• Kogan.com records strong growth, with Active Customers up 48.3% to 2.8 million
• Platform-based Sales revenue increased 20.5% to $107.9 million
• Mighty Ape faces temporary challenges, leading to $46.3 million goodwill impairment

Kogan.com Ltd ('the Group') delivered a strong FY25 performance, with Kogan.com recording substantial growth across all key divisions and expanding its customer base to over 3.5 million Active Customers. These results were partially offset by a challenging year for subsidiary Mighty Ape, which navigated website technical issues following an upgrade, and a softening retail market in New Zealand. In light of the temporary challenges Mighty Ape faced, the Group took the prudent step of writing down the goodwill associated with the Mighty Ape acquisition when performing its annual goodwill impairment assessment. The one-off, non-cash adjustment reflects current trading and conditions. The Group remains confident in a rebound in performance during FY26. Kogan.com recorded a year of strong growth in FY25, driven by strategic investment in high Return-on-Investment (ROI) marketing channels. Kogan.com Active Customers grew 48.3% to 2.8 million. Platform-based Sales revenue increased 20.5% to $107.9 million and delivered superior unit economics through a capital-light, scalable model. Marketplace revenue increased 34.2% to $29.4 million, benefitting from the impact of increased marketing efforts and changes in the competitive landscape. The Kogan FIRST loyalty program delivered $51.3 million in Revenue, up 17.5%, and ended the year with a 24.2% increase in deferred income to $8.8 million. Mighty Ape continued to progress its strategic initiatives in FY25, including the launch of the Mighty Ape Marketplace, an upgraded PRIMATE loyalty program, and launch of a mobile app. These developments scaled rapidly and represent significant new long-term revenue opportunities. PRIMATE subscription revenue grew 367% to $2.4 million, with momentum accelerating following the October 2024 website upgrade.

The Group remains confident in a rebound in Mighty Ape's performance during FY26.