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Intershop Holding (ISN) investor relations material

Intershop Holding Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary22 Oct, 2025

Executive summary

  • Revenue for the first nine months of 2025 declined 15% year-over-year to EUR 25.2 million, mainly due to weak new customer business and a planned decline in the service segment.

  • Cloud segment earnings remained stable at EUR 15.3 million, but new customer momentum was subdued amid a challenging macroeconomic environment.

  • A successful capital increase in Q3 2025 raised EUR 4.4 million, expanding strategic flexibility and supporting investments in cloud, AI, and sales activities.

  • Cost-cutting measures were intensified, and a key management transition occurred with the CEO stepping down in August 2025.

Financial highlights

  • EBIT for the nine-month period was EUR -1.4 million, down from EUR 0.6 million in the prior year.

  • EBITDA dropped 64% year-over-year to EUR 1.1 million, with an EBITDA margin of 4% (prior year: 10%).

  • Net result was EUR -1.7 million, with earnings per share at EUR -0.12 (prior year: EUR 0.02).

  • Gross margin was 46%, down one percentage point from the previous year.

  • Cash and cash equivalents stood at EUR 8.2 million at quarter-end.

Outlook and guidance

  • Revenue for full-year 2025 is expected to decline by 10% to 15%, with a negative EBIT in the lower single-digit million euro range.

  • Incoming cloud orders are projected to decrease slightly, and net new ARR is expected between EUR 1.0 million and EUR 2.0 million.

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Frequently asked questions

Intershop Holding AG is a Swiss real estate company focused on the acquisition, development, and management of commercial and residential properties. The company’s portfolio includes office buildings, retail spaces, industrial properties, and mixed-use developments located primarily in key urban areas across Switzerland. Intershop specializes in enhancing property value through strategic renovation, repositioning, and leasing activities, serving a broad spectrum of tenants. Additionally, the company engages in selective property sales and acquisitions to optimize its asset base and adapt to market conditions. The company is headquartered in Zurich, Switzerland, and its shares are listed on the SIX.

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