Key Highlights

  • Pro forma Revenue rose 29 percent to $90.2 million, 2 percent ahead of the Prospectus forecast
  • Pro forma net profit after tax increased 41 percent to $9.0 million, 5 percent ahead of the Prospectus forecast
  • The store network grew to 109 stores after 22 openings during the year, one ahead of the Prospectus forecast of 108
  • Like-for-like revenue growth was 9.6 percent, ahead of the Prospectus forecast of 8.1 percent

SkinKandy Limited (ASX:SKI), the specialty piercing and jewellery retailer operating across Australia and New Zealand, released its FY26 results for the 52 weeks ended 4 July 2026, marking its first full reporting period as an ASX-listed entity following its initial public offering and listing in May 2026. The Group's results were ahead of the forecasts set out in its Prospectus on both a statutory and pro forma basis.

SK1 shares were trading 2.47% higher at AUD 2.49 at the time of writing on 25 August 2026.

Revenue and Store Network Growth

Pro forma revenue increased 29 percent to $90.2 million from $70.1 million in FY25, and was 2 percent ahead of the Prospectus forecast. Growth was driven by the continued store rollout, with 22 new stores opened during the year taking the network to 109 stores at period end, one ahead of the Prospectus forecast of 108, combined with like-for-like revenue growth of 9.6 percent, ahead of the Prospectus forecast of 8.1 percent and consistent with the rate achieved in FY25.

Profitability and Margins

Pro forma gross profit Margin was 89.2 percent, in line with the Prospectus forecast of 89.3 percent. The Group's cost of doing Business fell to 62 percent of revenue from 65 percent in FY25, contributing to pro forma EBITDA of $24.6 million, up 41 percent on FY25 and 5 percent ahead of the Prospectus forecast. Pro forma EBIT rose 39 percent to $13.8 million, with the EBIT margin expanding to 15.3 percent from 14.1 percent. Pro forma net profit after tax increased 41 percent to $9.0 million, 5 percent ahead of the Prospectus forecast, while underlying Basic Earnings Per Share rose to 9.33 cents from 6.75 cents in FY25. Statutory net profit after tax was $0.6 million, compared with $8.1 million in FY25, though ahead of the Prospectus forecast of a statutory net loss of $0.2 million.

Balance Sheet and Cash Position

The Group ended the period with total cash reserves of $13.8 million, comprising $7.8 million in cash and cash equivalents and $6.0 million in term deposits, with no drawn Debt and Lease liabilities of $27.8 million. Net Assets increased to $44.5 million from $30.5 million, and net tangible assets per security rose to 32.0 cents from 21.4 cents. Pro forma cash conversion was 101 percent, up from 92 percent in FY25, with pro forma Operating Cash Flow of $21.3 million. Capital Investment of $7.4 million funded the 22 new store openings, a new support office and warehouse, and network refits.

FY27 Trade Update and Growth Strategy

The company reported that trading momentum continued into the first 7 weeks of FY27, with unaudited revenue up 22 percent on the prior corresponding period and Gross Profit Margin consistent with FY26. Four new stores have opened since period end, with a further store scheduled for late August 2026, taking the total to 114, and 12 additional store leases approved for FY27 openings. The company is targeting 18 to 20 new store openings across FY27, excluding new international markets, and is progressing preparations for entry into its next international market beyond New Zealand, with openings targeted for the second half of FY27.

Conclusion

SkinKandy's first results as a listed company showed growth across revenue, profit, store numbers and like-for-like sales, with results ahead of the forecasts set out in its Prospectus. The combination of new store openings and improving productivity across the existing network supported margin expansion during the year, and the company has continued this trading momentum into the early weeks of FY27 while progressing plans for further store growth and its first expansion beyond Australia and New Zealand.