ETSY Q3 2025 Earnings — Income Statement Breakdown
For its Q3 2025 period (ending 2025-09-30), ETSY reported revenue of $678M, gross profit of $483M (71.3% gross margin), operating income of $83M, and net income of $76M (11.1% net margin). The flow of revenue into costs and profit is visualized below.
What changed
ETSY was profitable; revenue grew 2.4% year over year, and EPS beat consensus by $0.11.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +2.4% | +31.6% | Not available |
| Quarter over quarter | +0.8% | +161.8% | Not available |
EPS was $0.63 versus $0.52 expected.
ETSY Q3 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $678M | 100% |
| Cost of Revenue | −$195M | 28.7% |
| Gross Profit | $483M | 71.3% |
| Research & Development | −$113M | 16.7% |
| Selling, General & Administrative | −$287M | 42.4% |
| Operating Income | $83M | 12.2% |
| Other Income, net | $9M | 1.4% |
| Income Tax Expense | −$17M | 2.4% |
| Net Income | $76M | 11.1% |
Source: original SEC filing (filed 2025-10-29). Accession 0001370637-25-000098. Data normalized by EarningsFyi.