Etsy (ETSY) Research & Development (2014 - 2026)
Etsy's (ETSY) quarterly Research & Development came in at $190.9 million in Q2 2026, little changed on a YoY basis from $191.1 million in Q2 2025, and up 9.58% quarter-over-quarter from $174.2 million in Q1 2026.
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Analysis
Etsy (ETSY) Research & Development (2014 - 2026) Analysis & Trends
Etsy (ETSY) has reported Research & Development for 13 consecutive years, with $190.9 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Research & Development changed 0.07% year-over-year to $190.9 million; the trailing twelve-month figure through Jun 2026 stood at $878.9 million (up 4.06% YoY), and the FY2025 full-year result was $914.8 million, up 6.8% from the prior year.
- Research & Development grew to $190.9 million in Q2 2026 per ETSY's latest filing, from $174.2 million in the prior quarter.
- Across five years, Research & Development topped out at $305.9 million in Q4 2025 and bottomed at $147.2 million in Q3 2022.
- Historically, Research & Development has averaged $198.2 million across 5 years, with a median of $187.0 million in 2024.
- The sharpest annual moves came in 2024 and 2025: Research & Development grew 22.11% in 2024, then declined 10.4% in 2025.
- Over 5 years, Research & Development stood at $244.8 million in 2022, then advanced by 6.64% to $261.1 million in 2023, then gained by 9.23% to $285.2 million in 2024, then climbed by 7.26% to $305.9 million in 2025, then slumped by 37.58% to $190.9 million in 2026.
- According to Business Quant data, Research & Development over the past three periods registered $190.9 million, $174.2 million, and $305.9 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alibaba Group Holding | 263.05 Bn | 227.79 Bn | 15.11 Bn | -7.02 Bn |
| 2 | Booking Holdings | 126.16 Bn | 108.94 Bn | 4.98 Bn | 263.00 Mn |
| 3 | PDD Holdings | 112.31 Bn | 82.02 Bn | 9.45 Bn | -673.00 Mn |
| 4 | Airbnb | 98.07 Bn | 86.00 Bn | 2.98 Bn | 875.00 Mn |
| 5 | Mercadolibre | 90.61 Bn | 75.42 Bn | 4.16 Bn | 1.13 Bn |
| 6 | Ebay | 49.77 Bn | 46.46 Bn | 2.30 Bn | 697.00 Mn |
| 7 | Expedia | 31.98 Bn | 24.85 Bn | 3.91 Bn | 2.12 Bn |
| 8 | Maplebear | 10.57 Bn | 9.72 Bn | 751.00 Mn | 233.00 Mn |
| 9 | Full Truck Alliance | 7.59 Bn | 6.63 Bn | - | -38.45 Mn |
| 10 | Etsy | 6.70 Bn | 5.58 Bn | 484.05 Mn | 190.93 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 190.93 Mn |
| Mar 31, 2026 | 174.24 Mn |
| Dec 31, 2025 | 305.88 Mn |
| Sep 30, 2025 | 207.84 Mn |
| Jun 30, 2025 | 191.05 Mn |
| Mar 31, 2025 | 171.86 Mn |
| Dec 31, 2024 | 285.17 Mn |
| Sep 30, 2024 | 196.53 Mn |
| Jun 30, 2024 | 183.06 Mn |
| Mar 31, 2024 | 191.81 Mn |
| Dec 31, 2023 | 261.08 Mn |
| Sep 30, 2023 | 160.94 Mn |
| Jun 30, 2023 | 165.87 Mn |
| Mar 31, 2023 | 171.31 Mn |
| Dec 31, 2022 | 244.81 Mn |
| Sep 30, 2022 | 147.24 Mn |
| Jun 30, 2022 | 164.07 Mn |
| Mar 31, 2022 | 154.28 Mn |
| Dec 31, 2021 | 204.20 Mn |
| Sep 30, 2021 | 131.93 Mn |
API Access
Etsy Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=ETSY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "ETSY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=ETSY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();