ETSY Etsy (ETSY) Q1 FY26 earnings call
Etsy delivered a strong Q1 FY26, with solid GMS growth and improved profitability, driven by strategic investments in app personalization and AI-powered discovery. The company is seeing early positive shifts in customer behavior, including sequential active buyer growth and increased GMS per active buyer, though frequency and habitual buyer metrics remain a focus for long-term improvement. Management is confident in its strategy to rebuild the marketplace and drive durable growth.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
ETSY operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Active buyers | 86.6MQ1 '26 trailing 12-month active buyer count was $86.6 million, representing the first quarter of sequential growth in the past 2 years.Source: earnings call transcript | ~87MActive buyers improved, growing by 350,000 sequentially to approximately 87 million, roughly stable on a year-over-year basis.Source: earnings call transcript | — |
| GMS per active buyer | $122Encouragingly, GMS per active buyer improved sequentially for the fourth consecutive quarter and grew year-over-year for the first time since 2022, reaching $122 on a trailing 12-month basis.Source: earnings call transcript | $124Trailing 12-month GMS per active buyer grew 2.8% year-over-year to $124.Source: earnings call transcript | +1.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.