AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 continuing operations revenue rose 6.2% YoY to $668.3M, with net income from continuing operations surging 150.5% to $114.3M, though total net loss of $46.7M reflects Depop discontinued operations charge.
Biggest Revenue Drivers
Marketplace revenue$456.1M+4.8% YoY
Increase in Etsy transaction fees and payments revenue driven by higher Etsy marketplace GMS, partially offset by Reverb sale
Services revenue$212.2M+9.3% YoY
Increase in advertising revenue primarily from higher click volume on Etsy Ads
Biggest Revenue Drivers
Total revenue: $668.3M+6.2% YoY
Marketplace revenue$456.1M+4.8% YoY
Increase in Etsy transaction fees and payments revenue driven by higher Etsy marketplace GMS, partially offset by Reverb sale
Services revenue$212.2M+9.3% YoY
Increase in advertising revenue primarily from higher click volume on Etsy Ads
Largest Expense Items
Cost of revenue$184.3M+9.3% YoY
Increase in payments fees, cost of refunds, and cloud-related hosting costs, partially offset by Reverb sale
Marketing$190.9M-0.1% YoY
Stable despite Reverb sale, offset by targeted portfolio mix shifts supporting incremental spend
Product development$100.9M+1.6% YoY
Increase from higher cash-based compensation and benefits, partially offset by lower stock-based compensation
General and administrative$66.9M-12.0% YoY
Decrease from Reverb sale, lower professional services, and net favorable non-income tax items
Watch Items from the Filing
Depop discontinued operations generated a $161M loss in Q2 2026 (vs. $16.8M in Q2 2025) reflecting pre-sale investments; estimated $840M gain expected upon sale closing on July 30, 2026.
Restructuring Plan approved August 3, 2026 reduces workforce by ~220 employees (12%) with $35M in expected charges; execution risk on achieving intended benefits and potential unplanned attrition.
Etsy marketplace active buyers declined 0.4% YoY to 87.0M despite 7.5% GMS growth, indicating buyer engagement challenges partially offset by higher spend per buyer (+2.8% YoY).
U.S. represents 75% of Etsy marketplace GMS; international growth hindered by tariff barriers including de minimis exemption removal in U.S. (July 2027), EU (July 2026), and UK, creating headwinds.
Convertible debt of $2,999.9M ($649.9M due October 2026) presents maturity risk; 2019 Notes become freely convertible June 1, 2026, triggering potential dilution if holders convert.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
8 transactions in ETSY reported by 2 members of Congress under the STOCK Act, most recent trade May 8, 2023. Reported transactions, not recommendations.
About ETSY INC (ETSY): stock profile, AI score and financials
ETSY INC (ETSY) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores ETSY at 57.0/100 on a composite quality score built from its SEC filings, placing it at rank #1,112 of 2,925 stocks — the top half of the AI-ranked universe. ETSY scores in the top quartile across earnings quality (84.9), balance sheet strength (81.7), free cash flow (76.7). Areas of concern include revenue growth (29.8) and institutional flow (34.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 17.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), ETSY INC reports quarterly revenue of $668.3M, net income of $-46.6M, an operating margin of 18.7%. Top institutional holders of ETSY by reported 13-F value include BlackRock, RENAISSANCE TECHNOLOGIES, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. ETSY trades on the NYSE exchange and files with the SEC under CIK 1370637. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ETSY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ETSY INC directly from SEC EDGAR.