Intershop Communications AG (ISIN: DE000A254211), a global provider of agentic B2B commerce solutions, reported a slightly positive operating result (EBIT) of EUR 0.1 million for the first half of 2026, a significant improvement from the EUR -0.9 million loss in the same period last year. The company's revenues declined to EUR 15.8 million from EUR 17.2 million, shaped by growth in cloud business and planned declines in license, maintenance, and service revenues.
Cloud revenues rose by 4% to EUR 10.5 million, increasing their share of total revenues to 67% from 59%. The cloud margin improved by two percentage points to 66%. Incoming cloud orders surged by 26% to EUR 8.4 million, signaling stronger customer investment intentions. Cloud ARR stood at EUR 19.8 million, while new ARR grew by 10% to EUR 1.4 million. Net new ARR was negative at EUR -0.4 million for the half-year, primarily due to non-renewed contracts in the first quarter, but turned slightly positive at EUR 0.2 million in the second quarter.
Service revenues declined by 14% to EUR 3.2 million, as expected under the partner-first strategy, but the service margin improved following successful project acceptance. License and maintenance revenues fell by 40% to EUR 2.0 million, consistent with the focus on cloud. Gross profit rose 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 fell by 14% to EUR 15.6 million.
EBITDA improved to EUR 1.8 million from EUR 0.7 million. Earnings after taxes were nearly break-even at EUR -54 thousand, compared to a loss of EUR 1.1 million in the prior year. Cash flow from operating activities increased significantly to EUR 4.3 million, and cash and cash equivalents rose to EUR 11.1 million as of June 30, 2026, up from EUR 8.8 million at year-end 2025. The equity ratio remained stable at 35%.
CEO Markus Dranert attributed the results to consistent cost discipline and early signs of improved customer willingness to invest. He highlighted the company's Spring 2026 Release, which includes pre-integrated AI agents and copilots to help B2B companies achieve cost savings. Intershop confirmed its full-year 2026 forecast, expecting incoming cloud orders and net new ARR at the previous year's level, a slightly smaller revenue decline, and a balanced EBIT. The interim report is available at Intershop Financial Reports.
