Kogan.com Ltd (KGN) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. We're just waiting for the participants to be joined to the Zoom webinar. Give us a few more seconds. Okay, ladies and gentlemen, welcome to the Kogan first half results for FY26. This morning we are joined by Ruslan and David and we will begin with a short presentation and this will be followed by Q&A. Just a reminder that the Q&A will be via the Q&A function in the Zoom webinar. If you could please submit your questions. Handing over now to Ruslan and David. Good morning everyone and thank you for joining us for the Kogan Group's first half FY26 results presentation. It's a pleasure to be here with David Shafer, our CFO, COO and Executive Director. This morning we'll take you through the company's results for the first half of FY26 which demonstrated the strength of the Kogan.com platform. We delivered growth, strong cash generation and improved operating leverage, with Kogan.com once again leading the group's performance. At the same time, meaningful progress was made in optimising MightyApe, with the foundations now firmly in place to support a return to sustainable profitability under our one-group strategy. To begin, let's dive straight into the highlights for the half. The Kogan Group results are split into two reporting segments, Kogan.com and Mighty Ape. Kogan.com is firing on all cylinders. We drove gross sales past half a billion, growing 21% on the prior corresponding period, while revenue grew by 17%. And we didn't just grow sales, we also expanded our profitability. The top line growth translated into $27.6 million in adjusted earnings, an 18% increase on the prior corresponding period. You can see the benefit of our operating leverage, with adjusted earnings margins expanding to 11.9%. Regarding Mighty Ape, we are seeing good progress. Th...