Cettire Limited (ASX:CTT) posted a sharp improvement in profitability for the year ended June 30, 2026, with adjusted EBITDA rising to $17.1 million from just $300,000 in FY25, reflecting margin expansion to 2.4% of sales. The online luxury goods retailer reported gross revenue of $953.4 million, essentially flat versus $975.3 million in the prior year, while sales revenue declined 3% to $718.4 million.
The company’s share price rose 4.17% to A$0.25 following the announcement, though it remains well below its 52-week high of A$0.96. Cettire ended the fiscal year with $28 million in cash and no financial debt, down from $37 million in FY25. Management expects to receive approximately $9 million in tariff refunds under the IEEPA in FY27.
Cost reductions were a key driver of the earnings improvement. Paid acquisition expenses fell to 4.6% of sales from 7.1% in FY25, while brand investment dropped to $3.3 million from $6.7 million. Customer acquisition costs declined to $84 per customer from $119, and average order value rose 10% to $904. Repeat customers accounted for 68% of gross revenue, unchanged from the prior year, with their average spend reaching $994 per order.
Geographic performance diverged sharply. Emerging markets contributed 44% of gross revenue, up from 37% in FY25, with sales growth of 17% year-over-year. Established markets, including the U.S. at 41% of revenue and Australia at 7%, declined 13% in aggregate. The company’s product portfolio expanded to 360,000 published items, with access to over 500,000 products through more than 2,500 brands and suppliers.
The global personal luxury goods market contracted by about 2% in 2025, according to industry estimates, but is projected to rebound with 2-4% growth in 2026. Cettire’s early FY27 performance showed a 22% year-to-date gross revenue increase through August 24, 2026, alongside a positive adjusted EBITDA in July 2026.
Statutory figures underscored the gap between reported and adjusted metrics. Statutory EBITDA was $4.9 million, while adjusted EBITDA was $17.1 million after accounting for $3.9 million in share-based payments, $6.1 million in unrealized FX impacts, and $2.2 million in other items. Statutory net profit after tax remained negative at $8.5 million, though adjusted net profit was positive at $3.0 million.
