• Kogan.com delivers strong revenue and profit growth
• Mighty Ape faces technical challenges but positioned for long-term growth
• Continued strategic investment in marketing to drive customer growth and market share

Kogan.com Ltd (the 'Group') reported strong financial results for the first half of the 2024/25 financial year, with revenue from ordinary activities growing 9.9% to $272.7 million. This growth was driven by the strong performance of Kogan.com, which saw revenue increase 22.3% to $198.9 million. However, Mighty Ape faced challenges during the half, with revenue declining 13.7% to $73.9 million due to technical issues following a website upgrade. The Group's gross profit increased 18.3% to $106.0 million, with gross margin expanding to 38.9%. The Group's operating costs increased in line with gross profit growth, reflecting strategic investment in Kogan.com marketing to drive customer growth and market share expansion. Kogan.com Active Customers increased 15.7% year-on-year, and Group Active Customers exceeded 3 million as of 31 December 2024. The Group's Adjusted EBITDA and Adjusted EBIT grew 17.5% and 21.2% respectively, demonstrating strong operating leverage. The Group recorded a statutory profit after tax of $10.3 million, which included non-cash equity-based compensation and depreciation and amortization expenses. The Board has declared a fully franked interim dividend of 7.0 cents per share.

For January 2025, the Group reported Gross Sales of $80.4 million (+24.9% YoY), with Kogan.com Gross Sales of $70.8 million (+30.8% YoY) and Mighty Ape Gross Sales of $9.6 million (-6.6% YoY). Group Adjusted EBITDA was $3.0 million (-38.1% YoY), with Kogan.com Adjusted EBITDA of $3.6 million (-13.2% YoY) and Mighty Ape Adjusted EBITDA of -$0.6 million (-182.8% YoY).

The Group enters the second half of FY25 with confidence, anticipating continued top-line growth driven by strong performance at Kogan.com and a recovery in Mighty Ape's performance. The successful strategic investment in Kogan.com marketing will continue, supporting further market share expansion and long-term growth. The Company remains focused on delivering strong profitability, leveraging operational efficiencies and improved cost structures.