Cettire's robust quarterly performance

Cettire (ASX:CTT), a global luxury online platform, reported a robust financial performance for the first quarter of fiscal year 2025, ending on 30 September 2024. The company recorded a 22% increase in sales revenue, reaching $155.0 million, despite a softer global luxury demand. Cettire's focus on optimizing operating settings and profitability resulted in an adjusted EBITDA of $2.0 million, marking a $1.6 million improvement from the previous quarter.

Cettire's strategic growth and future outlook

Cettire reported strong sales and profitability for Q1 FY25, with $155.0 million in sales revenue, a 22% increase year-on-year. The company improved its adjusted EBITDA to $2.0 million, focusing on operational efficiency and profitability amid global luxury market challenges. Active customers rose by 43%, and repeat customer revenue contributed 67% to the gross revenue. Cettire's strategic adjustments, including optimized operating settings and reduced marketing expenditures, have bolstered its financial position. With a robust cash balance of $66 million, Cettire is well-positioned to navigate market conditions and anticipates continued resilience in luxury demand over the next 6-12 months.

Executive insights on Cettire's performance

We are pleased to deliver another strong quarter of growth and profitability improvements. Our strategic focus on operational efficiency and customer retention has paid off, evidenced by the significant increase in repeat customers and a higher average order value. The US market continues to be a key driver of growth, and we remain optimistic about the resilience of luxury demand over the coming months.