IEVA Group: Revenue Up 145% in First Half, Net Loss Reduced by 92%
IEVA Group published its first-half results on October 14, 2026, a few months after its listing on Euronext Growth Paris in March 2026. Revenue reached €21.8 million, up 145.4%, driven primarily by the consolidation of My Little Paris. The group's net loss was reduced by 92%, to €465 thousand.
The publication also marks a change in revenue composition: subscriptions, which represented 2% of revenue a year earlier, now constitute 56%. Gross cash stood at €14.9 million on June 30, 2026, following a capital increase of €6.4 million linked to the listing, while cash flow from operations remained negative at €-978 thousand.
Revenue Up 145.4%, Organic Growth of 3.9%
Consolidated revenue for the first half of 2026 amounted to €21,803 thousand, compared with €8,884 thousand a year earlier, representing an increase of €12,919 thousand. My Little Paris, consolidated from October 1, 2025, contributed fully to this increase. On a comparable basis, excluding this contribution, organic growth came in at 3.9%.
According to the group, this organic growth was primarily driven by Products, whose sales increased by 11.9% to €4,329 thousand. The press release cites the referencing of Ioma products in 368 Douglas stores in Italy, as well as the development of the Wonderskin brand with several European distributors. Services advanced by 1.3% to €4,190 thousand, and royalties amounted to €674 thousand, compared with €690 thousand.
The Subscriptions segment reached €12,255 thousand, compared with €192 thousand in the first half of 2025, due to the integration of My Little Paris. Geographically, Europe's share increased from 9% to 15% of revenue (€3,344 thousand), France's share declined from 84% to 75%, and the rest of the world represented 9%, compared with 8%.
Adjusted EBITDA Close to Breakeven, Margin Improved by 16 Points
Adjusted EBITDA for the first half came in at €-107 thousand, or -0.5% of revenue, compared with €-1,442 thousand and -16.2% in the first half of 2025. On this same half-year basis, the margin rate improved by nearly 16 points. The group indicates it maintained commercial investments intended for the development of its brands and international expansion.
Operating profit before depreciation and impairment of goodwill amounted to €-288 thousand, compared with €-3,074 thousand. Excluding non-recurring impairments of €1,373 thousand recognized in the first half of 2025, the comparable loss for the prior year was €1,701 thousand, representing an improvement of €1,413 thousand. No exceptional charges were recorded during the period, compared with €1,005 thousand a year earlier.
After net financial charges of €100 thousand and tax of €93 thousand, the group's net loss stood at €465 thousand, compared with €5,614 thousand in the first half of 2025. Earnings per share came in at €-0.048, compared with €-0.837 on a restated basis following the two-for-one stock split carried out during the half. These accounts were subject to a limited review by the statutory auditor.
Net Cash of €10.9 Million, 2026 Positive EBITDA Target Confirmed
On June 30, 2026, cash reached €14,939 thousand, compared with €10,756 thousand on December 31, 2025. After €4,046 thousand in borrowings and financial liabilities (compared with €5,309 thousand), net cash stood at €10,893 thousand, compared with €5,447 thousand six months earlier. Equity amounted to €15,173 thousand.
This change reflects notably the €6,401 thousand from the capital increase carried out during the initial public offering, partly offset by €1,263 thousand in debt repayments and by cash flow from operations of €-978 thousand (compared with €-483 thousand in the first half of 2025). This flow includes a working capital variation of €-678 thousand, principally related to the decrease in trade payables and other creditors.
On the governance front, the group announced the appointment of Gabriele Betti as Chief Operating Officer, as well as the arrival on the board of directors of Luis Pereira, representing Bpifrance, and two independent directors, Caroline Pois and Michele Benzeno. Full-year revenue will be published on January 26, 2027, and full-year results on April 20, 2027.
With adjusted EBITDA of €-107 thousand in the first half, IEVA Group confirmed its target of positive EBITDA for 2026, in line with the objectives set at its listing on Euronext Growth Paris in March 2026.
