Adore Beauty Group Ltd. · ASX:ABY
Adore Beauty — H1 FY26 Earnings Presentation
23 slides from Adore Beauty's earnings presentation, Feb 24, 2026
Slide 1: H1 FY26 Results Presentation
H1 FY26 Results Presentation 24 February 2026
Slide 2: Strong Revenue, Customer & Profit Growth
Strong Revenue, Customer & Profit Growth Outperformance of sales across seasonal Nov/Dec trading period H1 FY26 Summary1 $4.1M $111.9M 35.0% Underlying EBITDA² Revenue Gross profit margin (pre-AASB 16) +8.7% -120bpts +14.5% EBITDA margin 3.7% 850.4K 221.7K 1.36M Active customers New customers Contac
Slide 3: H1 FY26 Achievements
H1 FY26 Achievements¹ Record underlying EBITDA² of $4.1 million, up 14.5% on PCP; continuing to reset promotional calendar to improve quality of earnings and support margins Opened 10 retail stores across Adore Beauty and iKOU, six additional locations leased and opening CY2026 Record marketing effi
Slide 4: New Omni Strategy Gains Momentum, Delivers Solid Financial Performance
New Omni Strategy Gains Momentum, Delivers Solid Financial Performance Profitability underpinned by strong revenue growth and disciplined cost management Revenue ($A Million) Gross Profit Margin (%) Underlying EBITDA1 ($A Million) 8.7% 120 BPTS 14.5% 111.9 36.2 4.1 35.0 3.6 103.0 33.5 100.7 2.4 H1 F
Slide 5: Engaged Customer Base Continues to Grow
Engaged Customer Base Continues to Grow Loyalty members contributed 78% of sales Active Customers1 (‘000) Total Contactable Database2 (‘000) 14.2% 4.7% 1,362 812 850 1,193 804 1,051 CY23 CY24 CY25 CY23 CY24 CY25 New customers, loyalty initiatives and new Growing contactable database enables cost- ch
Slide 6: Customer Growth Accelerates as Marketing Efficiency Materially Improves
Customer Growth Accelerates as Marketing Efficiency Materially Improves New acquisition strategy and retail stores deliver strongest new customer growth in four years Marketing Spend (% of revenue) Customer Acquisition Costs ($) New Customers1 (‘000) 56.0% 520 BPTS 21.8% 13.8 77.0 75.0 13.5 221.7 18
Slide 7: H1 FY26 Financial Results
H1 FY26 Financial Results H1 FY26 RESULTS PRESENTATION | 7
Slide 8: H1 FY26 P&L
H1 FY26 P&L A$M H1 FY26 H1 FY25 CHANGE Revenue Revenue 111.9 103.0 +8.7% Cost of sales (72.8) (65.7) 10.7% • Revenue increased 8.7% on PCP with quality of earnings a continuing Gross profit 39.2 37.3 +5.1% focus Gross profit margin 35.0% 36.2% (120 bpts) Employee costs (14.8) (11.6) 27.7% Gross Marg
Slide 9: Balance Sheet
Balance Sheet A$M AS AT 28 DEC 25 30 JUN 25 Cash and cash equivalents 8.2 12.7 Trade and other receivables 6.1 2.6 Inventory 27.9 20.3 Other current assets 3.1 2.7 Other assets (non-current) 64.5 45.5 Total assets 109.8 83.8 Trade and other payables 28.7 22.0 Other current liabilities 19.5 12.4 Othe
Slide 10: Customer-led Strategy Driving Growth
Customer-led Strategy Driving Growth H1 FY26 RESULTS PRESENTATION | 10
Slide 11: All Channels Contribute to Customer & Revenue Uplift
All Channels Contribute to Customer & Revenue Uplift¹ Retail network performing well, benefitting from premium skin and hair brands APP % LOYALTY LOYALTY STORE ONLINE SALES MEMBERS REVENUE BRANDS CATEGORY MIX 35% 509K 78% 300+ Skincare 48% Cost-effective Adore Beauty Growing loyalty member Sticky cu
Slide 12: Rapidly Expanding Store Footprint
Rapidly Expanding Store Footprint Excellent progress on targeted store rollout plans:18 retail stores across the Adore Beauty and iKOU brands; six opened in final months of CY25/Jan 26 Queensland Carindale (Sept ‘25) Chermside (Dec ‘25) Western Australia Carousel (Jun ‘25) New South Wales Booragoon
Slide 13: Adore Stores Evolve Brand & Service Offer
Adore Stores Evolve Brand & Service Offer Skincare & services driving customer engagement • Evolution of Adore Beauty retail format and product offering • In-store offering increased from initial 60 brands in Southland to 120 across all stores, including majority of top 10 best selling cosmeceutical
Slide 14: Strong iKOU Growth Continues
Strong iKOU Growth Continues Benefitting from greater brand awareness and availability • Strong revenue growth across retail, D2C and wholesale channels • Sorrento (VIC) store opened in November, bringing network to six stores across NSW & VIC • H1 operational progress • Brand: Executed a full brand
Slide 15: AI, Automation and Platform Refresh
AI, Automation and Platform Refresh Investing in significant technology projects to lift customer experience and operational efficiency • Platform refresh improving personalisation, search functionality and recommendations • Developed in-house AI functionality that sits across the business • Integra
Slide 16: Operating Efficiency Gains Further Reduce CODB
Operating Efficiency Gains Further Reduce CODB New initiatives driving further CODB efficiency gains Marketing Efficiency • Record marketing efficiency with costs reducing 29.8% over PCP alongside significant customer growth, 8% increase in sessions, and investment in ATL advertising • Advertising R
Slide 17: Site Secured for New National Fulfillment Centre
Site Secured for New National Fulfillment Centre Unlocking material operational efficiency FY27/28+ • Lease signed for new 6,300sqm National Fulfillment Centre (NFC) in Broadmeadows, Victoria • Initial 7-year term with option to renew for a further 10 years • Significant step-up from current 4,000sq
Slide 18: Outlook
Outlook H1 FY26 RESULTS PRESENTATION | 18
Slide 19: Summary: On Track to Achieve FY26 Targets
Summary: On Track to Achieve FY26 Targets FY26 Underlying EBITDA margin guidance of 3-4% on a pre-AASB 16 basis (equivalent to 5-6% under previous reporting methodology per previous guidance) Owned brands expected to account for >6% of Group revenue in FY26 Continued strong new and active customer g
Slide 20: Appendix
Appendix H1 FY26 RESULTS PRESENTATION | 20
Slide 21: Reconciliation of Statutory & Reported Results
Reconciliation of Statutory & Reported Results HY26 Reconciliation HY25 Reconciliation AASB 16 Other Statutory Underlying AASB 16 IKOU Other Statutory $’000 Underlying HY26 Impact Normalisations1 HY26 $’000 HY25 Impact Acquisition Normalisations2 HY25 Total sales 111,942 111,942 Total sales 102,980
Slide 22: Disclaimer
Disclaimer Forward Looking Statements Certain statements made in this release are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Adore Beauty's current expectations, estimates and projections about the industry in which Adore Beauty oper
Slide 23: Adore Beauty Group
ADOREBEAUTY GROUP