commentary of where thank will results, for first marketplace key joining Etsy performance appropriate. consolidated and everyone, My cover Josh, quarter call. stand-alone our drivers today results you, and Thanks,
As on divested we a August reminder, XXXX. EloX XX,
when headwinds roughly and margin. similar into to year-over-year year-over-year million, that quarter, line growth that EBITDA accretive in take results.
Etsy's quarter consolidated expectations $X year-over-year adjusted of GMS increased EloX's modestly the EBITDA approximately with consolidated revenue FX was Revenue but million please and with GMS compare in our first adjusted to in was to XX down year.
Note consideration divestiture XXXX resulted $XXX $XXX bit basis small a and last consolidated was benefit. our points So to X.X% billion, you
Etsy provided our the to subsidiaries tailwind year-over-year solid results. GMS GMS marketplace external first consolidated at quarter, headwinds trends a growth strong pressured throughout While
safe in marketplace benefit new had billion Etsy related X.X%, openings revenue GMS attempts. consolidated in out in our it payments cover early indicated launched and rolled increased new and of a seller our offset transaction and in shops. in on resulted we part a on outcome, decrease represented a year-over-year in decline efforts X% experiment contributor. in in growth successful shop our fraud new year-over-year a offsite revenue, it fee late nominal February, eligible ads being later.
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Consolidated
quarter, budgets retrieval spend improved engines we continued the ad to Etsy predictions that including conversion day. and to Ads, refinements sellers' of During the enhance throughout our for pace a data
First XX.X%, XX.X% guidance consolidated in reported of was first of the last and rate quarter quarter XXXX take year. slightly ahead above the
year. Our adjusted expense, guidance, of by with first on costs in leverage was basis our down points XX%, employee advertising. EBITDA XX higher from We quarter variable offset primarily gained from consolidated last margin revenue line year-over-year marketing big our cost game and
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restructuring. consolidated year-over-year result of spend marketplace million, During product $XXX to X% a as the decreased December our quarter, first Etsy development primarily
this in slide. we see P&L can gaining this on from fact, are, leverage you So line, as
approximately consolidated quarter on was basis. year-over-year X,XXX, count down first XX% a head Our
about with X,XXX, revenue a Etsy the year-over-year. per was count head down under head year-over-year marketplace, For increasing count X% X% approximately to bit
make significant focused for best opportunity selective and on decisions hiring, judicious We ahead. continue talent and our deliberate our skills related the to very to
game year-over-year support driven in increased XX% increase primarily Mode. launch year-over-year Etsy the marketing XX% marketplace's spend our our First consolidated related in spend of $XXX quarter million, to big by consolidated to brand largely above-the-line a Gift of campaign
performance tailwind for we testing Our core push marketing mix.
Etsy to of social. marketing similar GMS mid-funnel as spend consolidated diversify then in our February conducted paid line. scaled headwind marketplace about XX% was notifications it March became optimizations a And Etsy a product X% and channel total, year-over-year.
Performance January we our increased trend and expanded to marketplace and across up as portfolio our was marketing PLA and feeds paid normal investments both
marketplace declined X.X% Etsy the Moving and in metrics. quarter, we marketplace GMS first January experienced in the trends through buyer February GMS to March. with negative Etsy continuing and
volatility to experiencing. timing helpful bit a a QX It shift April, of March. guidance.
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Edge's Consumer except result.
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the in to on see jewelry that and the apples as Here, remember types the inflation of and we per top the merchandise we generally a you is living, not we GMS experienced categories. keeping retailers Germany. Consumer our When growth of believe excluding categories: and weakness a home markets in toys the and domestic, tale map the prior data in declined X.X% sellers and macro U.S., peers U.S. prices have similarly, performed a our can if that our down oranges and we taken But we sell.
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decline a of climate, year-over-year. above that marketplace X% type levels.
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and in slightly in prior We also our the the fourth buyers quarter retention versus retained quarter the period. first habitual more year of habituals
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Etsy appendix presentation, posted the Additional can charts website. on trend IR which of marketplace and in be is metrics this our found
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we long-term March cash, billion had in and As and XX, equivalents of investments. short- $X.X cash
first program, we a stock $XXX remains repurchased $X our March June Board-authorized repurchase XX. the of under During quarter, in million $XXX million of as which billion available XXXX total of
Our free approximately $XX this flow million. cash business us deliver of strong model allowed to capital-light quarter
basis. EBITDA flow We also approximately to adjusted on free trailing XX% to a our XX-month convert continue of cash
our turning outlook. Now to
our effect our ahead April, on larger-than-anticipated the was pacing about March GMS X% Etsy headwinds for timing in consolidated the earlier, As of inverse mentioned the break consolidated shift QX Easter due marketplace and down year-over-year, to experienced in had results. which spring the
consolidated expect performance, in consolidated While for be been decline for have lot actual with which adjusted the top to each performance.
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We the tailwind remain similar take performance, the performance the
adjusted full a XXX headwind continues a year, range are year-over-year the to GMS in lower post our second acceleration a current modest potential in through flow Our at subsidiaries consolidated outcomes basis suggests margins to to EBITDA of their expected about half. view point revenue the as for margins.
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As adjusted margin. we rate take Etsy for slide, addition our we setup seller Payments are you described China plans, on recent revenue and can see about year into commentary expansion prior full XXXX, this our and of EBITDA the reiterating take earlier. Built the rate expectation including
value, us to invest As we growth. which opportunities continue to build of exchange exciting initiatives, we will look in for to fair deliver a enable
on will we now will take I turn the our questions. prize.
Thank and over your energized, call continue and to engaged all eye today. your highly to the keep for you is team time operator to Our the