eBay Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>eBay Inc. has officially filed its comprehensive 2023 annual report with the SEC.</b>

AI Summary

EBAY INC (EBAY) filed a Annual Report (10-K) with the SEC on February 28, 2024. eBay Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 2025 Hamilton Avenue, San Jose, CA 95125. The filing was made on February 28, 2024. eBay Inc. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking EBAY INC, this filing contains several important signals. This 10-K filing provides a detailed overview of eBay's financial performance, strategic initiatives, and risk factors for the fiscal year 2023, offering insights into the company's operational health and future outlook. Investors and analysts can use this report to assess eBay's competitive positioning, evaluate management's strategies, and make informed investment decisions based on the disclosed financial data and business developments.

Risk Assessment

Risk Level: medium — EBAY INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for public companies. However, the sheer volume of data and the need for detailed analysis of financial statements and risk factors present a medium level of complexity and potential risk in interpretation.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand eBay's performance and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-28 — Filing Date (Date of filing)
• 770430924 — IRS Number (Filer's IRS number)
• 001-37713 — SEC File Number (SEC file number for the filing)

Key Players & Entities

• EBAY INC (company) — Filer name
• 2025 HAMILTON AVENUE (location) — Business address
• SAN JOSE (location) — Business address city
• CA (location) — Business address state
• 95125 (location) — Business address zip
• DE (location) — State of incorporation
• 2024-02-28 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end

FAQ

Industry Context

eBay operates as an online marketplace, connecting buyers and sellers globally. The company's business is influenced by e-commerce trends, competition, and regulatory environments.

Regulatory Implications

As a publicly traded company, eBay is subject to the regulations of the Securities and Exchange Commission (SEC), including the requirement to file annual reports like this 10-K.

What Investors Should Do

1. Analyze the revenue and cost of revenue figures for fiscal year 2023.
2. Examine any disclosed gains or losses on equity investments and warrants.
3. Review the company's balance sheet for assets and liabilities as of December 31, 2023.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-28: Filing Date — Official date the 10-K was submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, so a direct comparison to a prior period's 10-K is not yet available within this document's scope.

Key Financial Figures

• $73 billion — ection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more i
• $162 million — lief and Free The Work. In 2023, nearly $162 million was raised by buyers and sellers to sup
• $19 million — , the eBay Foundation granted more than $19 million through strategic grantmaking and our e
• $120 million — e eBay Foundation has awarded more than $120 million to more than 1,800 nonprofits. Recomm
• $600 — K for all sellers who receive more than $600 in gross payments in a year, a decrease
• $20,000 — rom the previous reporting threshold of $20,000 and 200 transactions. The Internal Reve

Filing Documents

• ebay-20231231.htm (10-K) — 3003KB
• ex1039-julieloegerofferlet.htm (EX-10.39) — 37KB
• ebay123123ex2101.htm (EX-21.01) — 10KB
• ebay123123ex2301.htm (EX-23.01) — 2KB
• ebay123123ex3101.htm (EX-31.01) — 11KB
• ebay123123ex3102.htm (EX-31.02) — 11KB
• ebay123123ex3201.htm (EX-32.01) — 5KB
• ebay123123ex3202.htm (EX-32.02) — 5KB
• ex9701-clawbackpolicy.htm (EX-97.01) — 47KB
• ebay-20231231_g1.jpg (GRAPHIC) — 25KB
• ebay-20231231_g2.jpg (GRAPHIC) — 124KB
• image_0.jpg (GRAPHIC) — 0KB
• image_0a.jpg (GRAPHIC) — 21KB
• image_6.jpg (GRAPHIC) — 0KB
• image_8.jpg (GRAPHIC) — 0KB
• 0001065088-24-000036.txt (&nbsp;) — 17468KB
• ebay-20231231.xsd (EX-101.SCH) — 111KB
• ebay-20231231_cal.xml (EX-101.CAL) — 169KB
• ebay-20231231_def.xml (EX-101.DEF) — 716KB
• ebay-20231231_lab.xml (EX-101.LAB) — 1232KB
• ebay-20231231_pre.xml (EX-101.PRE) — 1009KB
• ebay-20231231_htm.xml (XML) — 2984KB

Risk Factors 12

Item 1A. Risk Factors 12

Unresolved Staff Comments 33

Item 1B. Unresolved Staff Comments 33 Item 1C. Cybersecurity 33

Properties 34

Item 2. Properties 34

Legal Proceedings 34

Item 3. Legal Proceedings 34

Mine Safety Disclosures 35

Item 4. Mine Safety Disclosures 35 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36

[Reserved] 37

Item 6. [Reserved] 37

Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk 54

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 54

Financial Statements and Supplementary Data 57

Item 8. Financial Statements and Supplementary Data 57

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 57

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 57

Controls and Procedures 57

Item 9A. Controls and Procedures 57

Other Information 57

Item 9B. Other Information 57

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 57

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 57 Part III

Directors, Executive Officers and Corporate Governance 58

Item 10. Directors, Executive Officers and Corporate Governance 58

Executive Compensation 58

Item 11. Executive Compensation 58

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 58

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 58

Certain Relationships and Related Transactions, and Director Independence 58

Item 13. Certain Relationships and Related Transactions, and Director Independence 58

Principal Accountant Fees and Services 58

Item 14. Principal Accountant Fees and Services 58 Part IV

Exhibits and Financial Statement Schedule 59

Item 15. Exhibits and Financial Statement Schedule 59

Form 10-K Summary 59

Item 16. Form 10-K Summary 59 3 Tabl e of Contents PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that involve expectations, plans or intentions (such as those relating to future business, future results of operations or financial condition, inflationary pressure, foreign exchange rate volatility and geopolitical events, new or planned features or services, or management strategies). You can generally identify these forward-looking statements by words such as "aim," "anticipate," "believe," "commit," "continue," "could," "design," "develop," "estimate," "expect," "forecast," "goal," "intend," "likely," "maintain," "may," "ongoing," "opportunity," "plan," "possible," "potential," "should," "target," "will," "would" and other similar expressions. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, among others: fluctuations in, and our ability to predict, our results of operations and cash flows; our ability to convert visits into sales for our sellers, attract and retain sellers and buyers, and execute on our business strategy; our ability to compete in the markets in which we participate; our ability to generate revenue from our foreign operations and expand in international markets; the impact of inflationary pressure, fluctuations in foreign currency exchange rates, increasing interest rates and geopolitical events such as the ongoing wars in Ukraine and in Israel and Gaza, including the related disruptions to international shipping in the Red Sea; our ability to keep pace with rapid technological developments or continue to innovate and create new initiatives to provide new programs, products and services; our ability to operate and continuously d

: BUSINESS

ITEM 1: BUSINESS Unless otherwise expressly stated or the context otherwise requires, when we refer to "we," "our," "us," "eBay" or the "Company" in this annual report on Form 10-K, we mean eBay Inc. and its consolidated subsidiaries. Overview Founded in 1995 in San Jose, California, eBay Inc. is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Our Marketplace platforms, including our online marketplace located at www.ebay.com and its localized counterparts, our off-platform businesses in Japan and the United States, and our suite of mobile apps, together, create one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more information about the Company and its global portfolio of online brands, visit www.ebayinc.com. Our Strategy As a global commerce leader and third-party marketplace, our technologies and services are designed to provide buyers choice and a breadth of relevant inventory from around the globe, and to enable sellers' access to eBay's 132 million buyers worldwide. Our business model and pricing are designed so our business is successful when our sellers are successful. We earn revenue primarily through fees collected on paid sales, inclusive of payment processing and first-party advertising. eBay's strategy is to leverage technology to enhance the marketplace experience for our customers to drive growth in Gross Merchandise Volume ("GMV"), while increasing the rate of revenue growth through our advertising initiatives and delivering healthy operating margins. Beginning in 2020, we embarked on a multi-year journey to build more compelling category experiences for enthusiastic consumers, to become the partn

View Full Filing

View this 10-K filing on SEC EDGAR