Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Etsy Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017
Cash and cash equivalents	789,990)	758,874)	756,237)	780,196)	619,402)	2,053,882)	1,163,678)	1,244,099)	1,144,974)	677,524)	442,354)	443,293)	671,769)	359,159)	345,674)	366,985)	362,727)	357,820)	533,855)	315,442)	260,288)	226,885)	194,807)
Short-term investments	251,165)	247,816)	225,983)	204,416)	197,430)	430,727)	502,569)	425,119)	379,586)	365,659)	361,640)	373,959)	180,170)	274,673)	276,432)	257,302)	221,409)	209,689)	67,526)	25,108)	50,407)	60,353)	81,145)
Accounts receivable, net of expected credit losses	21,765)	20,133)	20,645)	27,266)	23,884)	20,283)	22,991)	22,605)	16,311)	16,527)	11,712)	15,386)	12,494)	10,585)	10,789)	12,244)	36,385)	30,615)	31,292)	33,677)	27,172)	24,990)	25,085)
Prepaid and other current assets	93,700)	112,855)	101,123)	109,417)	68,936)	49,693)	46,277)	56,152)	43,590)	30,768)	36,074)	38,614)	43,934)	34,647)	26,859)	22,686)	23,958)	18,558)	23,738)	20,379)	17,325)	28,916)	19,911)
Funds receivable and seller accounts	195,493)	180,544)	191,149)	220,206)	167,682)	136,395)	158,104)	146,806)	113,370)	103,857)	55,172)	49,786)	37,473)	64,589)	64,247)	21,072)	63,470)	49,551)	48,586)	44,658)	45,191)	35,084)	34,292)
Current assets	1,352,113)	1,320,222)	1,295,137)	1,341,501)	1,077,334)	2,690,980)	1,893,619)	1,894,781)	1,697,831)	1,194,335)	906,952)	921,038)	945,840)	743,653)	724,001)	680,289)	707,949)	666,233)	704,997)	439,264)	400,383)	376,228)	355,240)
Restricted cash	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)	5,341)
Property and equipment, net of accumulated depreciation and amortization	249,905)	261,697)	271,333)	275,062)	198,902)	105,814)	107,960)	112,495)	118,141)	126,187)	134,519)	144,864)	153,262)	128,409)	131,650)	120,179)	119,243)	117,024)	116,385)	117,617)	124,543)	129,074)	127,168)
Goodwill	135,922)	1,269,155)	1,364,414)	1,371,064)	1,385,214)	140,045)	139,745)	140,810)	139,740)	138,757)	138,305)	138,731)	138,474)	37,342)	37,034)	37,482)	37,802)	37,959)	39,228)	38,541)	38,216)	37,438)	35,970)
Intangible assets, net of accumulated amortization	517,018)	550,925)	595,305)	607,170)	613,104)	178,854)	182,312)	187,449)	189,120)	191,685)	194,874)	199,236)	202,102)	33,142)	33,839)	34,589)	36,360)	38,077)	3,500)	4,100)	4,700)	5,301)	6,062)
Deferred tax assets	115,068)	105,331)	102,991)	95,863)	103,809)	46,106)	7,723)	115)	1,819)	8,336)	15,232)	14,257)	22,380)	23,319)	23,000)	23,464)	—)	—)	—)	—)	—)	—)	—)
Long-term investments	32,138)	46,944)	61,612)	85,034)	90,350)	102,801)	137,655)	39,094)	36,679)	73,143)	94,080)	89,343)	4,765)	25,438)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other assets	42,806)	47,485)	49,042)	50,774)	28,084)	20,475)	23,056)	24,404)	25,834)	24,247)	28,339)	29,542)	27,034)	25,131)	26,303)	507)	673)	676)	714)	720)	879)	935)	958)
Non-current assets	1,098,198)	2,286,878)	2,450,038)	2,490,308)	2,424,804)	599,436)	603,792)	509,708)	516,674)	567,696)	610,690)	621,314)	553,358)	278,122)	257,167)	221,562)	199,419)	199,077)	165,168)	166,319)	173,679)	178,089)	175,499)
Total assets	2,450,311)	3,607,100)	3,745,175)	3,831,809)	3,502,138)	3,290,416)	2,497,411)	2,404,489)	2,214,505)	1,762,031)	1,517,642)	1,542,352)	1,499,198)	1,021,775)	981,168)	901,851)	907,368)	865,310)	870,165)	605,583)	574,062)	554,317)	530,739)

The financial data exhibits significant changes across various asset categories over the periods analyzed, highlighting evolving liquidity, asset composition, and investment patterns.

Cash and cash equivalents: This line item shows notable fluctuations with a general increasing trend toward the end of the period. From March 2017 to December 2020, the balance rose from approximately 195 million USD to over 1.24 billion USD. There was a significant spike in cash holdings between June 2020 and June 2021, followed by variability in 2022 but maintaining a historically high level above 750 million USD. This suggests enhanced cash generation or capital raising activities during those years.
Short-term investments: Short-term investments have also increased considerably, especially from early 2018, rising from approximately 67 million USD in March 2018 to a peak over 500 million USD in June 2021. However, a decline is evident afterwards, dropping below 250 million USD by the last reported quarter, indicating possible liquidations or reallocation of investments.
Accounts receivable, net: Accounts receivable figures fluctuate moderately over the quarters, without a strong upward or downward trend. The range hovers mostly between 10 and 23 million USD, with some volatility in certain quarters but no clear sustained increase or decrease. This implies steady credit sales and collection performance.
Prepaid and other current assets: There is a general upward trend in prepaid and other current assets, growing from roughly 20 million USD in early 2017 to over 110 million USD in mid-2022. This increase may reflect higher prepaid expenses or accrued assets consistent with business scaling.
Funds receivable and seller accounts: This category shows notable growth from under 50 million USD in early 2017 to peaks above 220 million USD by March 2022. Despite periodic declines, the overall trend is upward, indicative of increased transactional volumes or accounts owed from marketplace sellers.
Current assets: Aggregate current assets increased markedly, nearly quadrupling from around 355 million USD in early 2017 to almost 2.7 billion USD by the end of 2021. A sharp drop follows in early 2022 to slightly above 1 billion USD, representing a partial contraction but still elevated relative to the starting point. This suggests growth in liquidity and short-term resources before some consolidation or asset reallocation.
Property and equipment, net: Net property and equipment remained fairly stable with some minor fluctuations until 2020, averaging around 120 million USD, then spiked sharply to nearly 199 million USD in 2021 before peaking at 275 million USD mid-2022, with a slight decline thereafter. This pattern reflects substantial investment in physical assets possibly linked to expansion or infrastructure enhancements.
Goodwill: Goodwill reported a significant jump starting late 2019, increasing from around 37 million USD to over 1.38 billion USD by March 2022. This dramatic rise likely results from major acquisitions during that timeframe. However, a drop appears in the last reported quarter, perhaps indicating impairment or divestiture events.
Intangible assets, net: Intangible assets show similar behavior to goodwill, with a large increase beginning in late 2019 from approximately 33 million USD to more than 600 million USD in early 2022, followed by a gradual decline. This also points to asset growth through acquisitions and possible amortization or impairments later.
Deferred tax assets: Deferred tax assets appear from late 2017 onward, showing variability but an overall increasing trend reaching around 115 million USD by late 2022. This suggests growing temporary differences and tax benefits recognized by the company.
Long-term investments and other assets: Long-term investments demonstrate greater volatility with intermittent values reported, peaking near 138 million USD in mid-2021 before declining substantially. Other assets remain relatively steady, with minor fluctuations around 20 to 50 million USD.
Non-current assets: The composition of non-current assets rises dramatically in 2019 and 2020, from approximately 257 million USD to over 2.4 billion USD by 2021, then sharply contracts towards 1 billion USD by September 2022. This volatility coincides with spikes in goodwill and intangibles, suggesting acquisition activity followed by asset reevaluation or disposal.
Total assets: Total assets display consistent growth from around 530 million USD in early 2017 to a peak of over 3.8 billion USD by the end of 2021. After this peak, a decline to approximately 2.45 billion USD by late 2022 is observed, aligning with reductions in non-current and intangible assets. This trend indicates expansion followed by partial consolidation or restructuring of the asset base.

In conclusion, the financial data reveals a phase of aggressive growth and acquisition primarily between 2019 and 2021, demonstrated by large increases in goodwill, intangible assets, and total non-current assets. Liquidity also strengthened significantly during this period. The subsequent period in 2022 shows signs of stabilization with declines in intangible and goodwill balances and contraction of total assets, reflecting strategic adjustments or asset disposals. Current assets and cash levels remain elevated compared to earlier periods, suggesting maintained liquidity post-growth phase.

Assets: Selected Items

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Current Assets: Selected Items

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Etsy Inc. (NASDAQ:ETSY)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data