Intershop Communications AG (ISIN: DE000A254211), a global provider of agentic B2B commerce solutions, published its figures for the first half of the financial year 2026, showing a slightly positive operating result despite a decline in total revenues. The company reported revenues of EUR 15.8 million, down from EUR 17.2 million in the same period last year, primarily due to a planned decline in license, maintenance, and service revenues as the company shifts focus to its cloud business.
Cloud revenues rose by 4% to EUR 10.5 million, representing 67% of total revenues compared to 59% in the previous year. The cloud margin improved to 66%, while incoming cloud orders surged by 26% to EUR 8.4 million. Cloud ARR stood at EUR 19.8 million, with new ARR increasing by 10% to EUR 1.4 million. However, net new ARR was negative at EUR -0.4 million, mainly due to non-renewed customer contracts in the first quarter. The second quarter saw a recovery with slightly positive net new ARR of EUR 0.2 million.
Service revenues declined by 14% to EUR 3.2 million as part of the partner-first strategy, while license and maintenance revenues fell by 40% to EUR 2.0 million. Gross profit increased by 1% to EUR 7.7 million, and the gross margin rose by five percentage points to 49%. Operating expenses decreased by 11% to EUR 7.5 million, contributing to an EBITDA of EUR 1.8 million (previous year: EUR 0.7 million) and an EBIT of EUR 0.1 million, compared to a loss of EUR -0.9 million last year.
Markus Dranert, CEO of Intershop Communications AG, said: “Our consistent cost discipline paid off in the first half of 2026, and we are on track to meet our full-year target for the operating result. There are early signs that customers are more willing to invest: 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, even though new customer business remains subdued given the persistently challenging macroeconomic market environment. Our Spring 2026 Release makes it easier for B2B companies to get started with AI and helps our customers achieve cost savings through pre-integrated agents and copilots.”
Cash flow from operating activities improved significantly to EUR 4.3 million (previous year: EUR 1.9 million), and cash and cash equivalents increased to EUR 11.1 million. The equity ratio remained stable at 35%. Based on the first-half performance, Intershop confirmed its forecast for the full year 2026, expecting incoming cloud orders and net new ARR at the previous year’s level, a slight decline in revenues, and a balanced operating result (EBIT).
The interim report for the first half of 2026 is available at https://www.intershop.com/financial-reports.
