ETSY Q2 2026 Earnings

Call Details

• Call Title: Etsy Q2 2026 Earnings Call
• Date: August 6, 2026 at 12:30 PM UTC
• Management Team:
  • Deb Wasser (VP of Investor Relations)
  • Kruti Patel Goyal (President and Chief Growth Officer)
  • Lanny Baker (Chief Financial Officer)

Call Summary

Financial Performance

• Etsy Marketplace GMS was $2.6B, up 7.5% year-over-year for the Etsy marketplace.
• Revenue was $668M, up 6.2% on a continuing operations basis and up 9.3% for the Etsy Marketplace standalone.
• Adjusted EBITDA was $195M and adjusted EBITDA margin was 29.2% in Q2.
• Trailing 12-month GMS per active buyer grew 2.8% year-over-year to $124.
• Active buyers totaled approximately 87M, increasing by 350,000 sequentially and roughly stable year-over-year.
• On a continuing operations basis, the company converted 81% of adjusted EBITDA to free cash flow during the quarter.

Guidance

• Third quarter Etsy Marketplace GMS is expected between $2.53B and $2.58B, representing approximately 4% to 6% year-over-year growth.
• Third quarter take rate is expected to be approximately 26% and adjusted EBITDA margin is expected to be in a 28% to 30% range.
• Full-year 2026 GMS growth at Etsy is expected to be in the mid single-digit range.
• Full-year take rate is expected to be roughly equal to the level reported in the first half of the year.
• Full-year adjusted EBITDA margin outlook tightened upward to a range of 29% to 30%.
• Restructuring benefits have been incorporated into the increased full-year adjusted EBITDA margin outlook.