Shares of D-MARKET Electronic Services & Trading (NASDAQ: HEPS), operating as Hepsiburada, are surging 5.93% in Wednesday's pre-market session following the release of the company's third-quarter 2025 financial results. The Turkish e-commerce platform delivered robust top-line growth, offsetting concerns about increased losses.
Hepsiburada reported a 22.1% year-over-year increase in revenue, reaching 19,919.8 million Turkish liras for Q3 2025. The company's gross merchandise value (GMV) grew by 8.9% to 61.4 billion Turkish liras, while the number of orders saw a significant 17.6% jump compared to the same period last year. These metrics suggest strong consumer demand and platform growth despite challenging economic conditions in Turkey.
However, the company's bottom line faced pressure, with net loss widening to 1,324.8 million Turkish liras from 409.7 million liras in Q3 2024. EBITDA also decreased by 74.3% to 173.8 million liras. The increased losses were primarily attributed to higher advertising expenses and financial costs. Despite these challenges, investors appear to be focusing on Hepsiburada's market share gains and revenue growth potential, driving the stock higher in early trading.
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