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  "documentTitle": "Etsy | Results Presentation Deck | 46 slides",
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  "presentationDate": "2024-02-01 00:00:00",
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  "notes": "Includes standard GAAP reconciliation disclaimer and currency assumption.",
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      "text": "We are not able at this time to provide GAAP targets for net income or net income margin or to reconcile Adjusted EBITDA margin to those amounts because of the unreasonable effort of estimating certain items that are excluded from non-GAAP Adjusted EBITDA, including, for example, stock-based compensation expense, foreign exchange loss (gain), and acquisition-related and other non-recurring expenses, the effect of which may be significant. Please note that our guidance assumes currency exchange rates remain unchanged at current levels.",
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      "text": "We estimate Q1 24 take rate to be between 21-21.5%. This can be used to estimate revenue range for the quarter.",
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      "text": "GMS for the first quarter of 2024 is currently estimated to decline in the low-single-digit range on a year-over-year basis. This guidance reflects our slow start to the quarter, and our current expectation that GMS for the core Etsy marketplace improves as we move through the rest of the quarter as a result of our planned product and marketing investments. However, if our trends fail to improve as we currently expect, this could become a mid-single-digit decline.",
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      "text": "Adjusted EBITDA margin is currently estimated to be ~26%.",
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      "kind": "title",
      "text": "Q1 24 Consolidated Guidance as of Feb 21, 2024",
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