• Kogan.com firing on all cylinders with 21% growth in Gross Sales and 18% growth in Adjusted EBITDA
• Mighty Ape turnaround well advanced, achieving profit in December
• Strong balance sheet and cash flow, with $45.1 million in Free Cash Flow

Kogan.com Ltd (the Company; the Business; the Kogan Group) reported strong 1HFY26 results, with Kogan.com firing on all cylinders. Gross Sales increased 21% to $501.6 million, Revenue grew 17% to $232.4 million, and Adjusted EBITDA was up 18% to $27.6 million. The Mighty Ape business has undergone a significant turnaround, with inventory optimisation, operational and team restructuring leading to the achievement of profitability in December. The Kogan Group delivered $45.1 million in Free Cash Flow, an increase of 2% on the prior corresponding period. The balance sheet remains strong, with $71.8 million in total cash and no debt. The company has combined the Kogan and Mighty Ape teams to form One Global Team with One Group Strategy, aiming to leverage the strengths of both businesses. This includes centralising inventory procurement, standardising KPIs, and aligning warehousing, marketing and operating processes to drive efficiency and improve operating leverage. The Group's platform-based sales continue to grow, now contributing 65% of Gross Sales and 64% of Gross Profit, delivering attractive margins and a capital-light model. The Kogan Marketplace has evolved into a major driver of growth, with a 31.6% increase in revenue. Kogan FIRST, the company's loyalty subscription program, also saw strong growth, contributing around 50% of product Gross Sales. The Kogan Verticals, including the award-winning Kogan Mobile and Kogan Internet, delivered 8.8% revenue growth. The company's Kogan Products division saw 19% revenue growth and 26.4% gross profit growth, driven by the performance of TVs, Appliances, Home & Living and Consumer Electronics. Looking ahead, the company is focused on continuing the positive momentum of its platform-based sales and Kogan Products, while optimising the Mighty Ape business as part of the One Group Strategy. The company reaffirms its previous guidance of full financial year FY26 Adjusted EBITDA Margins between 6% and 9%.

The company reaffirms its previous guidance of full financial year FY26 Adjusted EBITDA Margins of between 6% and 9%.

The company is focused on continuing the positive momentum of its platform-based sales and Kogan Products, while optimising the Mighty Ape business as part of the One Group Strategy. The company expects Mighty Ape to return to positive performance in 2HFY26.