Hepsiburada Q2 2025 Financial Results

SEC Filing 6-K (0001104659-25-072508)

Hepsiburada, a leading Turkish e-commerce platform, reported its unaudited financial results for the second quarter of 2025. The company saw an 11.9% increase in Gross Merchandise Value (GMV) to TRY 51.1 billion compared to Q2 2024. Revenue grew by 22.6% to TRY 16,743.8 million, driven by a 25.2% increase in direct sales (1P) and a 4.8% rise in marketplace revenue (3P). EBITDA increased by 41.6% to TRY 739.5 million, with EBITDA as a percentage of GMV improving to 1.4%. However, the company reported a net loss of TRY 723.8 million, up from TRY 519.3 million in Q2 2024, primarily due to higher provision expenses and increased financial costs. Free cash flow improved significantly to an inflow of TRY 3,405.2 million from an outflow of TRY 870.4 million in the same period last year. The company also highlighted its ESG initiatives, including the 'Technology Empowerment for Women Entrepreneurs' program, which has supported approximately 65,000 women entrepreneurs.