NASDAQ$HEPS
D-Market Elektronik Hizmetler Ve Ticaret As · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
Hepsiburada reported Q3 2025 revenue of TRY 19.9B, up 22.1% year over year.
Revenue increased 22.1% to TRY 19.9 billion with marketplace and 1P growth. Net loss widened to TRY 1.32 billion as marketing and fulfillment investments continued while gross contribution margin expanded 55 bps.
- Q3 revenue TRY 19.9B (+22.1% YoY).
- Marketplace and delivery service revenue growth.
- Net loss TRY 1.32B vs TRY 410M prior year.
- Active customers and order frequency increased.
Headline financials
Revenue & EPS history
D-Market · Revenue · Quarterly
₺19.9B
Revenue by segment
D-Market · ₺13.3B total across 3 segments · Q1 2025
- 1P Sale of goods₺9.18B—69.2%
- Delivery service revenue₺2.33B—17.5%
- 3P Marketplace revenue₺1.76B—13.3%
Forward guidance
The filing discusses D-MARKET (Hepsiburada)'s outlook, capital deployment, and key risks without relying solely on numeric EPS guidance.
Tailwinds
- D-MARKET (Hepsiburada) cited execution on strategic priorities in the filing.
- Balance sheet and liquidity support continued operations.
Headwinds
- GAAP profitability remained under pressure in the quarter.
- Macro, competitive, and cost pressures may affect margins.
- Segment mix and one-time items can affect comparability.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q3 2025
-1.5%
Avg return
Earnings day
+0.4%
Avg return
5 days after
-0.3%
Avg return
30 days after
38%
6 / 16 earnings
Positive
+34.4%
Q4 2022
Best reaction
-23.4%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -3.3% | +0.0% | +1.8% | |
| Q3 2025 | -0.8% | -1.3% | +3.0% | |
| Q1 2025 | +3.3% | +11.6% | +6.8% | |
| Q3 2024 | -8.0% | -2.4% | -4.0% | |
| Q1 2024 | -13.8% | -14.7% | +44.6% | |
| Q4 2023 | -10.2% | -15.3% | -22.0% | |
| Q3 2023 | +10.3% | +20.0% | +17.9% | |
| Q2 2023 | -3.3% | -6.7% | +9.2% | |
| Q1 2023 | +4.0% | +12.0% | +69.0% | |
| Q4 2022 | +34.4% | +46.7% | +18.7% | |
| Q3 2022 | -5.8% | -6.8% | -5.7% | |
| Q2 2022 | +8.9% | +6.8% | -12.7% | |
| Q1 2022 | -10.4% | -19.4% | -53.7% | |
| Q4 2021 | +3.6% | +16.8% | +1.0% | |
| Q3 2021 | -9.5% | -14.6% | -35.1% | |
| Q2 2021 | -23.4% | -27.3% | -43.6% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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