D 
D-MARKET Electronic Services & Trading ADR HEPS · USD
Consumer Discretionary · US listing · 🇺🇸 United States
2.76
+0.73%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$1.77bn
FY2018FY2025
Net income
−$119.2m
FY2018FY2025
Free cash flow
$45.7m
FY2018FY2025
Shareholders' equity
$42.1m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.77bn | $1.19bn | $743.5m | $799.3m | $518.4m | $317.2m | $54.4m | $40.9m |
| Research and development | — | $15.5m | $19.4m | $8.0m | $4.8m | $1.6m | $456,704 | $430,319 |
| Operating income | −$18.9m | $354,603 | $22.9m | −$154.3m | −$141.7m | −$12.5m | $2.1m | −$1.1m |
| Net income | −$119.2m | −$33.6m | $1.6m | −$144.6m | −$69.6m | −$19.6m | −$2.8m | −$3.4m |
| Diluted earnings per share | -0.39 | -0.10 | 0.00 | -0.44 | -0.21 | -0.07 | -0.01 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $772.5m | $546.7m | $530.7m | $346.9m | $279.9m | $41.1m | $20.0m | $13.4m |
| Cash and short-term investments | $278.6m | $191.0m | $218.0m | $182.0m | $170.8m | $12.4m | $5.9m | $2.9m |
| Total liabilities | $730.5m | $477.2m | $431.0m | $276.5m | $179.3m | $57.5m | $26.5m | $20.9m |
| Debt | $34.4m | $34.5m | $10.3m | $6.1m | $10.4m | $8.3m | $948,117 | $3.1m |
| Shareholders' equity | $42.1m | $69.5m | $99.7m | $70.4m | $100.6m | −$16.5m | −$6.5m | −$7.5m |
| Shares outstanding | 308m | 326m | 327m | 325m | 324m | 279m | 326m | 326m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $100.5m | $381,531 | $2.1m | −$535,327 | −$1.0m | $496,903 | $7.6m | $3.5m |
| Capital spending | −$54.8m | −$1.3m | −$1.0m | −$1.1m | −$125,535 | −$82,518 | −$1.1m | −$1.0m |
| Free cash flow | $45.7m | −$897,458 | $1.1m | −$1.6m | −$1.1m | $414,385 | $6.5m | $2.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $477.0m | $483.8m | $634.3m | $416.5m | $350.1m | $300.8m | $427.3m | $256.0m |
| Operating income | −$14.0m | $21.5m | $5.8m | −$12.3m | $712,029 | −$11.5m | $4.2m | $677,257 |
| Net income | −$39.5m | −$20.7m | −$66.7m | −$27.7m | −$15.1m | −$7.4m | −$15.1m | −$6.4m |
| Diluted earnings per share | -0.11 | -0.06 | -0.22 | -0.09 | -0.05 | -0.02 | -0.05 | -0.02 |
| Cash from operations | — | −$49.0m | $30.0m | — | $80.0m | — | $48.0m | — |
| Capital spending | −$16.0m | −$15.0m | −$15.0m | — | −$10.0m | — | −$14.0m | — |
| Free cash flow | — | −$64.0m | $15.0m | — | $70.0m | — | $34.0m | — |
| Total assets | $692.1m | $677.2m | $772.5m | $685.6m | $610.0m | $551.5m | $715.6m | $511.8m |
| Cash and short-term investments | $189.0m | $205.8m | $278.6m | $194.8m | $186.2m | $152.5m | — | $170.0m |
| Debt | $31.5m | $34.7m | $34.4m | $42.1m | $37.0m | $42.5m | — | $22.0m |
| Shareholders' equity | −$12.2m | $25.5m | $42.1m | $18.0m | $59.5m | $69.9m | $90.9m | $76.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 26.1% | 37.7% | — |
| Operating income | -50.4% | 8.6% | — |
| Net income | -6.3% | 43.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -0.6% | -3.3% | -5.7% | — |
| Net margin | -5.2% | -6.6% | -7.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -6.4 | -29.4 | 372.5 | -1.5 | -8.9 |
| Price to sales | 0.5 | 0.9 | 0.8 | 0.3 | 1.2 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | -28% | 116% | 125% | -65% | -77% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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