secwatch.observer — SEC 8-K summary
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Issuer:     ETSY INC (ETSY)
CIK:        0001370637
Form:       8-K
Filed at:   2025-04-30T23:59:59+00:00
Accession:  0001370637-25-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Etsy Q1 net loss of $52M on $101.7M Reverb impairment; GMS falls 6.5%
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- Consolidated GMS $2.8B (-6.5% YoY); revenue $651M (+0.8%); net loss $52.1M vs net income $63M.
- Etsy marketplace GMS $2.3B (-8.9% YoY); active buyers 88.5M (-3.4%); habitual buyers 6.2M (-11%).
- Non-GAAP adjusted EBITDA $171.1M (26.3% margin); Q2 guidance ~25% adjusted EBITDA margin.
- Goodwill impairment of $101.7M on Reverb; definitive agreement signed to sell Reverb announced April 22.
- Repurchased $189M shares in Q1; cash and investments $997M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370637/000137063725000038/0001370637-25-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370637/000137063725000038/etsy-20250430.htm
  HTML page:      https://secwatch.observer/filing/0001370637-25-000038

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