This strong beat with accelerating GMS growth supports near-term bullish momentum, but the Depop sale introduces execution risk and the full-year guide remains conservative. Monitor regulatory approvals for the Depop transaction and Q2 results for confirmation of sustained growth.
Price Chart
Executive Summary
Etsy reported a strong Q1 2026 beat on both EPS ($0.89 vs $0.62 consensus) and revenue ($631.3M vs $617.3M). Etsy marketplace GMS grew 5.5% YoY, and continuing operations net income swung to $104.7M from a -$35.1M loss a year ago. The company also announced the pending sale of Depop to eBay for $1.2B, expected to close by end of Q3 2026, and provided Q2 guidance with 3-5% GMS growth and 27-29% Adj. EBITDA margin.
Key Financial Metrics
Key Facts
- Q1 2026 continuing ops EPS $0.89 vs consensus $0.62 (+43.5% beat)
- Q1 2026 continuing ops revenue $631.3M vs consensus $617.3M (+2.3% beat)
- Etsy marketplace GMS grew 5.5% YoY to $2.5B, second consecutive quarter of YoY growth
- Continuing ops net income $104.7M vs -$35.1M in Q1 2025; Adjusted EBITDA $184.7M with 29.3% margin
- Depop sale to eBay for $1.2B signed Feb 15, 2026; closing expected by end of Q3 2026
- Q2 2026 guidance: GMS $2.48B-$2.53B, take rate 25.7%, Adj. EBITDA margin 27-29%
- Full-year outlook: low single-digit GMS growth, Adj. EBITDA margin 28-30% unchanged
- Etsy repurchased $145M in stock during Q1, reducing share count by 2.7M shares
Financial Impact
EPS beat of $0.27 (43.5%) and revenue beat of $14M (2.3%)
Risk Factors
- Depop sale closing delays or regulatory hurdles could weigh on sentiment
- Macro consumer spending and tariff impacts on discretionary goods
- Modest full-year GMS guidance caps upside expectations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001370637-26-000042 |
| Document: etsy-20260429.htm | 0001370637-26-000042 |
| Document: 0001370637-26-000042-index-headers.html | 0001370637-26-000042 |
| Document: 0001370637-26-000042-index.html | 0001370637-26-000042 |
| Document: 0001370637-26-000042.txt | 0001370637-26-000042 |
| 8-K Data (Synthetic) | 0001370637-26-000042 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 28d ago | Insider Cluster | $76.51 $74.46 | ▼ −2.68% | ▼ −1.47% | $72.74 (−4.93%) |
Aug 19, 2026 6w ago | Insider Cluster | $81.21 $82.94 | ▲ +2.13% | ▲ +1.02% | $72.74 (−10.43%) |
Aug 19, 2026 6w ago | Insider Cluster | $81.21 $82.94 | ▲ +2.13% | ▲ +1.02% | $72.74 (−10.43%) |
Aug 12, 2026 7w ago | Insider Cluster | $79.63 $80.15 | ▲ +0.66% | ▲ +1.10% | $72.74 (−8.65%) |
Aug 6, 2026 8w ago | Insider Cluster | $85.09 $79.90 | ▼ −6.10% | ▼ −6.50% | $72.74 (−14.52%) |
Aug 4, 2026 8w ago | Insider Cluster | $85.86 $79.63 | ▼ −7.26% | ▼ −7.61% | $72.74 (−15.28%) |
Aug 4, 2026 8w ago | 144 | $85.86 $79.63 | ▼ −7.26% | ▼ −7.61% | $72.74 (−15.28%) |
Jul 17, 2026 11w ago | Press Release | $84.10 $80.91 | ▼ −3.79% | ▼ −3.11% | $72.74 (−13.51%) |
Jul 17, 2026 11w ago | Insider Cluster | $84.10 $80.91 | ▲ +3.79% | ▲ +3.11% | $72.74 (+13.51%) |
Jul 16, 2026 11w ago | 8-K | $83.48 $80.91 | ▼ −3.08% | ▼ −1.41% | $72.74 (−12.87%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access