Etsy Provides Long-Term Strategy and Five-Year Financial Targets at Inaugural Investor Day
PRNewswire 7-Mar-2019 11:46 AM
BROOKLYN, N.Y., March 7, 2019 /PRNewswire/ -- Etsy, Inc. (NASDAQ:ETSY), the global two-sided marketplace for unique and creative goods, today hosted an Investor Day at its headquarters, featuring members of its leadership team reviewing its strategy and initiatives.
At a meeting entitled, Unlocking Opportunity: the Path to Owning "Special," Etsy Chief Executive Officer Josh Silverman reviewed the company's plan to deliver sustained growth. Silverman commented, "In the long term, we believe we can further our sustainable competitive advantage around four key elements of our business that make us different - which collectively is our 'Right to Win.' These include our collection of unique items, best-in-class search and discovery, human connections, and trusted brand. We have a large and growing addressable market across Etsy's retail categories within our six core geographic markets, and believe our growth can continue to outpace overall ecommerce."
Etsy's Chief Financial Officer, Rachel Glaser, commented, "We believe our product improvements and investments lay the foundation for sustained growth over the next five years. We expect annual GMS to continue to grow in the range of 16-20%, and we currently anticipate that revenue will grow slightly faster than GMS. Etsy has been growing faster than the overall e-commerce market, and this outlook suggests we will continue to grow faster than the market. With a disciplined approach to investment and continued focus on optimization, we expect adjusted EBITDA margins to expand to 30% or higher over that time frame.
An event replay, along with supporting materials, can be viewed via an archived replay through the Investor Relations section of the Company's website at investors.etsy.com.
About Etsy
Etsy, Inc. is the global 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. We connect millions 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 was founded in 2005 and is headquartered in Brooklyn, New York.
Etsy has used, and intends to continue using, its investor relations website and the Etsy News Blog (blog.etsy.com/news) 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.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements relating to our financial performance over the next five years and key drivers thereof and market growth and opportunity.
Forward-looking statements include all statements that are not historical facts. 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 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 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 Annual Report on Form 10-K for the year ended December 31, 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 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.
Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements.
Investor Relations Contact:
Deb Wasser, Vice President, Investor Relations
Gabriel Ratcliff, Senior Manager, Investor Relations
Dahlia Welsh, Investor Relations Associate
ir@etsy.com
Media Relations Contact:
Kelly Clausen, Director, Corporate Communications
press@etsy.com
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SOURCE Etsy
