• Revenue up 8.7% to $111.9M, with 4.7% growth in active customers and 21.8% growth in new customers
• Underlying EBITDA up 14.5% to $4.1M, with EBITDA margin of 3.7%
• Secured long-term lease for new semi-automated National Fulfilment Centre

Adore Beauty Group Ltd reported a solid set of financial results for the first half of FY26, with revenue increasing 8.7% to $111.9 million and underlying EBITDA growing 14.5% to $4.1 million. The company saw strong growth in both active customers, up 4.7% to 850.4k, and new customers, up 21.8% to 221.7k. Gross profit margin was 35.0%, down 120 basis points on the prior corresponding period, reflecting the impact of a successful Black Friday/Cyber promotional period. The company continued to focus on improving the quality of earnings, with marketing costs down 29.8% and marketing as a percentage of sales at a record low of 8.6%. Adore Beauty also secured a long-term lease for a new semi-automated National Fulfilment Centre, which is expected to unlock operational efficiencies and support the company's growth plans. Other key achievements included the rollout of 10 new retail stores, the delivery of material sales growth for the iKOU brand, and continued investment in technology initiatives such as the development of in-house AI capabilities.

Adore Beauty expects to achieve an underlying EBITDA margin of 3-4% on a pre-AASB 16 basis (equivalent to 5-6% under previous reporting methodology) in FY26. The company is also targeting a 1.25 million active customer base by the end of CY2027 and a national retail store footprint of 25+ stores across both the Adore Beauty and iKOU brands by the end of CY2027.

Adore Beauty is well-positioned for continued strong growth, with a focus on driving new and active customer growth, expanding its retail footprint, and investing in technology and operational infrastructure to improve efficiency and scale. The company's owned brands are expected to account for over 6% of group revenue in FY26.