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Etsy ETSY Offsite Advertising — Direct checkout fees, percent

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Other financials

Income statement

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Revenue$668.3M+6.2%
Gross profit$484.0M+5.1%
Operating income$125.3M+33.1%
Net income-$46.7M-262%
EPS (diluted)-$0.36-244%

Balance sheet

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Cash & equivalents$901.3M-23.8%
Total debt$3.7B+21.1%
Total equity-$1.4B-24.1%
Total assets$2.4B-4.6%

Cash flow

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Operating cash flow$40.6M-62.5%
CapEx$1.2M-82.0%
Free cash flow$39.3M-61.2%

Valuation

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Market cap$8.15B+46.3%
Enterprise value$10.97B+47.0%
P/E38.9×+5.0×
P/S2.9×+0.8×

Profitability

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Gross margin72.3%-0.9pp
Operating margin16%+3.9pp
Net margin7.3%+1.4pp
FCF margin22.7%-1.6pp

Returns & leverage

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Return on equity73.9%
Debt / equity4.1×
Current ratio1.5×-1.9×

Where this comes from

Reported directly by Etsy in its filing.

Tagged under the XBRL concept etsy:RevenueEtsyPaymentFeesPercent.

The source filing: Etsy’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 8:17 AM EST
Fiscal year
FY2025
Accession
0001370637-26-000019

Variable fees include transaction fees and payments processing fees. Etsy marketplace sellers pay a 6.5% transaction fee for each completed transaction, inclusive of shipping fees charged. The Etsy marketplace charges sellers for Offsite Ads, whereby sellers pay a transaction fee of 12% or 15% of the value of a sale based on the seller’s volume of sales, if such sale is generated from an advertisement placed by Etsy on third-party internet platforms. The corresponding expense is recorded in marketing. Etsy marketplace sellers pay Etsy Payments processing fees, which typically vary between 3.0% and 6.5% of an item’s total sale price, including shipping, plus a flat fee per order that depends on the country in which a seller’s bank account is located, plus an additional transaction fee for foreign currency payments. The transaction fee, Offsite Ads transaction fee, and Etsy Payments processing fees are recognized when the corresponding transaction is consummated, and are recorded net of refunds.

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Etsy's offsite advertising — direct checkout fees, percent?
Etsy (ETSY) reported offsite advertising — direct checkout fees, percent of 3.8% in Q4 2025.
How has Etsy's offsite advertising — direct checkout fees, percent changed year-over-year?
Etsy's offsite advertising — direct checkout fees, percent decreased by 0.0% year-over-year, from 3.8% to 3.8%.
What is the long-term trend for Etsy's offsite advertising — direct checkout fees, percent?
Over 4 years (2021 to 2025), Etsy's offsite advertising — direct checkout fees, percent has grown at a 0.0% compound annual growth rate (CAGR), from 15% to 15%.
What does offsite advertising — direct checkout fees, percent mean?
This metric represents the percentage-based fee charged to sellers for transactions facilitated through offsite advertising channels. It reflects the monetization rate applied to gross merchandise volume generated by external marketing efforts. Investors use this to evaluate the platform's ability to capture value from its advertising ecosystem and the sustainability of its seller-facing commission structure.

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