Etsy Q1 revenue rises 0.8% to $651.2 million; net loss on $101.7 million impairment
Etsy reported first-quarter 2025 revenue of $651.2 million, up 0.8%, while gross merchandise sales fell 6.5% to $2.8 billion. The company posted a net loss of $52.1 million, driven by a $101.7 million goodwill impairment tied to Reverb, compared with net income of $63.0 million a year earlier. Etsy also guided to a second-quarter GMS decline similar to or slightly better than Q1, and it said it signed an agreement on April 22, 2025 to sell Reverb.
Key points
- Revenue was $651.2 million, up 0.8% year over year; GMS was $2.8 billion, down 6.5%
- Net loss was $52.1 million, or $(0.49) per diluted share, versus net income of $63.0 million, or $0.48 per diluted share, a year earlier
- Second-quarter guidance: GMS decline similar to, or slightly better than, Q1; adjusted EBITDA margin of about 25%
- Etsy signed a definitive agreement on April 22, 2025 to sell Reverb; the guidance excludes the sale
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 30, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.