• Kogan Group grew customers, increased revenue and improved cash generation
• Enhanced governance, oversight and accountability through board renewal and executive remuneration changes
• Kogan.com drove Group performance, while strategic investments at Mighty Ape are expected to deliver long-term benefits

Kogan.com Ltd reported its FY25 results, highlighting key achievements for the Kogan Group. Total Active Customers grew by 35% year-over-year to 3.5 million, while Kogan Products revenue increased 15% and Platform-based Sales revenue rose 24%. Free Cash Flow improved 40% year-over-year to $32.4 million. The company outlined a number of initiatives to strengthen alignment with shareholders, including board renewal to increase independence, a revamped executive remuneration structure focused on long-term shareholder value, and continued progress on sustainable and responsible business practices. The CEO's address outlined the Kogan Group's strategy, which aims to drive recurring revenues and attractive margins through its Exclusive Brands, Third-Party Brands, Loyalty Programs, and Verticals. The company aspires to achieve break-even Adjusted EBITDA margins in FY25, with medium-term aspirations of 50-55% and long-term aspirations of 8-12%. Kogan.com was the key performance driver, with all divisions contributing to strong results. Mighty Ape's performance was impacted by operational and inventory challenges, but the company is on track for a recovery in the second half of FY26 following right-sizing of inventory and other strategic initiatives. Overall, the Kogan Group is focused on delivering compelling value to customers, driving customer growth, and leveraging platform-based sales to maximize profitability.

Kogan.com expects to achieve break-even Adjusted EBITDA margins in FY25, with medium-term aspirations of 50-55% and long-term aspirations of 8-12% Adjusted EBITDA margins.

The Kogan Group is focused on delivering compelling value to customers, driving customer growth, and leveraging platform-based sales to maximize profitability. Mighty Ape is expected to return to profitability in the second half of FY26 following strategic initiatives.