Etsy, Inc. (NASDAQ:ETSY) Q3 2023 Earnings Call Transcript

Our model is dynamically pull back, and we just naturally spend less, which obviously would point to bringing in less — acquiring less traffic less buyers.

Josh Silverman: The only thing I’d add there is everything Rachel talked about is GMS. So the GMS guide is down low-single-digits. Take rate is actually up year-over-year. You’ll notice in our guide. And so a low-single-digit GMS would still be roughly flat, maybe even slightly positive revenue for the quarter.

Rachel Glaser: With very healthy margins, so…

Josh Silverman: Yes.

Debra Wasser: That’s a good way to end. We are out of time. So thank you, everybody, for your time, and we will be talking to you all as we go through the quarter and shop on Etsy for all your gifting needs.

Josh Silverman: Thank you.

Rachel Glaser: Thank you.