Intershop Communications AG, 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 turnaround was achieved despite a decline in total revenues to EUR 15.8 million from EUR 17.2 million, as the company successfully implemented cost-cutting measures and saw robust growth in its cloud business.
The cloud segment emerged as a key driver, with cloud revenues rising 4% to EUR 10.5 million, representing 67% of total revenues compared to 59% a year earlier. Incoming cloud orders surged 26% to EUR 8.4 million, signaling increased customer willingness to invest. Cloud ARR (annual recurring revenues) stood at EUR 19.8 million, while new ARR grew 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. The second quarter showed improvement with slightly positive net new ARR of EUR 0.2 million.
Service revenues declined 14% to EUR 3.2 million as expected under the company’s partner-first strategy, but the service margin improved following the successful acceptance of a major project. License and maintenance revenues fell 40% to EUR 2.0 million, reflecting the strategic shift toward cloud offerings. Gross profit increased 1% to EUR 7.7 million, with gross margin expanding five percentage points to 49%. Operating expenses dropped 11% to EUR 7.5 million, contributing to the positive EBIT.
Cash flow from operating activities improved significantly to EUR 4.3 million from EUR 1.9 million, and cash and cash equivalents rose to EUR 11.1 million. Equity remained stable at EUR 12.0 million, with an equity ratio of 35%.
CEO Markus Dranert attributed the results to disciplined cost management and early signs of recovery in customer investment. He highlighted the Spring 2026 Release launched in May, which integrates AI-powered agents and copilots to help B2B companies achieve cost savings and ease adoption of agentic commerce. “We therefore believe Intershop is well positioned to benefit from the market shift toward agentic commerce,” Dranert said.
Despite macroeconomic headwinds, Intershop confirmed its full-year forecast for 2026, expecting incoming cloud orders and net new ARR at the previous year’s level, a slightly smaller revenue decline than in 2025, and a balanced EBIT. The interim report is available at Intershop Financial Reports.
The results underscore Intershop’s successful transition to a cloud-first model, with increasing recurring revenues and improved profitability amid a challenging market environment. The strong cash flow generation and solid balance sheet provide a foundation for continued investment in AI-driven commerce solutions.
