Etsy, Inc. (ETSY) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.481 Hi, everyone, and welcome to Etsy's fourth quarter and full year 2025 earnings conference 00:00:04.481 -- 00:00:07.569 call. I'm Deb Wasser, VP of Investor Relations. 00:00:07.569 -- 00:00:09.934 Today's prepared remarks have been prerecorded. 00:00:09.934 -- 00:00:14.926 It's my pleasure to introduce Kruthi Patel-Goyal for her first call as CEO, and of course, 00:00:14.926 -- 00:00:17.412 to have our CFO, Lani Baker, here as well. 00:00:17.412 -- 00:00:20.916 Once we are finished with the presentation, Kruthi and Lani will take questions from 00:00:20.916 -- 00:00:23.359 our publishing sell-side analysts on video. 00:00:23.359 -- 00:00:27.364 Please keep in mind that our remarks today include forward-looking statements related 00:00:27.364 -- 00:00:31.869 to our financial guidance, our business, and our operating results, as noted in the slide 00:00:31.869 -- 00:00:34.593 deck posted to our website for your reference. 00:00:34.593 -- 00:00:38.798 Our actual results may differ materially. Forward-looking statements involve risks and 00:00:38.798 -- 00:00:43.003 uncertainties, some of which are described in today's earnings release and our most recent 00:00:43.003 -- 00:00:47.468 Form 10Q, and which will be updated in future periodic reports that we file with the 00:00:47.468 -- 00:00:51.594 SEC. Any forward-looking statements that we make on this call are based on our beliefs 00:00:51.594 -- 00:00:55.679 and assumptions today, and we disclaim any obligation to update them. 00:00:55.679 -- 00:00:59.604 Also during the call, we'll present both GAAP and non-GAAP financial measures, which 00:00:59.604 -- 00:01:03.909 are reconciled to GAAP financial measures in today's earnings press release or slide 00:01:03.909 -- 00:01:07.594 deck p...