• Gross revenue of $505.7 million, sales revenue of $382.8 million
• Delivered margin of $54.8 million, representing 14.3% of sales revenue
• Adjusted EBITDA of $8.7 million, with a 2.3% adjusted EBITDA margin

Cettire Limited (ASX: CTT), a global luxury online platform, released its results for the six-month period ended 31 December 2025 (H1-FY26). The company reported gross revenue of $505.7 million, down 2% from H1-FY25, and sales revenue of $382.8 million, down 3% year-on-year. Active customers declined 12% to 613,078, reflecting softer US demand and a strategic reduction in paid marketing investment. Cettire's delivered margin was $54.8 million, representing 14.3% of sales revenue, reflecting reduced promotional activity, offset by a significant increase in US duties costs. The company delivered adjusted EBITDA of $8.7 million, with an adjusted EBITDA margin of 2.3%, representing a significant half-on-half improvement of $20.5 million compared to H2-FY25. Cettire's strategic focus remained on scaling its global platform, with an increased emphasis on geographic revenue diversification, including strong growth in emerging markets and the launch of Arabic language capability. The company also continued to strengthen its supply chain, exiting H1-FY26 with record available inventory levels.

For the full year, the company anticipates sales revenue broadly similar to FY25. In the short term, Q3-FY26 gross revenues have decreased by 13% versus the prior corresponding period, but the company expects to achieve a significantly improved growth profile in Q4-FY26 as it cycles the major changes in US trade policy throughout FY25 and its initiatives to broaden the geographic revenue base build momentum.

Cettire's business model is highly flexible, enabling quick adaptation to market conditions and cycles. The company continues to operate the business to maximise profitable revenue growth whilst also self-funding, with increased emphasis on profitability in FY26.