good and pleased million margin start was another $X.X the face about of strong XX.X%. of consolidated marketplace as our gains evening, in this maintained of We're Deb, our Revenue pandemic $XXX Etsy nearly EBITDA Thanks, and again on reporting XX% GMS to the adjusted past year. Etsy's grew to healthy stiff quarter, again at the headwinds. $X.X down a once was billion to quarter GMS billion. performance be X% was we've basis currency-neutral vast everyone. majority macroeconomic
to in as including March see buyers some the is comparisons, The increase midpoint in active marketplace some enabling review, Etsy the past quarters. period to marketplace consolidated volatility we Etsy in GMS green of experienced in above Rachel pandemic headwinds eased of and biometrics year-over-year shoots five the come first guidance. will in our move in the starting our February, As
the like faced resilience, but we We the in last different, business we enduring. the and feeling has with is has way thrived. offer both our our uncertainty, is and frankly, despite company. agility few ups believe we new the and model Etsy do In continued and evergreen something I our stand this apart which, something normal, years, downs, to believe because run we've all everything
up in for hard Summing than marketplace core knock Etsy Etsy once have barriers we'll in barriers plans three a work historically areas. our that your to These main XXXX, be every or summarized rather can while day. down made
they of us too often journey shopping for very when the item only somewhere else. their at specific First, can't think the buyers of find end needs or
it best and Second, our simply among to the about effort the post-purchase items. takes over third, too time XXX And much million find worry buyers things experience.
you bet that on it of depth of I better Etsy found many often around be yes. if I more creative you you merchandise, world. and might the something purchased to challenge possibly review yet how millions breadth question anyone And there's relevant, you we the be more answer we're should special and surprised recent more to often search more confident a doubts purchases our entrepreneur will on and Given have see that who value is similar buyers point, to your from to this whether if Etsy.
our our more barriers starting many for the to these a gain lesson we rate greater reach frequently. earn far As and we their aspiration e-commerce to buyers to the journeys. become wallet to more We of believe purchasing can of share point
flywheel and on where the the about down awareness driving plans most new you to welcoming transacting more in roadmap building today. our on, buyers buyers Etsy, platform efficiently us of buyers, This buyer with and they year on is love our of tell sell to our focused curiosity deepening when some excited of being markets. to at engagement, effectively instilling male joy product can more among marketplace I'm trust sellers female doubling core core our and seven side initiatives from We're the grow. two and
technology you central a better. and will inning to surge invest in roadmap of making here Etsy ask in obviously us are to see Many you is in, this big Improvements what search way.
large more For large the the driven is been we years, the result our today of thousands very several of enhancements AI the language text language of new today, grid cutting is answered all key experience. listings. at models and past or with further excited the past models to accelerate generative while technology edge based search a I've early with the Even potential word and couldn't still and surge use Etsy and transformation Etsy's six consistently we essentially innings. We've of years be user about for many
language can at will enable gotten a In to the utilize question the at it to better reformulation. right and set that on engines Rather curated search approaches. our query, us much result we so We've the search of better cycle reading of leaves, it natural keywords tea then Etsy manipulating ask to but than be the multi-model today. a results still repetitive expect the show more time right buyer future is
neural of combination graft multi-label used instant which more, We for an and investing search additional engine search, in engine much to are other learning search item, our technologies networks so technologies. be attributes with will identify models
our much AI you the shop. others. about It's will more that belief than Think in even and benefit so other are search perhaps way Why? as Etsy technology generative advances from
into Etsy salesperson party cocktail a a You walk walk to going cotton, you yell, and don't explain the are items in, you're place to in vibe, search on what chic the a the don't a to In that blue, shirt, at best They'll to certainly handful you options. and do show a store, fit the XX,XXX match shirt of looking recommend? you store you show a for And you the vibe. today. Brooklyn that salesperson expect way you
not search to shape like for on whatever duck a exactly not images buyers what are, Etsy? they of could find cat? us can such the to similar as, that more What show visualize ones What want the might if like human if but is XXX a time conversation real better buyers tell We'll you do help products Etsy. response imagining over to it results and that of the during in search in be if they planter. a we already have adjust intriguing their sale What particularly for us I aspect displayed bring in the e-commerce? if and could What items, could But that retail million you're way? boutiques initially chances you it and With easily.
even into the through impact these our conversational thinking search or While of how bring days enable more human advances further how can in can we're imagine early the help might how Etsy, aspect visualization marketplace seamless you product can discovery.
on human into engagement human is buyers to Summing language buyer Etsy on curiosity and those back pretty joy coming Tying it natural back we're progress up, Combining for welcoming for new and deepening -- with search brand Etsy. excited. us. to the of
For every you buyer, show Etsy we you. should of be able for best the to very
for in queries. place curated far you to reduce come more your and We tail often and head clutter your the have to the just to the queries not order organized more be be to opportunity
we of Etsy. cross-functional two that very best end, To that the exciting XXXX aim initiatives unlock in have to
we're calling at curation first, The scale.
library humans, have fueled dynamic and features. site pick for off-site thousand and strategies. the familiar fueled our be by Items of traditionally editors Etsy couple of editors with as select Etsy are we may content for by a These use on well marketing pick the curated experts. badges You features hundred we as specs merchandising throughout merchandise listings a
pick items provide those merch items policies to to are knows and with from rates true sellers very craftsmanship, our service. than Etsy that who higher well Because how Why? photographed inventory, show team select key adhere items. customer to badged best the conversion excellent display and meaningfully features non-badged are our
to market also into experts localization, we're the diversity experiences trends, how and of merchandise Our creating. incorporate know
Etsy with search. and experience to every that a the algorithms best to in our the perceived detect So curation better by our in best as working goal items sets a data of we humans together showcase highly train into quality feed search our teams merchandising of human way scalable the Etsy and of are AL to ML such
believe Etsy enable us perception looks you, will type type search buyers on easily like make brand help move on personalized of better buyer their more for from being time, also purchase means more make inspiration sellers enhance of quality and we what of each help Etsy. streams for this what for and insights to best the other work with item. Etsy, Over of recommendations, further share identify the to We'll
can we So our help over entire lift seller time, community.
at feel Etsy best of to it's we're a the that worth area brand related second make set more experiences on working The creating awareness Etsy our organized. data. unlock taking look the stage, shopping is To to
the awareness largest our aided is high, Etsy's While now particularly U.S., in quite market.
consumers When Etsy, occasions. and our top-of-mind top believe warrant of the consideration. in opportunity style a lack will only about of question, experience XX% greater the and being differentiated both we gifts. name name the significantly some Only to we ask of purchase shopping or us most for to This X% tremendous places represents for merchandise popular home We shop awareness have about spite us. buyer name open-ended furnishings for these for
information understand inspiration. easy wayfinding So friction removing and provide new teams to in surface purchase pathways in year, our category-specific or product our inventory experience this buyers will order and surfacing sellers' items create high-quality to to by give the ways
jewelry, promise living mom, to help a or more as in a model ways For to to other more in complete-the-look most type hobby example, is recommendation on a jewelry. of by And find and broad gifting help buyer the effectively. filter easily buyers or testing home common showing of missions, Etsy for shop such specific gifting, new we're gifts gift interest narrow a to early one
channels Etsy and leverage associate with to campaigns specific style gifting. also Living, and marketing starting Home our We'll occasions, & purchase with
a seek are our spots, TV which to few of occasions. has purchase awareness it Here Etsy raise those that for new
Presentation] [Video
a when trust us XXXX the Utilizing seller handmade continue on these items XX% up and buyers of believe other quality a small of Etsy items to one of more weakens on ways we'll do handmade. the in are transacting to find enforcement and instill ML policies Moving percentage build encounters dialing active to of on buyer it when we've and on items, more Etsy That unique, technologies, items. even been make a or accurately. marketplace. very and now remove Etsy, seek of said, to state-of-the-art to trust items their up peace that high which listing to with more AI mass-produced mind know shopping when We our way quickly
removed XXXX, X.X communities. information ago. report and weeks a take our remains confident source Our great right to listings two violate place It's XX% from We violating work million published a down efforts was that never XXXX This increase but that a transparency our of for done, policies. listings policies is our steps trusted taking for to safe our XXXX. the in we're Etsy I'm that ensure regarding
Another protection. this improve awareness focus us to year purchase of for Etsy is
qualify, and when in any know sellers issues arrive. easily and more the buyers their So resolve can orders feel process confident that
For back with their has are go protection, Etsy half to program. Etsy compared to those over purchase the familiar buyers likely who with XX% are wrong if among familiar not buyers things about say that
the XX-day spurred pre-purchase purchase conversion post-purchase track frequency this a through we we improved period. of As found end that our by from over protection year, e-mails our last and program rate about messaging data
do to and We the keep know their make that have across more we we have consistently e-commerce with so and sure expectations pace much to backs sellers buyers landscape.
items minimum significant meaningful In the for And first years while also timeliness a over opportunity could the of purchase We nice and requirement. cost timeliness we've rate it for progress we the no shipping, buyers free win filter shipping better for quarter, the making from improvement. of saw easier even we see on to shipping. still do on made conversion with
point-to-point shipping closer the actual processing make get by ML located precise example, to continuing how items more times, or times to buyer versus Etsy sellers for times their their results search in and set purchases. the and prioritizing to For even using improve accuracy time-sensitive predicting of
customer can job was incremental ecosystem transaction enabled an back making Our in as Etsy areas with such will possible. most Last so marketing, revenue as marketplace, year's sellers us of be and is investments increase, successful create where right critical the and fee incentives trustworthy. reinvested into increase with to the more the to skill as the support,
to reopening step engage XXXX was retain pandemic and sellers world time efforts the it to when buyers. exactly right do the needed after was our the up us and to
up unabated, the X% we're continues on track. year-over-year, we right to about seller high, that metric is intent and sell Given growth our believe future consistently
can we better. Yet even we know do
investing seller items to-do and need growth sales a their easier and which to practices So Etsy. their it this discounting. tools suite, strategies in includes on year, market got and they education, grow personalized list, We'll list improve will jampacked make listings we've to best than provide and insights on pricing the our ever shops,
also wildly listings than this outdo In offer Since that the testing feature shop addition, will to Up vintage XXXX with new try planning test more from launch, included we're we've our a second receive Etsy the will started eligible seller to far. virtual owners make thousands million opted month into have initial our buyers. event sellers option recently of an a offers event. so And give popular and
buyers continues them cost company, growth that communities has marketplace will our very our our marketing We're and confident continue approach well. team, disciplined never to bringing I'm back. to proud all of coming our been We've value, to a deliver and keeping great us and serve at our and which shareholders
This our style including brand, and influencers team's And want digital work of out-of-home. TV ours. slide just brand social we on-site their of partnering sampling experiences, and tools, shows all love CRM across who shapes media align with to creative sizes small and with a
XXXX, good approval. but Martha she her Martha Stewart XX curator not this items filled of first collections worthy in year with over one, was the with twist. deems example, stamp a For collections will coveted celebrity of things our time curate
Reverb and wins as affordability, musicians the GMS solid with off good year Reverb more EloX communities. deals helping with initiatives been with showing instruments long-term that great drive value House kicked to Moving and engagement to respective badging. strategies of has Brands. focused their such price have through our provided drops on find
in could pricing of it prices. negotiate addition, of pieces testing them that has made gear meaningful and we'll had some help initiatives initiatives, order in we engage for conscious interested to discovery success easier relevance specific understand marketplace. these trends, Reverb for with and so team to In budget affordability with to The better Etsy been sellers studying Reverb also price the has be buyers
introducing implementing in such as you is speed, automatically narrowing interpretation, app search filtering capabilities The making as search, misspelled and allow or other EloX of team interface progress improving terms mean to by did lifting search that user such corrects page search category characteristics.
all new report significant the tooling I'm XXXX, result as of structure, and really at the organizational In excited leadership, new better Depop experimentation to completed Depop, many of new just progress customer focus. almost first in quarter metrics team has also as experimentation improved experiments many better tracking not launched align Kruti work XXXX. and outcomes. to only have Depop and with the experiments, our of more
accelerating Depop's fact, Depop's conversion improving, In critical will is to GMS. which rate be
better listing personalized improve We're to product the search started we're content and listings. to have Longer-term machine pay exposing really improve to to and quantity process making and more seller of relevant and quality explore efforts using learning off. to browse buyers the
enables Repop, and thing Depop a to feature seamlessly a good the purchased for We item, launched called an GMS exciting users planet. which also new relist
it and steam. I into as testing social their sellers We're with better investments, up digital and boost Depop are adoption new such to leaning from to our reacting opportunity on we're well picking formats, the marketing listing seeing marketing campaign, returns got and
a who business. with item turning discovering or an talking thriving things it's headlines, hobby the ever a more built into for to enter gift just us long-time directly geopolitical in for the economic a bring to online whether We're dominate joy, continuing on With Etsy. for craft form that that loved and a joy, for maker find space turbulence perfect the us can important of one, you
belief our the approach towards above need greater, and brands, on Our investment best-in-class fortifies success and that even and fewer, more to-date is Etsy commoditized as online shifts world long-held time. can the industry average growth e-commerce for enable profitability over disciplined our
crave our to human, globe future continuing buyers are in house feel for products, believe thank for alternative We to the of well times. and team more continue wisely take to our in and millions and brands bring special to ways even mass-produced sellers the will that to drive to positioned our people invest an I moment different. a inherently we unstable want across innovation to of around
Thanks that, turn for your over I'll Rachel. time. And it with to