=ETSY reported earnings on Tue 23 Feb 2016 (a/h)

Etsy misses by $0.04, beats on revs; guides FY16 revs below consensus; sets 2018 targets  :

• Reports Q4 (Dec) GAAP loss of $0.04 per share, $0.04 worse than the two analyst estimate of ($0.00); revenues rose 35.4% year/year to $87.9 mln vs the $86.64 mln Capital IQ Consensus; GMS +21% to $741.5 mln; adj. EBITDA +51% to $14 mln. Growth in GMS was driven by 15.5% year-over-year growth in active sellers and 21.4% year-over-year growth in active buyers.
• Co issues downside guidance for FY16, sees FY16 revs at high end of (+20-25% YoY) ~$328-342 mln vs. $347.90 mln Capital IQ Consensus Estimate. 
• "We expect to achieve a three-year revenue CAGR in the 20-25% range and a three-year GMS CAGR in the 13-17% range. In 2016, we expect revenue growth to be at the high end of our three-year range and GMS growth to be near the mid-point of our three-year range... We expect to exit 2018 with a full-year gross margin that is in the mid-60s percent range, and that 2016 gross margin will be in this range as well... Finally, from an Adjusted EBITDA margin perspective, we estimate that our margin in 2016 will be comparable to 2015 in the 10-11% range and that it will expand to the high teens range by the end of 2018."