Etsy sees Q4 adjusted EBITDA 24%

Sees Q4 GMS $3.5B-$3.65B; and Take Rate ~24.5%. Regarding Etsy‘s (ETSY) outlook, CFO Lanny Baker commented, “We are pleased that at the midpoint, our Q4 consolidated GMS would represent further sequential improvement in our combined Etsy marketplace and Depop year-over-year growth rate. Our expectation for Q4 consolidated adjusted EBITDA margin reflects stable, strong profitability for the Etsy marketplace, paired with a significant sequential increase in brand marketing investment at Depop which will compress margin performance. This investment in Depop is discretionary and opportunistic, arising from our excitement about the scale and growth of the apparel resale market, as well as Depop’s own very encouraging momentum.”