Thanks, so positive and that business. metrics. in had experience and has that to remained demonstratively performance Etsy's performance do customer for believe it's the meaningful volatile to a share improve outlook you and XXXX, impact our environment. a Deb. our the this financial evening our significantly speak accident on happy ways We no healthy again, team was latest in Etsy our able We're Once with to in
we've continued today. serves of well growth proud also us the believe focus cost the over we and years past which We're profitable had five discipline, on especially
to our the the Win investment in business our discipline strategy of Right and retain strategy, our model. of Our pandemic and ability to supports of our belief gains the resiliency focus relevancy
season making GMS the Saturday year Business the particularly the with We neutral with a sellers in GMS year associate Small days Etsy our belief fourth that a supporting three-year over strong grew impact. holiday marketplace helped during note Etsy make buyers strong Cyber quarter. performance on bright. our and currency year-over-year and accelerating basis small Giving X. and positive a The Etsy high ended and had Tuesday, on shopping on
We but ad which the to and items stops in sellers U.S., season holiday Germany, moments, increased the seller types in cyber included Germany; out and giftable purchase new sales optimized help for have in and the Etsy our mind for least, campaigns enhances U.K. possible, annual spotlighting of and U.K., of program, moments, protection the sellers. last, event, peace best budgets, pulled all out-of-home our certainly participation selling people, buyers and tools. educational all campaigns well-crafted not And our which
the flat non-GAAP later quarter and about finish back of increase the strong from having Rachel XX%; as year us of fee financials prior $X.X prior $XX.X delivered transaction billion, of adjusted down of up the This we will, million, essentially EBITDA XXXX, into business. course, to about billion, year; fourth $XXX review slightly reinvested revenue GMS Etsy of record consolidated most with on. enabled the the
at our grown the how undoubtedly Etsy. a sustain areas the important was profitable fewest, to structure Xx for year And were nearly as as size will Visible free what about From we've we challenging during now top-line a grow business. we been the large cash believe continue in most e-commerce our eye we're an and careful we've in investing and flow perspective, well pre-pandemic. towards with growth strong cost for
market discipline, us business matter importantly, size ahead. have conviction while we And opportunity ball, lie what of no the focus believe up proud this sets performance truly don't of a our sustained our it's to crystal the our that conditions gives I'm performance. us that well and
we as really have marketplace saw here. performance in that maintaining most up through the summed went face Investment in Etsy That enormous our core is of our off, headwinds. XXXX, paid gains of you and
buyers as as in and twice build spending the many Shoppers we're XXXX. nearly and have with we continuing We Etsy us are did to more habit. Etsy, active more coming frequently to
are to buyers' and keep e-commerce relationship have headwinds hearts, two increased. sellers. deepened the earning retain we shown cohorts in seen our addition Etsy's that these as place that human, believe we In also believe even the much our the and during We've past the Etsy and and world something needs we've different. of that enduring years Etsy mission meet commerce achieved is gains both to powerful customer seller with reopened offers pandemic we
gains, to ways maintaining last grow year. important in in fact, did, we our addition In some very
the joys a male year. and to in reactivated most as million identify of up examples. Etsy buyers now XX our XXX% men XXXX more Strategies XX few million the to one in resulted active reactivated XX who highest since prior at months, introduce Just level over who ever year-end, We the buyers lapsed yet. at buyers
payment XX% That's the standout a local investments double-digit was and to making methodically world. strides local to than GMS increasing given for core We real market, India, newest approximately made are of a with we XXX,XXX region healthy performer in XXXX, important in in Germany especially rate available which, two-sided remarkable, conditions marketplace. the foundation larger of build macroeconomic X growing our in Xx our million progress pretty XXXX. that Etsy sellers at a growth over thanks options, now over with as We're now in over buyers. for listings, to vibrant
in true alternative share We metrics bring we our of indicative expanding the estimated to commoditized world trillion these early $X mission how believe that and a of to are just our are TAM shopping. wallet in our
our come of to attract and communities, once talent. we creative we cared for support result, planet XXXX. I'm and grateful people, to the again, our also how And able incredibly be world-class entrepreneurs as work proud, world. continue We around our in a retain to to
is support. even offer as devastating now of the by part when XXXX, means start already course, to support Being we rest in up by the stepped one and, California of Etsy impacted step and to the floods that try suffering, Turkey. part And of our has sellers us earthquakes a up community
see our for in we which want progress we entire goals. you'll our very there's keep house world. in make aligned people core, work a We goals, to as more to And where make of the to do remain the growth driver our connect we shop can brands. marketplaces mission an to see know difference. to our human As so we At XX-K, can well much our commerce impact of want to this our continue on values, business integral they believe make ESG our with excellent and their they soon-to-be-filed
relevant would Win without We're which strategy we this slide. Etsy unveiled strategy us our No presentation complete be XXXX, enabled robust Right and in remains confident that today. has to The and ROI-focused deepen our in technology, to competitive our and will to pay product, has and time continue advantages marketing, disciplined approach market off. to that investments and gain share people over
can that are sales customer working teams, experience investors. call set to where for in achieve financial and result ways ways in a squad, a materially year, better we believe returns of with improvements pick single specific target. tasked for we experiences what customer material often make a we Etsy improve that in sellers buyers, Each select experiences we more a in better for
over we to ads revenue, more often learn strong push above ROAS For for XX% demonstrably GMS freedom while million drove bias of than one buyers, quickly can make action. more that keeping to and lifted to our fast audience, a They the whether great test target relevant example, so seller typically release levels, to for or in Squads in improving deal Etsy's week, our moved measure fast the a metric. XXXX, Ads Etsy release per which and incremental we has target experience customers. of while team $XXX tasked the annualized have
to the ensure and the Importantly, portfolio experiences investments. meet customer by made this monthly of we're doing or across performance our entire we degree payback By to daily not the improve meet to and forward impacting they're to adjust work, work our moving from targets. ball able getting review each squad. accordingly of our progress we're understand How we're our
It's approach services, take shown experiences, stack, Martech and slide, on and core note, and and member work seller payments, performance not trust important only and our safety, same we site teams as so on. this on that enablement fulfillment, to the across the our buyer
wallet, purchase. Last Efficiency, in, want; keep reliability, that year, share centered a our know we inspiration, get of to and said and stress-free you quickly buy already ensuring dependable we'd easily Right and experiences more. you greater get having Win and investments on in back out order earn to for helping you engaging what a and you when fun coming
how of to outlined with share come a easy just to run later. we the in inspirational through users our items more performance. very how Etsy groups, for I've going into great of buyer to tangible to A are example back which I'm examples shows up organize made collections, way or is some approach
In from other. community focus for of more a inspire to each a year, usability creation display to XXXX, useful And the were and shifted million journey buyer number we that to increase ways make of we XX set collections. In to the to created. collections develop our XXXX, goal and collections part
of being it. follows, the Our increase teams the increase delivered XX% and a results, added XX% increase including collections a to number in items shop number excellent XX% favored of a in in items
powerful. more to and personalize work All of engage this our experiences even makes their buyers
plan find and items save XXXX, making purchase targeted we shops shoppable, buyers focus new sales and building well discover, to on as and and as follow In for inspiring more get to collections updates. to personalized avenues to
the improved in so conversion more ways. efficient. made buyer average experience many experience in Improvements rate and search the in We lifts spend. buyer buying We experience Etsy drove the site-wide
those made buy an our information Add visit last page the search and result and detailed sales favorite Cart search now on listing faster shoppers, the my for of the directly from driving page. buying on This more the needing for buyers insight feel experience improving page was year they hence have more to the result rate some convenient One that sellers. enough on examples button conversion without while based to putting to
site particularly year's is work to improve about performance. team Our excited last
drove to For incremental and one we trusted reduced provide our page delivery site-wide much performance transparency were GMS. nearly in efforts included so progress full times million And clear more around Etsy XXXX and other policies. return times and This more cut made example, in which listing $XXX launching continued nearly by making level reliable. search, experience we wins These the load second. in
XX%. the materially for customer XX% of score protection of customer times the At customer than on clarity over Resolution purchase visible from in return level, less from clearly at XX% of focusing XX% to listing dropped had And up Etsy of started nearly is a policy effort when XXXX, seller issues experience. we our Etsy policies end fall. listings returns the the impacting already as improved accept
to ways equally targeted have We awareness, in on an disciplined buyers attract Dollars our brand, and get back. coming our approach to buyers, differentiate we engagement, get strategic fuel new build highly marketing and the spent investments. payback
through heavily channels. strategies As capture video, we've global you upper know, millions TV XXXX, the and leaned hearts of brand flywheel and marketing into of elevates of digital since that buyers other create funnel more the effectiveness a our to
As intent, significantly see, loyalty a have the moved particular, purchase critical efforts on on you indicator. leading awareness and, in needle brand can these and
so, year. in a associate the we Etsy don't. markets, much help Etsy to While to among And opportunity specific to majority buyers the core with who already continue marketplace XX our more so those and we've occasions do those become who see shop top throughout both purchase of
been from buyers. of terms in returns as as in-period We've spend value lifetime strong brand well our of getting GMS
work, effort of funnel. top throughout funnel brand to the addition elevated we've investments deepened and In our
$XXX million affiliate the advertising to delivered in data and channels, GMS improving engine improving team optimizations. Our by partners feeds search annualized incremental our
from campaigns. And about new out-of-home continue e-mail lean $XXX in seeing from returns measuring We're deeper. and ROI just into million before annualized fun positive fact, GMS going to and We'll podcasting. we channels these incremental carefully, like drove our improving testing
for buyers many be are Etsy, if ask much should opportunity the us. already shopping more this to of opportunity know all often potential who the and there's love build the Absolutely. on improve aren't habit world who to more around marketplace. yet, We believe progress, Etsy millions investors but there Etsy and those With so still
For objectives. on Right strategy to team's XXXX, Win work our we've centered and these our
new think welcoming or or First, new are tastes we can buyers coming When no as continued feel the they about intend an Etsy. which to buyers where the us. how interests the of see and came in to from they foster time over they're meet come country in we we they help channels at their spending how new matter lever. We home, growth joy growth the years, buyer important to them
Second, gets This and better to really you and visit, Etsy the about you as inventory how you the is the deepening more curiosity our engage, more personalization more engagement. with such buyer our advancing and suggestions. our you delight the experience purchase shop,
Among us. transacting sure have Etsy. us, world. Third, platform. on with we'll the protection buying have from while mind to ensuring X buying invest you're make entrepreneurs to buyers purchase peace when around in both other of When you building million on and on buyers even existing trust and continue when safe and one of we Etsy a build shop creative to help in foundation initiatives, trusted We want new the of Etsy, more sellers confidence
We'll creative manage to have as most the experience and efficiently buyers. to juggle. possible out love sell keep they And shops much so and possible, their money time get while fourth, investing so absolute platform sellers being effectively delivering them of to their best to on, the help the entrepreneurs as
We about have go as so road we much tell that map XXXX. on we're through you excited our to
In joined and which House Reverb EloX, to integrate of Depop our and in Brands. XXXX, we worked Etsy
we're given of While differed, specific potential and various of dynamics, of the evolution performance marketplace their to stages each unlock marketplace each. the excited
experience of optimizing market Similar makers more invested to to musical less three-year its continued In instrument outpace instrument and vast in on customized still the pandemic international XXXX, majority the a market. XXXX Reverb types to of maintained X% basis, the represents conversion music a of delivering in and meaningfully Etsy, than yet rate, gains Reverb driving total musical growth. different
users. Depop unique has registered buy become and to XX fashion a community-powered fashion marketplace sell million with approximately
embedding and and dynamics, Depop's While reach on of very fluctuations factors establishing core including transact. XXXX and Kuthy exchange other buyer focused are early reigniting her the resale we the impacted the opportunity. to trust top-line improving growth value the still team business, reopening, improving for competitive relevance web days by believe search experience, economics performance, discovery, of the and and rate it's signals
sweet began For EloX, return events, led and, Brazil performance consumer resumption the in-person see in mobility in of some easing EloX of spot, celebration to pandemic year improvement. a the and therefore, business last to COVID-XX a to the
EloX faster broader campaign aimed brand areas of marketing conversion access investment including testing more it affordable EloX also online Key XXXX, began as improvements for sellers and rate strategy. an driving to awareness during and a marketing shipping. giving builds at
more Similar in of consumers, believe consideration to can Etsy, that EloX destination we moments. its a life's turn expand becoming set Brazilian more for to the mind special they frequently of
we enough our that your a quest remain for our right doing we'll journey. I did matters that the this achieve and sustained for aspiration enough that on this, In to us. often different hyper something enough to focused loyalty. statement starting to better customer I is year, aspiration Last point make more said win ago feel bold year confident Etsy is it was even e-commerce a
our in your our team better your and our global sell to XXXX continued for thank making places to shop hard want shareholders to work support. marketplaces all for I and incredible
resilience, world differentiation a proven the gives the While comfort eye keep a that prize. fairly we've remains we our and lot place, unpredictable of our us as and on
turn Rachel. With that, it I'll over to
