Adyen statistics show that Adyen processed €803.8 billion in H1 2026, an increase of 24%, while net revenue reached €1,302.9 million, up 19% year-on-year. For full-year 2025, net revenue was €2,364.2 million and processed volume was €1,394.3 billion.
The half also showed where growth now comes from. Adyen’s take rate landed at 16.2 basis points (bps), reflecting expected volume tiering as enterprise merchants process at larger scale, compared with, according to Adyen’s H2 2025 letter, 17.1 bps in H2 2025. The figures below come from Adyen’s shareholder letters, results releases, license disclosures and press room, and cover volume, revenue by region and pillar, profit, headcount and the company’s 2026 guidance.
Key Takeaways
- Adyen’s take rate fell back, according to Adyen’s shareholder letters: It landed at 16.2 bps in H1 2026, after 17.1 bps in H2 2025 and 16.8 bps in H1 2025.
- Growth is less concentrated, with big customers such as Google, Microsoft, Spotify and Uber still expanding: 300 merchants now account for 60% of Adyen’s growth, down from more than 70% three years ago.
- Hiring tilts west and to India: North America full-time equivalents rose from 827 in H1 2025 to 975 in H1 2026, and Bengaluru from 49 to 102.
- After closing the Talon.One and Orb deals, and on earnings before interest, taxes, depreciation and amortization (EBITDA), Adyen expects the 2026 margin to land one percentage point lower than 2025 including its acquisitions, which are expected to add approximately 1 percentage point to net revenue growth.
- Volume compounding: Processed volume grew from €516 billion in 2021 to €1,394.3 billion in 2025, 2.7 times the 2021 level.
- Platforms led the pillars on growth: Platforms net revenue reached €165.5 million, up 37%, while Digital net revenue rose 13%.
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- Processed volume in H1 2026: €803.8 billion.
- Net revenue in FY 2025: €2,364.2 million.
- EBITDA in H1 2026: €641.5 million.
- Net income in H1 2026: €544.1 million.
- Full-time equivalents at the end of H1 2026: 5,020.
- Transacting terminals in H1 2026: 838,000.
Adyen Statistics: Revenue and Profit in H1 2026
- According to Adyen’s H1 2026 letter, net revenue was €1,302.9 million in H1 2026, up 19% year-on-year, or 21% on a constant currency basis.
- Roughly two thirds of that growth came from expanding relationships with customers onboarded in 2024 and earlier.
- EBITDA was €641.5 million, up 18%, with a margin of 49%, or 50% excluding one-time transaction costs.
- Operating expenses included €6.0 million in one-time transaction costs directly associated with the Talon.One and Orb acquisitions.
- Per Adyen’s results release, free cash flow conversion was 86%, with capital expenditure (CapEx) at 5% of net revenue.
| Metric | H1 2026 | Change year-on-year |
|---|---|---|
| Net revenue (€ million) | 1,302.9 | 19% |
| Processed volume (€ billion) | 803.8 | 24% |
| EBITDA (€ million) | 641.5 | 18% |
| Net income (€ million) | 544.1 | 13% |
| Free cash flow (€ million) | 553.4 | 17% |
| Operating expenses (€ million) | 738.0 | 21% |
Source: Adyen H1 2026 Shareholder Letter (August 2026)
About This Data
The figures come from 18 Adyen sources published between February 2022 and October 2026: two shareholder letters, 14 press releases and two pages of Adyen’s website covering licenses and offices. Only figures Adyen itself published qualified, and no market-research estimates were used. Figures are reviewed on a rolling basis and updated when Adyen publishes new results.
Adyen Processed Volume by Year
- Adyen’s payment processing volume was €1,394.3 billion in 2025, up 21% excluding a single large-volume customer, or 8% including that customer.
- The 2025 total was 2.7 times the 2021 level.
- Processed volume was €745.3 billion in H2 2025, up 12%, or 19% excluding the single large-volume customer.
- H1 2026 volume of €803.8 billion rose 24%, driven by share-of-wallet gains and new customers onboarding across global markets.
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Recent Developments
- October 12, 2026: FC Bayern München extended its partnership with Adyen, which began in 2023; the switch cut average stadium payment time from 30 to 27 seconds, letting the club process approximately 10% more kiosk transactions on match days.
- October 7, 2026: Shareholders at Adyen’s Extraordinary General Meeting (EGM) approved the appointment of Chris Vogelzang to the Supervisory Board; Herna Verhagen will succeed Piero Overmars as Chair on November 1, 2026.
- September 23, 2026: Adyen announced a strategic partnership with Danish fintech Flatpay, which has a customer base exceeding 100,000 merchants across seven European markets.
- September 22, 2026: Adyen nominated Niclas Neglen, previously Chief Financial Officer (CFO) at Klarna, as its next CFO, effective February 1, 2027, subject to regulatory and shareholder approval.
- September 22, 2026: Adyen launched an upgrade to Authenticate after partnering with Google, Mastercard and Visa on authentication protocols; Too Good To Go has seen an 11% increase in payment conversion since using it.
- August 10, 2026: Adyen’s partnership with Toast’s restaurant payments platform expanded into the US; Toast facilitated more than $215 billion in gross payment volume across approximately 180,000 locations worldwide in the 12 months ending June 30, 2026.
Adyen Net Revenue History
- Net revenue was €2,364.2 million in 2025, up 18%, or 21% on a constant currency basis.
- Second-half 2025 net revenue was €1,270.7 million, up 17%.
- Full-year 2024 net revenue was €1,996.1 million, up 23%.
- Net revenue in 2023 was €1,626.1 million, up 22%.
- Net revenue in 2021 was €1.0 billion (€1,000 million), up 46%.
- In the first quarter of 2026, net revenue was €620.8 million, up 16%, or 20% on a constant currency basis.
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Adyen Net Revenue by Region
- In Europe, the Middle East and Africa (EMEA), net revenue was €722.5 million in H1 2026, up 15%, representing 55% of total net revenue.
- North America net revenue grew 23% to €358.1 million, or 30% on a constant currency basis, representing 27% of total net revenue.
- Asia-Pacific net revenue reached €136.9 million, up 23%.
- Latin America net revenue increased 43% to €85.3 million, or 35% on a constant currency basis.
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Adyen Revenue by Business Pillar
- Digital net revenue reached €719.7 million in H1 2026, up 13%, on digital payments volume of €427.9 billion.
- Unified Commerce net revenue reached €417.7 million, up 25%, or 27% on a constant currency basis, on processed volume of €240.9 billion, up 27%.
- Adyen now supports 486 customers processing across channels at scale.
- Platforms net revenue reached €165.5 million, up 37%, or 40% on a constant currency basis, on processed volume of €135.0 billion, up 42%.
- In the first quarter of 2026, Platforms net revenue was €75.0 million, up 35%.
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Adyen Take Rate Statistics
- Take rate landed at 16.2 bps in H1 2026, reflecting expected volume tiering as enterprise merchants process at larger scale on Adyen’s infrastructure.
- Net revenue of €1,302.9 million on €803.8 billion of volume works out to 16.2 bps.
- In H2 2025, take rate landed at 17.1 bps, driven by changes in the overall merchant mix.
- Processed volume rose 24% in H1 2026, while net revenue rose 19%.
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The gap between volume and revenue growth is the arithmetic of tiered pricing: as Adyen’s largest merchants process more, each euro of volume earns less, so revenue trails volume even in a strong half.
Adyen EBITDA and Profit Margin
- EBITDA was €1,245.7 million in 2025, up 26%, with a margin of 53% for the full year, compared to 50% in 2024.
- EBITDA margin was 46% in 2023, compared to 55% in 2022.
- The EBITDA margin was 63% for full-year 2021.
- H2 2025 EBITDA was €702.1 million, up 23% year-on-year.
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By the numbers: Adyen’s 2023 EBITDA of €743.0 million was up just 2%. In 2024, EBITDA rose 34% to €992.3 million, with the margin landing at 50%, compared to 46% in 2023.
Adyen Net Income and Cash Flow
- Net income grew 13% to €544.1 million in H1 2026, supported by €143.2 million in finance income, generated primarily from balances at central and commercial banks.
- For FY 2025, net income was €1,062.5 million, up 15%, and net income growth was hindered by the interest rate environment.
- Free cash flow reached €553.4 million, up 17%, as Adyen converted 86% of its EBITDA into free cash flow.
- Adyen ended the half with €12.4 billion of total cash, the majority of it balances moving through its system on behalf of merchants.
| Metric | Value |
|---|---|
| Net income, FY 2025 (€ million) | 1,062.5 |
| Net income, H2 2025 (€ million) | 581.6 |
| Finance income, H2 2025 (€ million) | 128.9 |
| CapEx, H1 2026 (€ million) | 64.1 |
| Cash excluding merchant liabilities and receivables, H1 2026 (€ billion) | 4.9 |
Source: Adyen half-year reports (February and August 2026)
Is Adyen profitable?
Yes. Adyen reported net income of €581.6 million in H2 2025, up 13%, and €1,062.5 million for FY 2025. In H1 2026, net income grew 13% to €544.1 million, and the company continues to expect EBITDA margins above 55% by 2028.
Adyen In-Person Payment Statistics
- Adyen’s point-of-sale volumes from in-store merchant payments were €311 billion in 2025, up 34% for the full year.
- Transacting terminals across the platform reached 838,000 in H1 2026, up 27%, as in-person volume grew 28% to €175.7 billion.
- In-person payments now represent 22% of total volume, up from 21% in H1 2025.
- Starbucks rolled out Adyen to 943 stores in seven weeks, with 120+ stores onboarded every week during standard business hours.
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Adyen Platforms and Embedded Finance
- Adyen now powers 37 platform customers processing over €1 billion annually, up from 32 a year ago.
- Active business customers reached 293,000, up 51%.
- Adyen’s embedded finance issuing volumes grew 8x in 2025 as platforms embedded cards directly into their core workflows.
- Capital loan volume more than doubled, with over 80% of businesses returning for subsequent loans.
- In H2 2025, Platforms processed volume grew 28%, or 54% excluding eBay.
| Platforms metric | H2 2025 | H1 2026 |
|---|---|---|
| Platform customers processing over €1 billion annually | 31 | 37 |
| Active business customers | 220,000 | 293,000 |
| Platforms net revenue (€ million) | 143.3 | 165.5 |
Source: Adyen H2 2025 and H1 2026 reports (2026)
Key finding: The number of platform customers processing more than €1 billion annually rose to 31 in H2 2025, up from 28 a year earlier, while active business customers on Platforms grew to 220,000 from 145,000. Platforms sells software companies the tools to offer payments themselves, so its customer counts compound faster than Digital revenue does.
How Many People Work at Adyen
- Adyen’s employee count rose with 249 net new joiners in H1 2026, bringing the total to 5,020 FTEs at the end of the half.
- In H2 2025, Adyen welcomed 203 net new joiners, reaching a total of 4,771 FTEs.
- For 2026, Adyen planned to hire 550 to 650 net new team members, primarily across its US teams and global tech hubs.
- North America grew from 827 FTEs in H1 2025 to 975 in H1 2026, while EMEA reached 3,274.
- Amsterdam had 2,460 FTEs at June 30, 2026, against 2,309 a year earlier, and Chicago grew from 267 to 352.
- Adyen lists offices in 28 cities.
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Why it matters: Offices in North America added 148 FTEs between H1 2025 and H1 2026, and Bengaluru grew from 49 to 102, in line with a 2026 hiring plan centered on US teams and global tech hubs. North American net revenue also grew faster than EMEA’s in H1 2026, and the payroll is moving the same way.
Adyen Merchant Concentration and Peak Volume
- 300 merchants now account for approximately 60% of total growth, down from over 70% three years ago.
- Adyen’s typical share of wallet increases from under 20% in years 3 to 7 to over 40% after year 12.
- Longstanding partners like Google, Microsoft, Spotify and Uber continue to expand their usage even after a decade on the platform.
- H1 2026 enterprise wins included Aritzia, OpenAI and Xiaomi, as well as public sector wins such as GOV.UK Pay.
- During the Black Friday Cyber Monday (BFCM) weekend, Adyen processed 837 million transactions while maintaining 99.9999% uptime.
- Peak transaction volumes compared to a typical Friday increased 2.8x in the United States, 4.5x in Spain and 6.1x in Denmark.
| BFCM weekend metric | Value |
|---|---|
| Transactions processed | 837 million |
| Platform uptime | 99.9999% |
| Unique shoppers | approximately 400 million |
| Shoppers recognized in real time | nearly 95% |
| In-store average basket value vs online | 28% higher |
Source: Adyen H2 2025 Shareholder Letter (February 2026)
Adyen Licenses and Regulation
- Adyen N.V. is authorized as a credit institution under the supervision of De Nederlandsche Bank (DNB), commonly referred to as a banking license.
- In the European Economic Area (EEA), the license includes the ability to provide cross-border acquiring, payment and banking services in all EEA countries under the passporting rules.
- In the UK, Adyen N.V. is authorized as an overseas branch of an EEA credit institution under the supervision of the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
- In H1 2026, Adyen secured direct access to France’s domestic interbank clearing system and obtained a Retail Payment Services Licence from the Central Bank of the UAE.
| Jurisdiction | Supervisor | Authorization |
|---|---|---|
| European Economic Area | De Nederlandsche Bank | Credit institution (banking license) |
| United Kingdom | PRA and FCA | Overseas branch with Part 4A permission |
| United Arab Emirates | Central Bank of the UAE | Retail Payment Services Licence (Category II) |
Source: Adyen Licenses and Disclosures (October 2026)
How safe is Adyen?
Adyen N.V. is a credit institution supervised by De Nederlandsche Bank, and Adyen MEA holds a Retail Payment Services Licence (Category II) from the Central Bank of the UAE. During the BFCM weekend it maintained 99.9999% uptime. Supervision and uptime describe how Adyen is regulated and run; neither is a guarantee against losses.
Adyen 2026 Financial Outlook
- Adyen expects 2026 net revenue growth of 21 to 23% on a constant currency basis, including the contribution of the acquisitions completed on July 1, 2026.
- CapEx is expected to be 7% of net revenue in 2026 as Adyen accelerates 2027 data center spending into H2 2026, before returning towards historical levels post-2026.
- Talon.One and Orb are expected to add approximately 1 percentage point to net revenue growth in 2026.
| Objective | Outlook with H2 2025 results | Outlook with H1 2026 results |
|---|---|---|
| 2026 net revenue growth (constant currency) | 20 to 22% | 21 to 23%, including acquisitions |
| 2026 EBITDA margin | Broadly in line with 2025 | One percentage point lower than 2025, including acquisitions |
| Capital expenditure | Up to 5% of net revenue | 7% of net revenue |
| EBITDA margin by 2028 | Above 55% | Above 55% |
Source: Adyen results releases (February and August 2026)
Conclusion
Adyen processed €803.8 billion in H1 2026 and earned net revenue of €1,302.9 million, while its take rate landed at 16.2 bps. The pattern across these numbers is a company trading price for scale with its largest merchants and adding products, from issuing to the Talon.One and Orb acquisitions, even as those deals lower the 2026 EBITDA margin outlook.
Niclas Neglen is nominated to join as CFO on February 1, 2027, subject to regulatory and shareholder approval, and the next shareholder letters will show whether the raised growth outlook, which includes the acquisitions, holds once both acquisitions are in the numbers.
