Etsy Q3 GMS +8.8%, Revenue +10.9%; CFO Lanny Baker to Depart March 2027
ETSY has more than doubled off its 52-week low of $44.
Summary
Etsy posted accelerating Q3 growth (GMS +8.8%, revenue +10.9%, 30.4% adjusted EBITDA margin) and simultaneously announced CFO Lanny Baker will depart effective March 1, 2027.
Key Events · Earnings and Guidance · ETSY
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Q3 Growth Accelerates
GMS rose 8.8% Y/Y to $2.65B and revenue 10.9% to $692.5M; take rate was 26.2%, up 50 bps.
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CFO to Depart in 2027
Lanny Baker leaves effective March 1, 2027, advising through July 1, 2027; a recruiting firm has been retained for the successor search.
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Buybacks and Debt Paydown
Etsy repurchased ~$394.6M of stock (~5.2M shares) in Q3 with $2.2B authorization remaining, and paid $648.6M on October 1, 2026 to settle the remaining 2019 Notes.
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Q4 and FY26 Outlook
Q4 GMS guided to $3.46B-$3.52B (+5-7% Y/Y) with ~30% adjusted EBITDA margin; FY26 GMS growth ~7%.
Analysis · ETSY · Trade & Services
Growth accelerated in Q3, with GMS up 8.8% to $2.65B and revenue up 10.9% to $692.5M, while adjusted EBITDA margin held above 30% and active buyers grew year-over-year for the first time in two years. Against that backdrop, the surprise is the CFO exit: Lanny Baker leaves March 1, 2027, with an advisory period through July 1, 2027 and a recruiting search underway. The company also bought back ~$394.6M of stock in the quarter and still has $2.2B authorized, while paying off $648.6M of 2019 Notes on October 1. The operating momentum is real, but a CFO transition during a turnaround introduces execution and disclosure continuity risk.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 36.5% of the 953 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ETSY was trading at $90.82 on NYSE in the Trade & Services sector, with a market capitalization of approximately $8B. The 52-week trading range was $44.00 to $91.12. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.