Etsy Q2 GMS +7.5% YoY, net income $114M; announces 12% workforce reduction and $2B buyback

ETSY INC

Q2 Etsy marketplace GMS $2.6B (+7.5% YoY); revenue $668M (+9.3% YoY); net income $114M (+$67M YoY).
Adjusted EBITDA $195M (29.2% margin); company raises 2026 outlook.
Restructuring plan cuts ~220 jobs (12% of workforce); expects ~$35M in severance charges, substantially complete by Q3 2026.
Board authorizes new $2B stock repurchase program with no expiration.
Completed sale of Depop to eBay on July 30, 2026; Depop reported as discontinued operations.

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