Etsy (ETSY) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-36911
Entity Registrant Name	ETSY, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4898921
Entity Address, Address Line One	117 Adams Street
Entity Address, City or Town	Brooklyn,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11201
City Area Code	718
Local Phone Number	880-3660
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	ETSY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		119,746,254
Entity Central Index Key	0001370637
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 741,958	$ 921,278
Short-term investments	234,930	250,413
Accounts receivable, net of expected credit losses of $10,147 and $8,303 as of September 30, 2023 and December 31, 2022, respectively	19,410	27,888
Prepaid and other current assets	125,605	80,203
Funds receivable and seller accounts	221,958	233,961
Total current assets	1,343,861	1,513,743
Restricted cash	0	5,341
Property and equipment, net of accumulated depreciation and amortization of $230,000 and $204,189 as of September 30, 2023 and December 31, 2022, respectively	245,806	249,744
Goodwill	137,461	137,724
Intangible assets, net of accumulated amortization of $113,638 and $92,179 as of September 30, 2023 and December 31, 2022, respectively	452,881	535,406
Deferred tax assets	146,380	121,506
Long-term investments	76,600	29,137
Other assets	46,208	42,360
Total assets	2,449,197	2,634,961
Current liabilities:
Accounts payable	14,150	28,757
Accrued expenses	271,973	331,234
Finance lease obligations—current	5,221	4,731
Funds payable and amounts due to sellers	221,958	233,961
Deferred revenue	14,984	14,008
Other current liabilities	20,531	19,064
Total current liabilities	548,817	631,755
Finance lease obligations—net of current portion	101,114	105,699
Deferred tax liabilities	25,496	44,735
Long-term debt, net	2,282,751	2,279,640
Other liabilities	113,547	120,406
Total liabilities	3,071,725	3,182,235
Commitments and contingencies (Note 10)
Stockholders’ deficit:
Common stock ($0.001 par value, 1,400,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 119,662,608 and 125,054,278 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively)	120	125
Preferred stock ($0.001 par value, 25,000,000 shares authorized as of September 30, 2023 and December 31, 2022)	0	0
Additional paid-in capital	1,028,335	815,085
Accumulated deficit	(1,347,230)	(1,048,267)
Accumulated other comprehensive loss	(303,753)	(314,217)
Total stockholders' deficit	(622,528)	(547,274)
Total liabilities and stockholders' deficit	$ 2,449,197	$ 2,634,961

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, expected credit losses	$ 10,147	$ 8,303
Property and equipment, accumulated depreciation and amortization	230,000	204,189
Finite-lived intangible assets, accumulated amortization	$ 113,638	$ 92,179
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,400,000,000	1,400,000,000
Common stock, shares issued (in shares)	119,662,608	125,054,278
Common stock, shares outstanding (in shares)	119,662,608	125,054,278
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 636,302	$ 594,469	$ 1,906,055	$ 1,758,870
Cost of revenue	188,827	174,401	572,918	518,817
Gross profit	447,475	420,068	1,333,137	1,240,053
Operating expenses:
Marketing	160,936	147,242	498,120	465,590
Product development	113,932	108,040	351,844	299,611
General and administrative	84,051	74,544	250,699	227,734
Asset impairment charges	0	1,045,022	68,091	1,045,022
Total operating expenses	358,919	1,374,848	1,168,754	2,037,957
Income (loss) from operations	88,556	(954,780)	164,383	(797,904)
Other income, net	8,411	5,763	19,269	8,036
Income (loss) before income taxes	96,967	(949,017)	183,652	(789,868)
(Provision) benefit for income taxes	(9,117)	(14,051)	40,650	(13,968)
Net income (loss)	$ 87,850	$ (963,068)	$ 224,302	$ (803,836)
Net income (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ 0.72	$ (7.62)	$ 1.82	$ (6.33)
Diluted (in dollars per share)	$ 0.64	$ (7.62)	$ 1.62	$ (6.33)
Weighted-average common shares outstanding:
Basic (in shares)	121,807,908	126,349,250	123,341,417	126,985,731
Diluted (in shares)	138,890,567	126,349,250	141,046,041	126,985,731

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 87,850	$ (963,068)	$ 224,302	$ (803,836)
Other comprehensive (loss) income:
Cumulative translation adjustment	(17,516)	(135,493)	9,663	(295,792)
Unrealized gains (losses) on investments, net of tax expense (benefit) of $130, $(68), $260, and $(644), respectively	387	(239)	801	(2,052)
Total other comprehensive (loss) income	(17,129)	(135,732)	10,464	(297,844)
Comprehensive income (loss)	$ 70,721	$ (1,098,800)	$ 234,766	$ (1,101,680)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized gain (losses) on marketable securities, net of tax expense (benefit)	$ 130	$ (68)	$ 260	$ (644)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ (Deficit) Equity (Unaudited) - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021			127,022,118
Beginning balance at Dec. 31, 2021		$ 628,619	$ 127	$ 631,762	$ 71,744	$ (75,014)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)	[1]		191,493
Stock-based compensation	[1]	182,353		182,353
Exercise of vested options (in shares)			546,367
Exercise of vested options		8,212	$ 1	8,211
Settlement of convertible senior notes, net of taxes (in shares)			160
Settlement of convertible senior notes, net of taxes		0
Vesting of restricted stock units, net of shares withheld (in shares)			516,534
Vesting of restricted stock units, net of shares withheld		(48,438)	$ 1	(48,439)
Stock repurchase (in shares)			(2,614,895)
Stock repurchase		(275,308)	$ (3)		(275,305)
Other comprehensive income (loss)		(297,844)				(297,844)
Net income (loss)		(803,836)			(803,836)
Ending balance (in shares) at Sep. 30, 2022			125,661,777
Ending balance at Sep. 30, 2022		(606,242)	$ 126	773,887	(1,007,397)	(372,858)
Beginning balance (in shares) at Jun. 30, 2022			126,741,612
Beginning balance at Jun. 30, 2022		581,295	$ 127	712,053	106,241	(237,126)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)	[1]		163,483
Stock-based compensation	[1]	67,342		67,342
Exercise of vested options (in shares)			152,181
Exercise of vested options		2,754	$ 1	2,753
Settlement of convertible senior notes, net of taxes (in shares)			1
Settlement of convertible senior notes, net of taxes		0
Vesting of restricted stock units, net of shares withheld (in shares)			108,005
Vesting of restricted stock units, net of shares withheld		(8,261)		(8,261)
Stock repurchase (in shares)			(1,503,505)
Stock repurchase		(150,572)	$ (2)		(150,570)
Other comprehensive income (loss)		(135,732)				(135,732)
Net income (loss)		(963,068)			(963,068)
Ending balance (in shares) at Sep. 30, 2022			125,661,777
Ending balance at Sep. 30, 2022		$ (606,242)	$ 126	773,887	(1,007,397)	(372,858)
Beginning balance (in shares) at Dec. 31, 2022		125,054,278	125,054,278
Beginning balance at Dec. 31, 2022		$ (547,274)	$ 125	815,085	(1,048,267)	(314,217)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)	[2]		45,680
Stock-based compensation	[2]	228,148		228,148
Exercise of vested options (in shares)			482,482
Exercise of vested options		8,448		8,448
Settlement of capped call (in shares)			(1,194,006)
Settlement of capped call		0	$ (1)	34,224	(34,223)
Settlement of convertible senior notes, net of taxes (in shares)			278
Settlement of convertible senior notes, net of taxes		(1)		(1)
Vesting of restricted stock units, net of shares withheld (in shares)			805,747
Vesting of restricted stock units, net of shares withheld		$ (57,568)	$ 1	(57,569)
Stock repurchase (in shares)		(5,531,851)	(5,531,851)
Stock repurchase		$ (489,047)	$ (5)		(489,042)
Other comprehensive income (loss)		10,464				10,464
Net income (loss)		$ 224,302			224,302
Ending balance (in shares) at Sep. 30, 2023		119,662,608	119,662,608
Ending balance at Sep. 30, 2023		$ (622,528)	$ 120	1,028,335	(1,347,230)	(303,753)
Beginning balance (in shares) at Jun. 30, 2023			123,249,136
Beginning balance at Jun. 30, 2023		(464,175)	$ 123	957,738	(1,135,412)	(286,624)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)	[2]		27,309
Stock-based compensation	[2]	76,370		76,370
Exercise of vested options (in shares)			149,670
Exercise of vested options		2,693		2,693
Vesting of restricted stock units, net of shares withheld (in shares)			151,772
Vesting of restricted stock units, net of shares withheld		$ (8,466)		(8,466)
Stock repurchase (in shares)		(3,915,279)	(3,915,279)
Stock repurchase		$ (299,671)	$ (3)		(299,668)
Other comprehensive income (loss)		(17,129)				(17,129)
Net income (loss)		$ 87,850			87,850
Ending balance (in shares) at Sep. 30, 2023		119,662,608	119,662,608
Ending balance at Sep. 30, 2023		$ (622,528)	$ 120	$ 1,028,335	$ (1,347,230)	$ (303,753)
[1]Includes the partial payments of Depop deferred consideration. See “Note 12—Stock-Based Compensation” for additional information.[2]Includes the partial payments of Depop deferred consideration. See “Note 12—Stock-Based Compensation” for additional information.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income (loss)		$ 224,302	$ (803,836)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense		216,082	166,533
Depreciation and amortization expense		68,290	73,908
Provision for expected credit losses		14,390	7,621
Foreign exchange gain		(4,113)	(17,585)
Deferred benefit for income taxes		(45,255)	(25,955)
Loss on sale of business		2,630	0
Asset impairment charges		68,091	1,045,022
Other non-cash expense, net		327	6,519
Changes in operating assets and liabilities (net of impact of sale of business):
Current assets		(39,578)	11,418
Non-current assets		(3,964)	6,420
Current liabilities		(87,852)	(88,831)
Non-current liabilities		(2,942)	10,628
Net cash provided by operating activities		410,408	391,862
Cash flows from investing activities
Cash paid for intangible assets		(12)	(6,400)
Purchases of property and equipment		(7,740)	(8,351)
Development of internal-use software		(19,594)	(16,912)
Purchases of investments		(288,226)	(205,841)
Sales and maturities of investments		261,589	207,568
Net cash used in investing activities		(53,983)	(29,936)
Cash flows from financing activities
Payment of tax obligations on vested equity awards		(58,008)	(48,018)
Repurchase of stock		(483,987)	(275,308)
Proceeds from exercise of stock options		8,448	8,212
Payment of debt issuance costs		(2,215)	(25)
Settlement of convertible senior notes		(90)	(33)
Payments on finance lease obligations		(4,723)	(4,755)
Other financing, net		(259)	(2,483)
Net cash used in financing activities		(540,834)	(322,410)
Effect of exchange rate changes on cash		(252)	(29,722)
Net (decrease) increase in cash, cash equivalents, and restricted cash		(184,661)	9,794
Cash, cash equivalents, and restricted cash at beginning of period		926,619	785,537
Cash, cash equivalents, and restricted cash at end of period		741,958	795,331
Supplemental cash flow disclosures:
Cash paid for income taxes, net of refunds		29,598	25,071
Supplemental non-cash disclosures:
Stock-based compensation capitalized in development of capitalized software and asset additions in exchange for liabilities		16,479	7,806
Lease assets obtained in exchange for new lease liabilities		7,751	236
Excise tax payable		5,060	0
Deferred consideration	[1]	4,611	17,197
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents		741,958	789,990
Restricted cash		0	5,341
Total cash, cash equivalents, and restricted cash		$ 741,958	$ 795,331
[1]See “Note 12—Stock-Based Compensation” for additional information on the settlement of deferred consideration related to the Depop acquisition.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 1—Basis of Presentation and Summary of Significant Accounting Policies Description of Business Etsy operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces - which collectively create a “House of Brands” - share the Company’s mission, common levers for growth, similar business models, and a strong commitment to use business and technology to strengthen communities and empower people. The Company’s primary marketplace, Etsy.com, is the global destination for unique and creative goods made by independent sellers. The Company generates revenue primarily from marketplace activities, including transaction, listing, and payments processing fees, and fees for optional seller services, which include on-site advertising and shipping labels. Basis of Consolidation The condensed consolidated financial statements include the accounts of Etsy and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. On August 10, 2023, Etsy closed the previously announced sale of the parent holding company of Elo7 Serviços de Informática (“Elo7”), the Company’s Brazil-based marketplace for handmade and unique items, to Enjoei S.A., a corporation in Brazil. The financial results of Elo7 have been included in Etsy’s Consolidated Financial Statements until August 10, 2023. See “Note 6—Sale of Business ” for more information. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The Company has condensed or omitted certain information and notes normally included in complete annual financial statements prepared in accordance with GAAP. These unaudited interim condensed consolidated financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 23, 2023 (the “Annual Report”). In the opinion of management, all material adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for the periods presented have been reflected in the condensed consolidated financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations for the full annual period or any future period due to seasonal and other factors. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and judgments. The accounting estimates that require management’s most subjective judgments include: stock-based compensation; income taxes, including the estimate of the annual effective tax rate at interim periods and evaluation of uncertain tax positions; the valuation of acquired intangible assets, developed technology, and goodwill as part of purchase price allocations for business combinations; valuation of goodwill; and leases. As of September 30, 2023, there continues to be significant global macroeconomic and geopolitical uncertainty which may impact the Company’s business, results of operations, and financial condition. As a result, many of the Company’s estimates and judgments require increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods. Interim Impairment Evaluation During the quarter ended June 30, 2023, the Company evaluated whether events or circumstances had changed such that it would indicate it is more likely than not that its goodwill, finite-lived intangible assets, and other long-lived assets were impaired (a “triggering event”). Given the macroeconomic conditions at the time, challenges applying the Company’s technological, marketing, and operational expertise to help scale Elo7’s business, and the resultant headwinds to the business, the Company revised its business forecasts for Elo7 downwards. The Company concluded a triggering event had occurred for the Elo7 reporting unit, and conducted an impairment test of its finite-lived intangible assets and other long-lived assets as of June 30, 2023. The Company prepared an updated fair value for the Elo7 reporting unit based on a quantitative assessment, which included estimates of future revenue, and the net available cash flows; as well as a determination that the Company would more likely than not use the Elo7 asset group, including its intangible assets, for a period of less than twelve months. Based on this assessment, the Company concluded that the book value of the finite-lived intangible assets and other long-lived assets for the Elo7 reporting units were fully impaired. The Company recognized impairment charges of $68.1 million for the Elo7 reporting unit as a result of this quantitative assessment during the three months ended June 30, 2023. See “Note 5—Asset Impairment Charges” for further details.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Note 2—Revenue The following table summarizes revenue disaggregated by Marketplace revenue and optional Services revenue for the periods presented (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Marketplace revenue $ 460,922 $ 443,489 $ 1,381,395 $ 1,310,729 Services revenue 175,380 150,980 524,660 448,141 Revenue $ 636,302 $ 594,469 $ 1,906,055 $ 1,758,870 Contract balances Deferred revenues The amount of revenue recognized in the nine months ended September 30, 2023 that was included in the deferred balance at January 1, 2023 was $14.0 million.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 3—Income Taxes The Company’s provision or benefit from income taxes in interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company makes a cumulative adjustment. The estimate of the annual effective income tax rate for the full year is applied to the respective interim period, taking into account year-to-date amounts and projected results for the full year. The Company’s quarterly tax provision, and its quarterly estimate of the annual effective tax rate, is subject to significant variation due to several factors, including variability in accurately predicting its income or loss before tax and the mix of jurisdictions to which they relate, taxable income or loss in each jurisdiction, changes in its stock price, audit-related developments, acquisitions, divestitures, changes in its deferred tax assets and liabilities and their valuation, foreign currency gains (losses), changes in statutes, regulations, case law, and administrative practices, principles, and interpretations related to tax, including changes to the global tax framework, competition, and other laws and accounting rules in various jurisdictions, and relative changes of expenses or losses for which tax benefits are not recognized. Additionally, the effective tax rate can be more or less volatile based on the amount of income or loss before tax. For example, the impact of discrete items and non-deductible expenses on the effective tax rate is greater when income before income taxes is lower. For the nine months ended September 30, 2023, the Company’s effective income tax rate was (22.1)% representing an income tax benefit recorded on net income before tax. The effective tax rate for the nine months ended September 30, 2023 was lower than the U.S. statutory rate of 21% primarily due to the impact from a $56.1 million tax benefit related to Elo7, foreign operations taxed at a lower rate, and a benefit related to a research and development tax credit, partially offset by a valuation allowance recorded against tax attributes in a foreign jurisdiction and state income taxes. Although management believes its tax positions and related provisions reflected in the condensed consolidated financial statements are fully supportable, it recognizes that these tax positions and related provisions may be challenged by various tax authorities. These tax positions and related provisions are reviewed on an ongoing basis and are adjusted as additional facts and information become available, including progress on tax audits, changes in interpretation of tax laws, developments in case law and closing of statute of limitations. To the extent that the ultimate results differ from the original or adjusted estimates of the Company, the effect will be recorded in the provision for income taxes. The provision for income taxes involves a significant amount of management judgment regarding interpretation of relevant facts and laws in the jurisdictions in which the Company operates. Future changes in applicable laws, projected levels of taxable income and tax planning could change the effective tax rate and tax balances recorded by the Company. In addition, tax authorities periodically review income tax returns filed by the Company and can raise issues regarding its filing positions, timing and amount of income and deductions, and the allocation of income among the jurisdictions in which the Company operates. A significant period of time may elapse between the filing of an income tax return and the ultimate resolution of an issue raised by a revenue authority with respect to that return. Any adjustments as a result of any examination may result in additional taxes or penalties against the Company. If the ultimate result of these audits differ from original or adjusted estimates, they could have a material impact on the Company’s tax provision. The amount of unrecognized tax benefits included in the Consolidated Balance Sheets increased $11.3 million in the nine months ended September 30, 2023, from $35.2 million as of December 31, 2022 to $46.5 million as of September 30, 2023. The total amount of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate is $45.2 million as of September 30, 2023. Although the timing of the resolution and/or closure of audits is highly uncertain, it is reasonably possible that the balance of gross unrecognized tax benefits could significantly change in the next 12 months. The Company’s reasonable estimate of its gross unrecognized tax benefits, excluding interest and penalties, that could potentially be reduced during the next 12 months is $7.8 million. The Company recognizes interest and/or penalties related to uncertain tax positions in income tax expense.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Note 4—Net Income (Loss) Per Share The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except share and per share amounts): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net income (loss) $ 87,850 $ (963,068) $ 224,302 $ (803,836) Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes 1,583 — 4,750 — Net income (loss) attributable to common stockholders—diluted $ 89,433 $ (963,068) $ 229,052 $ (803,836) Denominator: Weighted-average common shares outstanding—basic 121,807,908 126,349,250 123,341,417 126,985,731 Dilutive effect of assumed conversion of options to purchase common stock 2,053,781 — 2,328,388 — Dilutive effect of assumed conversion of restricted stock units 314,798 — 661,887 — Dilutive effect of assumed conversion of convertible senior notes (1) 14,714,080 — 14,714,349 — Weighted-average common shares outstanding—diluted 138,890,567 126,349,250 141,046,041 126,985,731 Net income (loss) per share attributable to common stockholders—basic $ 0.72 $ (7.62) $ 1.82 $ (6.33) Net income (loss) per share attributable to common stockholders—diluted $ 0.64 $ (7.62) $ 1.62 $ (6.33) (1) The $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2028 (the “2021 Notes”), the $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), and the $649.9 million aggregate principal amount of 0.125% Convertible Senior Notes due 2026 (the “2019 Notes” and together with the 2021 Notes and 2020 Notes, the “Notes”) were dilutive for the three months ended September 30, 2023. The Notes and the 0% Convertible Senior Notes due 2023 (the “2018 Notes”) were dilutive for the nine months ended September 30, 2023 and anti-dilutive for the three and nine months ended September 30, 2022. During the first quarter of 2023, upon maturity of the 2018 Notes, the Company paid in cash the remaining outstanding principal to the holders of the 2018 Notes. See “Note 9—Debt” for additional information. As a result, the 2018 Notes were not included in the calculation of net income per share for the three months ended September 30, 2023. The following potential shares of common stock were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Stock options 197,999 2,999,502 177,848 3,197,330 Restricted stock units 6,665,687 6,021,635 6,020,977 5,377,776 Convertible senior notes — 14,715,893 — 14,716,800 Total anti-dilutive securities 6,863,686 23,737,030 6,198,825 23,291,906 Since the Company has reported net losses in the three and nine months ended September 30, 2022, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

Asset Impairment Charges

Asset Impairment Charges	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Asset Impairment Charges	Note 5—Asset Impairment Charges Asset impairment charges consisted of the following as of the dates indicated (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Property and equipment, net $ — $ — $ 7,855 $ — Intangible assets, net — — 60,236 — Goodwill — 1,045,022 — 1,045,022 Total asset impairment charges $ — $ 1,045,022 $ 68,091 $ 1,045,022 During the nine months ended September 30, 2023, the Company impaired property and equipment and finite-lived intangible assets of its Elo7 reporting unit in full. The asset impairment charges related to property and equipment primarily related to developed technology and the asset impairment charges related to intangible assets primarily related to trademark and customer relationships. See “Note 1—Basis of Presentation and Summary of Significant Accounting Policies” for more information. During the three and nine months ended September 30, 2022, the Company recorded non-cash impairment charges of $897.9 million and $147.1 million to write off goodwill in full for the Depop and Elo7 reporting units, respectively. The Company did not record any non-cash impairment charges to the finite-lived intangible assets or other long-lived assets of Depop and Elo7 for the three and nine months ended September 30, 2022. In the event there are adverse changes in the Company’s projected cash flows, changes in key assumptions, including but not limited to an increase in the discount rate, lower revenue growth, lower margin, and a lower terminal growth rate, the Company may be required to record additional non-cash impairment charges to its goodwill and other long-lived assets. Such non-cash charges could have a material adverse effect on the Company’s consolidated statement of operations and balance sheet in the reporting period of the charge. The impairment assessments are most sensitive to broader market conditions, including the discount rate and market multiples, and to the Company’s estimated future cash flows.

Sale of Business

Sale of Business	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Sale of Business	Note 6—Sale of Business Due to challenges Etsy faced to effectively scale Elo7 in Brazil over the last two years, particularly given headwinds created by a volatile macroeconomic environment and an increasingly competitive e-commerce market in Brazil, on August 10, 2023, Etsy closed the sale of the parent holding company of Elo7 to Enjoei S.A., a corporation in Brazil. The Company recognized a net loss on the sale of Elo7 of $2.6 million, which includes a $7.5 million loss from the reclassification out of accumulated other comprehensive loss related to a cumulative translation adjustment. The net loss on the sale of Elo7 was recorded in other income, net in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7—Fair Value Measurements The Company has characterized its investments based on the priority of the inputs used to value the investments, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1), and lowest priority to unobservable inputs (Level 3). If the inputs used to measure the investments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the investment. Investments recorded in the accompanying Consolidated Balance Sheets are categorized based on the inputs to valuation techniques as follows: Level 1 These are investments where values are based on unadjusted quoted prices for identical assets in an active market that the Company has the ability to access. Level 2 These are investments where values are based on quoted market prices in markets that are not active or model derived valuations in which all significant inputs are observable in active markets. Level 3 These are financial instruments where values are derived from techniques in which one or more significant inputs are unobservable. The Company did not have any Level 3 instruments as of December 31, 2022. Short- and long-term investments and certain cash equivalents consist of investments in debt securities that are available-for-sale. In the year ended December 31, 2022, the Company authorized the creation of an Impact Investment Fund through which the Company expects to deploy approximately $30 million to further the Company’s Impact strategy and goals. In the nine months ended September 30, 2023, the Company invested a portion of the Impact Investment Fund in three investments which are classified as long-term investments on its Consolidated Balance Sheet. The investment in a loan receivable is measured on an amortized cost basis and the investments in third-party managed funds are measured on the net assets value (“NAV”) basis. The Company uses NAV or its equivalent to measure the value of certain investments in alternative investment funds, debt funds, equity funds, and private equity funds, which may be redeemable in the near term or restricted from redemption in the near term, as a practical expedient. NAV is primarily determined based on the information provided by external fund administrators for which the most recent financial information is typically received on a lag within the quarter following the Company’s balance sheet date. The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair value of the Company’s investments as of the dates indicated (in thousands): Cost Gross Gross Fair Value Cash and Cash Equivalents Short-term Investments Long-term Investments September 30, 2023 Level 1 Money market funds $ 210,286 $ — $ — $ 210,286 $ 210,207 $ 79 $ — U.S. Government securities 84,860 (598) — 84,262 — 51,624 32,638 295,146 (598) — 294,548 210,207 51,703 32,638 Level 2 U.S. agency securities 25,553 (50) — 25,503 — 25,503 — Certificate of deposit 31,916 (11) 8 31,913 — 31,913 — Commercial paper 71,696 (39) 1 71,658 3,971 67,687 — Corporate bonds 86,735 (664) 15 86,086 — 58,124 27,962 215,900 (764) 24 215,160 3,971 183,227 27,962 Level 3 Loans receivable - held for investment 3,000 — — 3,000 — — 3,000 3,000 — — 3,000 — — 3,000 NAV Third-party managed funds 13,000 — — 13,000 — — 13,000 13,000 — — 13,000 — — 13,000 $ 527,046 $ (1,362) $ 24 $ 525,708 $ 214,178 $ 234,930 $ 76,600 December 31, 2022 Level 1 Money market funds (1) $ 462,866 $ — $ — $ 462,866 $ 374,314 $ 76 $ — U.S. Government securities 64,968 (424) 4 64,548 2,995 61,553 — 527,834 (424) 4 527,414 377,309 61,629 — Level 2 U.S. agency securities 10,053 (1) 3 10,055 — 10,055 — Certificate of deposit 40,915 (184) 7 40,738 5,471 35,267 — Commercial paper 57,777 (101) 18 57,694 4,454 53,240 — Corporate bonds 122,294 (1,729) 6 120,571 1,212 90,222 29,137 231,039 (2,015) 34 229,058 11,137 188,784 29,137 $ 758,873 $ (2,439) $ 38 $ 756,472 $ 388,446 $ 250,413 $ 29,137 (1) $88.5 million of money market funds were classified as funds receivable and seller accounts as of December 31, 2022. The table below shows the gross unrealized loss and fair value of the following investments in available-for-sale debt securities that are classified by the length of time that the securities have been in a continuous unrealized loss position as of the dates indicated (in thousands): Gross Unrealized Fair Value September 30, 2023 Less than 12 months in a continuous unrealized loss position Corporate bonds $ (274) $ 46,057 12 months or longer in a continuous unrealized loss position Corporate bonds $ (390) $ 23,887 December 31, 2022 Less than 12 months in a continuous unrealized loss position Corporate bonds $ (281) $ 70,469 U.S. Government securities (265) 51,075 $ (546) $ 121,544 12 months or longer in a continuous unrealized loss position Corporate bonds $ (1,448) $ 50,102 U.S. Government securities (159) 7,442 $ (1,607) $ 57,544 The remaining available-for-sale debt securities in an unrealized loss position have been in a continuous unrealized loss position for less than 12 months. The Company evaluates fair value for each individual security in the investment portfolio. When assessing the risk of credit loss of its available-for-sale debt securities, the Company considers factors such as the extent to which the fair value is less than the amortized cost basis, the credit rating, including whether there has been any changes to the rating of the security by a rating agency, available information relevant to the collectability of the security, and management’s intended holding period and time horizon for selling the security. Outside of the Company’s Impact Investment Fund, the Company typically invests in short- and long-term instruments, including fixed-income funds and U.S. Government securities aligned with the Company’s investment strategy. In accordance with the Company’s investment policy, all investments, other than investments made through its Impact Investment Fund, have maturities no longer than 37 months, with the average maturity of these investments maintained at 12 months or less. Disclosure of Fair Values The Company’s financial instruments that are not remeasured at fair value in the Consolidated Balance Sheets include the Notes. See “Note 9—Debt” for additional information. The Company estimates the fair value of the Notes through inputs that are observable in the market, classified as Level 2 as described above. The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands): As of September 30, 2023 As of December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value 2021 Notes $ 991,054 $ 758,800 $ 989,629 $ 863,300 2020 Notes 645,326 519,870 644,431 646,230 2019 Notes 646,371 662,625 645,536 998,361 2018 Notes — — 44 145 $ 2,282,751 $ 1,941,295 $ 2,279,640 $ 2,508,036 The carrying value of other financial instruments, including accounts receivable, funds receivable and seller accounts, accounts payable, and funds payable and amounts due to sellers approximate fair value due to the immediate or short-term maturity associated with these instruments.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Note 8—Accrued Expenses Accrued expenses consisted of the following as of the dates indicated (in thousands): As of September 30, As of December 31, Vendor accruals $ 94,075 $ 127,791 Pass-through marketplace tax collection obligation 92,229 129,591 Employee compensation-related liabilities 68,425 63,718 Taxes payable 17,244 10,134 Total accrued expenses $ 271,973 $ 331,234

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Note 9—Debt The following table presents the outstanding principal amount and carrying value of the Notes as of the dates indicated (in thousands): As of September 30, 2023 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ 1,000,000 $ 650,000 $ 649,887 $ — $ 2,299,887 Unamortized debt issuance costs 8,946 4,674 3,516 — 17,136 Net carrying value $ 991,054 $ 645,326 $ 646,371 $ — $ 2,282,751 As of December 31, 2022 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ 1,000,000 $ 650,000 $ 649,932 $ 44 $ 2,299,976 Unamortized debt issuance costs 10,371 5,569 4,396 — 20,336 Net carrying value $ 989,629 $ 644,431 $ 645,536 $ 44 $ 2,279,640 Terms of the Notes The Notes will mature at their maturity date unless earlier converted or repurchased. The terms of the Notes are summarized below: Convertible Notes Maturity Date Contractual Convertibility Date (1) Initial Conversion Rate per $1,000 Principal Initial Conversion Price Annual Effective Interest Rate 2021 Notes June 15, 2028 February 15, 2028 4.0518 $ 246.80 0.4 % 2020 Notes September 1, 2027 May 1, 2027 5.0007 199.97 0.3 % 2019 Notes October 1, 2026 June 1, 2026 11.4040 87.69 0.3 % 2018 Notes March 1, 2023 November 1, 2022 27.5691 36.27 — % (1) D uring any calendar quarter preceding the respective convertibility date of each series of Notes, in which the closing price of the Company’s common stock exceeds 130% of the applicable conversion price of the Notes on at least 20 of the last 30 consecutive trading days of the quarter, holders may, in the immediate quarter following, convert all or a portion of their Notes. Based on the daily closing prices of the Company’s stock during the quarter ended September 30, 2023, holders of the 2021 Notes, 2020 Notes, and 2019 Notes are not eligible to convert their 2021 Notes, 2020 Notes, and remaining 2019 Notes, respectively, during the fourth quarter of 2023. During the first quarter of 2023, upon maturity of the 2018 Notes, the Company paid in cash the remaining outstanding principal of $44 thousand to the holders of the 2018 Notes. Based on the terms of each series of Notes, when a conversion notice is received, the Company has the option to pay or deliver cash, shares of the Company’s common stock, or a combination thereof. Accordingly, the Company cannot be required to settle the Notes in cash and, therefore, the Notes are classified as long-term debt as of September 30, 2023. The Company may redeem all or any portion of the 2021 Notes, at the Company’s option, subject to partial redemption limitations, on or after June 20, 2025, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2021 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Notes are general unsecured obligations of the Company. The Notes rank senior in right of payment to all of the Company’s future indebtedness that is expressly subordinated in right of payment to the Notes; rank equal in right of payment with all of the Company’s liabilities that are not so subordinated; are effectively junior to any of the Company’s secured indebtedness; and are structurally junior to all indebtedness and liabilities (including trade payables) of the Company’s subsidiaries. Interest Expense Interest expense, which consists of coupon interest and amortization of debt issuance costs, related to each of the Notes for the periods presented below was as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 2021 Notes $ 1,100 $ 1,100 $ 3,300 $ 3,300 2020 Notes 502 502 1,505 1,505 2019 Notes 497 497 1,489 1,489 Total interest expense $ 2,099 $ 2,099 $ 6,294 $ 6,294 Fair Value of Notes The estimated fair value of each of the Notes was determined through inputs that are observable in the market, and are classified as Level 2. See “Note 7—Fair Value Measurements” for more information regarding the fair value of the Notes. Capped Call Transactions The Company used a portion of the net proceeds from each of the Note offerings to enter into separate privately negotiated capped call instruments (the 2018, 2019, 2020, and 2021 capped call instruments collectively referred to as the “Capped Call Transactions”) with certain financial institutions, initial purchasers, and/or their respective affiliates. The Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount of the Notes upon conversion of the Notes in the event that the market price per share of the Company’s common stock is greater than the strike price of the Capped Call Transactions with such reduction and/or offset subject to a cap. Collectively, the Capped Call Transactions cover, initially, the number of shares of the Company’s common stock underlying the respective Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Notes. The initial terms of the Company’s outstanding Capped Call Transactions are presented below: Capped Call Transactions Maturity Date Initial Cap Price per Share Cap Price Premium 2021 Capped Call Transactions June 15, 2028 $ 340.42 100 % 2020 Capped Call Transactions September 1, 2027 327.83 150 % 2019 Capped Call Transactions October 1, 2026 148.63 150 % The 2018 capped call transactions matured on March 1, 2023, and, in accordance with the settlement terms, the Company received 1,194,006 shares of the Company’s common stock from the counterparties to the capped call instruments. These shares were retired upon receipt. 2023 Credit Agreement On March 24, 2023, the Company entered into a $400.0 million senior secured revolving credit facility pursuant to an Amended and Restated Credit Agreement (the “2023 Credit Agreement”) among the Company, as borrower, certain subsidiaries of the Company as guarantors, the lenders, and JPMorgan Chase Bank N.A., as administrative Agent. The 2023 Credit Agreement will mature in March 2028 and includes a letter of credit sublimit of $60.0 million and a swingline loan sublimit of $20.0 million. The 2023 Credit Agreement amends and restates in its entirety the Credit Agreement dated as of February 25, 2019 between the Company, as borrower, the lenders party thereto from time to time, and Citibank N.A., as administrative Agent. Borrowings under the 2023 Credit Agreement (other than swingline loans) bear interest, at the Company’s option, at (i) a base rate equal to the highest of (a) the prime rate, (b) the federal funds rate plus 0.50%, and (c) an adjusted Term SOFR rate for a one-month interest period plus 1.00%, in each case plus a margin ranging from 0.50% to 1.25% or (ii) an adjusted Term SOFR rate plus a margin ranging from 1.50% to 2.25%. Swingline loans under the 2023 Credit Agreement bear interest at the same base rate (plus the margin applicable to borrowings bearing interest at the base rate). These margins are determined based on the senior secured net leverage ratio (defined as secured funded debt, net of unrestricted cash up to $100.0 million, to EBITDA (as defined in the 2023 Credit Agreement)) for the preceding four fiscal quarter periods. The Company is also obligated to pay other customary fees for a credit facility of this size and type, including an unused commitment fee, ranging from 0.20% to 0.35% depending on the Company’s senior secured net leverage ratio, and fees associated with letters of credit. The 2023 Credit Agreement also permits the Company, in certain circumstances, to request an increase in the facility by an amount of up to $200.0 million at the same maturity, pricing and other terms and to request an extension of the maturity date for the facility. In connection with the 2023 Credit Agreement, the Company also paid the lenders certain upfront fees. While the Company had no outstanding borrowings under the 2023 Credit Agreement as of September 30, 2023, one of the lenders has issued a $5.3 million standby letter of credit in favor of the landlord of the Company’s corporate headquarters, which can be drawn down from amounts available under the 2023 Credit Agreement. As of September 30, 2023, the Company was in compliance with all financial covenants.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10—Commitments and Contingencies Purchase Obligations The Company’s purchase obligations are primarily related to cloud computing. During the nine months ended September 30, 2023, there were no material changes outside the ordinary course of business to the Company’s non-cancelable purchase obligations disclosed in the Company’s Annual Report. Legal Proceedings From time to time in the normal course of business, various claims and litigation have been asserted or commenced against the Company. Due to uncertainties inherent in litigation and other claims, the Company can give no assurance that it will prevail in any such matters, which could subject the Company to significant liability for damages. Any claims or litigation could have an adverse effect on the Company’s results of operations, cash flows, or business and financial condition in the period the claims or litigation are resolved. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these matters will not have a material adverse effect on its business.

Stockholders_ Deficit

Stockholders’ Deficit	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders’ Deficit	Note 11—Stockholders’ Deficit Effective May 3, 2022, the Board of Directors approved a stock repurchase program that authorizes the Company to repurchase up to $600 million of its common stock (the “May 2022 Stock Repurchase Program”). All purchases under this program were completed in the third quarter of 2023. Effective June 14, 2023, the Board of Directors approved a new stock repurchase program that authorizes the Company to repurchase up to an additional $1 billion of its common stock (the “June 2023 Stock Repurchase Program”). The June 2023 Stock Repurchase Program does not have a time limit and may be modified, suspended, or terminated at any time by the Board of Directors. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, stock price, trading volume, and general market conditions, along with the Company’s working capital requirements, general business conditions, and other factors. Under the June 2023 Stock Repurchase Program, the Company may purchase shares of its common stock through various means, including open market transactions, privately negotiated transactions, tender offers, or any combination thereof. In addition, open market repurchases of common stock could be made pursuant to trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which would permit common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The following table summarizes the Company’s cumulative share repurchase activity under the programs noted above, excluding shares withheld to satisfy tax withholding obligations in connection with the vesting of employee restricted stock units (“RSUs”) and the 1,194,006 shares received from the 2018 capped call transactions noted below (in thousands, except share and per share amounts): Shares Repurchased Average Price Paid per Share (1) Value of Shares Repurchased (1) Remaining Amount Authorized Balance as of January 1, 2023 $ 301,431 Repurchases of common stock for the three months ended: March 31, 2023 1,205,151 $ 122.96 $ 148,199 (148,199) June 30, 2023 411,421 94.44 38,863 (38,863) New Authorization as of June 14, 2023 — — — 1,000,000 Repurchases of common stock for the three months ended: September 30, 2023 3,915,279 75.84 297,009 (297,009) Balance as of September 30, 2023 5,531,851 $ 87.49 $ 484,071 $ 817,360 (1) Average price paid per share excludes broker commissions and excise tax. Value of shares repurchased includes broker commissions. The 2018 capped call transactions matured on March 1, 2023, and in accordance with the settlement terms, the Company received 1,194,006 shares of the Company’s common stock from the counterparties to the capped call instruments. These shares were retired upon receipt. See “Note 9—Debt” for additional information. This receipt and subsequent retirement of shares was separate from the stock repurchase plan approved by the Board of Directors in May 2022. All repurchases were made using cash on hand, and all repurchased shares of common stock have been retired.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 12—Stock-Based Compensation During the three and nine months ended September 30, 2023, the Company granted RSUs, including financial performance-based restricted stock units (“Financial PBRSUs”) and total shareholder return performance-based restricted stock units (“TSR PBRSUs”), under its 2015 Equity Incentive Plan (“2015 Plan”) and, pursuant to the evergreen increase provision of the 2015 Plan, 6,252,714 additional shares were added to the total number of shares available for issuance under the 2015 Plan effective as of January 2, 2023. At September 30, 2023, 56,644,564 shares were authorized under the 2015 Plan and 36,635,644 shares were available for future grant. The following table summarizes the activity for the Company’s unvested RSUs, which includes Financial PBRSUs and TSR PBRSUs, during the nine months ended September 30, 2023: Shares Weighted-Average Unvested at December 31, 2022 6,393,786 $ 128.37 Granted 3,141,836 105.55 Vested (1,345,482) 116.45 Forfeited/Canceled (746,529) 137.78 Unvested at September 30, 2023 7,443,611 120.00 The total unrecognized compensation expense at September 30, 2023 related to the Company’s unvested RSUs, including the Financial PBRSUs and TSR PBRSUs, was $716.2 million, which will be recognized over an estimated weighted-average amortization period of 2.71 years. Awards related to the acquisition of Depop on July 12, 2021, will be recognized as post-combination service stock-based compensation expense over a vesting period equal to the mandatory service period associated with the award, with a corresponding liability included within Other liabilities on the Company’s Consolidated Balance Sheets until the service-based vesting criteria are met and the awards are settled in shares of Etsy common stock. The total unrecognized compensation expense at September 30, 2023 related to the Company’s options was $7.0 million, which will be recognized over an estimated weighted-average amortization period of 1.33 years. Stock-based compensation expense included in the Condensed Consolidated Statements of Operations for the periods presented below is as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cost of revenue $ 8,105 $ 6,089 $ 23,522 $ 16,545 Marketing 5,763 5,083 17,132 14,552 Product development 37,842 34,106 112,771 88,656 General and administrative 18,408 7,627 62,657 46,780 Stock-based compensation expense $ 70,118 $ 52,905 $ 216,082 $ 166,533

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 87,850	$ (963,068)	$ 224,302	$ (803,836)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Josh Silverman [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Josh Silverman, our Chief Executive Officer and a member of our Board of Directors, adopted a sales trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act (a “10b5-1 Plan”) on March 7, 2022, which 10b5-1 Plan was amended on November 14, 2022 and expired on November 1, 2023. On August 9, 2023, Mr. Silverman adopted a new 10b5-1 Plan pursuant to which a maximum of 771,600 shares of Etsy common stock to be issued upon exercises of a stock option may have been sold. On November 2, 2023, Mr. Silverman terminated that 10b5-1 Plan before any trades were executed under it. Background on Mr. Silverman’s 10b5-1 Plans Mr. Silverman retains a fully vested option to purchase over 1.7 million Etsy shares under the 2017 grant that he was awarded to induce him to join Etsy in 2017. That option expires (and will be forfeited) if it is not exercised by the expiration date of May 3, 2027. Mr. Silverman also holds over 100,000 shares (directly and indirectly). In order to effectively manage the equity he has been granted since joining Etsy in 2017 (as part of normal portfolio diversification), Mr. Silverman has advised that he intends to put another 10b5-1 Plan in place, subject to the required “cooling off” period required by statute, in order to sell Etsy common stock issuable pursuant to that option. For more information regarding Mr. Silverman's compensation and stock ownership, see our 2023 Proxy Statement and Mr. Silverman’s beneficial ownership filings.
Name	Josh Silverman
Title	Chief Executive Officer and a member of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 9, 2023
Arrangement Duration	85 days
Aggregate Available	771,600	771,600
Kimaria Seymour [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 7, 2023, Kimaria Seymour, our Chief Human Resources Officer, adopted a 10b5-1 Plan under which a maximum of 19,476 shares of Etsy common stock held by Ms. Seymour, excluding shares withheld to satisfy tax withholding obligations, may be sold. The plan terminates on the earlier of the date all the shares under the plan are sold and August 15, 2024.
Name	Kimaria Seymour
Title	Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 7, 2023
Arrangement Duration	374 days
Aggregate Available	19,476	19,476

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation	Basis of Consolidation The condensed consolidated financial statements include the accounts of Etsy and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. On August 10, 2023, Etsy closed the previously announced sale of the parent holding company of Elo7 Serviços de Informática (“Elo7”), the Company’s Brazil-based marketplace for handmade and unique items, to Enjoei S.A., a corporation in Brazil. The financial results of Elo7 have been included in Etsy’s Consolidated Financial Statements until August 10, 2023. See “Note 6—Sale of Business ” for more information.
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The Company has condensed or omitted certain information and notes normally included in complete annual financial statements prepared in accordance with GAAP. These unaudited interim condensed consolidated financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on February 23, 2023 (the “Annual Report”). In the opinion of management, all material adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for the periods presented have been reflected in the condensed consolidated financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations for the full annual period or any future period due to seasonal and other factors.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and judgments. The accounting estimates that require management’s most subjective judgments include: stock-based compensation; income taxes, including the estimate of the annual effective tax rate at interim periods and evaluation of uncertain tax positions; the valuation of acquired intangible assets, developed technology, and goodwill as part of purchase price allocations for business combinations; valuation of goodwill; and leases. As of September 30, 2023, there continues to be significant global macroeconomic and geopolitical uncertainty which may impact the Company’s business, results of operations, and financial condition. As a result, many of the Company’s estimates and judgments require increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods.
Interim Impairment Evaluation	Interim Impairment Evaluation During the quarter ended June 30, 2023, the Company evaluated whether events or circumstances had changed such that it would indicate it is more likely than not that its goodwill, finite-lived intangible assets, and other long-lived assets were impaired (a “triggering event”). Given the macroeconomic conditions at the time, challenges applying the Company’s technological, marketing, and operational expertise to help scale Elo7’s business, and the resultant headwinds to the business, the Company revised its business forecasts for Elo7 downwards. The Company concluded a triggering event had occurred for the Elo7 reporting unit, and conducted an impairment test of its finite-lived intangible assets and other long-lived assets as of June 30, 2023. The Company prepared an updated fair value for the Elo7 reporting unit based on a quantitative assessment, which included estimates of future revenue, and the net available cash flows; as well as a determination that the Company would more likely than not use the Elo7 asset group, including its intangible assets, for a period of less than twelve months. Based on this assessment, the Company concluded that the book value of the finite-lived intangible assets and other long-lived assets for the Elo7 reporting units were fully impaired. The Company recognized impairment charges of $68.1 million for the Elo7 reporting unit as a result of this quantitative assessment during the three months ended June 30, 2023. See “Note 5—Asset Impairment Charges” for further details.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table summarizes revenue disaggregated by Marketplace revenue and optional Services revenue for the periods presented (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Marketplace revenue $ 460,922 $ 443,489 $ 1,381,395 $ 1,310,729 Services revenue 175,380 150,980 524,660 448,141 Revenue $ 636,302 $ 594,469 $ 1,906,055 $ 1,758,870

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except share and per share amounts): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator: Net income (loss) $ 87,850 $ (963,068) $ 224,302 $ (803,836) Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes 1,583 — 4,750 — Net income (loss) attributable to common stockholders—diluted $ 89,433 $ (963,068) $ 229,052 $ (803,836) Denominator: Weighted-average common shares outstanding—basic 121,807,908 126,349,250 123,341,417 126,985,731 Dilutive effect of assumed conversion of options to purchase common stock 2,053,781 — 2,328,388 — Dilutive effect of assumed conversion of restricted stock units 314,798 — 661,887 — Dilutive effect of assumed conversion of convertible senior notes (1) 14,714,080 — 14,714,349 — Weighted-average common shares outstanding—diluted 138,890,567 126,349,250 141,046,041 126,985,731 Net income (loss) per share attributable to common stockholders—basic $ 0.72 $ (7.62) $ 1.82 $ (6.33) Net income (loss) per share attributable to common stockholders—diluted $ 0.64 $ (7.62) $ 1.62 $ (6.33) (1) The $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2028 (the “2021 Notes”), the $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), and the $649.9 million aggregate principal amount of 0.125% Convertible Senior Notes due 2026 (the “2019 Notes” and together with the 2021 Notes and 2020 Notes, the “Notes”) were dilutive for the three months ended September 30, 2023. The Notes and the 0% Convertible Senior Notes due 2023 (the “2018 Notes”) were dilutive for the nine months ended September 30, 2023 and anti-dilutive for the three and nine months ended September 30, 2022. During the first quarter of 2023, upon maturity of the 2018 Notes, the Company paid in cash the remaining outstanding principal to the holders of the 2018 Notes. See “Note 9—Debt” for additional information. As a result, the 2018 Notes were not included in the calculation of net income per share for the three months ended September 30, 2023.
Schedule of Anti-Dilutive Securities Excluded from Computation of Net Income (Loss) Per Share	The following potential shares of common stock were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Stock options 197,999 2,999,502 177,848 3,197,330 Restricted stock units 6,665,687 6,021,635 6,020,977 5,377,776 Convertible senior notes — 14,715,893 — 14,716,800 Total anti-dilutive securities 6,863,686 23,737,030 6,198,825 23,291,906

Asset Impairment Charges (Table

Asset Impairment Charges (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Assets Impairment Charges	Asset impairment charges consisted of the following as of the dates indicated (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Property and equipment, net $ — $ — $ 7,855 $ — Intangible assets, net — — 60,236 — Goodwill — 1,045,022 — 1,045,022 Total asset impairment charges $ — $ 1,045,022 $ 68,091 $ 1,045,022

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Values Company’s Investments	The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair value of the Company’s investments as of the dates indicated (in thousands): Cost Gross Gross Fair Value Cash and Cash Equivalents Short-term Investments Long-term Investments September 30, 2023 Level 1 Money market funds $ 210,286 $ — $ — $ 210,286 $ 210,207 $ 79 $ — U.S. Government securities 84,860 (598) — 84,262 — 51,624 32,638 295,146 (598) — 294,548 210,207 51,703 32,638 Level 2 U.S. agency securities 25,553 (50) — 25,503 — 25,503 — Certificate of deposit 31,916 (11) 8 31,913 — 31,913 — Commercial paper 71,696 (39) 1 71,658 3,971 67,687 — Corporate bonds 86,735 (664) 15 86,086 — 58,124 27,962 215,900 (764) 24 215,160 3,971 183,227 27,962 Level 3 Loans receivable - held for investment 3,000 — — 3,000 — — 3,000 3,000 — — 3,000 — — 3,000 NAV Third-party managed funds 13,000 — — 13,000 — — 13,000 13,000 — — 13,000 — — 13,000 $ 527,046 $ (1,362) $ 24 $ 525,708 $ 214,178 $ 234,930 $ 76,600 December 31, 2022 Level 1 Money market funds (1) $ 462,866 $ — $ — $ 462,866 $ 374,314 $ 76 $ — U.S. Government securities 64,968 (424) 4 64,548 2,995 61,553 — 527,834 (424) 4 527,414 377,309 61,629 — Level 2 U.S. agency securities 10,053 (1) 3 10,055 — 10,055 — Certificate of deposit 40,915 (184) 7 40,738 5,471 35,267 — Commercial paper 57,777 (101) 18 57,694 4,454 53,240 — Corporate bonds 122,294 (1,729) 6 120,571 1,212 90,222 29,137 231,039 (2,015) 34 229,058 11,137 188,784 29,137 $ 758,873 $ (2,439) $ 38 $ 756,472 $ 388,446 $ 250,413 $ 29,137 (1) $88.5 million of money market funds were classified as funds receivable and seller accounts as of December 31, 2022.
Schedule of Unrealized Loss and Fair Value of Debt Securities Available-for-Sale	The table below shows the gross unrealized loss and fair value of the following investments in available-for-sale debt securities that are classified by the length of time that the securities have been in a continuous unrealized loss position as of the dates indicated (in thousands): Gross Unrealized Fair Value September 30, 2023 Less than 12 months in a continuous unrealized loss position Corporate bonds $ (274) $ 46,057 12 months or longer in a continuous unrealized loss position Corporate bonds $ (390) $ 23,887 December 31, 2022 Less than 12 months in a continuous unrealized loss position Corporate bonds $ (281) $ 70,469 U.S. Government securities (265) 51,075 $ (546) $ 121,544 12 months or longer in a continuous unrealized loss position Corporate bonds $ (1,448) $ 50,102 U.S. Government securities (159) 7,442 $ (1,607) $ 57,544
Schedule of Estimated Fair Value Liability Component	The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands): As of September 30, 2023 As of December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value 2021 Notes $ 991,054 $ 758,800 $ 989,629 $ 863,300 2020 Notes 645,326 519,870 644,431 646,230 2019 Notes 646,371 662,625 645,536 998,361 2018 Notes — — 44 145 $ 2,282,751 $ 1,941,295 $ 2,279,640 $ 2,508,036

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consisted of the following as of the dates indicated (in thousands): As of September 30, As of December 31, Vendor accruals $ 94,075 $ 127,791 Pass-through marketplace tax collection obligation 92,229 129,591 Employee compensation-related liabilities 68,425 63,718 Taxes payable 17,244 10,134 Total accrued expenses $ 271,973 $ 331,234

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the outstanding principal amount and carrying value of the Notes as of the dates indicated (in thousands): As of September 30, 2023 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ 1,000,000 $ 650,000 $ 649,887 $ — $ 2,299,887 Unamortized debt issuance costs 8,946 4,674 3,516 — 17,136 Net carrying value $ 991,054 $ 645,326 $ 646,371 $ — $ 2,282,751 As of December 31, 2022 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ 1,000,000 $ 650,000 $ 649,932 $ 44 $ 2,299,976 Unamortized debt issuance costs 10,371 5,569 4,396 — 20,336 Net carrying value $ 989,629 $ 644,431 $ 645,536 $ 44 $ 2,279,640
Schedule of Maturities of Convertible Notes	The Notes will mature at their maturity date unless earlier converted or repurchased. The terms of the Notes are summarized below: Convertible Notes Maturity Date Contractual Convertibility Date (1) Initial Conversion Rate per $1,000 Principal Initial Conversion Price Annual Effective Interest Rate 2021 Notes June 15, 2028 February 15, 2028 4.0518 $ 246.80 0.4 % 2020 Notes September 1, 2027 May 1, 2027 5.0007 199.97 0.3 % 2019 Notes October 1, 2026 June 1, 2026 11.4040 87.69 0.3 % 2018 Notes March 1, 2023 November 1, 2022 27.5691 36.27 — % (1) D uring any calendar quarter preceding the respective convertibility date of each series of Notes, in which the closing price of the Company’s common stock exceeds 130% of the applicable conversion price of the Notes on at least 20 of the last 30 consecutive trading days of the quarter, holders may, in the immediate quarter following, convert all or a portion of their Notes. Based on the daily closing prices of the Company’s stock during the quarter ended September 30, 2023, holders of the 2021 Notes, 2020 Notes, and 2019 Notes are not eligible to convert their 2021 Notes, 2020 Notes, and remaining 2019 Notes, respectively, during the fourth quarter of 2023.
Schedule of Interest Expense	Interest expense, which consists of coupon interest and amortization of debt issuance costs, related to each of the Notes for the periods presented below was as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 2021 Notes $ 1,100 $ 1,100 $ 3,300 $ 3,300 2020 Notes 502 502 1,505 1,505 2019 Notes 497 497 1,489 1,489 Total interest expense $ 2,099 $ 2,099 $ 6,294 $ 6,294
Schedule of Capped Call Transactions	The initial terms of the Company’s outstanding Capped Call Transactions are presented below: Capped Call Transactions Maturity Date Initial Cap Price per Share Cap Price Premium 2021 Capped Call Transactions June 15, 2028 $ 340.42 100 % 2020 Capped Call Transactions September 1, 2027 327.83 150 % 2019 Capped Call Transactions October 1, 2026 148.63 150 %

Stockholders_ Deficit (Tables)

Stockholders’ Deficit (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Class of Treasury Stock	The following table summarizes the Company’s cumulative share repurchase activity under the programs noted above, excluding shares withheld to satisfy tax withholding obligations in connection with the vesting of employee restricted stock units (“RSUs”) and the 1,194,006 shares received from the 2018 capped call transactions noted below (in thousands, except share and per share amounts): Shares Repurchased Average Price Paid per Share (1) Value of Shares Repurchased (1) Remaining Amount Authorized Balance as of January 1, 2023 $ 301,431 Repurchases of common stock for the three months ended: March 31, 2023 1,205,151 $ 122.96 $ 148,199 (148,199) June 30, 2023 411,421 94.44 38,863 (38,863) New Authorization as of June 14, 2023 — — — 1,000,000 Repurchases of common stock for the three months ended: September 30, 2023 3,915,279 75.84 297,009 (297,009) Balance as of September 30, 2023 5,531,851 $ 87.49 $ 484,071 $ 817,360 (1) Average price paid per share excludes broker commissions and excise tax. Value of shares repurchased includes broker commissions.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Unvested RSU Activity	The following table summarizes the activity for the Company’s unvested RSUs, which includes Financial PBRSUs and TSR PBRSUs, during the nine months ended September 30, 2023: Shares Weighted-Average Unvested at December 31, 2022 6,393,786 $ 128.37 Granted 3,141,836 105.55 Vested (1,345,482) 116.45 Forfeited/Canceled (746,529) 137.78 Unvested at September 30, 2023 7,443,611 120.00
Schedule of Stock-based Compensation Expense	Stock-based compensation expense included in the Condensed Consolidated Statements of Operations for the periods presented below is as follows (in thousands): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cost of revenue $ 8,105 $ 6,089 $ 23,522 $ 16,545 Marketing 5,763 5,083 17,132 14,552 Product development 37,842 34,106 112,771 88,656 General and administrative 18,408 7,627 62,657 46,780 Stock-based compensation expense $ 70,118 $ 52,905 $ 216,082 $ 166,533

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Asset impairment charges	$ 0	$ 68,100	$ 1,045,022	$ 68,091	$ 1,045,022

Revenue - Summary of Revenue by

Revenue - Summary of Revenue by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 636,302	$ 594,469	$ 1,906,055	$ 1,758,870
Marketplace revenue
Disaggregation of Revenue [Line Items]
Revenue	460,922	443,489	1,381,395	1,310,729
Services revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 175,380	$ 150,980	$ 524,660	$ 448,141

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized in the period	$ 14

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	(22.10%)
Non-recurring taxable loss related to expected divestiture	$ 56.1
Unrecognized tax benefits, period increase	11.3
Unrecognized tax benefits	46.5	$ 35.2
Unrecognized tax benefits that would impact effective tax rate favorably	45.2
Decrease in unrecognized tax benefits	$ 7.8

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2021	Aug. 31, 2020	Sep. 30, 2019	Mar. 31, 2018
Numerator:
Net income (loss)	$ 87,850,000	$ (963,068,000)	$ 224,302,000	$ (803,836,000)
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes	1,583,000	0	4,750,000	0
Net income (loss) attributable to common stockholders—diluted	$ 89,433,000	$ (963,068,000)	$ 229,052,000	$ (803,836,000)
Denominator:
Weighted average common shares outstanding—basic (in shares)	121,807,908	126,349,250	123,341,417	126,985,731
Dilutive effect of assumed conversion of convertible senior notes (in shares)	14,714,080	0	14,714,349	0
Weighted average common shares outstanding - diluted (in shares)	138,890,567	126,349,250	141,046,041	126,985,731
Net income (loss) per share attributable to common stockholders—basic (in dollars per share)	$ 0.72	$ (7.62)	$ 1.82	$ (6.33)
Net income (loss) per share attributable to common stockholders—diluted (in dollars per share)	$ 0.64	$ (7.62)	$ 1.62	$ (6.33)
Convertible Debt
Denominator:
Principal	$ 2,299,887,000		$ 2,299,887,000			$ 2,299,976,000
Convertible Debt | 2021 Notes
Denominator:
Principal	1,000,000,000		1,000,000,000			1,000,000,000	$ 1,000,000,000
Debt instrument, interest rate (as a percent)							0.25%
Convertible Debt | 2020 Notes
Denominator:
Principal	650,000,000		650,000,000			650,000,000		$ 650,000,000
Debt instrument, interest rate (as a percent)								0.125%
Convertible Debt | 2019 Notes
Denominator:
Debt instrument, interest rate (as a percent)									0.125%
Principal, net of conversion notices	649,887,000		649,887,000			649,932,000			$ 649,900,000
Convertible Debt | 2018 Notes
Denominator:
Debt instrument, interest rate (as a percent)										0%
Principal, net of conversion notices	$ 0		$ 0		$ 44,000	$ 44,000
Stock Options
Denominator:
Dilutive effect of assumed conversion (in shares)	2,053,781	0	2,328,388	0
Restricted stock units
Denominator:
Dilutive effect of assumed conversion (in shares)	314,798	0	661,887	0

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Shares Excluded from the Calculation of Diluted Net Income (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	6,863,686	23,737,030	6,198,825	23,291,906
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	197,999	2,999,502	177,848	3,197,330
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	6,665,687	6,021,635	6,020,977	5,377,776
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	0	14,715,893	0	14,716,800

Net Income (Loss) Per Share - N

Net Income (Loss) Per Share - Narrative (Details) - Convertible Debt - USD ($)	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2021	Aug. 31, 2020	Sep. 30, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Principal	$ 2,299,887,000		$ 2,299,976,000
2021 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Principal	1,000,000,000		1,000,000,000	$ 1,000,000,000
Debt instrument, interest rate (as a percent)				0.25%
2020 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Principal	650,000,000		650,000,000		$ 650,000,000
Debt instrument, interest rate (as a percent)					0.125%
2019 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt instrument, interest rate (as a percent)						0.125%
Principal, net of conversion notices	649,887,000		649,932,000			$ 649,900,000
Convertible Senior Notes Due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt instrument, interest rate (as a percent)							0%
Principal, net of conversion notices	$ 0	$ 44,000	$ 44,000

Asset Impairment Charges - Sche

Asset Impairment Charges - Schedule of Assets Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Property and equipment, net	$ 0		$ 0	$ 7,855	$ 0
Intangible assets, net	0		0	60,236	0
Goodwill	0		1,045,022	0	1,045,022
Total asset impairment charges	$ 0	$ 68,100	$ 1,045,022	$ 68,091	$ 1,045,022

Asset Impairment Charges - Narr

Asset Impairment Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue, Major Customer [Line Items]
Impairment	$ 0	$ 1,045,022	$ 0	$ 1,045,022
Depop
Revenue, Major Customer [Line Items]
Impairment		897,900		897,900
Elo7
Revenue, Major Customer [Line Items]
Impairment		$ 147,100		$ 147,100

Sale of Business (Details)

Sale of Business (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of business		$ (2,630)	$ 0
Elo7
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of business	$ (2,600)	(2,600)
Cumulative translation adjustment	(7,500)	(7,500)
Reclassification adjustment out of accumulated other comprehensive loss	$ (7,500)	$ (7,500)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023 investment	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount authorized for impact portfolio | $		$ 30
Number of investments related to impact portfolio | investment	3
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities, investment maturity	37 months
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities, investment maturity	12 months

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Values Company’s Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	$ 527,046	$ 758,873
Gross Unrealized Holding Loss	(1,362)	(2,439)
Gross Unrealized Holding Gain	24	38
Fair Value	525,708	756,472
Cash and Cash Equivalents	214,178	388,446
Short-term investments	234,930	250,413
Long-term investments	76,600	29,137
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	295,146	527,834
Gross Unrealized Holding Loss	(598)	(424)
Gross Unrealized Holding Gain	0	4
Fair Value	294,548	527,414
Cash and Cash Equivalents	210,207	377,309
Short-term investments	51,703	61,629
Long-term investments	32,638	0
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	210,286	462,866
Gross Unrealized Holding Loss	0	0
Gross Unrealized Holding Gain	0	0
Fair Value	210,286	462,866
Cash and Cash Equivalents	210,207	374,314
Short-term investments	79	76
Long-term investments	0	0
Funds receivable and seller accounts		88,500
Level 1 | U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	84,860	64,968
Gross Unrealized Holding Loss	(598)	(424)
Gross Unrealized Holding Gain	0	4
Fair Value	84,262	64,548
Cash and Cash Equivalents	0	2,995
Short-term investments	51,624	61,553
Long-term investments	32,638	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	215,900	231,039
Gross Unrealized Holding Loss	(764)	(2,015)
Gross Unrealized Holding Gain	24	34
Fair Value	215,160	229,058
Cash and Cash Equivalents	3,971	11,137
Short-term investments	183,227	188,784
Long-term investments	27,962	29,137
Level 2 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	25,553	10,053
Gross Unrealized Holding Loss	(50)	(1)
Gross Unrealized Holding Gain	0	3
Fair Value	25,503	10,055
Cash and Cash Equivalents	0	0
Short-term investments	25,503	10,055
Long-term investments	0	0
Level 2 | Certificate of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	31,916	40,915
Gross Unrealized Holding Loss	(11)	(184)
Gross Unrealized Holding Gain	8	7
Fair Value	31,913	40,738
Cash and Cash Equivalents	0	5,471
Short-term investments	31,913	35,267
Long-term investments	0	0
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	71,696	57,777
Gross Unrealized Holding Loss	(39)	(101)
Gross Unrealized Holding Gain	1	18
Fair Value	71,658	57,694
Cash and Cash Equivalents	3,971	4,454
Short-term investments	67,687	53,240
Long-term investments	0	0
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	86,735	122,294
Gross Unrealized Holding Loss	(664)	(1,729)
Gross Unrealized Holding Gain	15	6
Fair Value	86,086	120,571
Cash and Cash Equivalents	0	1,212
Short-term investments	58,124	90,222
Long-term investments	27,962	$ 29,137
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	3,000
Gross Unrealized Holding Loss	0
Gross Unrealized Holding Gain	0
Fair Value	3,000
Cash and Cash Equivalents	0
Short-term investments	0
Long-term investments	3,000
Level 3 | Loans receivable - held for investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	3,000
Gross Unrealized Holding Loss	0
Gross Unrealized Holding Gain	0
Fair Value	3,000
Cash and Cash Equivalents	0
Short-term investments	0
Long-term investments	3,000
NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	13,000
Gross Unrealized Holding Loss	0
Gross Unrealized Holding Gain	0
Fair Value	13,000
Cash and Cash Equivalents	0
Short-term investments	0
Long-term investments	13,000
NAV | Third-party managed funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost, Total	13,000
Gross Unrealized Holding Loss	0
Gross Unrealized Holding Gain	0
Fair Value	13,000
Cash and Cash Equivalents	0
Short-term investments	0
Long-term investments	$ 13,000

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Unrealized Loss and Fair Value of Debt Securities Available-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Less than 12 months in a continuous unrealized loss position
Gross Unrealized Holding Loss		$ (546)
Fair Value		121,544
12 months or longer in a continuous unrealized loss position
Gross Unrealized Holding Loss		(1,607)
Fair Value		57,544
Corporate bonds
Less than 12 months in a continuous unrealized loss position
Gross Unrealized Holding Loss	$ (274)	(281)
Fair Value	46,057	70,469
12 months or longer in a continuous unrealized loss position
Gross Unrealized Holding Loss	(390)	(1,448)
Fair Value	$ 23,887	50,102
U.S. Government securities
Less than 12 months in a continuous unrealized loss position
Gross Unrealized Holding Loss		(265)
Fair Value		51,075
12 months or longer in a continuous unrealized loss position
Gross Unrealized Holding Loss		(159)
Fair Value		$ 7,442

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Estimated Fair Value Liability Component (Details) - Level 2 - Convertible Debt - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 2,282,751	$ 2,279,640
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	1,941,295	2,508,036
2021 Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	991,054	989,629
2021 Notes | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	758,800	863,300
2020 Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	645,326	644,431
2020 Notes | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	519,870	646,230
2019 Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	646,371	645,536
2019 Notes | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	662,625	998,361
2018 Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	0	44
2018 Notes | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 0	$ 145

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Vendor accruals	$ 94,075	$ 127,791
Pass-through marketplace tax collection obligation	92,229	129,591
Employee compensation-related liabilities	68,425	63,718
Taxes payable	17,244	10,134
Total accrued expenses	$ 271,973	$ 331,234

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2021	Aug. 31, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Long-term debt, net	$ 2,282,751,000		$ 2,279,640,000
Convertible Debt
Debt Instrument [Line Items]
Principal	2,299,887,000		2,299,976,000
Unamortized debt issuance costs	17,136,000		20,336,000
Long-term debt, net	2,282,751,000		2,279,640,000
2021 Notes | Convertible Debt
Debt Instrument [Line Items]
Principal	1,000,000,000		1,000,000,000	$ 1,000,000,000
Unamortized debt issuance costs	8,946,000		10,371,000
Long-term debt, net	991,054,000		989,629,000
2020 Notes | Convertible Debt
Debt Instrument [Line Items]
Principal	650,000,000		650,000,000		$ 650,000,000
Unamortized debt issuance costs	4,674,000		5,569,000
Long-term debt, net	645,326,000		644,431,000
2019 Notes | Convertible Debt
Debt Instrument [Line Items]
Principal, net of conversion notices	649,887,000		649,932,000			$ 649,900,000
Unamortized debt issuance costs	3,516,000		4,396,000
Long-term debt, net	646,371,000		645,536,000
2018 Notes | Convertible Debt
Debt Instrument [Line Items]
Principal, net of conversion notices	0	$ 44,000	44,000
Unamortized debt issuance costs	0		0
Long-term debt, net	$ 0		$ 44,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Convertible Notes (Details) - Convertible Debt	1 Months Ended
	Jun. 30, 2021 $ / shares	Aug. 31, 2020 $ / shares	Sep. 30, 2019 $ / shares	Mar. 31, 2018 $ / shares	Sep. 30, 2023
2021 Notes
Debt Instrument [Line Items]
Conversion ratio	0.0040518
Conversion price (in dollars per share)	$ 246.80
Annual effective interest rate					0.40%
2020 Notes
Debt Instrument [Line Items]
Conversion ratio		0.0050007
Conversion price (in dollars per share)		$ 199.97
Annual effective interest rate					0.30%
2019 Notes
Debt Instrument [Line Items]
Conversion ratio			0.0114040
Conversion price (in dollars per share)			$ 87.69
Annual effective interest rate					0.30%
2018 Notes
Debt Instrument [Line Items]
Conversion ratio				0.0275691
Conversion price (in dollars per share)				$ 36.27
Annual effective interest rate					0%

Debt - Terms of the Notes (Deta

Debt - Terms of the Notes (Details) - Convertible Debt - day	1 Months Ended	9 Months Ended
	Jun. 30, 2021	Sep. 30, 2023
Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold percentage of stock price trigger		130%
Threshold trading days		20
Threshold consecutive trading days		30
2021 Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	130%
Threshold trading days	20
Threshold consecutive trading days	30
2021 Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price percent	100%

Debt - Schedule of Interest Exp

Debt - Schedule of Interest Expense (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Non-cash interest expense	$ 2,099	$ 2,099	$ 6,294	$ 6,294
2021 Notes
Debt Instrument [Line Items]
Non-cash interest expense	1,100	1,100	3,300	3,300
2020 Notes
Debt Instrument [Line Items]
Non-cash interest expense	502	502	1,505	1,505
2019 Notes
Debt Instrument [Line Items]
Non-cash interest expense	$ 497	$ 497	$ 1,489	$ 1,489

Debt - Schedule of Capped Call

Debt - Schedule of Capped Call Transactions (Details) - $ / shares	Mar. 01, 2023	Jun. 08, 2021	Aug. 19, 2020	Sep. 18, 2019	Aug. 31, 2020	Sep. 30, 2019
2021 Capped Call Transactions | Convertible Debt
Line of Credit Facility [Line Items]
Transaction price cap (in dollars per share)		$ 340.42
Cap premium percentage over reported sales price		100%
2020 Capped Call Transactions | Convertible Debt
Line of Credit Facility [Line Items]
Transaction price cap (in dollars per share)					$ 327.83
Cap premium percentage over reported sales price			150%
2019 Capped Call Transactions | Convertible Debt
Line of Credit Facility [Line Items]
Transaction price cap (in dollars per share)						$ 148.63
Cap premium percentage over reported sales price				150%
2018 Capped Call Transactions
Line of Credit Facility [Line Items]
Settlement of capped call (in shares)	1,194,006

Debt - 2023 Credit Agreement (D

Debt - 2023 Credit Agreement (Details) - Credit Agreement - USD ($)	Mar. 24, 2023	Sep. 30, 2023
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 400,000,000
Maximum unrestricted cash	$ 100,000,000
Line of credit facility, amount outstanding		$ 0
Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Commitment fee amount	0.20%
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Commitment fee amount	0.35%
Revolving Credit Facility | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | One-Month Adjusted Term SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1%
Revolving Credit Facility | One-Month Adjusted Term SOFR Plus 1% | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | One-Month Adjusted Term SOFR Plus 1% | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility | Adjusted Term SOFR, Adjusted | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | Adjusted Term SOFR, Adjusted | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 60,000,000
Line of credit facility, current borrowing capacity	200,000,000
Bridge Loan
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 20,000,000
Standby Letters of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity		$ 5,300,000

Stockholders_ Deficit - Narrati

Stockholders’ Deficit - Narrative (Details) - USD ($)	Mar. 01, 2023	Jun. 14, 2023	May 03, 2022
Class of Stock [Line Items]
Stock repurchase program, authorized amount		$ 1,000,000,000	$ 600,000,000
2018 Capped Call Transactions
Class of Stock [Line Items]
Settlement of capped call (in shares)	1,194,006

Stockholders_ Deficit - Summary

Stockholders’ Deficit - Summary of Activity of Shares Repurchases (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Jun. 14, 2023	Dec. 31, 2022	May 03, 2022
Equity [Abstract]
Shares Repurchased (in shares)	3,915,279	411,421	1,205,151	5,531,851
Average Price Paid per Share (in dollars per share)	$ 75.84	$ 94.44	$ 122.96	$ 87.49
Stock repurchased and retired during period, value, including broker fees	$ 297,009,000	$ 38,863,000	$ 148,199,000	$ 484,071,000
Remaining Amount Authorized	$ 817,360,000			$ 817,360,000		$ 301,431,000
Stock repurchase program, authorized amount					$ 1,000,000,000		$ 600,000,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions		9 Months Ended
	Jan. 02, 2023	Sep. 30, 2023
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation		$ 716.2
Total unrecognized compensation, period of recognition (in years)		2 years 8 months 15 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation, period of recognition (in years)		1 year 3 months 29 days
Total unrecognized compensation		$ 7
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of additional shares issued annually (in shares)	6,252,714
Number of shares authorized (in shares)		56,644,564
Number of shares available for grant (in shares)		36,635,644

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Unvested RSUs (Details) - RSUs	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Beginning balance, Unvested (in shares) | shares	6,393,786
Granted (in shares) | shares	3,141,836
Vested (in shares) | shares	(1,345,482)
Forfeited/Cancelled (in shares) | shares	(746,529)
Ending balance, Unvested (in shares) | shares	7,443,611
Weighted-Average Grant Date Fair Value
Beginning balance, Unvested (in dollars per share) | $ / shares	$ 128.37
Granted (in dollars per share) | $ / shares	105.55
Vested (in dollars per share) | $ / shares	116.45
Forfeited/Cancelled (in dollars per share) | $ / shares	137.78
Ending balance, Unvested (in dollars per share) | $ / shares	$ 120

Stock-Based Compensation - Allo

Stock-Based Compensation - Allocated Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 70,118	$ 52,905	$ 216,082	$ 166,533
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	8,105	6,089	23,522	16,545
Marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	5,763	5,083	17,132	14,552
Product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	37,842	34,106	112,771	88,656
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 18,408	$ 7,627	$ 62,657	$ 46,780