Hepsiburada (ADR)
Combines a marketplace, direct retail, payments, delivery, loyalty, and advertising in Türkiye.
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Profile
Runs a Türkiye-focused e-commerce platform combining a third-party marketplace, first-party direct retail, and supporting services. The marketplace is its core business, while payments, delivery, fulfillment, loyalty, and advertising extend the customer proposition under Kaspi.kz control.
Runs a Türkiye-focused e-commerce platform built around a third-party marketplace, its core business, alongside first-party direct retail. Suppliers sell wholesale merchandise for direct retail, while marketplace merchants list through the platform.
Hepsipay supplies e-money and payment services; Hepsijet handles last-mile delivery; and HepsiAd provides advertising. Hepsiburada Premium, fulfillment, and affordability solutions extend the customer proposition. The loyalty offer sits alongside these services for customers.
The business is concentrated in Türkiye and operates under Kaspi.kz control. The model depends on the marketplace, direct-retail inventory, and its payment, delivery, fulfillment, loyalty, and advertising services working together.
Company facts
Categories
Key statistics
Year to date +3.3% · Average volume (30d) 146.3K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | — | $0.00 | — | $487.3M | $487.3M | 0.0% | −5.14% |
| May 7, 2026Q1 FY26 | — | −$0.06 | — | $518.9M | $518.9M | 0.0% | +1.08% |
| Feb 26, 2026Q4 FY25 | — | −$0.24 | — | $650.1M | $14.6M | −97.8% | −3.64% |
| Nov 5, 2025Q3 FY25 | — | −$0.10 | — | — | $478.0M | — | −2.53% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $298.2M | $347.0M | $412.9M | $628.8M | $479.5M | $472.8M | |
| Gross profit | $110.3M | $131.3M | $153.6M | $215.2M | $176.1M | $178.7M | |
| Operating income | −$11.4M | $705.8K | −$12.2M | $5.7M | −$9.1M | −$13.9M | |
| Net income | −$7.4M | −$15.0M | −$27.5M | −$66.1M | −$20.6M | −$39.2M | |
| Diluted EPS | −$0.02 | −$0.05 | −$0.08 | −$0.21 | −$0.06 | −$0.11 | |
| Gross margin | 37.0% | 37.8% | 37.2% | 34.2% | 36.7% | 37.8% | |
| Operating margin | -3.8% | 0.2% | -3.0% | 0.9% | -1.9% | -2.9% |
Fiscal years (4-quarter sums)FY21 $215.5M · FY22 $594.0M · FY23 $910.1M · FY24 $1.28B · FY25 $1.69B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $187.4M · Total debt $49.1M · Total assets $686.0M · Shareholders' equity −$12.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 317.23M · Float 271.97M · 85.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Joint Stock Company Kaspi.kz | 309.87M | 86.74% | 13D | Jun 10, 2026 |
| VR Advisory Services Ltd | 18.41M | 5.20% | 13G | Jun 18, 2026 |
| VR Global Partners, L.P. | 16.17M | 5.00% | 13G | Dec 2, 2025 |
| BlackRock, Inc. | 2.75M | 0.87% | 13F | May 13, 2026 |
| State Street Corp | 2.34M | 0.74% | 13F | May 15, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Alibaba Group (ADR)
Trendyol overlaps in broad marketplace, logistics and delivery
- Amazon
Broad online retail and seller-platform overlap in Türkiye
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hepsiburada (ADR) | $2.65 | +0.19% | $840.6M | — | — | 0.4 | +16.1% |
| Alibaba Group (ADR) | $118.57 | −0.26% | $284.99B | 27.1 | 18.1 | 1.8 | +14.8% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Median | 24.3 | 23.3 | 2.7 | +17.2% |