Highlights Q1-2026 Icecat N.V.:• User registrations nearly doubled (+93%), signaling strong platform adoption• AI-driven efficiency pushes data-sheet production up 117% without added resources• Profitability rises to 29% as EBITDA and EBT grow by 13%
Icecat reported a sharp increase in platform usage in the first quarter of 2026, even as revenue growth remained modest, according to its latest interim report.
The most notable development was the acceleration in user activity. New registrations rose by 93% year-on-year, while monthly active users (MAU) increased by 16%. Engagement among brand users grew even faster, with a 23% rise in MAU. At the same time, Icecat more than doubled its product data-sheet production, achieving a 117% increase without expanding its resource base.
These figures point to growing adoption of Icecat’s platform and early returns on its investments in AI and automation, which are enabling the company to scale output efficiently.
Financial performance showed steady, if slower, progress. Revenue increased by 2% to €3.86 million, while gross profit also rose by 2%. Operating expenses declined by 2%, contributing to a 13% increase in EBITDA to €1.1 million. Profit before tax (EBT) similarly rose by 13%, with profitability improving to 29%, up from 27% a year earlier.
The company attributed the relatively modest revenue growth to ongoing global economic uncertainties, including trade tensions and geopolitical developments. However, order intake grew faster, up 6% year-to-date, indicating a potential recovery in demand.
Icecat said it continues to invest in its transition toward an AI-first operating model, with new solutions already introduced, including AI workflow support and tools for agentic commerce. The company expects these developments to further enhance efficiency and drive future growth.
A notable commercial milestone during the quarter was the selection of Icecat by global distributor Ingram Micro, strengthening its position in the international technology supply chain.
Overall, the quarter reflects a company building momentum in usage and operational efficiency, while laying the groundwork for stronger revenue growth in the periods ahead.
See the full Q1-2026 report (pdf).
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