Intershop Reports Strong Cloud Growth and Improved Profitability in H1 2026

Intershop Communications AG, a global provider of agentic B2B commerce solutions, reported financial results for the first half of 2026, highlighting a 26% increase in incoming cloud orders to EUR 8.4 million and a slightly positive EBIT of EUR 0.1 million. The company's cloud revenues grew 4% to EUR 10.5 million, representing 67% of total revenues, up from 59% in the prior year. The cloud margin improved to 66% from 64%.

Total revenues for the period were EUR 15.8 million, down from EUR 17.2 million in H1 2025, driven by planned declines in license, maintenance, and service revenues. Service revenues fell 14% to EUR 3.2 million as part of the partner-first strategy, while license and maintenance revenues dropped 40% to EUR 2.0 million. Despite the top-line decline, gross profit rose 1% to EUR 7.7 million, and gross margin expanded five percentage points to 49%, reflecting a lower cost base.

Operating expenses decreased 11% to EUR 7.5 million, contributing to a significant improvement in profitability. EBITDA rose to EUR 1.8 million from EUR 0.7 million, and EBIT turned positive at EUR 0.1 million compared to a loss of EUR 0.9 million in the prior year. Net loss narrowed to EUR 54 thousand from EUR 1.1 million, with earnings per share at EUR 0.00 versus EUR -0.08.

Cash flow from operating activities increased substantially to EUR 4.3 million from EUR 1.9 million, and cash and cash equivalents grew to EUR 11.1 million as of June 30, 2026, up from EUR 8.8 million at year-end 2025. The equity ratio remained stable at 35%.

CEO Markus Dranert attributed the improved performance to consistent cost discipline and early signs of customer investment recovery. “Incoming cloud orders rose by 26% to EUR 8.4 million. Net new ARR were also slightly positive again in the second quarter, as announced. This means that the recovery is becoming more substantial,” Dranert said. He noted that the Spring 2026 Release, launched in May, helps B2B companies adopt AI and achieve cost savings through pre-integrated agents and copilots, positioning Intershop to benefit from the shift toward agentic commerce.

Cloud ARR stood at EUR 19.8 million, compared to EUR 20.1 million in the prior year, while new ARR increased 10% to EUR 1.4 million. Net new ARR was negative EUR 0.4 million for the half, primarily due to non-renewed contracts in Q1, but turned slightly positive at EUR 0.2 million in Q2. The company confirmed its full-year 2026 forecast, expecting incoming cloud orders and net new ARR at previous year's levels, a slight revenue decline, and a balanced EBIT.

The interim report for the first half of 2026 is available at https://www.intershop.com/financial-reports.