and improved landing page experiences. Among other initiatives, we improved the browsing experience by utilizing discovery badges that guide buyers throughout the marketplace and through the Etsy Gift Finder, which enabled buyers to find unique items based on personalized inputs.

• International GMS was 36% of overall GMS, and increased 32% year-over-year on a currency-neutral basis, driven by GMS between U.S. buyers and international sellers and by our fastest growing international trade route, international domestic, which is GMS generated between a non-U.S. buyer and a non-U.S. seller both in the same country. Within the international domestic trade route, the United Kingdom, one of our gasco abu dhabi six core markets, reached record GMS levels during the quarter.

• Year-over-year aggregate conversion rate increased for the fifth consecutive quarter led by strong performance across all three platforms: desktop, mobile web, and mobile app. For relative performance, in the fourth quarter of 2018, our mobile web conversion rate was about half the conversion rate on desktop, and the conversion rate on mobile app was about the same as the desktop conversion rate.

• Total operating expenses were $113.4 million in the fourth quarter of 2018, up 53.8% year-over-year. The increase in operating expenses was driven primarily by digital marketing focused on driving GMS growth, and additional expense in connection with certain employee departures, including stock-based compensation expense, impacting product development gas and sand.

• Non-GAAP Adjusted EBITDA for the fourth quarter of 2018 was $51.4 million and grew 47.5% year-over-year. Non-GAAP Adjusted EBITDA margin (i.e., non-GAAP Adjusted EBITDA divided by revenue) was 25.7% in the fourth quarter of 2018, up 10 basis points year-over-year. Adjusted EBITDA performance was driven primarily by revenue growth related to changes in the Company’s pricing model.

Etsy is not able, at this time, to provide GAAP targets for gas x strips ingredients net income margin for 2019 because of the unreasonable effort of estimating certain items that are excluded from non-GAAP Adjusted EBITDA margin, including, for example, provision or benefit for income taxes and foreign exchange gain or loss, the effect of which may be significant.

Etsy will host a webcast to discuss these results at 5:00 p.m. ET today. To access the live webcast and accompanying slide deck, please visit the Etsy Investor Relations website,, and go to the Investor Events section. To join the call by phone, please dial 1-855-852-1946 (toll free) or 1-720-634-2903 (toll) and use the passcode 1559518. A replay will be available through the same link following the conference call, or by dialing (toll free) 1-855-859-2056 or 1-404-537-3406 (toll) with the passcode 1559518 starting at 8:00 p.m. ET tonight through March 11, 2019.

As previously announced, Etsy’s Investor Day will be held on March 7, 2019. Key members of Etsy’s leadership team will host a series of presentations beginning at 9:00AM Eastern Time until 12:30PM Eastern Time. Webcast registration is open and can be found on the Investor Events section of our Investor Relations website,

Etsy, Inc. is the 4 gas planets global two-sided marketplace for unique and creative goods. Our mission is to Keep Commerce Human, and we’re committed to using the power of business and technology to strengthen communities and empower people around the world. We connect millions electricity and magnetism study guide 8th grade of buyers and sellers from nearly every country in the world. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs.

Etsy has used, and intends to continue using, its Investor Relations website and the Etsy News Blog ( to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Etsy News Blog in addition to following our press releases, SEC filings and public conference calls and webcasts.

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements relating to the impact of our financial guidance and key drivers thereof. Forward-looking statements include all statements that are not historical facts. In some cases, forward-looking statements can be identified by terms such as anticipates, believes, could, estimates, expects, intends, may, plans, will, or similar expressions and the negatives of those words.

Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. These risks and uncertainties include: (1) the 3 main gas laws fluctuation of our quarterly operating results; (2) our ability to implement our business strategy; (3) our ability to attract and retain an active and engaged community of Etsy sellers and Etsy buyers; (4) our history of operating losses; (5) macroeconomic electricity trading strategies events that are outside of our control; (6) our ability to recruit and retain employees; (7) the importance to our success of the trustworthiness of our marketplace and the connections within our community; (8) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of Etsy sellers and Etsy buyers; (9) the effectiveness of our marketing efforts; (10) the effectiveness of our mobile solutions for Etsy sellers and Etsy buyers; (11) our ability to expand our business in our core geographic markets; (12) regulation in the area of privacy and protection of user data; (13) our dependence on third-party payment providers; and (14) the potential misuse or disclosure of sensitive information about members of our community and the potential for cyber-attacks. These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, and subsequent reports that we file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may d cypha electricity make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur.

We revised the Consolidated Statement of Cash Flows for the year ended December 31, 2017 to correct gas prices going up 2016 the presentation of the effect of exchange rate changes on cash. This revision resulted in an increase (decrease) of $1.7 million in cash flows from operating activities, $3.1 million in cash flows from financing activities, and $(4.8) million in effect of exchange rate changes on cash in the year ended December 31, 2017. This revision did not impact the Consolidated Statement of Operations or the Consolidated Balance Sheet. We have concluded that the effect of this revision was not material to any of our previously issued financial statements.

In connection with the adoption of Accounting o gastro Standards Codification 606 —Revenue from Contracts with Customers, we renamed our revenue categories Marketplace and Services revenue. Marketplace revenue represents the fees we charge sellers to list items in the marketplace, the fees we charge for transactions between buyers and sellers, and the use of Etsy Payments by our sellers to process payments. Services revenue, formerly called Seller Services revenue, is derived from the optional services we provide to our sellers, which include Promoted Listings, Etsy Shipping Labels, Pattern, and Etsy Plus. Revenue from Etsy Payments, our payments processing product, formerly included in Services revenue, is now included in Marketplace revenue because Etsy Payments is required to be used by Etsy sellers in the countries where it is available. All numbers presented in this press release reflect this reclassification.