Amsterdam-based Adyen reports H1 2026 net revenue up 19% YoY to €1.3B, processed volumes up 24% YoY to €803.8B, and EBITDA of €641.5M; ADYEN.AS rises 12%+ (Adam Whittaker/Wall Street Journal)

Adyen, the fintech platform, announced stronger-than-anticipated first-half earnings on Thursday, driven by robust payment volumes and continued merchant growth. The company's net revenue for the period reached €1.30 billion, a 19% increase compared to the previous year. Notably, processed volume surged 24% to €803.8 billion, while EBITDA stood at €641.5 million, aligning closely with the S&P Global Visible Alpha consensus estimate of approximately €647.1 million.

Despite the positive results, higher investment expenditure is beginning to impact the margin outlook. Adyen anticipates a 21% to 23% net revenue growth rate for 2026 on a constant-currency basis, including contributions from recent acquisitions such as Talon.One and Orb. Furthermore, the fintech company recently launched Adyen Agentic, which enables enterprises to process payments across AI-agent protocols, and introduced Intelligent Money Movement, a platform that combines payments, liquidity management, and payouts.

Moreover, Adyen expanded its partnership with Toast in the United States and secured new clients such as OpenAI, Aritzia, and Xiaomi.

In terms of capital expenditure, Adyen now anticipates that it will account for around 7% of net revenue in 2026, a marked increase from historical levels. This is primarily due to the company's efforts to secure compute and storage capacity and lock in pricing amid supply-chain constraints. However, Adyen expects the capital expenditure rate to return closer to historical levels after 2026.