# D-MARKET Electronic Services & Trading: overview

HEPS · Nasdaq · CIK 1850235 · [Consumer discretionary](/sectors/consumer-discretionary.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/heps.md) · [Financials](/companies/heps/financials.md) · [Filings](/companies/heps/filings.md) · [Insiders](/companies/heps/insiders.md)

Revenue is not reported in this company’s XBRL financial statements.

## Last eight quarters

Not reported.

## Last five fiscal years

| Line item | Unit | FY (2020-12-31) | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [15.2](/filings/0001104659-23-054370.md) | [24.8](/filings/0001104659-24-055011.md) | [38.2](/filings/0001104659-25-041729.md) | [51.3](/filings/0001104659-25-041729.md) | [57.0](/filings/0001104659-25-041729.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(5.5%)](/filings/0001104659-23-054370.md) | [(27.3%)](/filings/0001104659-24-055011.md) | [(19.3%)](/filings/0001104659-25-041729.md) | [(2.0%)](/filings/0001104659-25-041729.md) | [0.0%](/filings/0001104659-25-041729.md) |
| Net margin | % | [(6.2%)](/filings/0001104659-23-054370.md) | [(13.4%)](/filings/0001104659-24-055011.md) | [(18.1%)](/filings/0001104659-25-041729.md) | [0.2%](/filings/0001104659-25-041729.md) | [(2.8%)](/filings/0001104659-25-041729.md) |
| Diluted EPS | $ per share | [(3.29)](/filings/0001104659-23-054370.md) | [(10.93)](/filings/0001104659-24-055011.md) | [(21.20)](/filings/0001104659-25-041729.md) | [0.30](/filings/0001104659-25-041729.md) | [(4.90)](/filings/0001104659-25-041729.md) |
| Free cash flow | $bn | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: ifrs-full:RevenueFromContractsWithCustomers.
- Gross margin (gross profit / revenue). XBRL Revenue: ifrs-full:RevenueFromContractsWithCustomers.
- Operating margin (operating income / revenue). XBRL Operating income: ifrs-full:ProfitLossFromOperatingActivities; Revenue: ifrs-full:RevenueFromContractsWithCustomers.
- Net margin (net income / revenue). XBRL Net income: ifrs-full:ProfitLoss; Revenue: ifrs-full:RevenueFromContractsWithCustomers.
- Diluted EPS. XBRL Diluted EPS: ifrs-full:DilutedEarningsLossPerShare.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: ifrs-full:CashFlowsFromUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/heps/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [VR Advisory Services Ltd](/funds/1348145.md) | 2026-06-30 | $56.4m | 19,390,670 |  | Added +2,917,849 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $6.8m | 2,324,732 |  | Reduced −13,209 |
| [BNP PARIBAS FINANCIAL MARKETS](/funds/1166588.md) | 2026-06-30 | $2.4m | 838,216 |  | Reduced −33,535 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $2.3m | 788,151 |  | Reduced −25,443 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $1.7m | 592,476 |  | Added +69,840 |
| [683 Capital Management, LLC](/funds/1404574.md) | 2026-06-30 | $1.5m | 500,000 |  | New +500,000 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $760.7k | 261,400 | Call | Added +250,500 |
| [Rangeley Capital, LLC](/funds/1517796.md) | 2026-06-30 | $582.0k | 200,000 |  | Unchanged |
| [NOMURA ASSET MANAGEMENT INTERNATIONAL INC.](/funds/921739.md) | 2026-06-30 | $465.0k | 159,800 |  | Unchanged |
| [GAM Holding AG](/funds/1438848.md) | 2026-06-30 | $378.3k | 130,000 |  | Not compared |

## Recent filings

[All 188 filings](/companies/heps/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-27 | 08:30 ET | [6-K](/filings/0001104659-26-118994.md) | Report of a foreign private issuer, period 2026-10-27 | 0001104659-26-118994 |
| 2026-09-30 | 16:16 ET | [6-K](/filings/0001104659-26-112344.md) | Report of a foreign private issuer, period 2026-09-30 | 0001104659-26-112344 |
| 2026-09-15 | 07:00 ET | [SCHEDULE 13D/A](/filings/0001193125-26-391292.md) | Ownership report, active investor, amended | 0001193125-26-391292 |
| 2026-09-10 | 11:16 ET | [SCHEDULE 13D/A](/filings/0001193125-26-387494.md) | Ownership report, active investor, amended | 0001193125-26-387494 |
| 2026-09-09 | 08:30 ET | [6-K](/filings/0001104659-26-106148.md) | Report of a foreign private issuer, period 2026-09-09 | 0001104659-26-106148 |
| 2026-08-20 | 08:30 ET | [6-K](/filings/0001104659-26-099021.md) | Report of a foreign private issuer, period 2026-08-20 | 0001104659-26-099021 |
| 2026-08-06 | 16:15 ET | [6-K](/filings/0001104659-26-092023.md) | Report of a foreign private issuer, period 2026-08-06 | 0001104659-26-092023 |
| 2026-07-23 | 08:30 ET | [6-K](/filings/0001104659-26-086091.md) | Report of a foreign private issuer, period 2026-07-23 | 0001104659-26-086091 |
| 2026-07-14 | 16:15 ET | [6-K](/filings/0001104659-26-083500.md) | Report of a foreign private issuer, period 2026-07-14 | 0001104659-26-083500 |
| 2026-06-30 | 08:00 ET | [6-K](/filings/0001104659-26-079097.md) | Report of a foreign private issuer, period 2026-06-30 | 0001104659-26-079097 |

## Latest annual report

[Form 20-F for the fiscal year ended Dec 31, 2025](/filings/0001104659-26-053195.md), filed Apr 30, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1850235
- Tickers: HEPS
- Exchange: Nasdaq
- SIC code: 5961 Retail-Catalog & Mail-Order Houses
- State of incorporation: W8
- Filer category: Accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 08:31 ET. No prices; not investment advice.