Etsy, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.88B | $2.81B | $2.75B | $2.57B | $2.33B | $1.73B | $818.4M | $603.7M |
| Cost of Revenue | $817.8M | $774.6M | $828.7M | $744.6M | $654.5M | $464.7M | $271.0M | $190.8M |
| Gross Profit | $2.07B | $2.03B | $1.92B | $1.82B | $1.67B | $1.26B | $547.3M | $412.9M |
| Gross Margin | 71.6% | 72.4% | 69.8% | 71.0% | 71.9% | 73.1% | 66.9% | 68.4% |
| Operating Expenses | ||||||||
| Research & Development | $450.2M | $443.1M | $469.3M | $412.4M | $271.5M | $180.1M | $121.9M | $97.2M |
| SG&A Expense | $332.8M | $353.9M | $343.2M | $312.3M | $282.5M | $156.0M | $121.1M | $82.9M |
| Operating Income | $266.2M | $380.2M | $279.8M | $-658.6M | $465.7M | $424.0M | $88.8M | $74.8M |
| Operating Margin | 9.2% | 13.5% | 10.2% | -25.7% | 20.0% | 24.6% | 10.8% | 12.4% |
| Interest Expense | — | — | $14.0M | $14.2M | $9.9M | $42.0M | $24.3M | $22.2M |
| Pretax Income | $246.7M | $410.8M | $292.8M | $-662.0M | $471.7M | $365.7M | $80.6M | $55.1M |
| Income Tax Expense | $83.7M | $107.5M | $-14.7M | $32.3M | $-21.9M | $16.5M | $-15.2M | $-22.4M |
| Net Income | $163.0M | $303.3M | $307.6M | $-694.3M | $493.5M | $349.2M | $95.9M | $77.5M |
| Net Margin | 5.7% | 10.8% | 11.2% | -27.1% | 21.2% | 20.2% | 11.7% | 12.8% |
| EPS (Basic) | $1.59 | $2.64 | $2.51 | $-5.48 | $3.88 | $2.88 | $0.80 | $0.64 |
| EPS (Diluted) | $1.39 | $2.35 | $2.24 | $-5.48 | $3.40 | $2.69 | $0.76 | $0.61 |
| Shares Outstanding (Basic) | 102.4M | 114.9M | 122.5M | 126.8M | 127.2M | 121.3M | 119.7M | 120.1M |
| Shares Outstanding (Diluted) | 124.1M | 131.7M | 140.1M | 126.8M | 146.7M | 136.4M | 125.7M | 127.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |