Intershop Communications AG, a global provider of agentic B2B commerce solutions for manufacturers, wholesalers, and holding companies, published its financial results for the first half of 2026, highlighting a 26% surge in incoming cloud orders to EUR 8.4 million and a slightly positive operating result (EBIT) of EUR 0.1 million, despite a decline in total revenues to EUR 15.8 million from EUR 17.2 million in the prior-year period.
The company's cloud business continued to be a growth driver, with cloud revenues rising 4% to EUR 10.5 million, representing 67% of total revenues compared to 59% a year earlier. The cloud margin improved to 66% from 64%. Incoming cloud orders increased significantly, while cloud annual recurring revenues (ARR) stood at EUR 19.8 million, slightly down from EUR 20.1 million. New ARR rose 10% to EUR 1.4 million, but net new ARR was negative at EUR -0.4 million due to non-renewed contracts in the first quarter. However, the second quarter showed improvement with slightly positive net new ARR of EUR 0.2 million.
As expected, service revenues declined 14% to EUR 3.2 million as part of the partner-first strategy, while license and maintenance revenues fell 40% to EUR 2.0 million due to the focus on cloud. Despite lower revenues, gross profit increased 1% to EUR 7.7 million, and gross margin expanded by five percentage points to 49%. Operating expenses decreased 11% to EUR 7.5 million, contributing to an improved bottom line.
EBITDA rose to EUR 1.8 million from EUR 0.7 million, and EBIT turned positive at EUR 0.1 million versus a loss of EUR 0.9 million in the prior year. Earnings after taxes were nearly break-even at EUR -54 thousand, with earnings per share of EUR 0.00. Cash flow from operating activities more than doubled to EUR 4.3 million, and cash and cash equivalents increased to EUR 11.1 million.
Markus Dranert, CEO of Intershop Communications AG, attributed the results to consistent cost discipline and early signs of increased customer investment. “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,” Dranert said. He also highlighted the Spring 2026 Release, which integrates AI and agentic commerce capabilities to help B2B companies achieve cost savings.
Equity remained stable at EUR 12.0 million, with an equity ratio of 35%. Based on the first-half performance, Intershop confirmed its full-year 2026 forecast, expecting incoming cloud orders and net new ARR at the previous year's level, a slight decline in revenues, and a balanced EBIT.
The interim report for the first half of 2026 is available at Intershop Financial Reports.
