Etsy Q3 2025 Earnings Release

Etsy, Inc. announced its financial results for the third quarter ended September 30, 2025. The company reported consolidated GMS of $2.7 billion, up 0.9% year-over-year excluding Reverb from the prior-year period. Revenue increased by 6.1% year-over-year to $678 million, driven by strong performance in on-site ads. Net income was $75.5 million, up $18.1 million year-over-year, with a net income margin of 11.1%. Non-GAAP Adjusted EBITDA was $171.9 million, representing a margin of 25.4%. Etsy's marketplace GMS was $2.4 billion, down 2.4% year-over-year, while Depop's GMS grew 39.4% to $292.1 million. The company also highlighted key initiatives, including a partnership with OpenAI to integrate Etsy listings into ChatGPT and enhancements to the Etsy App. Etsy repurchased $120 million worth of its common stock during the quarter.