• Gross revenue increased by 12% to $514.1 million
• Repeat customers accounted for 67% of gross revenue, up from 58% in H1-FY24
• Adjusted EBITDA of $12.1 million, with an adjusted EBITDA margin of 3.1%

Cettire Limited (ASX: CTT), a global luxury online platform, has released its results for the six-month period ended 31 December 2024 (H1-FY25). The company reported a 12% increase in gross revenue to $514.1 million and an 11% increase in sales revenue to $394.0 million. Active customers grew by 21% to approximately 695,000, with repeat customers accounting for 67% of gross revenue, up from 58% in H1-FY24. Cettire achieved an adjusted EBITDA of $12.1 million, representing a 3.1% adjusted EBITDA margin, with a delivered margin of $70.8 million. The company's operating cash flow for the first half was $29.8 million, and it ended the period with $101.0 million in cash and zero financial debt. Cettire's Founder and CEO, Dean Mintz, highlighted the company's ability to deliver profitable growth and leverage its flexible business model to respond to challenging external environments. The company has continued to invest in its technology and capabilities, including AI initiatives to personalize shopping experiences and optimize logistics. Cettire's revenue base has also diversified, with gross revenue from emerging markets increasing strongly and representing 37% of total gross revenue. While the company expects the short-term outlook to remain uncertain, it is focused on preparing the business for an improvement in the global luxury sector, balancing profitability and growth, and realizing the value of the enhancements made to its business model.

Cettire expects Q3 to be a dynamic and challenging quarter, particularly considering the elevated comparable period in FY24. However, the company believes Q4 is when it will start to see greater stabilization and a clearer picture of the pace at which the luxury market will normalize.