Etsy Inc | 10-Q: Q2 2025 Earnings Report

Etsy Inc reported Q2 2025 revenue of $672.7 million, up 3.8% year-over-year, with net income of $28.8 million. Marketplace revenue declined 0.5% to $468.2 million, while Services revenue grew 15.3% to $204.5 million, driven by a 12.7% increase in on-site advertising revenue. Gross merchandise sales (GMS) decreased 4.8% to $2.8 billion.The company completed the sale of Reverb on June 2, 2025, recording a $5.1 million loss on the transaction. During the quarter, Etsy issued $700 million in 1.00% Convertible Senior Notes due 2030 and repurchased approximately 6.4 million shares of common stock for $337.6 million, including $150 million concurrent with the notes issuance.Operating expenses increased 2.3% to $402.7 million, while marketing expenses rose 15.9% to $212.1 million due to increased performance marketing investments. The company maintained a strong liquidity position with $1.4 billion in cash and short-term investments as of quarter-end. Active buyers declined 3.4% year-over-year to 93.3 million, while active sellers decreased 7.8% to 8.1 million.

Etsy Inc reported Q2 2025 revenue of $672.7 million, up 3.8% year-over-year, with net income of $28.8 million. Marketplace revenue declined 0.5% to $468.2 million, while Services revenue grew 15.3% to $204.5 million, driven by a 12.7% increase in on-site advertising revenue. Gross merchandise sales (GMS) decreased 4.8% to $2.8 billion.The company completed the sale of Reverb on June 2, 2025, recording a $5.1 million loss on the transaction. During the quarter, Etsy issued $700 million in 1.00% Convertible Senior Notes due 2030 and repurchased approximately 6.4 million shares of common stock for $337.6 million, including $150 million concurrent with the notes issuance.Operating expenses increased 2.3% to $402.7 million, while marketing expenses rose 15.9% to $212.1 million due to increased performance marketing investments. The company maintained a strong liquidity position with $1.4 billion in cash and short-term investments as of quarter-end. Active buyers declined 3.4% year-over-year to 93.3 million, while active sellers decreased 7.8% to 8.1 million.