Highlights

  • Temple & Webster (ASX:TPW) reported record FY26 Revenue of A$664.6 million, up 10.6% year on year.
  • Underlying EBITDA (excluding foreign exchange impacts) increased 28% to A$25.9 million.
  • Exclusive product lines and adjacent businesses contributed A$117 million in revenue during FY26.
  • The company is targeting FY27 EBITDA of A$33–40 million.

Temple & Webster (ASX:TPW) reported FY26 results showing record revenue growth, improved underlying profitability and continued expansion across exclusive products and adjacent categories. The company is focused on returning to higher top-line growth while maintaining operating efficiency and Balance Sheet flexibility.

What happened

Temple & Webster released its FY26 full-year results on 19 August 2026, reporting record revenue of A$664.6 million, up 10.6% compared with FY25.

The company delivered EBITDA of A$21.9 million, up 16.6% year on year, while Underlying EBITDA excluding foreign exchange impacts increased 28% to A$25.9 million.

Underlying EBITDA Margin improved to 3.9% from 3.4% in FY25.

Management attributed the improvement to margin optimisation initiatives, including improved Marketing efficiency, inventory management, supplier negotiations and growth in exclusive product lines.

The company reported continued progress across strategic priorities, with exclusive product lines and adjacent businesses contributing more than A$100 million in annual revenue during FY26.

Temple & Webster also announced that new Chief Executive Officer Susie Sugden has commenced, with further strategy details expected at the Annual General Meeting and H1 FY27 results briefing.

The numbers investors need to know

Temple & Webster’s FY26 revenue increased to A$664.6 million from A$600.7 million in FY25.

Delivered margin increased 5.5% to A$201.0 million, while EBITDA increased to A$21.9 million from A$18.8 million.

Underlying EBITDA excluding foreign exchange impacts increased to A$25.9 million from A$20.2 million, reflecting a 28% increase.

The company reported Operating Cash Flow of A$24 million during FY26 and maintained a strong balance sheet.

Cash and cash equivalents stood at A$122.7 million at 30 June 2026, compared with A$144.3 million in FY25, after A$30 million was deployed on share Buybacks during the year.

Operational metrics included:

  • Active customers of approximately 1.3 million, up 5% year on year.
  • Revenue per active customer of A$494, up 8%.
  • Repeat customers representing 62% of total orders, compared with 59% in FY25.
  • Exclusive products representing approximately 51% of revenue, compared with 45% in FY25.

Home improvement revenue increased 39% to A$59 million, while Trade & Commercial revenue increased 16% to A$56 million.

Business outlook and key considerations

Temple & Webster is targeting FY27 EBITDA of A$33–40 million, representing growth of approximately 50% to 80% compared with FY26.

The company’s strategy is focused on returning to double-digit revenue growth through expansion in furniture, homewares, home improvement and New Zealand operations.

The company reported that year-to-date revenue was down 13% compared with the prior corresponding period, while contribution margin dollars increased 10%.

Key areas to monitor include customer Acquisition costs, marketing efficiency, exclusive product growth, home improvement expansion and progress towards FY27 Earnings targets.

Bull case

Temple & Webster has continued growing revenue while improving underlying profitability through operational initiatives.

The company’s asset-light Business model, increasing exclusive product contribution and growing adjacent categories provide multiple pathways for future expansion.

The customer base remains sizeable, with approximately 1.3 million active customers and repeat customers accounting for 62% of orders.

A strong balance sheet with A$122.7 million in cash and no Debt provides flexibility to invest in technology, artificial intelligence, product expansion and customer acquisition.

Bear case and risks

Temple & Webster remains exposed to discretionary consumer spending conditions, particularly in furniture and home-related categories.

Revenue growth slowed during the second half of FY26, and the company’s FY27 targets depend on improving top-line growth while maintaining margins.

Competitive pressure from online and traditional retailers remains a key consideration.

Additional risks include marketing cost inflation, consumer Demand changes, execution of expansion strategies and the ability to achieve targeted EBITDA growth.

What comes next

The next key milestones include the Annual General Meeting and H1 FY27 results briefing, where management is expected to provide further details on its strategy to return to double-digit top-line growth.

Investors will monitor revenue trends, contribution margins, customer growth, exclusive product performance and delivery against FY27 EBITDA guidance.

Conclusion

Temple & Webster (ASX:TPW) delivered FY26 revenue growth, improved underlying profitability and expanded its contribution from exclusive products and adjacent categories.

The company enters FY27 with a strong balance sheet and a focus on returning to higher revenue growth. The key challenge will be converting operational improvements into sustained top-line expansion while maintaining margin discipline.