Terminal X Online (TRX) investor relations material

Executive summary

• Revenue for H1 2026 grew 21.7% year-over-year to ₪299.96 million, driven by increased visits, transactions, and active customers, as well as the consolidation of new brands.

• Net profit for H1 2026 was ₪21.6 million, up 62.7% from H1 2025, with net margin rising to 7.2%.

• The group operates two main segments: Terminal X (multi-brand e-commerce) and Independent Brands (mono-brand e-commerce and physical stores).

• Significant events included the acquisition of 51% of Sde Bar Romant, dividend distributions, and the end of the Retailors e-commerce agreement.

Financial highlights

• Gross profit for H1 2026 was ₪147.7 million (49.2% margin), up from ₪118.3 million (48.0%) in H1 2025.

• Operating profit before share-based payments rose to ₪32.3 million (10.8% margin) from ₪20.7 million (8.4%) year-over-year.

• Adjusted EBITDA for H1 2026 was ₪40.1 million, up from ₪28.0 million in H1 2025.

• Cash flow from operations in H1 2026 was ₪23.0 million, compared to ₪4.6 million in H1 2025.

Outlook and guidance

• The company continues to pursue portfolio expansion through acquisitions and partnerships, focusing on high-growth brands and synergies in Israeli e-commerce.

• Management expects continued growth from the integration of new brands and operational improvements.