Etsy, Inc. (NASDAQ:ETSY) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 05:00 pm ET


Etsy, Inc. (NASDAQ:ETSY) Q2 2020 Earnings Conference Call - Final Transcript


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Deb Wasser

Hi, everyone, and welcome to Etsy's Second Quarter Earnings Conference Call. I'm Deb Wasser, VP of Investor Relations. And joining me today are Josh Silverman, CEO; Rachel Glaser, CFO; and Gabe Ratcliff, our Director of Investor Relations. Today's prepared remarks have been prerecorded. The slide deck has also been posted to our website for your reference. Once we are finished with Josh and Rachel's presentations, we will transition to a live video webcast Q&A session. Questions can be submitted by the Q&A window chat displayed on your screen. Feel free to use it at any time as it will remain open throughout the entire conference call. I'll be reading your questions and Gabe will help me try to get to as many as we can.

Please keep in mind that our remarks today include forward-looking statements related to our financial guidance and key drivers thereof, the impact of COVID-19 on our communities, business and strategy, marketing and product initiatives, our future financial results, anticipated investments, and the timing and benefits of our seller initiatives, and strategic benefit and impact on our financial performance of Reverb. Our actual results may differ materially. Forward-looking statements involve risks and uncertainties, which are described in our press release and our 10-Q filed with the SEC on May 7, and subsequent reports that we will file with the SEC. Any forward-looking statements that we make on this call are based on our beliefs and assumptions today. And we don't have any obligation to update them. Also during the call, we'll present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release, which you can find on our IR website along with a replay of this call.

With that, I'll turn it over to Josh.

Josh Silverman

Thanks a lot, Deb and hello, everyone. Etsy's mission is Keeping Commerce Human and we feel that that mission is even more relevant today than it's ever been. At a time when our sellers rely on income from Etsy to provide meaningful income for their families and at a time when there are so many forces that are pulling us apart and dividing us, the opportunity to create human connection through commerce, we believe is incredibly powerful and motivates us as a team every single day. I'm going to share with you some pretty exceptional financial results for the second quarter. But before I do that, I wanted to pause for just a second on our social impact goals because we're as proud of how we achieve these results as we are of the results themselves.

We apply the same focus and accountability to our social impact goals as we do to the rest of our business, because we believe very strongly that being a great corporate citizen makes us an even stronger business. And so for the past many years, we have been setting goals. We have been publicly announcing those goals and then we've been publicly reporting the results and