ETSY INC

Listed Company

ETSYCIK 0001370637NYSELarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.88B

Net Income

$162.98M

Total Assets

$2.83B

Equity

$-1.10B

Shares Out

94.90M

Op. Cash Flow

$693.41M

Business

ETSY INC operates two-sided online marketplaces that connect creative sellers with buyers seeking unique, handcrafted, and resale goods. It offers core marketplace services—including listing and transaction platforms—alongside value-added seller tools such as advertising, payments processing, shipping labels, and analytics to help sellers grow. The business is organized as a “House of Brands” with the Etsy marketplace and subsidiary marketplaces Reverb (musical instruments) and Depop (fashion resale) operating largely independently while sharing technology and product expertise. Its marketplaces serve a global customer base through desktop and mobile web experiences and a dedicated shopping app, enabling cross-border transactions and localized features.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,884	2,808	2,748	2,566	2,329
Cost of revenue	818	775	829	745	655
Gross profit	2,066	2,034	1,920	1,822	1,675
Marketing	915	857	759	710	655
Product development	450	443	469	412	272
General and administrative	333	354	343	312	283
Asset impairment charges	102	0	68	1,045	0
Total operating expenses	1,799	1,654	1,640	2,480	1,209
Income from operations	266	380	280	−659	466
Interest expense	−19	−14	−14	−14	—
Interest and other income	44	31	36	11	2
Foreign exchange (loss) gain	−40	13	−6	−206,000	14
Loss on sale of business	−5	0	−3	0	0
Total other (expense) income	−20	31	13	−3	6
Income before income taxes	247	411	293	−662	472
(Provision) benefit for income taxes	−84	−107	15	−32	22
Net income	163	303	308	−694	494
Basic (in dollars per share)	1.59	2.64	2.51	−5.48	3.88
Diluted (in dollars per share)	1.39	2.35	2.24	−5.48	3.4
Basic (in shares)	102	115	123	127	127
Diluted (in shares)	124	132	140	127	147

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,396	811	914	921	780
Short-term investments	224	228	236	250	204
Accounts receivable, net	9	9	25	28	27
Prepaid and other current assets	127	90	130	80	109
Funds receivable and seller accounts	205	190	265	234	220
Total current assets	1,961	1,328	1,570	1,514	1,342
Restricted cash	9	0	0	—	—
Property and equipment, net	229	237	250	250	275
Goodwill	38	137	138	138	1,371
Intangible assets, net	297	414	457	535	607
Deferred tax assets	119	146	138	122	96
Long-term investments	134	112	87	29	85
Other assets	39	45	45	42	51
Total assets	2,827	2,418	2,685	2,635	3,832
Accounts payable	29	26	30	29	28
Accrued expenses	393	375	354	331	328
Short-term debt, net	649	0	—	—	—
Funds payable and amounts due to sellers	205	190	265	234	220
Deferred revenue	27	19	15	14	12
Other current liabilities	61	55	41	19	25
Total current liabilities	1,364	665	711	632	616
Finance lease obligationsnet of current portion	93	93	100	106	110
Deferred tax liabilities	9	8	13	45	79
Long-term debt, net	2,333	2,288	2,284	2,280	2,275
Other liabilities	126	122	122	120	122
Total liabilities	3,925	3,177	3,229	3,182	3,203
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock ($0.001 par value, 1,400,000 shares authorized as of December 31, 2025 and 2024; 97,031 and 108,540 shares issued and outstanding as of December 31, 2025 and 2024, respectively)	97,000	109,000	119,000	125,000	127,000
Preferred stock ($0.001 par value, 25,000 shares authorized as of December 31, 2025 and 2024)	0	0	0	0	0
Additional paid-in capital	1,532	1,323	1,081	815	632
Accumulated deficit	−2,404	−1,784	−1,357	−1,048	72
Accumulated other comprehensive loss	−226	−298	−267	−314	−75
Total stockholders' deficit	−1,098	−759	−544	−547	629
Total liabilities and stockholders deficit	2,827	2,418	2,685	2,635	3,832

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	245	283	285	231	140
Depreciation and amortization expense	102	108	91	97	74
Provision for expected credit losses	9	12	20	12	16
Deferred provision (benefit) for income taxes	39	−14	−50	−55	−89
Other non-cash expense (income), net	35	−19	8	8	7
Accounts receivable	−10	4	−16	−14	−19
Funds receivable and seller accounts	−23	69	−29	−21	−84
Prepaid expenses and other current assets	−34	39	−47	24	−44
Other assets	5	−1	−2	7	−25
Accounts payable	2	−4	3	532,000	−14
Accrued and other current liabilities	28	34	34	6	85
Funds payable and amounts due to sellers	23	−69	29	21	84
Deferred revenue	7	5	457,000	2	1
Other liabilities	1	3	5	14	40
Net cash provided by operating activities	693	752	706	684	652
Purchases of property and equipment	−15	−14	−13	−10	−11
Website and app development	−39	−29	−27	−21	−17
Purchases of investments	−327	−331	−343	−270	−419
Sales and maturities of investments	313	321	309	278	591
Proceeds from sale of business, net of cash	100	0	0	—	—
Net cash provided by (used in) investing activities	32	−53	−73	−30	−1,558
Payment of tax obligations on vested equity awards	−75	−62	−83	−79	−118
Repurchase of stock	−777	−724	−577	−426	−303
Proceeds from exercise of stock options	18	4	14	15	23
Proceeds from issuance of convertible senior notes	700	0	0	0	1,000
Payment of debt issuance costs	−11	0	0	−25,000	−13
Payments on finance lease obligations	−6	−6	−6	−6	−9
Other financing, net	−18	503,000	−4	−10	2
Net cash used in financing activities	−170	−787	−657	−506	453
Effect of exchange rate changes on cash	38	−15	12	−6	−10
Net increase (decrease) in cash, cash equivalents, and restricted cash	593	−103	−12	141	−464
Cash paid for interest	12	9	9	10	6
Stock-based compensation capitalized in website and app development	22	16	15	—	—
Excise tax payable	6	6	6	0	0
Lease assets obtained in exchange for new lease liabilities	0	5	8	2	68
Deferred consideration	0	1	5	17	0

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro