Etsy (ETSY) Operating Expenses (2014 - 2026)
Etsy's (ETSY) quarterly Operating Expenses came in at $335.8 million in Q1 2026, down 25.1% YoY from $448.3 million in Q1 2025, and down 34.77% on a QoQ basis from $514.7 million in Q4 2025.
Etsy (ETSY) Operating Expenses (2014 - 2026) Analysis & Trends
Etsy (ETSY) has 13 years of Operating Expenses data on file, last reported at $335.8 million in Q1 2026.
- Quarterly Operating Expenses fell 25.1% year-over-year to $335.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.7 billion (down 3.35% YoY) and the FY2025 annual result came in at $1.8 billion, up 8.82% from the prior year.
- Operating Expenses fell to $335.8 million in Q1 2026, from $514.7 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.4 billion in Q3 2022 to a low of $322.0 million in Q1 2022.
- A 5-year average of $463.3 million and a median of $400.7 million in 2025 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 366.01% — and 2023, when it tumbled 73.89%.
- Tracing ETSY's Operating Expenses over 5 years: stood at $442.1 million in 2022, then rose by 6.56% to $471.1 million in 2023, then rose by 1.75% to $479.3 million in 2024, then rose by 7.38% to $514.7 million in 2025, then sank by 34.77% to $335.8 million in 2026.
- The last three Operating Expenses figures came in at $335.8 million (Q1 2026), $514.7 million (Q4 2025), and $400.7 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,931.64 Bn | 2,808.66 Bn | 198.88 Bn | 330.81 Bn |
| 2 | PDD Holdings | 506.17 Bn | 446.63 Bn | 9.83 Bn | -5.87 Bn |
| 3 | Mercadolibre | 98.29 Bn | 83.09 Bn | 4.16 Bn | 3.48 Bn |
| 4 | DoorDash | 92.11 Bn | 86.76 Bn | 2.35 Bn | 4.30 Bn |
| 5 | JD.com | 87.50 Bn | 58.32 Bn | 7.66 Bn | -1.51 Bn |
| 6 | Sea | 78.22 Bn | 69.70 Bn | 3.15 Bn | -2.55 Bn |
| 7 | Ebay | 47.18 Bn | 43.87 Bn | 2.30 Bn | 1.63 Bn |
| 8 | Coupang | 29.74 Bn | 23.63 Bn | 2.49 Bn | 9.41 Bn |
| 9 | Zkh | 16.36 Bn | 16.36 Bn | 51.11 Mn | -23.28 Mn |
| 10 | Etsy | 7.51 Bn | 6.39 Bn | 484.05 Mn | 358.78 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 358.78 Mn |
| Mar 31, 2026 | 335.75 Mn |
| Dec 31, 2025 | 514.69 Mn |
| Sep 30, 2025 | 400.67 Mn |
| Jun 30, 2025 | 402.69 Mn |
| Mar 31, 2025 | 448.28 Mn |
| Dec 31, 2024 | 479.34 Mn |
| Sep 30, 2024 | 389.95 Mn |
| Jun 30, 2024 | 393.55 Mn |
| Mar 31, 2024 | 390.73 Mn |
| Dec 31, 2023 | 471.11 Mn |
| Sep 30, 2023 | 358.92 Mn |
| Jun 30, 2023 | 442.61 Mn |
| Mar 31, 2023 | 367.23 Mn |
| Dec 31, 2022 | 442.12 Mn |
| Sep 30, 2022 | 1.37 Bn |
| Jun 30, 2022 | 341.15 Mn |
| Mar 31, 2022 | 321.96 Mn |
| Dec 31, 2021 | 365.92 Mn |
| Sep 30, 2021 | 295.03 Mn |