• Achieved Group Cash EBITDA positive of $0.3 million, a $0.7 million improvement vs 1H FY24
• Marketplace division delivered 29% increase in Cash EBITDA to $2.2 million
• e-Commerce division reached EBITDA break-even for the first time

Mad Paws Holdings Limited reported its half-year results for FY 2025, with the Group achieving Cash EBITDA positive of $0.3 million, a $0.7 million improvement compared to 1H FY24. The Marketplace division delivered a 29% increase in Cash EBITDA to $2.2 million, driven by 12% revenue growth and improved operational efficiency. The e-Commerce division reached EBITDA break-even for the first time, with a $0.5 million improvement in profitability due to gross margin improvements, marketing cost optimization, and process enhancements across the warehouse and customer service operations. The Group continued to execute on its strategy to build 'the' destination for trusted, convenient, and best-in-class pet care, with key highlights including a successful media campaign with Seven West Media, optimized customer experience, and new product and technology initiatives.