Bike24 Holding AG, one of Europe's leading cycling e-commerce platforms, has reported record quarterly revenue of EUR 107.7 million for the third quarter of 2026, marking the first time the Dresden-based company has surpassed the EUR 100 million threshold in a single quarter. Revenue grew 30.0% year-on-year, outpacing the broader market, while adjusted EBITDA rose 13.9% to EUR 6.1 million. The company simultaneously confirmed its revised full-year 2026 forecast, with revenue expected between EUR 345 million and EUR 360 million and adjusted EBITDA of EUR 16 million to EUR 18 million, providing investors with a degree of near-term earnings visibility.

Key Points

  • Bike24 Holding AG (0AAT), listed on the Frankfurt Stock Exchange Prime Standard, is a European cycling e-commerce specialist headquartered in Dresden, Germany
  • Q3 2026 revenue reached a record EUR 107.7 million, up 30.0% year-on-year, with localised markets surging 53.2% to EUR 30.7 million
  • Free cash flow improved 47.1% to EUR 12.0 million in Q3 2026; nine-month revenue totalled EUR 274.5 million, up 24.3%
  • Investors may be watching whether the company can sustain margin levels whilst continuing elevated investment in marketing and market expansion

Bike24 Breaks EUR 100 Million Quarterly Revenue Barrier for the First Time in Q3 2026

Bike24's Q3 2026 performance represents a landmark moment for the company, which offers bikes, parts, accessories and clothing across numerous European markets via localised online shops. Quarterly revenue of EUR 107.7 million compared with EUR 82.8 million in Q3 2025, a 30.0% increase achieved in a market the company describes as remaining challenging. Gross profit rose by EUR 5.5 million, or 24.3%, to EUR 27.8 million, though the gross margin narrowed to 25.8% from 27.0% a year earlier, reflecting market pricing conditions and product mix shifts. The bicycle segment grew 33.7% to EUR 23.8 million, driven notably by sustained demand for gravel and road bikes.

Localised Market Expansion Into Denmark, Slovenia and Ireland Drives 53.2% Regional Revenue Growth

Localised markets were the standout regional performer in Q3 2026, with revenue climbing 53.2% to EUR 30.7 million year-on-year. The company launched online shops in Denmark and Slovenia at the end of June 2026 and added Ireland in July 2026, progressively widening its European footprint. The core DACH market — Germany, Austria and Switzerland — also delivered solid growth of 21.5%, reaching EUR 69.6 million. Other European markets expanded 42.0% to EUR 6.3 million. The announcement states that in Germany, the number of bicycles and e-bikes sold rose 27.5% in Q3 2026, well above the German Bicycle Industry Association's reported average market increase of approximately 5.8% for the first half of 2026.

Active Customer Base Grows to 1.34 Million as Free Cash Flow Rises to EUR 12.0 Million

Customer metrics reinforced the revenue trend. The active customer base, measured over the last twelve months, expanded 22.8% to approximately 1.34 million. Orders in Q3 2026 totalled around 762,000, up 30.5%, while the average order value of EUR 138 was only 1.2% below the prior-year level. The proportion of orders from returning customers remained broadly stable at 70.8%. Free cash flow of EUR 12.0 million represented a 47.1% improvement on the same quarter last year. Cash and cash equivalents stood at EUR 17.5 million at 30 September 2026, with inventories built to EUR 92.7 million ahead of the Black Week trading period.

Full-Year 2026 Guidance Confirmed at EUR 345–360 Million Revenue Despite Competitive Market Conditions

Bike24 confirmed the revised 2026 forecast it had raised on 16 September 2026, targeting revenue of EUR 345 million to EUR 360 million and adjusted EBITDA of EUR 16 million to EUR 18 million, subject to stable consumer spending, supply chain and shipping conditions. For the nine months to 30 September 2026, consolidated revenue reached EUR 274.5 million and adjusted EBITDA totalled EUR 13.7 million. EBIT returned to positive territory at EUR 0.7 million, against EUR -2.2 million in the same period of 2025. Investors may be watching whether margin pressure from elevated marketing expenditure and competitive pricing persists into the seasonally important fourth quarter.