Etsy (ETSY) AGM 2024 summary

Opening remarks and agenda

• CEO and Chairman welcomed stockholders and introduced board and executive team members.

• Agenda included management presentation, voting on proposals, and Q&A session.

Financial performance review

• 2023 consolidated GMS reached $13.2 billion, with record revenue of $2.7 billion, up 7% year-over-year.

• Net income was $307 million; adjusted EBITDA was $754 million.

• Nearly 90% of free cash flow was returned to shareholders in 2023.

• Buyer base doubled since 2019, with year-over-year growth for four consecutive quarters in 2023.

Board and executive committee updates

• Board oversaw efforts to meet commitments to employees, buyers, sellers, and stockholders.

• Acknowledged that core marketplace GMS has not grown significantly over the last two years.