Kogan.com 1HFY24 Results Overview

Kogan.com Ltd (ASX: $KGN) has released its 1HFY24 Results Presentation, showcasing strong operating leverage and growth in profitability. The unaudited financial information in the presentation, current as of 26 February 2024, highlights the company's commitment to delivering a high-margin business model and increasing contribution from platform-based sales.

Executive Commentary

The 1HFY24 results demonstrate our focus on delivering strong profitability and leveraging our platform-based sales. We are pleased with the growth in our Kogan FIRST Subscribers and the contribution from our Kogan Verticals. The launch of Mighty Mobile under the Mighty Ape brand marks a significant step in replicating our successful business model. We are committed to maintaining a high proportion of repeat customers and enhancing our marketing ROI while exploring new avenues for brand building. The increase in Kogan FIRST Annual Subscription from 8 April 2024 is aimed at sustaining the program's value and benefits. We anticipate continued growth as we progress through 2HFY24 and assess potential opportunities for new verticals in the future.

Summary of 1HFY24 Results and Outlook

Kogan.com's 1HFY24 Results Presentation reflects a strong performance with a focus on profitability and platform-based sales growth. The company's commitment to maintaining a high proportion of repeat customers and enhancing marketing ROI is evident in the results. The launch of Mighty Mobile under the Mighty Ape brand signifies a strategic move to replicate the successful business model. Kogan.com anticipates continued growth in 2HFY24, with a focus on improving gross margin, accelerating the growth of the Advertising Platform and Mighty Mobile, and further enhancing the Kogan FIRST program. The Board has declared a fully franked Interim Dividend of 7.5 cents per share and will provide regular business updates during the year, without providing earnings guidance. The company's strong balance sheet, with a cash balance of $83.3 million and no external debt, positions it well for future endeavors.