secwatch.observer — SEC 8-K summary
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Issuer:     ETSY INC (ETSY)
CIK:        0001370637
Form:       8-K
Filed at:   2026-02-19T23:59:59+00:00
Accession:  0001370637-26-000017
Event type: earnings
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1370637/000137063726000017/0001370637-26-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1370637/000137063726000017/etsy-20260219.htm
  HTML page:      https://secwatch.observer/filing/0001370637-26-000017

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