Amsterdam · August 14th, 2025
Adyen publishes H1 2025 financial results
Adyen delivered resilient performance driven by continued expansion with existing customers
AMSTERDAM, August 14, 2025 — Adyen (AMS: ADYEN) today announced financial results for the half year ending June 30, 2025.
“We entered the year with a clear focus: deepening relationships with existing customers and bringing new enterprise and platform businesses onto our platform,” said Ethan Tandowsky, CFO.
“In the first half, our disciplined execution drove continued traction across regions and verticals, even as some customers faced a more challenging operating environment. As market dynamics shift, the ability to adapt is becoming as important as the ability to grow.
This is where our setup makes a real difference. By staying close to our customers and combining our single platform with deep local expertise, we’re uniquely positioned to support their strategy shifts and strengthen our foundation for long-term growth.”
H1 2025 key metrics
Net revenue was €1,093.5 million, up 20% year-on-year (“YoY”) (21% on a constant currency basis).
Processed volume was €649.0 billion, up 5% YoY, 23% excluding a single large volume customer.
EBITDA was €543.7 million, up 28% YoY, with EBITDA margin landing at 50%.
Free cash flow conversion ratio was 87%, with CapEx at 4% of net revenue.
Issuing volume exceeded €2.0 billion, with customer count nearly doubling YoY.
This press release highlights key information and results from Adyen’s H1 2025 earnings. You can find the full H1 2025 financial results and accompanying Shareholder Letter including our outlook here. Today, at 3 PM CEST, we will host our H1 2025 Earnings call with our Co-CEO, Ingo Uytdehaage, and CFO, Ethan Tandowsky. You can access the livestream here. A recording will be made available shortly thereafter on the same webpage.
Investor Day 2025
On Tuesday November 11, 2025, Adyen will host an Investor Day in Amsterdam. The event will be livestreamed publicly via the company’s investor relations webpage. For investors and analysts, the event can be attended either in person, or via livestream.
About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.
Important Legal Information
This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
The information in this press release and the H1 2025 Shareholder Letter is unaudited. Any person who comes into possession of this document must inform themselves about and comply with any legal restrictions governing possession, distribution, or use of the document.
For further details on the non-IFRS measures included in this press release, refer to the note ‘Non-IFRS financial measures’ to the Financial Statements (note 1.2 to the Interim Condensed Consolidated Financial Statements; note 2.2 to the Consolidated Financial Statements).
Forward-looking statements are not facts and only represent the current views and assumptions of Adyen N.V. (“Adyen”) regarding future events, many of which are by nature inherently uncertain and beyond Adyen’s control. Factors that could cause actual results to deviate materially from those anticipated by forward-looking statements include, but are not limited to, macroeconomic, demographic and political conditions and risks, actions taken and policies applied by governments, financial regulators and private organizations (including payment schemes and credit rating agencies), market conditions and turbulence in financial and other markets, and the success of Adyen in managing the related risks. Subject to statutory obligations, Adyen does not intend to publicly update or revise forward-looking statements to reflect events or circumstances after the date the statements were made, and assumes no obligation to do so.
Adyen does not consent to, authorize, endorse, support, encourage, or participate in, directly or indirectly, unsponsored depository receipt (“DR”) programs regarding Adyen securities. Adyen specifically disclaims any liability whatsoever arising out of or in connection with any unsponsored DR program.