ETSY Etsy (ETSY) Q2 FY26 earnings call
Etsy delivered strong Q2 FY26 results, with accelerating GMS and revenue growth driven by strategic focus on discovery, personalization, and buyer loyalty. The company authorized a new $2 billion share repurchase program, reflecting confidence in its execution and capital allocation strategy, while also announcing a workforce restructuring to optimize for future growth and efficiency.
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ETSY operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call 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.