Key Highlights

  • KGN (ASX:KGN): FY26 gross sales rose 12.0% to A$1.0423 billion. On 29 October 2026, KGN shares were priced at A$3.82, and rose 1.06%.
  • Group Revenue increased 4.6% to A$510.7 million.
  • Adjusted EBITDA increased 13.8% to A$41.8 million.

Kogan.com operates online retail and digital subscription businesses in Australia and New Zealand, including Kogan.com and Mighty Ape. FY26 gross sales exceeded A$1 billion, increasing 12.0% to A$1,042.3 million, while statutory group revenue rose 4.6% to A$510.7 million. Gross Profit increased to A$210.9 million, and adjusted EBITDA reached A$41.8 million, compared with A$36.8 million in FY25. Shares were priced at A$3.82 on 29 October 2026, representing a 1.06% increase. The group’s annual results reflect contrasting performance at its Australian online platform and its New Zealand business. At the 29 October 2026 trading reference, shares in KGN (ASX:KGN) stood at AUD 3.82, higher by 1.06%. The following sections cover FY26 gross sales, revenue, adjusted EBITDA, platform operations and the balance sheet.

Group Financial Results

Kogan.com reported gross sales of A$1,042.3 million in FY26, compared with A$930.9 million in FY25, an increase of 12.0%. Group revenue rose 4.6% to A$510.7 million and gross profit increased 11.1% to A$210.9 million. Gross Margin increased from 38.9% to 41.3%. Adjusted EBITDA was A$41.8 million, up 13.8% from A$36.8 million. The statutory result showed net profit after tax of A$11.2 million, compared with a A$39.5 million loss in FY25. Kogan reported cash of A$36.4 million and no external Debt at year-end.

Kogan.com and Mighty Ape Operations

The Kogan.com Business recorded revenue of A$425.2 million, compared with A$366.0 million in FY25, and gross profit of A$184.8 million versus A$156.0 million. Its adjusted EBITDA increased to A$45.1 million from A$36.9 million. Mighty Ape revenue decreased to A$85.6 million from A$122.1 million, with gross profit of A$26.1 million versus A$33.9 million. Mighty Ape recorded an adjusted EBITDA loss of A$3.3 million for FY26, although the presentation reported a positive adjusted EBITDA outcome for the fourth quarter.

Sales Channels and Capital Position

Kogan described a mix of product sales, marketplace services, subscription programs, Advertising and other business lines. The company said its capital-light divisions were increasing their contribution to gross profit, and its presentation identified 73% of group gross profit as originating from exclusive products and services. Kogan stated that A$34.9 million of capital was returned during FY26. Its presentation differentiated the performance of the Kogan.com business from Mighty Ape, including the latter’s program to reduce fixed costs and increase platform-based sales.

The Difference Between Gross Sales and Revenue

Kogan distinguishes gross sales, which capture wider sales activity on its platforms, from recognised revenue in its financial statements. For FY26, gross sales of A$1,042.3 million were 12.0% above A$930.9 million in FY25, whereas group revenue increased 4.6% to A$510.7 million from A$488.1 million. Gross profit was A$210.9 million compared with A$189.9 million, and gross margin improved to 41.3% from 38.9%. The group reported profit before tax of A$18.7 million, compared with a loss of A$32.9 million, and a statutory net profit of A$11.2 million versus a loss of A$39.5 million.

Separate Results for the Two Businesses

Kogan.com itself generated revenue of A$425.2 million, up from A$366.0 million in FY25, and gross profit of A$184.8 million, compared with A$156.0 million. Its adjusted EBITDA was A$45.1 million versus A$36.9 million. Mighty Ape reported revenue of A$85.6 million against A$122.1 million and gross profit of A$26.1 million against A$33.9 million. Mighty Ape’s adjusted EBITDA was a A$3.3 million loss for the full year, but the presentation recorded positive adjusted EBITDA in the fourth quarter. The company also discussed a reduction in Mighty Ape fixed costs and an increase in platform-based sales within that business.

Platforms, Services and Shareholder Capital

The company’s product and service activities include its own inventory, third-party marketplace sales, customer loyalty subscriptions, advertising and other digital services. In its FY26 presentation, Kogan stated that 73% of group gross profit came from products and services available exclusively through the group. The presentation separately highlighted recurring subscriptions and its marketplace, advertising and other capital-light divisions. At year-end, the group reported A$36.4 million in cash and no external borrowings. It also reported A$34.9 million in capital returned during FY26. Those capital figures were presented alongside the A$41.8 million adjusted EBITDA figure, which the company describes as a non-IFRS financial measure.

Kogan.com revenue increased 16.2% to A$425.2 million and its gross profit rose 18.4% to A$184.8 million. In comparison, Mighty Ape revenue declined from A$122.1 million to A$85.6 million, and adjusted EBITDA was negative A$3.3 million. Group gross margin improved to 41.3% from 38.9%. The group reported statutory net profit after tax of A$11.2 million versus a A$39.5 million loss in FY25. At year-end, the company held A$36.4 million in cash without external debt and recorded A$34.9 million in capital returned during FY26.

The financial information and operating descriptions relate to the periods identified in the announcement. Where the company describes plans, objectives or guidance, these remain management statements rather than completed outcomes. Year-on-year comparisons refer to the relevant corresponding period; they are distinct from the one-day share-price movement stated at the beginning of this article.

Key Insights

For KGN (ASX:KGN), Gross sales, revenue and adjusted EBITDA increased in FY26. The group’s online retail model, subscription activity and reported cash position are also relevant to its financial results.