---
schema_version: "secwatch.filing_event.v1"
accession: "0001370637-26-000017"
form_type: "8-K"
ticker: "ETSY"
cik: "0001370637"
company_name: "ETSY INC"
filed_at: "2026-02-19T23:59:59+00:00"
generated_at: "2026-05-16T01:41:38.513606+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Etsy Q4 2025 revenue $881.6M, Adj EBITDA margin 25.2%; sells Depop to eBay for $1.2B

## Summary
- Q4 2025 consolidated GMS $3.59B (-3.8% YoY as reported, +2.4% ex-Reverb); revenue $881.6M (+3.5%); net income $110.7M, diluted EPS $0.92.
- Etsy marketplace GMS $3.29B (+0.1% YoY); active buyers 86.5M (-3.4%); gross buyer additions 17.2M (+2.7% YoY).
- Agreed to sell Depop to eBay for $1.2B cash; expected close Q2 2026. Depop Q4 GMS $299.7M (+37.2% YoY currency-neutral).
- Q1 2026 guidance: GMS $2.38B-2.43B, take rate ~25.5%, Adj EBITDA margin 28-30%; FY 2026 expects slight GMS growth with positive YoY each quarter.
- Repurchased $133M of stock in Q4 2025; cash and investments $1.8B at December 31, 2025.

## SEC filing metadata
- accession: 0001370637-26-000017
- form_type: 8-K
- ticker: ETSY
- cik: 0001370637
- company_name: ETSY INC
- filed_at: 2026-02-19T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370637/000137063726000017/0001370637-26-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370637/000137063726000017/etsy-20260219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001370637-26-000017
- JSON: https://secwatch.observer/filing/0001370637-26-000017.json
- Plain text: https://secwatch.observer/filing/0001370637-26-000017.txt

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