Etsy reports Q3 net loss of $963.1M on $1B goodwill impairment; revenue up 11.7%

ETSY INC

2022-Q3 EPS reported -$6.33 revenue$1,758,870,000

Net loss of $963.1M vs prior-year income; diluted EPS loss of $7.62 includes $8.20 impairment impact.
Consolidated revenue $594.5M (+11.7% YoY); GMS $3.0B (-3.3% YoY, +0.7% currency-neutral).
Non-GAAP Adjusted EBITDA $167.8M, margin 28% (-500 bps YoY).
Etsy marketplace GMS $2.6B (-3.8% YoY; +134% vs Q3 2019); acquired ~6M new buyers.
Repurchased $151M in stock during Q3; ended with $1.1B cash and investments.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ETSY INC reported for the quarter ended September 30, 2022 results: revenue $594.5 million, net income $963.1 million, EPS $(7.62).

Period: for the quarter ended September 30, 2022
Revenue: $594.5 million
Net income: $963.1 million
EPS: $(7.62)
Result: reported results

Exact text from the filing

• Consolidated revenue was $594.5 million, up 11.7% versus the third quarter of 2021, with a take rate (i.e., Consolidated revenue divided by Consolidated GMS) of 19.8%. This revenue performance includes the Etsy marketplace transaction fee increase which went into effect on April 11, 2022. • Net loss was $963.1 million, down $1.1 billion year-over-year, reflecting an impairment charge of $1.0 billion in aggregate to the goodwill of Depop and Elo7. Diluted loss per share was $(7.62), of which $(8.20) is the impact of the impairment charge.

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Source: SEC EDGAR

accession 0001370637-22-000078

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