Bike24 (BIKE) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue rose 22% year-over-year to EUR 70.7 million, driven by broad-based growth across markets and categories.

• Adjusted EBITDA increased to EUR 1.8 million, up EUR 1.2 million from last year, with margin improving to 2.5% from 1.0%.

• Net loss narrowed to EUR -2.2 million from EUR -4.2 million in Q1 2025.

• Inventory increased 22% year-over-year to EUR 80.8 million, supporting product availability and future growth.

• Active customers rose 24.5% to 1.18 million, with average order value stable at EUR 146.

Financial highlights

• DACH/core region revenue grew 21% to EUR 47 million; localized markets up 30% to EUR 17.5 million.

• PAC (parts, accessories, clothing) revenue increased 21% to EUR 58.4 million; bike revenue up 27% to EUR 12.4 million.

• Gross profit rose to EUR 18 million, with gross margin improving to 25.5%.

• Adjusted EBITDA margin increased to 2.5% from 1.0% year-over-year.

• Free cash flow was EUR 0.5 million, down from EUR 4.1 million in the prior year.

Outlook and guidance

• Full-year 2026 revenue guidance is EUR 318–332 million, with adjusted EBITDA expected at EUR 16–20 million.

• April 2026 figures show continued double-digit revenue growth.

• Management maintains guidance despite geopolitical and macroeconomic uncertainties.

• Focus remains on sustaining double-digit growth and improving profitability.