Amsterdam · August 13th, 2026
Adyen publishes H1 2026 financial results
Adyen delivers a strong half year, deepening merchant relationships through platform expansion and key strategic milestones
AMSTERDAM, August 13, 2026 — Adyen (AMS: ADYEN) today announces financial results for the half year ending June 30, 2026.
"H1 2026 was a strong and strategically important half year for Adyen. By expanding our role well beyond payments, we execute our long-term strategy and solve deeper structural complexity for our merchants, which fundamentally strengthens our customer relationships,” said Pieter van der Does, Co-founder and Co-CEO.
“Through high-impact milestones — including the strategic acquisitions of Talon.One and Orb, alongside the launches of Adyen Agentic and Intelligent Money Movement — we built the complete financial operating system for modern commerce to position us for sustained, durable growth.”
H1 2026 key metrics
Net revenue was €1,302.9 million, up 19% year-on-year (YoY) (21% on a constant currency basis).
Processed volume was €803.8 billion, up 24% YoY.
EBITDA was €641.5 million, with an EBITDA margin of 49%, or 50% excluding one-time transaction costs.
Free cash flow conversion ratio was 86%, with CapEx at 5% of net revenue.
Business highlights
Closed the Talon.One and Orb acquisitions subsequent to H1, embedding omnichannel loyalty and flexible usage-based billing onto our platform.
Launched Adyen Agentic, enabling enterprise merchants to securely process payments across AI agent protocols.
Introduced Intelligent Money Movement, bringing enterprise payments, liquidity management, and payouts together on a single platform.
Increased customer conversion by 0.9 percentage points on average by the end of H1, through Adyen Uplift and Dynamic Identification.
Rolled out Adyen Personalize, leveraging our unified network dataset to help merchants deliver real-time, tailored shopping experiences.
Expanded global partnership with Toast into the U.S. following success across international markets.
Continued global customer expansion, securing major enterprise wins across high-growth verticals, including Aritzia, OpenAI, and Xiaomi, as well as public sector wins such as GOV.UK Pay.
Secured direct access to France's domestic interbank clearing system, and obtained a Retail Payment Services license from the Central Bank of the UAE to expand localized processing capabilities.
Joined the x402 Foundation and Open Standard, driving open protocols for HTTP payments in agentic commerce and shaping stablecoin infrastructure via OpenUSD for global merchants.
Financial objectives
Net revenue growth:
We expect 2026 net revenue growth of 21% to 23% YoY on a constant currency basis, including the contribution of the acquisitions completed on July 1, 2026.
EBITDA margin:
We continue to expect EBITDA margin above 55% by 2028. In 2026, we expect underlying EBITDA margin to remain in line with 2025; including the acquisitions of Talon.One and Orb, we expect EBITDA margin to land one percentage point lower than 2025.
Capital expenditures:
The majority of our CapEx is invested in data centers. We are proactively pulling investment from 2027 into H2 2026 to secure compute and storage availability, and lock in pricing amid ongoing supply chain challenges. We now expect CapEx to be approximately 7% of net revenue this year. Through this active management, we expect CapEx to return towards historical levels post 2026.
This press release highlights key information and results from Adyen’s H1 2026 earnings. You can find the full H1 2026 financial results and accompanying Shareholder Letter here. Today, at 3pm CEST, we will host our H1 2026 Earnings Call with our Co-founder and Co-CEO, Pieter van der Does, and incoming interim CFO, Hwa Tsao. You can access the livestream here. A recording will be made available shortly thereafter on the same webpage.
About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.
Important Legal Information
This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
The information in this press release and the H1 2026 Shareholder Letter is unaudited. Any person who comes into possession of this document must inform themselves about and comply with any legal restrictions governing possession, distribution, or use of the document.
For further details on the non-IFRS measures included in this press release, refer to the note ‘Non-IFRS financial measures’ to the Financial Statements (note 1.2 to the Interim Condensed Consolidated Financial Statements; note 2.2 to the Consolidated Financial Statements).
Forward-looking statements are not facts and only represent the current views and assumptions of Adyen N.V. (“Adyen”) regarding future events, many of which are by nature inherently uncertain and beyond Adyen’s control. Factors that could cause actual results to deviate materially from those anticipated by forward-looking statements include, but are not limited to, macroeconomic, demographic and political conditions and risks, actions taken and policies applied by governments, financial regulators and private organizations (including payment schemes and credit rating agencies), market conditions and turbulence in financial and other markets, and the success of Adyen in managing the related risks. Subject to statutory obligations, Adyen does not intend to publicly update or revise forward-looking statements to reflect events or circumstances after the date the statements were made, and assumes no obligation to do so.
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