• Strong Group performance driven by Kogan.com
• Recurring revenues and attractive margins drive strong profitability
• Mighty Ape platform migration negatively impacted performance, now resolved

Kogan.com delivered strong financial results in FY25, with the Kogan.com business being the key driver of the Group's performance. The Group's platform-based sales, including Kogan Marketplace, Kogan FIRST loyalty program, and Kogan Verticals, now account for over 58% of total Gross Sales, providing attractive margins and low risk. The acquisition of Mighty Ape in 2020 has expanded the Group's ecommerce footprint, but the platform migration negatively impacted Mighty Ape's performance in FY25. These issues have now been resolved, and the company expects Mighty Ape to return to positive performance in the second half of FY26. The Group has a clear roadmap to drive growth and operating leverage, with a focus on maintaining the strong contribution from platform-based sales, improving Kogan.com's operating leverage, and ensuring the continued strong performance of Kogan Products and Marketplaces. The company expects Group Adjusted EBITDA margin to be between 6-9% in FY26, improving towards the second half as Mighty Ape's recovery progresses.

The Company expects Group Adjusted EBITDA margin of between 6% and 9% in FY26, improving towards the second half as Mighty Ape's recovery progresses.

The Group has clear priorities to drive growth and operating leverage, including maintaining strong contribution from Platform-based Sales, improving Kogan.com operating leverage, and maintaining strong performance of Kogan Products and Marketplaces.