Edward Yruma's questions to ETSY Inc (ETSY) leadership • Q3 2024
Question
Edward Yruma from Piper Sandler & Co. asked for color on quarter-to-date business trends, the assumptions behind the high and low ends of the Q4 GMS guidance, and details on the new physical gift card launch.
Answer
CEO Josh Silverman noted the holiday season is later and shorter, with the U.S. election being a factor, all of which is baked into guidance. He expressed long-term optimism for gift cards, which are currently under 1% of GMS, but expects a gradual build. CFO Rachel Glaser clarified the revenue recognition accounting for gift cards.