Etsy (ETSY) Q4-25 earnings: The $1.2B Depop reset & the end of the US hangover

Etsy is unwinding its pandemic-era empire by selling Depop for $1.2 billion in Q4 2025, betting that shrinking the business is the only way to save its margins.In ~10 minutes:- Why shedding Depop instantly recovers 350 basis points of EBITDA margin.- U.S. buyer growth turns positive for the first time in four years.- The massive stock reversal that hit exactly as the earnings call began.- How AI "agentic" shopping bots are successfully reactivating Etsy's lapsed buyers.Just 50 days into the job, new CEO Kruti Patel Goyal is officially hitting the reset button. By ditching the multi-brand strategy to focus entirely on the core app and navigating the tricky new world of AI search referrals, Etsy is trading expensive growth illusions for absolute capital discipline.Etsy Inc. (ETSY) | Q4 FY2025AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.