OZON: E-commerce Revenue Soars 46% YoY in Q1, Achieving Fourth Consecutive Profitable Quarter

Ebrun News, May 20th - Recently, Russia's leading e-commerce platform Ozon released its financial report for the first quarter of 2026. Benefiting from sustained high growth in its e-commerce business, expansion of its fintech segment, and improved platform operational efficiency, the company achieved record highs across multiple core metrics including revenue, profit, and user scale, marking its fourth consecutive profitable quarter.

The financial report shows that in Q1 2026, Ozon's Gross Merchandise Value (GMV), including services, increased by 36% year-over-year to 1.135 trillion rubles. Adjusted EBITDA reached 48.8 billion rubles, an increase of 16.4 billion rubles compared to the same period last year, setting a new historical high. Concurrently, the adjusted EBITDA margin on GMV improved by 0.4 percentage points to 4.3%, indicating further enhanced profitability.

Alongside the improved profitability, Ozon's gross profit grew by 45% year-over-year to 68.2 billion rubles. The company stated that the growth in gross profit was primarily driven by increased service revenue and the expansion of its fintech business. Simultaneously, the platform's ongoing push for automation and process optimization has led to more effective control over service costs.

As the core business segment, Ozon's e-commerce operations continued their rapid growth trajectory.

In Q1 2026, the company's e-commerce revenue increased by 46% year-over-year to 250.1 billion rubles. This growth rate outpaced the overall GMV growth, demonstrating a further enhancement of the platform's commercialization capabilities.

In terms of user scale, Ozon continued to expand its leading advantage in the Russian e-commerce market. During the reporting period, the number of active buyers on the platform increased by 9.2 million year-over-year, reaching 67.3 million. The company's continued pursuit of a 'high-value-for-money' product strategy has significantly increased user purchase frequency. Currently, the average number of orders per buyer per year on the Ozon platform has reached 42, a 50% increase compared to the same period last year.

Meanwhile, the platform's high-frequency user base is also expanding rapidly. Data shows that the number of 'super fans'—users who place orders more than once a week—doubled year-over-year, approaching 18 million. Driven by increased user activity, the total number of orders completed on Ozon in Q1 2026 reached 807.7 million, an 83% increase year-over-year.

Regarding traffic metrics, Ozon maintained its leading position among Russian e-commerce platforms. In March 2026, the platform's Monthly Active Users (MAU) reached 84 million, an increase of 6 million year-over-year. Daily Active Users (DAU) grew by approximately one-third year-over-year, reaching 44 million.

Overall, against the backdrop of intensifying competition in the Russian e-commerce market, Ozon is further solidifying its market position by expanding its user base, increasing user stickiness, and strengthening its fintech and platform service capabilities. Achieving profitability for four consecutive quarters also signifies that the company is gradually transitioning from a phase of rapid expansion to a more stable phase of high-quality growth.

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