ETSY Q1 2026 Earnings — Income Statement Breakdown
For its Q1 2026 period (ending 2026-03-31), ETSY reported revenue of $631M, gross profit of $456M (72.2% gross margin), operating income of $120M, and net income of $105M (16.6% net margin). The flow of revenue into costs and profit is visualized below.
What changed
ETSY was profitable; revenue fell 6.9% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | −6.9% | +38.6% | +5.4 pp |
Consensus estimate data is not available for this report.
ETSY Q1 2026 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $631M | 100% |
| Cost of Revenue | −$176M | 27.8% |
| Gross Profit | $456M | 72.2% |
| Research & Development | −$99M | 15.7% |
| Selling, General & Administrative | −$237M | 37.5% |
| Operating Income | $120M | 19.0% |
| Other Income, net | $9M | 1.5% |
| Income Tax Expense | −$25M | 3.9% |
| Net Income | $105M | 16.6% |
Source: ETSY filings on SEC EDGAR (period ended 2026-03-31). Data normalized by EarningsFyi.