---
schema_version: "secwatch.filing_event.v1"
accession: "0001370637-25-000098"
form_type: "8-K"
ticker: "ETSY"
cik: "0001370637"
company_name: "ETSY INC"
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:36:30.640687+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Etsy Q3 beats expectations; consolidated GMS returns to growth excl Reverb; Depop surges 39%

## Summary
- Consolidated Q3 GMS $2.72B, up 0.9% YoY (excl Reverb); revenue $678M, up 6.1%; Adjusted EBITDA $172M, margin 25.4%.
- Etsy marketplace GMS $2.43B, down 2.4% YoY but improved sequentially; Depop GMS $292M, up 39.4% YoY.
- Net income $75.5M ($0.63 diluted EPS) vs $57.4M a year ago; repurchased $120M of stock in Q3.
- Partnership with OpenAI to let ChatGPT users shop Etsy; new seller AI tools and app enhancements.
- Q4 guidance: GMS $3.5B-$3.65B, take rate ~24.5%, Adj EBITDA margin ~24% — sequential improvement expected.

## SEC filing metadata
- accession: 0001370637-25-000098
- form_type: 8-K
- ticker: ETSY
- cik: 0001370637
- company_name: ETSY INC
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370637/000137063725000098/0001370637-25-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370637/000137063725000098/etsy-20251029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001370637-25-000098
- JSON: https://secwatch.observer/filing/0001370637-25-000098.json
- Plain text: https://secwatch.observer/filing/0001370637-25-000098.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.