Whoosh H1 2026: Revenue Growth Accelerates to +3.6% YoY, But EBITDA Slips 4.2% and Net Loss Persists

Whoosh reported H1 2026 revenue of RUB 5,564.2 mn, up 3.6% y/y, marking a sharp acceleration from the 11.5% y/y decline in H2 2025. However, EBITDA fell 4.2% y/y to RUB 967.8 mn, and the net loss widened to RUB 1,765.6 mn from RUB 1,890.0 mn a year earlier. The results highlight a still-challenging profitability picture despite top-line recovery.

H1 2026 vs H1 2025: YoY change

What drove the result

The revenue acceleration was the main positive, with growth turning positive after two consecutive half-year declines (H1 2025: -14.8% y/y; H2 2025: -11.5% y/y). However, EBITDA remained under pressure, declining 4.2% y/y, though this was a significant improvement from the 63.5% y/y drop in H1 2025 and the 22.3% y/y decline in H2 2025. The net loss narrowed slightly to RUB 1,765.6 mn from RUB 1,890.0 mn, but profitability remains elusive. No segment breakdown was provided in the data.

Key figures

Outlook

The return to revenue growth is a positive signal, but the company must translate this into improved profitability. EBITDA margin remains under pressure, and the net loss, while narrowing, still weighs on the bottom line. Investors will look for further top-line acceleration and cost control to drive a sustainable turnaround. No guidance or dividend updates were provided.