Looking ahead into the full year 2019, the company lifted its revenue outlook to the range of $797 million to $809 million from the prior range of $785 million to $797 million, and its revenue growth estimate to the range of 32% to 34% from the previous range of 30% to 32%.
Adjusted EBITDA margin forecast is revised lower to the range of $177 million to $193 million from the earlier range of $182 million to $198 million. Gross merchandise sales are now anticipated to rise 20% to 22% to the range of $4.7 billion to $4.8 billion, compared to the previous forecast to rise 18% to 21% to the range of $4.6 billion to $4.8 billion.
During the second quarter, the product experiment velocity increased to another record high as its initiatives were focused on unique inventory, improving search and discovery, strengthening human connection, and building a trusted brand. This collectively improved customer experience and fueled gross merchandise sales (GMS) growth.
GMS per active buyer on a trailing 12-month basis delivered five consecutive quarters of positive growth, evidence of our continued progress improving frequency.
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International GMS was 38% of overall GMS and increased 37% year-over-year on a currency-neutral basis, another record quarter growth. The growth was driven by its local efforts in core international markets, including Germany, which continues to benefit from the DaWanda agreement.
Active buyers grew 19% year-over-year in the second quarter, and active sellers grew 18% year-over-year. GMS from paid channels was 15% of overall GMS, contracting about 100 basis points from last year, due to a shift in its investment mix to higher performing channels.
Shares of Etsy ended Thursday’s regular session up 1.67% at $68.14 on the Nasdaq. The stock has risen over 65% in the past year and over 2% in the past three months.