Etsy sees Q4 GMS down in the low single digit range y/y

“GMS for Q4 2023 is currently estimated to decline in the low-single-digit range on a year-over-year basis. However, if trends worsen, that could become a mid-single-digit decline, and if trends improve GMS could be flat or even up slightly year-over-year. We estimate Q4 2023 take rate to be approximately 20.8%, down slightly on a sequential basis due to normal seasonality. This can be used to estimate revenue range for the quarter. Adjusted EBITDA margin for Q4 2023 is currently estimated to be between 26-27%.”