Intershop Communications AG (ISIN: DE000A254211), a global provider of agentic B2B commerce solutions, reported its financial results for the first half of 2026, highlighting a slight positive operating result (EBIT) of EUR 0.1 million, a significant improvement from a loss of EUR 0.9 million in the prior year. The company's revenues decreased to EUR 15.8 million from EUR 17.2 million, primarily due to a planned decline in license, maintenance, and service revenues, while cloud revenues grew 4% to EUR 10.5 million.
Incoming cloud orders surged 26% to EUR 8.4 million, signaling increased customer investment willingness. Cloud ARR stood at EUR 19.8 million, with new ARR up 10% to EUR 1.4 million. However, net new ARR was negative at EUR -0.4 million due to non-renewed contracts in Q1, but turned slightly positive in Q2 at EUR 0.2 million. The cloud margin improved to 66% from 64%, and the cloud revenue share rose to 67% of total revenues.
Service revenues declined 14% to EUR 3.2 million as expected under the partner-first strategy, while the service margin improved after a major project acceptance. License and maintenance revenues fell 40% to EUR 2.0 million. Gross profit increased 1% to EUR 7.7 million, with gross margin expanding to 49% from 44%. Operating expenses decreased 11% to EUR 7.5 million, leading to total expense reduction of 14% to EUR 15.6 million.
EBITDA rose to EUR 1.8 million from EUR 0.7 million. Cash flow from operating activities improved significantly to EUR 4.3 million, and cash and cash equivalents increased by EUR 2.3 million to EUR 11.1 million. The equity ratio stood at 35%, unchanged from year-end 2025.
CEO Markus Dranert commented: "Our consistent cost discipline paid off, and we are on track to meet our full-year target for the operating result. Early signs show customers are more willing to invest, with incoming cloud orders up 26%. The Spring 2026 Release, launched in May, makes it easier for B2B companies to get started with AI, helping customers achieve cost savings through pre-integrated agents and copilots."
Intershop confirmed its full-year 2026 forecast, expecting incoming cloud orders and net new ARR at previous year's levels, a slightly smaller revenue decline, and a balanced EBIT. The interim report for H1 2026 is available at https://www.intershop.com/financial-reports.
