Etsy, Inc.

Filing receipts

“Other Income (Expense), net Three Months Ended March 31, Change (in thousands, except percentages) 2026 2025 $ % Other income (expense), net $ 9,414 $ (10,714) $ 20,128 (187.9) % Percentage of total revenue 1.5 % (1.8) % Other income, net increased from other expense, net, primarily driven by changes in exchange rates that impact our non-functional currency cash and intercompany balances, which resulted in a gain for the three months ended March 31, 2026 as compared to a loss for the three months ended March 31, 2025.”

“General and administrative Three Months Ended March 31, Change (in thousands, except percentages) 2026 2025 $ % General and administrative $ 62,461 $ 73,906 $ (11,445) (15.5) % Percentage of total revenue 9.9 % 12.1 % General and administrative expenses decreased, primarily due to the reversal of previously recognized Canadian digital services tax (“DST”) expense in the first quarter of 2026, following the repeal of the DST in Canada in March 2026.”

“Costs and Operating Expenses Cost of Revenue Three Months Ended March 31, Change (in thousands, except percentages) 2026 2025 $ % Cost of revenue $ 175,679 $ 167,801 $ 7,878 4.7 % Percentage of total revenue 27.8 % 27.4 % The increase in cost of revenue was primarily driven by an increase in cost of refunds, payments fees, and cloud-related hosting and bandwidth costs, partially offset by the sale of Reverb on June 2, 2025.”