ETSY (ETSY) Company Report

Etsy's Board of Directors approved a new $750 million share repurchase authorization on December 16, 2025.
This new authorization, combined with an estimated over $200 million remaining from a previous program, provides for close to $1 billion in potential future share repurchases.
The company had approximately $1.6 billion in cash as of September 30, 2025, which will support these repurchases.
Fred Wilson was appointed Lead Independent Director, effective January 1, 2026, following the leadership transition where Kruti Patel Goyal will become Chief Executive Officer and Josh Silverman will become Executive Chair on the same date.

Dec 19, 2025, 9:05 PM

8-K

Etsy Announces New Share Repurchase Authorization and Board Appointment

ETSY

Share Buyback

Board Change

CEO Change

Etsy's Board of Directors has approved a new $750 million share repurchase authorization, bringing the total potential future share repurchases to close to $1 billion when combined with the estimated remaining capacity of over $200 million under the existing program.
The company reported approximately $1.6 billion in cash as of September 30, 2025.
Fred Wilson, current Chair of the Board, will be appointed as Lead Independent Director effective January 1, 2026, following the previously announced leadership transition where Kruti Patel Goyal will become Chief Executive Officer and Josh Silverman will become Executive Chair on the same date.

Dec 18, 2025, 12:00 PM

Press Release

Etsy Announces CEO Transition and Strategic Growth Initiatives

ETSY

CEO Change

New Projects/Investments

Revenue Acceleration/Inflection

Josh Silverman will transition from CEO to Executive Chair at the end of the year, with Kruti Patel Goyal, current Chief Growth Officer, taking over as CEO in January.
Under Silverman's leadership, Etsy's gross merchandise sales (GMS) grew from $2.5 billion in 2017 to $10 billion, with revenue increasing 7-8 times and free cash flow reaching approximately $750 million last year. The company is now focused on evolving into a place of discovery and inspiration.
Etsy is heavily investing in machine learning and LLMs to enhance search, discovery, and recommendations, with the new app discovery feed delivering double-digit improvements in engagement.
Etsy was an early partner with OpenAI for integrated shopping checkout, viewing agentic commerce as an offensive growth opportunity due to its unique inventory.
The Depop platform, part of the Etsy umbrella, experienced 60% year-over-year GMS growth in Q3 and has doubled its GMS and buyers over three years, leading to targeted marketing investments to expand awareness.

Dec 9, 2025, 6:40 PM

Transcript

Etsy Announces CEO Transition and Strategic Growth Initiatives

ETSY

CEO Change

Management Change

New Projects/Investments

Etsy is undergoing a CEO transition, with Josh Silverman stepping down at year-end 2025 to become Executive Chair, and Kruti Patel Goyal, currently Chief Growth Officer, taking over as CEO in January 2026.
Since 2017, Etsy has significantly transformed, growing from $2.5 billion in gross merchandise sales (GMS) and $200 million in revenue to $10 billion in GMS and seven or eight times larger revenue, achieving approximately $750 million in free cash flow last year.
Etsy's strategy for sustained growth focuses on four priorities: being present, relevant, loyal, and human, leveraging AI and machine learning to enhance personalization and discovery, and actively engaging in agentic shopping.
Depop, an Etsy subsidiary, has demonstrated strong performance, with 60% year-over-year GMS growth in Q3 and a doubling of its business scale in GMS and buyers over three years, leading to increased marketing investments to expand awareness in the U.S..

Dec 9, 2025, 6:40 PM

Transcript

Etsy Announces CEO Transition and Strategic Growth Initiatives

ETSY

CEO Change

Management Change

New Projects/Investments

Josh Silverman will step down as CEO of Etsy at the end of 2025 to become Executive Chair, with Kruti Patel Goyal, current Chief Growth Officer, taking over as CEO in January 2026.
Under Silverman's leadership since 2017, Etsy's gross merchandise sales (GMS) grew from $2.5 billion to $10 billion, and revenue increased 7-8 times, with approximately $750 million in free cash flow last year.
Incoming CEO Kruti Patel Goyal's strategy for sustained growth focuses on enhancing the shopping experience through discovery, relevance, loyalty, and human connection, driven by significant investments in machine learning and LLMs. These efforts have already led to double-digit improvements in app engagement and impressive GMS improvements from personalized marketing content.
Etsy is actively pursuing agentic commerce, being the first partner for integrated checkout with OpenAI, leveraging its unique inventory to drive incremental commerce and visits. Additionally, its subsidiary Depop demonstrated strong performance, with GMS growing 60% year-over-year in Q3 and a doubling of its business scale over three years, supported by targeted surge marketing investments.

Dec 9, 2025, 6:40 PM

Transcript

Amplify ETFs recognized as Best Crypto-Linked ETF Issuer

ETSY

New Projects/Investments

Product Launch

Amplify ETFs was named "Best Crypto-Linked ETF Issuer ($100 million–$1 billion)" by ETF Express on November 6, 2025.
As of November 4, 2025, Amplify manages over $1.35 billion in assets across six crypto-related ETFs, with three additional digital asset-focused strategies registered.
The firm launched the first actively managed blockchain ETF, Amplify Blockchain Technology ETF (BLOK), in 2018.
As of October 31, 2025, BLOK has achieved a 60.36% NAV year-to-date return and a 345.77% NAV return since its inception on January 16, 2018.

Nov 6, 2025, 12:00 PM

Press Release

Etsy Announces CEO Succession and Revised Q4 Outlook

ETSY

CEO Change

Management Change

Guidance Update

Etsy announced a CEO transition, with Kruti Patel Goyal set to succeed Josh Silverman as CEO starting January 1, 2026. Silverman will remain Executive Chair through 2026, and Board Chair Fred Wilson will step down from his role but stay on the board.
Goyal's prior leadership at Depop saw gross merchandise sales jump 39.4% to $292.1 million in Q3 2025, contrasting with Etsy's overall declines in GMS and active buyers.
For Q3 2025, Etsy reported an increase in earnings and revenue, surpassing analyst expectations, despite a 5% decline in active buyers and a 6.5% drop in gross merchandise sales.
The company has revised its gross merchandise sales outlook lower for Q4 2025 to between $3.5 billion and $3.65 billion, below the $3.7 billion GMS of Q4 2024, signaling expectations of slower demand.

Oct 29, 2025, 2:41 PM

CNBC

Etsy Announces CEO Transition and Exceeds Q3 2025 Expectations

ETSY

CEO Change

Earnings

Guidance Update

Etsy announced a CEO transition, with Josh Silverman moving to Executive Chair and Kruti Patel Goyal becoming CEO effective January 1, 2026.
The company reported Q3 2025 results exceeding expectations on GMS, revenue, and adjusted EBITDA. Consolidated GMS was $2.72 billion, and consolidated revenue was $678 million, representing 0.9% and 6.1% year-over-year growth respectively (excluding Reverb). Adjusted EBITDA was $172 million with a 25.4% margin.
Depop's GMS accelerated 39.4% year-over-year to $292 million in Q3 2025, driven by new user growth and improvements in buyer conversion.
Etsy provided Q4 2025 guidance, expecting consolidated GMS between $3.5 billion and $3.65 billion, and an adjusted EBITDA margin of approximately 24%.
In Q3 2025, Etsy repurchased 2.1 million shares for approximately $120 million, contributing to a 17% reduction in share count since December 2023.

Oct 29, 2025, 12:30 PM

Transcript

Etsy Announces CEO Transition and Strong Q3 2025 Results

ETSY

CEO Change

Earnings

Guidance Update

New Projects/Investments

Josh Silverman will transition from CEO to Executive Chair, with Kruti Patel Goyal appointed as the new CEO, effective January 1, 2026.
For Q3 2025, consolidated GMS reached $2.72 billion, exceeding guidance, and consolidated revenue grew 6.1% year over year (excluding Reverb) to $678 million. Adjusted EBITDA was $172 million, representing a 25.4% margin.
Etsy Marketplace GMS was $2.43 billion, down 2.4% year over year, but improved 300 basis points sequentially. Depop's GMS grew 39.4% year over year to $292 million.
Etsy became the first live partner for OpenAI's Instant Checkout feature, allowing direct purchases through ChatGPT. Mobile app GMS accelerated to mid-single-digit year-over-year growth, contributing 46% of total GMS.
Management expects further sequential improvement in the year-over-year growth rate for both consolidated and Etsy business at the midpoint of their Q4 2025 guidance.

Oct 29, 2025, 12:30 PM

Transcript

Etsy Reports Q3 2025 Results and Provides Q4 2025 Guidance

ETSY

Earnings

Guidance Update

Share Buyback

Q3 2025 consolidated revenue reached $678 million, an increase of 6.1% year-over-year excluding Reverb, with consolidated GMS at $2.7 billion, up 0.9% year-over-year excluding Reverb.
Adjusted EBITDA for Q3 2025 was $172 million, achieving a 25.4% margin, and the consolidated take rate expanded 220 basis points year-over-year to 24.9%.
Etsy marketplace GMS was $2.4 billion, a 2.4% year-over-year decrease, and active buyers declined 5.0% year-over-year to 86.6 million.
The company generated $205 million in consolidated free cash flow and executed ~$120 million in share repurchases during Q3 2025.
For Q4 2025, Etsy anticipates GMS between $3.5 billion and $3.65 billion, a take rate of approximately 24.5%, and an Adjusted EBITDA Margin of approximately 24%.

Oct 29, 2025, 12:30 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for ETSY.

Q3 2025

Oct 29, 2025

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Q2 2025

Jul 30, 2025

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Q1 2025

Apr 30, 2025

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ETSY (ETSY)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Josh Silverman

Brad Minor

Colin Stretch

Kruti Patel Goyal

Lanny Baker

Nicholas Daniel

Rafe Colburn

Toni Thompson

Board Members

C. Andrew Ballard

David S. Rosenblatt

Fred Wilson

Gary S. Briggs

M. Michele Burns

Marc Steinberg

Margaret M. Smyth

Marla Blow

Melissa Reiff

Analyst Coverage

Nikhil Devnani

Bryan Smilek

Eric Sheridan

Maria Ripps

Ygal Arounian

Youssef Squali

Anna Andreeva

John Colantuoni

Marvin Fong

Michael Morton

Naved Khan

Robert Coolbrith

Shweta Khajuria

Steve Forbes

Bernard McTernan

Chris Kuntarich

Curtis Nagle

Deepak Mathivanan

Edward Yruma

Jason Helfstein

Kenneth Gawrelski

Lee Horowitz

Maria Rips

Mark Kelley

Nathaniel Feather

Nicholas Jones

Scott Devitt

Steven Forbes

Trevor Young

Latest news

Earnings Transcripts

Q3 2025

Q2 2025

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