August 27, 2016 5:27 AM ET

Internet and Catalog Retail

Company Overview of Etsy, Inc.

Company Overview

Etsy, Inc. operates a marketplace to make, sell, and buy goods online and offline worldwide. The company through its technology-based platform connects a community of sellers and buyers. Etsy sellers offer goods in various online retail categories, including jewelry, stationery, clothing, home goods, craft supplies, and vintage items. The company was founded in 2005 and is headquartered in Brooklyn, New York.

55 Washington Street

Suite 512

Brooklyn, NY 11201

United States

Founded in 2005

921 Employees

Phone:

718-855-7955

Key Executives for Etsy, Inc.

Chairman, Chief Executive Officer and President
Age: 43
Total Annual Compensation: $300.0K
Chief Financial Officer
Age: 45
Total Annual Compensation: $318.3K
Chief Technology Officer
Age: 45
Total Annual Compensation: $268.3K
General Counsel and Secretary
Age: 60
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2015.

Etsy, Inc. Key Developments

Etsy, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2016; Revised Financial Guidance for 2015; Reiterates Financial Guidance for the Three Years Period from 2016 to 2018

Etsy, Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2016. Total revenue was $85.3 million, up 39.1% from $64.4 million a year ago, driven by growth in both Marketplace and Seller Services revenue. Net loss for the second quarter of 2016 was $7.3 million or $0.06 per diluted share, compared with a net loss of $6.4 million or $0.07 per diluted share in the second quarter of 2015. Etsy's net loss in the second quarter of 2016 included a $6.4 million foreign exchange loss, an income tax provision of $4.3 million and interest expense associated with the build-to-suit lease accounting related to new headquarters, all primarily non-cash. Non-GAAP Adjusted EBITDA for the second quarter was $14.0 million, and grew 245.7% from $4 million a year ago. Net cash provided by operating activities was $17.2 million in the second quarter of 2016 compared with net cash generated of $4.7 million in the second quarter of 2015. The increase in net cash from operations for the quarter was mainly driven by revenue growth and leverage in operating expenses. Income from operations was $4.7 million against loss of $3.8 million for the same period of last year. Loss before income taxes was $3 million against $1.4 million for the same period of last year. For the six months, revenue was $167.2 million against $119.9 million for the same period of last year. Income from operations was $11.45 million against loss of $8.6 million for the same period of last year. Income before income taxes was $11.8 million against loss of $27.3 million for the same period of last year. Net loss was $6.12 million or $0.05 per diluted share against $42.9 million or $0.61 per diluted share for the same period of last year. Purchases of property and equipment was $26.3 million against $4.5 million for the same period of last year. Adjusted EBITDA was $28.8 million against loss of $10.7 million for the same period of last year. The company is increasing full-year 2016 guidance for GMS, revenue and Adjusted EBITDA margin in light of strong performance in the first half of the year and expectations for the remainder of the year, and it is reiterating gross margin guidance for 2016. For 2016, the company now expects GMS growth of 15-17%; revenue growth of 25-28%; gross margin of 64-65%; and Adjusted EBITDA margin of 13-14%. For the three year period from 2016 to 2018, the company now expects GMS growth of 13-17%; revenue growth of 20-25%; gross margin of mid 60%; and Adjusted EBITDA margin (by end of 2018) to be in high teens.

Etsy, Inc. to Report Q2, 2016 Results on Aug 02, 2016

Etsy, Inc. announced that they will report Q2, 2016 results at 5:00 PM, Eastern Standard Time on Aug 02, 2016

Etsy, Inc., Q2 2016 Earnings Call, Aug 02, 2016

Etsy, Inc., Q2 2016 Earnings Call, Aug 02, 2016

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