Etsy

Etsy (NYSE: ETSY) runs a marketplace for unique, handmade, vintage and custom goods where it never holds inventory: it charges sellers a $0.20 listing fee, a 6.5% transaction fee and a payments processing fee on each sale, and sells optional on-site ads and shipping labels. FY2025 (year ended Dec 31, 2025) revenue was $2.88B (+3%) on $11.92B of gross merchandise sales (GMS, the dollar value of items sold, excluding shipping and net of refunds), a revenue take rate of 24.2%, with operating income of $266.2M and net income of $163.0M after a $101.7M Reverb goodwill impairment. Marketplace fees were $2.01B (70%) and services, mostly on-site ads, $876.3M (30%, +11%). The Etsy marketplace itself had 86.5 million active buyers, 5.6 million active sellers and $10.46B of GMS (down 4%). Etsy sold Reverb on Jun 2, 2025 and sold Depop to eBay on Jul 30, 2026 for about $1.4B in cash. On the new continuing-operations basis (without Depop), H1 2026 revenue was $1.30B (+4.7%) with net income of $219.0M.

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