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Etsy (DE:3E2)
FRANKFURT:3E2
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.51Last Year’s EPS
-0.41Same Quarter Last Year
Based on 22 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed cautious optimism: management reported record revenue, improving GMS momentum in Q4, stronger app engagement, improved buyer reactivation, meaningful cash generation, and a strategic $1.2B Depop sale that simplifies focus and capital allocation. However, material challenges remain — frequency and habitual buyer declines, only modest core marketplace growth (currency-neutral GMS still down), and near-term guidance that assumes only slight growth in 2026. The tone is constructive and forward-looking but balanced by explicit acknowledgment that sustained durable growth will require continued disciplined execution over multiple quarters.Company Guidance
Depop Sale Brings $1.2B Cash and Strategic Focus
Signed definitive agreement to sell Depop to eBay for $1.2 billion in cash; expected close Q2 2026 (subject to approvals). Depop FY2025 GMS $1.1B and revenue $187M; Q4 Depop GMS $300M, up ~38% YoY (U.S. GMS +60% YoY). Transaction frees capital and management focus to invest in the core Etsy marketplace and shareholder returns.
Record Quarterly Revenue and Strong Profitability
Q4 consolidated revenue was $882M, up 6.6% year-over-year (excluding Reverb) and a new quarterly record. Adjusted EBITDA was $222M with consolidated adjusted EBITDA margin of 25.2%; Etsy marketplace adjusted EBITDA margin slightly above 30% in Q4.
Improving Marketplace Gross Merchandise Sales (GMS) Momentum
Q4 consolidated GMS $3.6B, up 2.4% YoY (excluding Reverb) and +1.3% on a currency-neutral basis. Etsy marketplace GMS was +0.1% YoY in Q4 — the first positive comparison since Q3 2023 — and Q4 U.S. buyer GMS grew 0.3% YoY.
App and Personalization Driving Engagement
App GMS growth accelerated to 6.6% in Q4; mobile app contribution to total GMS reached 46% (up 5 percentage points vs end of 2023). Homepage clicks per visit +14% YoY; mobile app downloads +4% YoY. Owned personalization expanded (push and e-mail clicks +25% YoY while message volumes disciplined).
Buyer Acquisition and Reactivation Progress
Added 6.8M new buyers and reactivated 10.4M lapsed buyers for 17.2M gross additions (up 2.7% YoY). Trailing 12-month active buyers largely flat sequentially at 86.5M and U.S. trailing 12-month active buyer count increased slightly from Q3 to Q4. Trailing 12-month GMS per active buyer $121, showing stabilization/improvement for the third consecutive quarter.
Early Success in Agentic/A.I. Discovery Channels
Expanded agentic shopping partnerships (Microsoft Copilot, Google) and agentic payments with Stripe. Agentic traffic in Q4 was ~15x last year (still <1% of overall traffic) and early indicators show higher-intent buyers, higher average order value, and flow-through to on-site engagement and purchases (e.g., ChatGPT-origin orders skew higher AOV and include lapsed buyers).
Strong Cash Generation and Shareholder Returns
As of Dec 31, cash and investments $1.8B. 2025 adjusted EBITDA $735M, converting ~87% to free cash flow; returned >100% of free cash flow to shareholders in 2025. Repurchased $133M in Q4 and $777M in total share repurchases during 2025 (reduced outstanding shares by ~14.4M).
DE:3E2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:3E2 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | €38.72 | €42.80 | +10.56% |
Oct 29, 2025 | €63.84 | €59.21 | -7.25% |
Jul 30, 2025 | €52.26 | €53.96 | +3.25% |
Apr 30, 2025 | €40.37 | €38.04 | -5.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Etsy (DE:3E2) report earnings?
Etsy (DE:3E2) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Etsy (DE:3E2) earnings time?
Etsy (DE:3E2) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Etsy stock?
The P/E ratio of Etsy is N/A.
What is DE:3E2 EPS forecast?
DE:3E2 EPS forecast for the fiscal quarter 2026 (Q1) is 0.51.
