Intershop Communications AG, a global provider of agentic B2B commerce solutions, reported revenues of EUR 15.8 million for the first half of 2026, down from EUR 17.2 million in the prior year. Despite the decline, the company recorded a slightly positive operating result (EBIT) of EUR 0.1 million, compared to a loss of EUR 0.9 million in the same period last year, thanks to consistent cost-cutting measures.
Cloud revenues rose 4% to EUR 10.5 million, representing 67% of total revenues (up from 59%). The cloud margin improved to 66% from 64%. Incoming cloud orders surged 26% to EUR 8.4 million, signaling growing customer investment. Cloud ARR stood at EUR 19.8 million, while new ARR increased 10% to EUR 1.4 million. Net new ARR was negative at EUR -0.4 million, largely due to non-renewed contracts in the first quarter, but turned slightly positive in Q2 at EUR 0.2 million.
Service revenues declined 14% to EUR 3.2 million as part of 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, in line with the cloud focus. Gross profit increased 1% to EUR 7.7 million, with gross margin expanding five percentage points to 49%.
Total expenses dropped 14% to EUR 15.6 million, reflecting an 11% reduction in operating expenses. EBITDA rose to EUR 1.8 million from EUR 0.7 million. Earnings after taxes were nearly break-even at EUR -54 thousand, versus a loss of EUR 1.1 million previously. Cash flow from operating activities improved significantly to EUR 4.3 million, and cash and cash equivalents increased to EUR 11.1 million.
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. Our Spring 2026 Release, launched in May, makes it easier for B2B companies to get started with AI and helps our customers achieve cost savings in their e-commerce departments through pre-integrated agents and copilots. We therefore believe Intershop is well positioned to benefit from the market shift toward agentic commerce.”
Intershop confirmed its forecast for the full year 2026, expecting incoming cloud orders and net new ARR at the prior year’s level, a slightly smaller revenue decline, and a balanced EBIT. The interim report is available at https://www.intershop.com/financial-reports.
