Mad Paws reports record quarterly results

Mad Paws Holdings Limited (ASX: $MPA), Australia's leading online pet ecosystem, has announced its December 2023 Quarterly results, including the Appendix 4C and Activities Report. The company reported Group Operating Revenues of $7.6m, marking a 15% increase on pcp. The Marketplace also achieved a record Quarterly Gross Merchandise Value (GMV) of $10m, with a 31% increase in revenue year-on-year.

Executive Commentary on Quarterly Performance

Justus Hammer, Co-Founder & CEO of Mad Paws, expressed satisfaction with the company's performance, highlighting the achievement of multiple milestones, including reaching $10m in GMV for the marketplace for the first time. He also emphasized the second consecutive quarter of positive Group operating cash flow, positioning the company well for the future.

Summary of Quarterly Report and Outlook

Mad Paws' December 2023 Quarterly report reflects continued revenue growth and a strong focus on achieving EBITDA break-even. The company's Marketplace division saw significant year-on-year revenue growth, driven by improvements in customer experience and efficient expansion of sitter supply. The E-commerce segment also demonstrated operational improvements, with a focus on scaling AutoShip orders and international expansion. Looking ahead, Mad Paws aims to consolidate its brands, drive recurring revenue, and expand its private label products, positioning itself for long-term shareholder value as the pet sector remains active.