Adyen reported Q1 2026 net revenue of 620.8 million euros, up 16 percent year over year and 20 percent on a constant currency basis, with processed volume reaching 382 billion euros. The company’s Platforms segment emerged as its fastest-growing business, delivering 75 million euros in net revenue at 35 percent reported growth and 40 percent on a constant currency basis.
Unified Commerce, which combines online and in-store payment processing for enterprise retailers, grew 24 percent to 196.2 million euros. The Digital segment, Adyen’s most mature business serving pure online merchants, grew 9 percent to 349.6 million euros.
CFO Ethan Tandowsky described the results as reflecting broad-based performance across the global customer base. Management maintained full-year guidance of 20 to 22 percent net revenue growth on a constant currency basis, with EBITDA margins expected to remain stable before expanding above 55 percent by 2028.
The Platforms acceleration reflects growing demand from software companies and marketplaces that embed payment processing directly into their products. As the embedded finance stack matures, payment infrastructure providers like Adyen that can serve both direct enterprise merchants and platform-mediated commerce are capturing an increasing share of global transaction volume.
