NYSE$ETSY
Etsy Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Etsy's Q4 2021 performance was marked by record levels of GMS, revenue, and adjusted EBITDA, driven by strong consumer demand and successful holiday season initiatives.
Etsy, Inc. reported a strong fourth quarter and full year 2021, with record GMS of $4.2 billion, up 16.5% year-over-year, and revenue of $717.1 million, up 16.2% year-over-year. Net income increased to $161.6 million, and non-GAAP Adjusted EBITDA reached a record $218.8 million.
- Consolidated GMS reached a record $4.2 billion, up 16.5% year-over-year.
- Consolidated revenue was a record $717.1 million, up 16.2% year-over-year.
- Net income increased to $161.6 million, up 8.8% year-over-year.
- Non-GAAP Adjusted EBITDA was a record $218.8 million, with a margin of 31%.
Headline financials
Revenue & EPS history
Etsy · Revenue · Quarterly
$717M
Revenue by segment
Etsy · $717M total across 2 segments · Q4 2021
- Marketplace Revenue$541M+14.3%75.5%
- Services Revenue$176M+22.3%24.5%
Forward guidance
Etsy’s guidance for the first quarter of 2022 includes GMS of $3.2B to $3.4B, Revenue of $565M to $590M, and Adjusted EBITDA margin of approximately 26%.
Tailwinds
- Etsy can become the starting point for a buyer’s e-commerce journey.
- Double down on frequency and trust building initiatives that inspire buyers with an Etsy that feels more ‘made for you’ and reliable, to drive buyer and seller loyalty.
- Strengthening the foundation of our ‘House of Brands,’ scaling our infrastructure and safeguards to efficiently and sustainably power our growth.
- Fostering an equitable and productive environment for our people.
- Long-term growth strategy, focused on highly differentiated and defensible competitive advantages within what we believe is an enormous, $2 trillion total available retail market for our relevant categories in our core markets
Headwinds
- Times remain uncertain
- Assuming stable macroeconomic conditions, we currently expect lower GMS growth year over year in the first half of 2022 and higher GMS growth in the second half, given the more challenging comparisons in the first half.
- Continue to invest in our people, product development, marketing, technology, and important infrastructure to scale our business.
- High variability, complexity, and low visibility with respect to the charges excluded from these non-GAAP measures
- Unpredictable fluctuations based on unforeseen activity that is out of our control and/or cannot reasonably be predicted.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.8%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+2.4%
Avg return
30 days after
45%
20 / 44 earnings
Positive
+27.8%
Q4 2021
Best reaction
-32.8%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.2% | +1.4% | +7.4% | |
| Q4 2025 | +9.3% | +23.5% | +20.0% | |
| Q3 2025 | -12.5% | -18.3% | -27.5% | |
| Q1 2025 | -5.7% | -2.3% | +20.0% | |
| Q4 2024 | -10.1% | -7.1% | -21.3% | |
| Q3 2024 | +8.3% | +10.1% | +15.5% | |
| Q2 2024 | -6.8% | -14.1% | -14.6% | |
| Q1 2024 | -13.7% | -9.0% | -7.6% | |
| Q4 2023 | -6.9% | -5.2% | -10.6% | |
| Q3 2023 | -1.1% | +1.3% | +31.7% | |
| Q2 2023 | -15.9% | -14.4% | -24.3% | |
| Q1 2023 | -6.7% | -6.5% | -14.3% | |
| Q4 2022 | +5.4% | -3.4% | -14.4% | |
| Q3 2022 | +9.4% | +8.5% | +53.7% | |
| Q2 2022 | +12.5% | +11.1% | +11.7% | |
| Q1 2022 | -9.5% | -14.1% | -19.4% | |
| Q4 2021 | +27.8% | +35.2% | +13.6% | |
| Q3 2021 | +12.7% | +8.4% | -3.9% | |
| Q2 2021 | -4.2% | -3.9% | +15.7% | |
| Q1 2021 | -16.3% | -11.3% | -12.9% | |
| Q4 2020 | +5.3% | +14.0% | -3.2% | |
| Q3 2020 | -9.2% | -13.3% | +10.1% | |
| Q2 2020 | +0.7% | +3.8% | -13.7% | |
| Q1 2020 | +5.2% | +10.3% | +8.1% | |
| Q4 2019 | +16.1% | +17.9% | -22.5% | |
| Q3 2019 | -18.2% | -17.8% | -20.3% | |
| Q2 2019 | -10.9% | -17.4% | -21.2% | |
| Q1 2019 | -9.3% | -14.5% | -4.6% | |
| Q4 2018 | +21.1% | +28.4% | +15.6% | |
| Q3 2018 | +18.7% | +23.5% | +31.7% | |
| Q2 2018 | +5.5% | +10.9% | +14.1% | |
| Q1 2018 | -4.6% | -4.5% | +6.4% | |
| Q4 2017 | +19.8% | +21.7% | +32.9% | |
| Q3 2017 | +1.6% | +0.8% | +13.0% | |
| Q2 2017 | +8.1% | +11.4% | +16.3% | |
| Q1 2017 | -5.0% | +5.4% | +22.5% | |
| Q4 2016 | -16.4% | -20.3% | -18.7% | |
| Q3 2016 | -13.2% | -11.8% | -8.1% | |
| Q2 2016 | +16.7% | +16.1% | +16.2% | |
| Q1 2016 | +3.6% | — | — | |
| Q4 2015 | -0.6% | — | — | |
| Q3 2015 | -6.7% | — | — | |
| Q2 2015 | -32.8% | — | — | |
| Q1 2015 | -16.3% | — | — | |
| Q4 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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