Intershop Communications AG reported its financial results for the first half of 2026, highlighting a strategic pivot towards cloud-based services that drove a 26% increase in incoming cloud orders to EUR 8.4 million. The company, which provides agentic B2B commerce solutions, achieved a slightly positive operating result (EBIT) of EUR 0.1 million, a significant improvement from the EUR -0.9 million loss in the same period last year, thanks to rigorous cost-cutting measures.
Total revenues for the period were EUR 15.8 million, down from EUR 17.2 million in the prior year, as the company saw the planned decline in license, maintenance, and service revenues. Cloud revenues grew by 4% to EUR 10.5 million, now accounting for 67% of total revenues, up from 59% a year ago. The cloud margin improved to 66% from 64%, reflecting operational efficiencies. Cloud annual recurring revenues (ARR) stood at EUR 19.8 million, while new ARR rose by 10% to EUR 1.4 million. However, net new ARR was negative at EUR -0.4 million, primarily due to non-renewed contracts in the first quarter, though the second quarter showed slight positivity at EUR 0.2 million.
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. Gross profit increased by 1% to EUR 7.7 million, with gross margin expanding to 49% from 44%. Operating expenses decreased by 11% to EUR 7.5 million, and total expenses declined by 14% to EUR 15.6 million. EBITDA rose to EUR 1.8 million from EUR 0.7 million, and earnings after taxes were nearly break-even at EUR -54 thousand.
CEO Markus Dranert commented: “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.” He added that the Spring 2026 Release, launched in May, enables B2B companies to adopt AI more easily and achieve cost savings through pre-integrated agents and copilots.
As of June 30, 2026, equity stood at EUR 12.0 million, unchanged from year-end 2025, with an equity ratio of 35%. Cash flow from operating activities improved significantly to EUR 4.3 million, and cash and cash equivalents increased to EUR 11.1 million. Intershop confirmed its full-year 2026 forecast, expecting incoming cloud orders and net new ARR at previous year's levels, a smaller percentage decline in revenues, and a balanced EBIT. The interim report is available at https://www.intershop.com/financial-reports.
