• Gross revenue up 12% to $514.1m, sales revenue up 11% to $394.0m
• Adjusted EBITDA of $12.1m, Adjusted EBITDA margin of 3.1%
• Active customers up 21% to 695k, with 67% from repeat customers

Cettire Ltd reported its H1 FY25 results, highlighting continued progress on its profitable growth strategy despite a challenging global luxury environment. Gross revenue grew 12% to $514.1m, while sales revenue increased 11% to $394.0m. The company delivered Adjusted EBITDA of $12.1m, representing a 3.1% Adjusted EBITDA margin, reflecting sequential quarterly improvement. Cettire remained self-funding with zero debt, ending the period with $101m in net cash. The company's active customer base grew 21% to 695k, with repeat customers accounting for 67% of gross revenue. Cettire continued to execute on its localisation strategy, including an encouraging start for its China platform. The company also focused on enhancing its technology capabilities, leveraging AI to drive greater productivity and customer experience. While the short-term outlook for the luxury sector remains uncertain, Cettire is well-positioned to navigate the environment and deliver long-term profitable growth.

Cettire expects Q3 FY25 to be a dynamic and challenging quarter, particularly given the elevated comparable period in FY24. However, the company believes Q4 FY25 will see greater stabilisation and a clearer picture of the pace at which the luxury market will normalise.

Cettire is focused on preparing the business for an improvement in conditions in the global luxury sector by increasing investment in growing its customer base, achieving greater balance between profitability and growth, and embedding enhancements to its business model to start realising their value.