Key Highlights

  • KOA (ASX:KOA): FY26 Revenue was A$332.3 million, up 20.1% on a reported basis. On 29 October 2026, KOA shares were priced at A$5.54, and rose 1.47%.
  • Pro forma EBITDA rose 139.2% to A$27.9 million.
  • The group reported A$71.2 million in net cash and no Debt at year-end.

The Koala Company sells mattresses, sofa beds and other furniture through its digitally focused consumer Business spanning Australia, Japan, the United States and the United Kingdom. FY26 revenue reached A$332.3 million, compared with A$276.7 million in FY25, and pro forma EBITDA rose to A$27.9 million from A$11.7 million. The business reported a gross Margin of 65.3% and year-end net cash of A$71.2 million without debt. On 29 October 2026, 47%. Regional trading, changes to its product assortment and international expansion formed part of the group’s operating activity during the reporting period. At the 29 October 2026 trading reference, shares in KOA (ASX:KOA) stood at AUD 5.54, higher by 1.47%. The following sections cover FY26 revenue across four markets, profit margins, cash generation and product expansion.

Revenue, Margins and Profitability

The Koala Company reported FY26 revenue of A$332.3 million, compared with A$276.7 million in FY25, an increase of 20.1% on a reported basis and 24.4% in constant currency. Pro forma EBITDA reached A$27.9 million, up 139.2% from A$11.7 million, while statutory EBITDA increased to A$22.4 million from A$7.4 million. Statutory net profit after tax was A$24.6 million, compared with a A$4.6 million loss in FY25. Gross margin increased 2.9 percentage points to 65.3%, and contribution margin rose 2.2 percentage points to 26.5%. Cash from operations after Lease liabilities was A$28.6 million.

Australia, Japan and US Results

Australian revenue increased 10.7% to A$166.7 million, with gross margin of 61.8% and contribution margin of 29.8%. Japan recorded A$89.4 million in revenue, up 23.5% in local currency; its gross margin reached 68.1% and contribution margin increased to 28.6%. United States revenue rose 67.6% in local currency to A$74.9 million. The US business reported gross margin of 69.8% and Gross Profit of A$52.3 million, up 68.4%. Koala also entered the United Kingdom and introduced products across its sleep and sitting furniture ranges.

Early Trading and Product Development

Koala said ordered revenue rose 27% year on year in constant currency, or 20% in reported Australian dollars, for the eight weeks to 23 August 2026. Its product program includes next-generation upgrades, an expanded sitting furniture range and a Pantone collaboration. The group identified Brand development and possible further geographic expansion as priorities. It described its four current markets as representing an estimated A$52 billion addressable opportunity across mattresses and sitting furniture. At 30 June 2026, Koala reported A$71.2 million in net cash and no debt.

How the Reported Earnings Measures Differ

The results separate reported statutory measures from pro forma earnings. Statutory EBITDA of A$22.4 million compares with A$7.4 million in FY25, while pro forma EBITDA of A$27.9 million compares with A$11.7 million. The pro forma calculation adjusts for Transaction Costs connected with the March 2026 listing and an earlier attempted listing, together with estimated and actual listed-company costs. Koala reported pro forma EBITDA margin of 8.4%, compared with 4.2% a year earlier. Its contribution margin amounted to A$88.0 million, compared with A$67.1 million, while statutory EBIT was A$17.4 million against A$2.9 million in FY25.

Individual Market Operating Results

Australia contributed A$166.7 million in revenue, with gross margin of 61.8% and a contribution margin of 29.8%. Japan reported A$89.4 million of revenue and a 68.1% gross margin, with a 28.6% contribution margin. In Japan, the company referred to Demand for mattresses and sofa beds, while reporting 38.0% growth in contribution profit. US revenue was A$74.9 million, up 67.6% in local currency, and the US gross margin was 69.8%. The release also reports US gross profit of A$52.3 million, up 68.4%. These local-currency growth rates should not be conflated with the group’s reported Australian-dollar revenue growth.

Product Releases and Opening-Year Trading

Koala reported the launch of new or updated products across the sitting-furniture and sleep categories, as well as its entry into the United Kingdom market. The company also referred to a global Pantone collaboration and plans to continue upgrading products within its existing range. For the eight weeks ended 23 August 2026, ordered revenue grew 27% in constant currency and 20% in Australian-dollar terms compared with the equivalent prior-year period. The group reported A$28.6 million in operating cash after lease liabilities for FY26 and ended the period with A$71.2 million of net cash and no debt. Its presentation characterised four markets as addressing an estimated A$52 billion opportunity.

Revenue in the Australian business increased 10.7% to A$166.7 million, with its contribution margin reaching 29.8%. Japan recorded A$89.4 million of revenue, up 23.5% in local currency, and a contribution margin of 28.6%. The United States delivered A$74.9 million in revenue, a 67.6% increase in local currency. Across the first eight weeks to 23 August 2026, ordered revenue increased 27% year on year in constant currency, or 20% in reported Australian dollars. The company identified range upgrades, sitting furniture and additional international markets among its operational priorities.

Key Insights

For KOA (ASX:KOA), Revenue increased across Koala’s markets and pro forma EBITDA grew in FY26. The operating picture also includes margin changes, net cash at year-end and expansion into the United Kingdom.