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Hepsiburada Announces Second Quarter 2021 Financial Results ISTANBUL , Aug 26 , 2021 - D - MARKET Electronic Services & Trading ( d / b / a " Hepsiburada " ) ( NASDAQ : HEPS ) , a leading Turkish e - commerce platform ( referred to herein as " Hepsiburada " or the " Company " ) , today announces its unaudited financial results for the second quarter ended June 30 , 2021 . hepsiburada Hepsiburada continued to generate strong GMV growth off a solid base , and achieved a record number of quarterly orders and presence in every city in Turkey for last - mile delivery logistics via its in - house service , HepsiJet during the quarter . The Company remains fully focused on prioritizing growth and delivering long - term value for all stakeholde Second - Quarter 2021 Financial and Operational Highlights ● Gross merchandise value ( GMV ) grew by 38.2 % compared to Q2 2020 , reaching TRY 5.9 billion . This growth was achieved against a strong baseline effect of Covid - 19 pandemic last year , and is driven by strong order growth through a higher active customer base and frequency . In the first six months of 2021 , GMV growth was 58.2 % compared to the same period in 2020 . ● ● Number of orders increased 37.9 % to 13.1 million , compared to 9.5 million orders delivered in Q2 2020. In the first six months of this year , the number of orders increased 43.9 % compared to the same period in 2020 . Share of Marketplace GMV reached 69 % , compared to 58 % in Q2 2020 , reflecting our commitment to a hybrid business model . The GMV shift to Marketplace ( 3P ) is expected to result in strategic advantages for our business in the long term , facilitating wider selection of products and services , and greater availability as well as further competitive pricing . Revenue grew 5.2 % compared to Q2 2020 , reaching TRY 1,754.7 million . Slower revenue growth compared to GMV growth is mainly a reflection of the shift in GMV mix in favor of Marketplace . EBITDA was negative TRY 188.6 million in Q2 2021 compared to positive TRY 71.1 million in Q2 2020. This was a result of increased investments , consistent with our prioritization of GMV growth . The EBITDA decline is due to lower gross contribution driven primarily by investments to fortify our market position in electronics , investments to penetrate in high frequency categories as well as higher customer demand for low margin products . A 1.5 percentage points ( pp ) rise in our advertising expense as a percentage of GMV compared to Q2 2020 to invest in growth acceleration also impacted this performance . As a result , net loss for the period was TRY 324.1 million compared to a net loss of TRY 15.1 million for Q2 2020 . Free cash flow was TRY 705.4 million , compared to TRY 136.1 million in Q2 2020 , driven by a strong increase in positive cash flow from operating activities of TRY 594.9 million resulting from effective working capital management .