Mirakl Achieves First Full-Year Profitability After 13 Years -- Defining the Next Decade of Commerce with Agentic Commerce Platform "Mirakl Nexus"

Marketplace SaaS Leader Mirakl Announces Full-Year Profitability and Agentic Commerce Strategy

Mirakl Reached $218M ARR (+23%) and Launched Agentic Commerce Platform (Mirakl Nexus)

Mirakl announced strong 2025 results marked by consistent growth and full-year profitability at group level. Annual Recurring Revenues (ARR) increased by 23% to $218 million in 2025.

On February 26, 2026, marketplace platform leader Mirakl announced its 2025 full-year results. Annual recurring revenue (ARR) reached $218 million, up 23% year-over-year, achieving the company's first-ever group-wide full-year profitability since its founding. Simultaneously, the company unveiled "Mirakl Nexus," a new platform designed to serve as the foundation for agentic commerce -- where AI agents autonomously discover and purchase products.

Gross merchandise value (GMV) through marketplaces and dropship grew 31% year-over-year to approximately $15 billion. The customer base expanded to over 450 companies worldwide, with 45 major enterprises newly adopting the platform in 2025 alone. Annual contract value (ACV) for new customers grew approximately 20% year-over-year.

Background and Industry Context

Mirakl is a B2B SaaS company founded in France in 2012. It provides a platform enabling retailers and brands to build and operate marketplaces on their own websites. While competitors include Salesforce Commerce Cloud and commerceTools, Mirakl has carved out a distinctive position as a marketplace-specialized platform.

The company's customers include global leaders such as Macy's, Decathlon, ASOS, and Carrefour. In 2025, 36 companies including John Lewis & Partners, Ulta Beauty, Germany's Bauhaus, and Limango (an Otto Group subsidiary) newly launched marketplace or dropship operations. Over 35 customers now exceed $100 million in GMV.

The focus on agentic commerce aligns with broader industry trends. A McKinsey report published in October 2025 projected that by 2030, AI agent-mediated retail sales could reach up to $1 trillion in the U.S. alone and up to $5 trillion globally. As technology giants including Stripe, Google, and OpenAI race to develop protocols and infrastructure for agentic commerce, Mirakl has chosen to redefine its existing marketplace infrastructure as the core platform for AI agent enablement.

Mirakl Nexus: The "Intelligence Layer" Connecting AI Agents and Merchants

The most significant strategic pivot Mirakl announced in 2025 was Mirakl Nexus, an agentic commerce platform. Co-founder and co-CEO Philippe Corrot stated in the official announcement that "just as we pioneered the platform economy over a decade ago, Mirakl Nexus defines the architecture connecting traditional commerce with an agentic future."

Mirakl Nexus extends its role from traditional marketplace transaction intermediation to "orchestrating the entire agentic commerce value chain" -- encompassing AI agent-driven product discovery, comparison, purchasing, and after-sales service. It consists of the following capability sets.

Strategic partnership with Stripe. In December 2025, the company announced a partnership with Stripe. Stripe provides connectivity to AI platforms such as OpenAI, while Mirakl functions as the orchestration layer on the merchant side. Merchants can participate in AI agent-driven sales channels without rebuilding their existing infrastructure. AI agents automatically discover product catalogs and seamlessly complete checkout.

Seller network of over 100,000 companies. The curated seller network of over 100,000 companies built through Mirakl Connect serves as a broad, reliable product supply source for AI agents. Luxury and contemporary brands including Balmain, Lancel, and Boggi have also joined.

AI-powered catalog transformation. Mirakl's "Catalog Transformer" leverages over 10 generative AI models to automate attribute extraction from product images, auto-completion of missing fields, and data quality assurance. According to a case study with OpenAI, it reduced seller onboarding time by 91% and cut category classification errors by approximately 50%. This accelerates the preparation of "structured product data that AI can understand" -- a prerequisite for agentic commerce.

Three Revenue Engines Driving Profitability

Mirakl's path to profitability was supported by rapid growth in two new business lines alongside its core platform.

Mirakl Ads (retail media). The advertising business launched in 2023 saw ad spend grow 258% year-over-year to $12.7 million in 2025. It acquired 30 new clients, with approximately 50 retailers including Lowe's, Ulta Beauty, and Rakuten France now using the platform. AI-powered ad delivery achieved an 83% increase in ad response rates and a 25% increase in click-through rates.

Mirakl Connect (multi-channel selling). Despite being in its first year, the platform achieved ARR of $11.7 million. Approximately 1,000 paying users leverage the platform, which enables brands and sellers to list products uniformly across multiple marketplaces.

Mirakl Platform (core business). The core platform business, which first achieved full-year EBITDA profitability in 2024, drove the group's overall profitability in 2025. Co-CEO Adrien Nussenbaum revealed that "20% of R&D is being invested in AI."

Impact and Implications for E-Commerce Businesses

Mirakl's profitability and full pivot to agentic commerce offer concrete implications for e-commerce businesses.

The advantage of marketplace-model platforms is expanding. AI agents prioritize broad product assortment, real-time inventory information, and competitive pricing. As Mirakl's blog points out, retailers operating marketplaces or dropship programs have significantly higher chances of being "discovered" by AI agents compared to traditional e-commerce sites that only carry their own inventory.

Structuring product catalog data is urgent. In agentic commerce, whether AI can accurately interpret product information directly impacts sales. Leveraging tools like Mirakl's "Catalog Transformer" to improve attribute completeness and data quality becomes a fundamental competitive advantage in the AI agent era.

Evaluate support for multiple agentic protocols. Multiple standards coexist -- Stripe's Agentic Commerce Protocol (ACP), Google's Universal Commerce Protocol (UCP), and Mirakl's Nexus, among others. Rather than depending on a single platform, adopting an orchestration layer that provides unified connectivity across multiple channels is a practical approach.

Conclusion

Mirakl's full-year profitability marks an important milestone demonstrating the sustainability of the marketplace SaaS business model. The fact that a company of this scale -- with $218 million ARR and $15 billion GMV -- has clearly positioned "agentic commerce infrastructure" as its next growth pillar carries significant weight.

What stands out is Mirakl's positioning of itself not as a competitor to AI platforms, but as "neutral infrastructure" connecting AI platforms with existing merchants. A seller network of over 100,000 companies, relationships with more than 450 retailers, and 13 years of accumulated commerce data form the foundation of this strategy. For e-commerce businesses, building product data that AI agents will select and developing a platform strategy aligned with agentic commerce will be the key differentiators for future growth.