NYSE$ETSY

Etsy Inc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Etsy reported Q3 2025 revenue of $678.0M with net income of $75.5M and diluted EPS of $0.63.

Revenue was $678.0 million with net income of $75.5 million and diluted EPS of $0.63 for the quarter ended September 30, 2025. Marketplace take rate, active buyers, and GMS trends drove results amid a promotional retail environment.

  • Q3 revenue $678.0M; net income $75.5M; diluted EPS $0.63.
  • Marketplace GMS and buyer engagement remain key drivers.
  • Take rate and ads products influence revenue per transaction.
  • Marketing and product investments support holiday-season readiness.

Headline financials

Total Revenue

$678M

Previous: $662M+2.4%
EPS (adj)

$0.63

Previous: $0.45+40.0%
Gross Merchandise Sales

$2.72B

Previous: $2.92B-6.5%
Etsy Marketplace GMS

$2.43B

Previous: $2.49B-2.4%
Active Sellers

5.5M

Previous: 6.2M-10.9%
Active Buyers

86.6M

Previous: 91.3M-5.1%
Reactivated Buyers

6.6M

Previous: 6.4M+3.8%
New Buyers

4.8M

No prior period
GMS per Active Buyer (TTM)

$121.00

Previous: $123.00-1.6%
Habitual Buyers (TTM)

6.0M

No prior period
Take Rate

24.9%

Previous: 22.7%+9.7%
Adjusted EBITDA

$172M

Previous: $184M-6.4%
Adjusted EBITDA Margin

25.4%

Previous: 27.7%-8.3%
Capital Expenditures

-$14.1M

Previous: -$10.2M-38.8%
Net Income

$75.5M

Previous: $57.4M+31.6%
Operating Income

$82.7M

Previous: $86.8M-4.7%
Gross Profit

$483M

Previous: $477M+1.4%

Revenue & EPS history

Etsy · Revenue · Quarterly

$678M

Q3 2025+2.4%vs Q3 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Etsy · $636M total across 2 segments · Q3 2023

  • Marketplace Revenue
    $461M+3.9%
  • Services Revenue
    $175M+16.2%

Forward guidance

The release discusses Etsy's outlook, capital allocation, and key risks for upcoming quarters, including guidance ranges or operating priorities where disclosed.

Tailwinds

  • Management discussed operating priorities and capital allocation for upcoming quarters.
  • Etsy cites demand and execution supporting the near-term outlook.
  • Liquidity and balance-sheet capacity support operations and shareholder returns.

Headwinds

  • Macro, input costs, and FX may pressure margins quarter to quarter.
  • Segment mix and one-time items can affect comparability versus prior periods.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-0.8%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+2.4%

Avg return

30 days after

45%

20 / 44 earnings

Positive

+27.8%

Q4 2021

Best reaction

-32.8%

Q2 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+10.2%+1.4%+7.4%
Q4 2025+9.3%+23.5%+20.0%
Q3 2025-12.5%-18.3%-27.5%
Q1 2025-5.7%-2.3%+20.0%
Q4 2024-10.1%-7.1%-21.3%
Q3 2024+8.3%+10.1%+15.5%
Q2 2024-6.8%-14.1%-14.6%
Q1 2024-13.7%-9.0%-7.6%
Q4 2023-6.9%-5.2%-10.6%
Q3 2023-1.1%+1.3%+31.7%
Q2 2023-15.9%-14.4%-24.3%
Q1 2023-6.7%-6.5%-14.3%
Q4 2022+5.4%-3.4%-14.4%
Q3 2022+9.4%+8.5%+53.7%
Q2 2022+12.5%+11.1%+11.7%
Q1 2022-9.5%-14.1%-19.4%
Q4 2021+27.8%+35.2%+13.6%
Q3 2021+12.7%+8.4%-3.9%
Q2 2021-4.2%-3.9%+15.7%
Q1 2021-16.3%-11.3%-12.9%
Q4 2020+5.3%+14.0%-3.2%
Q3 2020-9.2%-13.3%+10.1%
Q2 2020+0.7%+3.8%-13.7%
Q1 2020+5.2%+10.3%+8.1%
Q4 2019+16.1%+17.9%-22.5%
Q3 2019-18.2%-17.8%-20.3%
Q2 2019-10.9%-17.4%-21.2%
Q1 2019-9.3%-14.5%-4.6%
Q4 2018+21.1%+28.4%+15.6%
Q3 2018+18.7%+23.5%+31.7%
Q2 2018+5.5%+10.9%+14.1%
Q1 2018-4.6%-4.5%+6.4%
Q4 2017+19.8%+21.7%+32.9%
Q3 2017+1.6%+0.8%+13.0%
Q2 2017+8.1%+11.4%+16.3%
Q1 2017-5.0%+5.4%+22.5%
Q4 2016-16.4%-20.3%-18.7%
Q3 2016-13.2%-11.8%-8.1%
Q2 2016+16.7%+16.1%+16.2%
Q1 2016+3.6%
Q4 2015-0.6%
Q3 2015-6.7%
Q2 2015-32.8%
Q1 2015-16.3%
Q4 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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