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Online Marketplace Etsy, Inc. Debuts On Nasdaq Stock Exchange

Spencer Platt

International platform, Etsy (NASDAQ:ETSY), is a phenomenally profitable market, with a historical past of profitability, stable returns and powerful free money circulation technology. The agency creates way more worth than it takes, offering vital room for development. Nonetheless, the agency has a transparent weak point: it

Source: Morningstar

Supply: Morningstar

Source: Etsy Filings

Supply: Etsy Filings

Source: Etsy Filings

Supply: Etsy Filings

Source: Etsy Filings and Author Calculations

Supply: Etsy Filings and Writer Calculations

Lively Patrons (in thousands and thousands)

New Patrons (in thousands and thousands)

Reactivated Patrons (in thousands and thousands)

Constant Patrons

Implied Churn

Implied Churn as a Proportion

2018

39.45

17.5

10.4

11.55

2019

46.35

19

12.6

14.75

24.70

62.61%

2020

81.90

38.4

22.3

21.20

25.15

54.26%

2021

96.34

34.8

21.4

40.14

41.76

50.99%

2022

95.08

29

24

42.08

54.26

56.33%

Q1 2023

95.53

6.7

6

82.83

12.25

12.88%

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