Intershop Communications AG, a global provider of B2B commerce solutions for manufacturing and wholesale sectors, published preliminary figures for the financial year 2025 showing total revenues of EUR 33.3 million, down from EUR 38.8 million in 2024. The company's strategically important cloud business maintained stability with revenues of EUR 20.5 million, matching the previous year's performance while increasing its share of total revenues to 62% from 53%. This stability in the cloud segment occurred alongside a significant 9% increase in incoming cloud orders to EUR 21.7 million, driven primarily by new contracts signed in the fourth quarter.
The company's operating result (EBIT) was EUR -2.8 million, impacted by a complex major project in the service segment that required substantial resources beyond initial projections. Intershop successfully achieved an important operational milestone with the project's acceptance in early February 2026. Service revenues decreased by 29% to EUR 6.3 million, while license and maintenance revenues declined to EUR 6.4 million as the company continues its strategic focus on cloud business development. The partner-first strategy launched in 2024 began showing impact as implementation of new projects increasingly transferred to the partner network.
Gross profit decreased to EUR 14.7 million with the gross margin slipping two percentage points to 44%. Operating expenses decreased slightly by 1% to EUR 17.5 million, though research and development expenses increased 8% to EUR 7.2 million. Sales and marketing expenses declined 15% to EUR 6.3 million, while general administrative expenses decreased 4% to EUR 3.2 million. Other operating expenses rose to EUR 1.3 million and included one-time expenses for personnel reduction measures totaling EUR 0.9 million, expected to drive efficiency improvements and further stabilize the company's cost base. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased from EUR 3.3 million to EUR 0.5 million.
Cloud annual recurring revenues (ARR) remained steady at EUR 20.1 million as of the reporting date, unchanged from the prior year. Net new ARR before currency effects came to EUR 0.6 million, down from EUR 2.7 million in 2024, due to expiring customer contracts in the current financial year. The cloud margin remained stable at 65%, indicating continued efficiency in this core business segment. Markus Dranert, CEO of Intershop Communications AG, stated that the financial year 2025 was defined by operational and structural changes, with the company laying important foundations for future development through technological advancement of its platform into an agentic B2B commerce solution.
The company's total assets amounted to EUR 33.3 million as of December 31, 2025, with the equity ratio rising significantly to 36% from 29% at the end of 2024. This increase was mainly due to a capital increase through a rights issue that raised subscribed capital by EUR 4.4 million to EUR 19.0 million. Cash and cash equivalents stood at EUR 8.8 million, while cash flow from operating activities was EUR -0.3 million, down from EUR 2.1 million the previous year. Worldwide employment decreased to 224 people from 261 at the end of 2024.
As part of the company's strategic development, the Supervisory Board extended the contract of CEO Markus Dranert through March 31, 2029. Frank Fischer, Chairman of the Supervisory Board, noted that the extension focuses on continuity and long-term strategic perspective, with Dranert having played a key role in driving the company's technology toward an agentic B2B commerce platform. For the financial year 2026, Intershop expects incoming cloud orders and net new ARR to remain at the previous year's level, forecasting a slightly lower percentage revenue decline compared to 2025. Thanks to its improved cost base, the company expects a balanced operating result (EBIT). The full consolidated financial statements will be published in mid-March 2026, with all current financials provisional pending completion of the statutory audit.
