secwatch.observer — SEC 8-K summary
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Issuer:     ETSY INC (ETSY)
CIK:        0001370637
Form:       8-K
Filed at:   2025-10-29T23:59:59+00:00
Accession:  0001370637-25-000098
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370637/000137063725000098/0001370637-25-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370637/000137063725000098/etsy-20251029.htm
  HTML page:      https://secwatch.observer/filing/0001370637-25-000098

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer