Delivery Hero raised its 2026 outlook after second-quarter GMV growth accelerated to 11.3% year over year at €13.2 billion and Dmart orders increased 39%, despite a first-half net loss of €392.4 million that exceeded the €191.7 million analyst consensus. Revenue rose 12.7% to €7.75 billion, while adjusted EBITDA increased 3.9% to €426.7 million, ahead of the €387.7 million estimate cited in the latest results. The company lifted its GMV growth forecast to 9% to 11% from 8% to 10%, expects full-year adjusted EBITDA of €960 million to €1 billion and raised its free cash flow forecast before extraordinary items to slightly above €250 million. Delivery Hero also continues to rely on subscription plans to support repeat orders and customer loyalty as competition remains intense. Its planned transaction with Uber is expected to close in the second half of 2027, subject to regulatory approval.