ETSY Third Quarter 2021 Earnings Report
ETSY reported third-quarter 2021 earnings on November 3rd, 2021. ETSY Reported 18% Increase in Consolidated Year-Over-Year GMS Growth and 18% Year-Over-Year Revenue Growth.
Consolidated GMS was $3.1 billion, up 17.9% year-over-year; while Etsy marketplace GMS was $2.7 billion, up 12.4% year-over-year. Excluding face masks, Etsy marketplace GMS grew 23.7% year-over-year. Consolidated revenue was $532.4 million, up 17.9% versus the third quarter of 2020.
Net income was $89.9 million, down 2.0% year-over-year, with diluted earnings per share of $0.62.
“Non-GAAP Adjusted EBITDA was $174.2 million, with Non-GAAP Adjusted EBITDA margin (i.e., Non-GAAP Adjusted EBITDA divided by consolidated revenue) of 33%, down 100 basis points compared to the third quarter of 2020, as we invested in the business. We ended the third quarter with $907.2 million in cash and cash equivalents and short- and long-term investments.”
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