Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Etsy Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Revenue	2,329,114)	1,725,625)	818,379)	603,693)	441,231)
Cost of revenue	(654,512)	(464,745)	(271,036)	(190,762)	(150,986)
Gross profit	1,674,602)	1,260,880)	547,343)	412,931)	290,245)
Marketing	(654,804)	(500,756)	(215,570)	(158,013)	(109,085)
Product development	(271,535)	(180,080)	(121,878)	(97,249)	(74,616)
General and administrative	(282,531)	(156,035)	(121,134)	(82,883)	(91,486)
Asset impairment charges	—)	—)	—)	—)	(3,162)
Operating expenses	(1,208,870)	(836,871)	(458,582)	(338,145)	(278,349)
Income from operations	465,732)	424,009)	88,761)	74,786)	11,896)
Loss on extinguishment of debt	—)	(16,855)	—)	—)	—)
Interest expense	(9,885)	(42,025)	(24,320)	(22,178)	(11,130)
Interest and other income	2,137)	7,102)	13,199)	8,957)	2,394)
Foreign exchange gain (loss)	13,670)	(6,522)	3,006)	(6,487)	29,105)
Other income (expense)	5,922)	(58,300)	(8,115)	(19,708)	20,369)
Income before income taxes	471,654)	365,709)	80,646)	55,078)	32,265)
(Provision) benefit for income taxes	21,853)	(16,463)	15,248)	22,413)	49,535)
Net income	493,507)	349,246)	95,894)	77,491)	81,800)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Etsy Inc. revenue increased from 2019 to 2020 and from 2020 to 2021.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Etsy Inc. income from operations increased from 2019 to 2020 and from 2020 to 2021.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Etsy Inc. income before income taxes increased from 2019 to 2020 and from 2020 to 2021.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Etsy Inc. net income increased from 2019 to 2020 and from 2020 to 2021.

Etsy Inc. (NASDAQ:ETSY)

Income Statement