Online marketplace Kogan.com has announced a net profit of $10.3 million, up 19%, for the six months ended December 31.
The retailer recently revealed that it unsuccessfully tried to acquire Catch from Wesfarmers, after Wesfarmers confirmed that it had decided to shut down its loss-making e-commerce platform.
Kogan’s half-year sales rose 9.9% to $272.7 million, with the company declaring an interim dividend of 7.5c per share.
On Monday, its share initially fell before climbing to around 1% over its Friday closing to around the $4.55 mark around 11.20am.
In December, it was revealed that the Australian Securities and Investments Commission (ASIC) is investigating an share option deal last year that saw two Kogan executives – founder Ruslan Kogan and CFO David Shafer – reap a combined windfall of more than $17 million.
Since the start of this year, Kogan has lost around a quarter of its share price.
Kogan’s January group gross sales of $80.4 million were up 24.9% compared to the same period last year.
The number of active customers across the group grew to over 3 million for the six months to December 31, up 9.4% year-on-year.
It had a cash reserve of $67.7 million and no debt as of 31 December 2024.
Kogan.com produced gross sales and revenue of $414.8 million and $198.9 million respectively, representing growth 15.4% and 22.3%.
Kogan Products, the division which is made up of Exclusive and Third-Party brands, saw its revenue reach $141 million, a 21.7% growth. Kogan attributed this to “improved inventory health and improved product ranging.”
Kogan Marketplace meanwhile recorded gross sales of $150.8 million and revenue of $14.8 million.
Mighty Ape, Kogan.com’s New Zealand subsidiary, generated $73.9 million of revenue, and gross profit of $20.3 million, accompanied by an upgrade of the website last October.
“Having returned the company to profitability in fiscal 2024, I’m pleased to report today that we have built on that momentum and returned the business to strong sales growth in the first half of 2025,” said Kogan.com founder and chief executive Ruslan Kogan.
“This was achieved through disciplined execution, operational efficiencies, and strategic initiatives that we expect will continue to drive sustainable growth into the future. As our customers continue to navigate the ongoing cost-of-living crisis, we are committed to easing the burden by offering market-leading prices on the most in-demand products and essential services.”
