Kogan.com Ltd (KGN) has reported a strong first half, surpassing expectations across key financial metrics. According to RBC Capital Markets analyst Wei-Weng Chen, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 23 per cent, while adjusted profit was 28 per cent higher than consensus estimates. Kogan.com is an Australian online retailer offering a variety of products and services. The company also provides internet service and mobile plans.
However, early trading in the second half of FY26 reveals a revenue growth of 7.8 per cent, which is below market expectations of 13.8 per cent. This is primarily due to a weaker performance from Mighty Ape, which experienced a 32.2 per cent decline in January. In contrast, Kogan.com itself saw a surge of 18.2 per cent during the same period.
RBC Capital Markets has indicated that the slowdown at Mighty Ape was anticipated and is considered a one-off event. The firm anticipates that the market will not be overly concerned by this temporary setback. Kogan has reaffirmed its full-year FY26 guidance, projecting adjusted EBITDA margins of 6 to 9 per cent. The company also expects Mighty Ape to return to positive performance in the second half of the financial year.
Following the release of this information, shares in Kogan experienced a rise, trading up by 5.8 per cent. The company’s overall positive first-half results appear to have bolstered investor confidence, despite the challenges faced by Mighty Ape in early 2026.
