Q4 25 EPS
$0.92
BEAT +7.61%
Est. $0.85
Q4 25 Revenue
$881.6M
MISS 0.27%
Est. $884.0M
vs S&P Since Q4 25
+54.4%
BEATING MARKET
ETSY +60.8% vs S&P +6.4%
Full Year 2025 Results
FY 25 EPS
$1.39
BEAT +7.20%
Est. $1.30
FY 25 Revenue
$2.88B
MISS 0.10%
Est. $2.89B
Market Reaction
Did ETSY Beat Earnings? Q4 2025 Results
Etsy delivered a mixed but strategically pivotal Q4 2025, beating on the bottom line while falling just short on revenue as the company's marquee Depop sale to eBay for $1.2 billion reshaped the investment narrative. Earnings per share came in at $0.… Read more Etsy delivered a mixed but strategically pivotal Q4 2025, beating on the bottom line while falling just short on revenue as the company's marquee Depop sale to eBay for $1.2 billion reshaped the investment narrative. Earnings per share came in at $0.92, clearing the $0.85 consensus by 7.63%, while revenue of $881.64 million grew 3.5% year-over-year but missed the $884.54 million estimate by 0.33%. The more important signal was underneath the headline: the core Etsy marketplace returned to positive GMS growth for the first time in several quarters, with take rate expanding to 24.5% from 22.8% a year ago as on-site advertising strength more than offset softness in buyer trends. Active buyer declines moderated to 3.4% year-over-year, offering early evidence that stabilization efforts are gaining traction. Looking ahead, management guided Q1 2026 Adjusted EBITDA margin of 28-30% and expects full-year GMS to grow year-over-year in every quarter, framing 2026 as the first chapter of a leaner, single-marketplace Etsy.
Key Takeaways
- • Strong consolidated on-site ads performance driving revenue growth
- • Etsy app GMS grew 6.6% YoY, representing approximately 46% of Etsy marketplace GMS
- • Email and push clicks up more than 25% YoY with disciplined send volume
- • Depop GMS surged 37.2% YoY on currency-neutral basis, with U.S. buyer GMS up 60.2%
- • Etsy outperformed peers in half of top six categories based on Consumer Edge data
- • Home and Living category grew year-over-year on Etsy marketplace
- • Gross buyer additions grew 2.7% YoY with 6.8 million new buyers and 10.4 million reactivated buyers
ETSY YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
ETSY Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our clear strategic focus and solid execution are driving progress on the journey to bring the Etsy marketplace back to sustained growth. What sets Etsy apart is not just what we sell, but who we're built for: buyers seeking something personal and sellers bringing creativity to life. By strengthening how we connect the right people with the right items at the right moments, we see a meaningful opportunity to grow relevance, engagement, and market share over time, while continuing to deliver long-term value to all of our stakeholders.”
— Kruti Patel Goyal, Q4 2025 Earnings Press Release
ETSY Earnings Trends
ETSY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ETSY EPS Trend
Earnings per share: estimate vs actual
ETSY Revenue Trend
Quarterly revenue: estimate vs actual
ETSY Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 | — | — | — | $631.0M | +2.22% |
| Q4 25 BEAT FY | $0.85 | $0.92 | +7.61% | $881.6M | -0.27% |
| FY Full Year | $1.30 | $1.39 | +7.20% | $2.88B | -0.10% |
| Q3 25 BEAT | $0.52 | $0.63 | +21.11% | $678.0M | +3.18% |
| Q2 25 MISS | $0.49 | $0.25 | -49.29% | $672.7M | +3.86% |
| Q1 25 MISS | $0.47 | $-0.49 | -204.34% | $651.2M | +1.48% |