Etsy Inc. (ETSY) financial statements: income statement, balance sheet and cash flow
Etsy Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Etsy Inc. reported revenue of $2.9B (+2.7% year on year) and net income of $163.0M (-46.3% year on year).
Income statement
Etsy Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$2.9B
$2.8B
$2.7B
$2.6B
Cost of revenue
$817.8M
$774.6M
$828.7M
$744.6M
Gross profit
$2.1B
$2.0B
$1.9B
$1.8B
Marketing
$914.8M
$856.6M
$759.2M
$710.4M
Product development
$450.2M
$443.1M
$469.3M
$412.4M
General and administrative
$332.8M
$353.9M
$343.2M
$312.3M
Asset impairment charges
$101.7M
$0
$68.1M
—
Total operating expenses
$1.8B
$1.7B
$1.6B
$2.5B
Income from operations
$266.2M
$380.2M
$279.8M
($658.6M)
Interest expense
($18.5M)
($13.8M)
($14.0M)
($14.2M)
Interest and other income
$44.5M
$31.0M
$36.0M
$11.0M
Foreign exchange (loss) gain
($40.4M)
$13.4M
($6.3M)
($206.0K)
Loss on sale of business
($5.1M)
$0
($2.6M)
—
Total other (expense) income
($19.5M)
$30.6M
$13.0M
($3.4M)
Income before income taxes
$246.7M
$410.8M
$292.8M
($662.0M)
(Provision) benefit for income taxes
($83.7M)
($107.5M)
$14.7M
($32.3M)
Net income
$163.0M
$303.3M
$307.6M
($694.3M)
Basic (in dollars per share)
$1.59
$2.64
$2.51
-$5.48
Diluted (in dollars per share)
$1.39
$2.35
$2.24
-$5.48
Basic (in shares)
102.4M
114.9M
122.5M
126.8M
Diluted (in shares)
124.1M
131.7M
140.1M
126.8M
Etsy Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$668.3M
$631.3M
$678.0M
$672.7M
Cost of revenue
$184.3M
$175.7M
$194.6M
$193.5M
Gross profit
$484.0M
$455.6M
$483.4M
$479.1M
Marketing
$190.9M
$174.2M
$207.8M
$212.1M
Product development
$100.9M
$99.1M
$113.4M
$111.9M
General and administrative
$66.9M
$62.5M
$79.5M
$78.7M
Asset impairment charge
$0
$0
$0
$0
Total operating expenses
$358.8M
$335.8M
$400.7M
$402.7M
Income from operations
$125.3M
$119.8M
$82.7M
$76.4M
Interest expense
($5.6M)
—
($5.7M)
($3.8M)
Interest and other income
$11.5M
—
$14.3M
$9.0M
Foreign exchange gain (loss)
$3.8M
—
$777.0K
($25.4M)
Loss on sale of business
$0
—
$0
($5.1M)
Other income (expense), net
$9.7M
$9.4M
—
—
Income from continuing operations before income taxes
$135.0M
$129.3M
$92.1M
$51.1M
Provision for income taxes from continuing operations
($20.6M)
($24.6M)
($16.6M)
($22.3M)
Net income from continuing operations
$114.3M
$104.7M
—
—
Loss from discontinued operations before income taxes
($160.8M)
($35.8M)
—
—
(Provision) benefit for income taxes from discontinued operations
($220.0K)
$827.0K
—
—
Net loss from discontinued operations
($161.0M)
($35.0M)
—
—
Net (loss) income
($46.6M)
$69.7M
$75.5M
$28.8M
Basic net income from continuing operations per share attributable to common stockholders (in dollars per share)
$1.21
$1.09
—
—
Total basic net (loss) income per share attributable to common stockholders (in dollars per share)
-$0.49
$0.72
$0.76
$0.28
Diluted net income from continuing operations per share attributable to common stockholders (in dollars per share)
$0.98
$0.89
—
—
Total diluted net (loss) income per share attributable to common stockholders (in dollars per share)
-$0.36
$0.60
$0.63
$0.25
Basic (in shares)
94.4M
96.2M
99.3M
103.2M
Diluted (in shares)
120.0M
121.0M
125.0M
121.5M
Balance sheet
Etsy Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.4B
$811.2M
$914.3M
$921.3M
Short-term investments
$224.1M
$228.3M
$236.1M
$250.4M
Accounts receivable, net
$8.7M
$8.7M
$24.7M
$27.9M
Prepaid and other current assets
$127.4M
$89.9M
$129.9M
$80.2M
Funds receivable and seller accounts
$205.0M
$189.6M
$265.4M
$234.0M
Total current assets
$2.0B
$1.3B
$1.6B
$1.5B
Restricted cash
$8.5M
—
$0
$5.3M
Property and equipment, net
$229.2M
$236.7M
$249.8M
$249.7M
Goodwill
$38.1M
$137.1M
$138.4M
$137.7M
Intangible assets, net
$297.4M
$413.9M
$457.1M
$535.4M
Deferred tax assets
$119.3M
$145.6M
$137.8M
$121.5M
Long-term investments
$134.4M
$111.7M
$86.7M
$29.1M
Other assets
$39.4M
$45.0M
$45.2M
$42.4M
Total assets
$2.8B
$2.4B
$2.7B
$2.6B
Accounts payable
$28.8M
$26.0M
$29.9M
$28.8M
Accrued expenses
$393.0M
$374.9M
$353.6M
$331.2M
Short-term debt, net
$649.0M
—
—
—
Funds payable and amounts due to sellers
$205.0M
$189.6M
$265.4M
$234.0M
Deferred revenue
$27.0M
$19.2M
$14.6M
$14.0M
Other current liabilities
$60.7M
$49.3M
$41.2M
$19.1M
Total current liabilities
$1.4B
$665.1M
$710.8M
$631.8M
Finance lease obligations—net of current portion
$93.5M
$93.5M
$99.6M
$105.7M
Deferred tax liabilities
$8.8M
$8.0M
$13.2M
$44.7M
Long-term debt, net
$2.3B
$2.3B
$2.3B
$2.3B
Other liabilities
$126.2M
$122.0M
$121.7M
$120.4M
Total liabilities
$3.9B
$3.2B
$3.2B
$3.2B
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)
97.0K
109.0K
119.0K
125.0K
Preferred stock ($0.001 par value, 25,000 shares authorized as of December 31, 2025 and 2024)
0
0
0
0
Additional paid-in capital
$1.5B
$1.3B
$1.1B
$815.1M
Accumulated deficit
($2.4B)
($1.8B)
($1.4B)
($1.0B)
Accumulated other comprehensive loss
($226.4M)
($297.7M)
($267.5M)
($314.2M)
Total stockholders' deficit
($1.1B)
($758.9M)
($543.7M)
($547.3M)
Total liabilities and stockholders’ deficit
$2.8B
$2.4B
$2.7B
$2.6B
Etsy Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$901.3M
$1.2B
$1.2B
$1.2B
Short-term investments
$221.0M
$211.4M
$259.2M
$229.0M
Accounts receivable, net of expected credit losses of $4,506 and $5,611 as of June 30, 2026 and December 31, 2025, respectively
$8.7M
$8.7M
$7.4M
$6.5M
Prepaid and other current assets
$100.1M
$98.6M
$109.8M
$88.6M
Funds receivable and seller accounts
$193.8M
$185.9M
$168.2M
$140.6M
Current assets of discontinued operations
$450.4M
$393.8M
—
—
Total current assets
$1.9B
$2.1B
$1.8B
$1.6B
Restricted cash
$7.7M
$7.6M
$2.0M
—
Property and equipment, net of accumulated depreciation and amortization of $257,165 and $235,066 as of June 30, 2026 and December 31, 2025, respectively
$200.3M
$202.4M
$231.8M
$230.2M
Goodwill
$37.4M
$37.6M
$38.1M
$38.1M
Intangible assets, net of accumulated amortization of $33,919 and $32,479 as of June 30, 2026 and December 31, 2025, respectively
$12.0M
$13.2M
$304.1M
$317.0M
Deferred tax assets
$104.1M
$114.6M
$134.3M
$156.1M
Long-term investments
$160.7M
$150.6M
$108.3M
$126.6M
Other assets
$41.8M
$42.3M
$40.6M
$41.1M
Noncurrent assets of discontinued operations
$0
$0
—
—
Total assets
$2.4B
$2.7B
$2.7B
$2.6B
Accounts payable
$20.4M
$15.4M
$9.2M
$15.2M
Accrued expenses
$247.8M
$260.6M
$309.3M
$254.2M
Short-term debt, net
$649.6M
$649.3M
—
—
Funds payable and amounts due to sellers
$193.8M
$185.9M
$168.2M
$140.6M
Deferred revenue
$32.5M
$30.3M
$25.6M
$23.6M
Other current liabilities
$49.9M
$57.1M
$51.5M
$46.5M
Current liabilities of discontinued operations
$76.2M
$51.9M
—
—
Total current liabilities
$1.3B
$1.3B
$565.1M
$486.4M
Finance lease obligations—net of current portion
$90.3M
$91.9M
$93.9M
$90.3M
Deferred tax liabilities
$11.0M
$9.8M
$5.3M
$5.4M
Long-term debt, net
$2.3B
$2.3B
$3.0B
$3.0B
Other liabilities
$126.7M
$131.1M
$120.5M
$120.7M
Noncurrent liabilities of discontinued operations
$0
$0
—
—
Total liabilities
$3.8B
$3.8B
$3.8B
$3.7B
Common stock ($0.001 par value, 1,400,000 shares authorized as of June 30, 2026 and December 31, 2025; 92,370 and 97,031 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)
92.0K
95.0K
99.0K
100.0K
Preferred stock ($0.001 par value, 25,000 shares authorized as of June 30, 2026 and December 31, 2025)
0
0
0
0
Additional paid-in capital
$1.6B
$1.6B
$1.5B
$1.4B
Accumulated deficit
($2.8B)
($2.5B)
($2.4B)
($2.3B)
Accumulated other comprehensive loss
($242.2M)
($240.1M)
($226.2M)
($220.0M)
Total stockholders’ deficit
($1.4B)
($1.1B)
($1.1B)
($1.1B)
Total liabilities and stockholders’ deficit
$2.4B
$2.7B
$2.7B
$2.6B
Cash flow statement
Etsy Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$163.0M
$303.3M
$307.6M
($694.3M)
Stock-based compensation expense
$244.7M
$282.8M
$284.6M
$230.9M
Depreciation and amortization expense
$101.8M
$108.1M
$91.3M
$96.7M
Provision for expected credit losses
$9.0M
$11.9M
$19.6M
$12.5M
Deferred provision (benefit) for income taxes
$39.2M
($14.4M)
($50.1M)
($55.3M)
Asset impairment charges
$101.7M
$0
$68.1M
—
Other non-cash expense (income), net
$34.6M
($19.0M)
($1.9M)
$5.2M
Accounts receivable
($10.0M)
$3.6M
($16.1M)
($14.1M)
Funds receivable and seller accounts
($23.0M)
$69.1M
($29.3M)
($20.6M)
Prepaid expenses and other current assets
($33.8M)
$39.3M
($47.5M)
$23.8M
Other assets
$4.6M
($1.4M)
($2.4M)
$7.4M
Accounts payable
$2.5M
($3.5M)
$2.6M
$532.0K
Accrued and other current liabilities
$27.7M
$34.2M
$34.4M
$6.4M
Funds payable and amounts due to sellers
$23.0M
($69.1M)
$29.3M
$20.6M
Deferred revenue
$7.0M
$4.9M
$457.0K
$1.9M
Other liabilities
$1.5M
$2.5M
$4.8M
$14.4M
Net cash provided by operating activities
$693.4M
$752.5M
$705.5M
$683.6M
Purchases of property and equipment
($15.4M)
($14.2M)
($12.9M)
($10.2M)
Website and app development
($39.3M)
($29.3M)
($27.0M)
($20.5M)
Purchases of investments
($326.6M)
($330.8M)
($342.9M)
—
Sales and maturities of investments
$312.8M
$321.2M
$309.5M
—
Proceeds from sale of business, net of cash
$100.5M
—
—
—
Net cash provided by (used in) investing activities
$32.1M
($53.1M)
($73.3M)
($30.0M)
Payment of tax obligations on vested equity awards
($75.2M)
($61.6M)
($83.4M)
($79.2M)
Repurchase of stock
($776.9M)
($723.9M)
($577.0M)
($425.7M)
Proceeds from exercise of stock options
$17.7M
$3.9M
$14.2M
$15.0M
Proceeds from issuance of convertible senior notes
$700.0M
—
$0
$0
Payment of debt issuance costs
($11.3M)
—
($2.2M)
($25.0K)
Payments on finance lease obligations
($6.2M)
($6.1M)
($6.3M)
($6.3M)
Other financing, net
($17.9M)
$503.0K
($1.8M)
($10.2M)
Net cash used in financing activities
($169.9M)
($787.2M)
($656.5M)
($506.5M)
Effect of exchange rate changes on cash
$37.6M
($15.3M)
$12.0M
($6.0M)
Net increase (decrease) in cash, cash equivalents, and restricted cash
$593.2M
($103.1M)
($12.3M)
$141.1M
Cash and cash equivalents at beginning of period
$811.2M
$914.3M
$926.6M
$785.5M
Cash, cash equivalents, and restricted cash at end of period
$1.4B
$811.2M
$914.3M
$926.6M
Cash paid for interest
$12.2M
$9.1M
$9.3M
$9.5M
Stock-based compensation capitalized in website and app development
$22.2M
—
—
—
Excise tax payable
$6.1M
$6.0M
$5.5M
—
Lease assets obtained in exchange for new lease liabilities
$0
$5.5M
$7.8M
$1.7M
Deferred consideration
$0
$1.4M
$4.6M
$17.2M
Etsy Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net (loss) income
$23.0M
$69.7M
$52.2M
($23.3M)
Net loss from discontinued operations
($196.0M)
($35.0M)
—
—
Net income from continuing operations
$219.0M
$104.7M
—
—
Stock-based compensation expense
$104.1M
$53.0M
$181.4M
$120.6M
Depreciation and amortization expense
$30.5M
$15.3M
$77.0M
$52.7M
Provision for expected credit losses
$2.6M
$1.1M
$7.1M
$4.9M
Deferred provision (benefit) for income taxes
$18.4M
$6.7M
$21.3M
($1.0M)
Asset impairment charge
$0
$0
$101.7M
$101.7M
Other non-cash (income) expense, net
($8.6M)
($2.3M)
$36.2M
$34.3M
Current assets
$13.7M
$34.7M
($11.1M)
$40.0M
Non-current assets
($3.2M)
($3.6M)
$3.5M
$3.1M
Current liabilities
($110.5M)
($113.7M)
($90.1M)
($175.1M)
Non-current liabilities
$2.2M
$6.6M
($2.8M)
($584.0K)
Net cash provided by operating activities of continuing operations
$268.4M
$102.5M
—
—
Net cash used in operating activities of discontinued operations
($147.1M)
($21.8M)
—
—
Net cash provided by operating activities
$121.3M
$80.7M
$376.3M
$157.3M
Purchases of property and equipment
($2.7M)
($1.5M)
($14.1M)
($10.1M)
Website and app development
($14.9M)
($8.4M)
($31.3M)
($21.5M)
Purchases of investments
($179.1M)
($84.5M)
($251.1M)
($197.6M)
Sales and maturities of investments
$156.3M
$81.0M
$227.6M
$184.2M
Proceeds from sale of business, net of cash sold
$0
—
$100.5M
$100.5M
Net cash (used in) provided by investing activities of continuing operations
($40.5M)
($13.3M)
—
—
Net cash used in investing activities of discontinued operations
($6.5M)
($3.2M)
—
—
Net cash (used in) provided by investing activities
($47.0M)
($16.5M)
$31.5M
$55.5M
Payment of tax obligations on vested equity awards
($40.7M)
($14.0M)
($42.5M)
($29.0M)
Repurchase of stock
($394.9M)
($145.2M)
($643.7M)
($523.9M)
Proceeds from exercise of stock options
$10.2M
$2.2M
$15.3M
$5.7M
Proceeds from issuance of convertible senior notes
$0
—
$700.0M
$700.0M
Payment of debt issuance costs
$0
—
($11.3M)
($10.5M)
Payments on finance lease obligations
($3.2M)
($1.6M)
($4.6M)
($3.0M)
Other financing, net
($753.0K)
$100.0K
($17.8M)
($17.2M)
Net cash (used in) provided by financing activities
($429.3M)
($158.4M)
($4.6M)
$122.1M
Effect of exchange rate changes on cash
($10.1M)
($6.6M)
$36.5M
$37.2M
Net (decrease) increase in cash and cash equivalents
($365.1M)
($100.9M)
$439.7M
$372.2M
Cash, cash equivalents, and restricted cash at beginning of period
$1.4B
$1.4B
—
—
Cash, cash equivalents, and restricted cash at end of period
$1.0B
$1.3B
$1.3B
—
Cash paid for income taxes, net of refunds
$22.8M
—
$47.5M
$41.9M
Stock-based compensation capitalized in website and app development
$7.1M
$3.8M
$20.6M
$15.2M
Lease assets obtained in exchange for new lease liabilities