Kogan.com has announced it will write down the goodwill associated with its Mighty Ape brand. This decision follows a poorer-than-expected trading performance and a slower recovery from technical issues that arose after a website upgrade in October 2024. The company also cited weak consumer confidence in New Zealand as contributing to the brand’s challenges. Kogan.com is an Australian online retailer offering a variety of products including consumer electronics, appliances, and homewares. Mighty Ape, acquired by Kogan, is an online retailer based in New Zealand.
The write-down is considered a “prudent measure” and a one-off accounting adjustment, according to an ASX announcement. Kogan.com clarified that the write-down will not impact cash flow or profit measures such as adjusted EBITDA. Despite current headwinds, Kogan anticipates that Mighty Ape will return to positive trading during the second half of FY26.
As of June 30, the goodwill from the Mighty Ape acquisition was valued at $46.3 million. Further details regarding the write-down and overall financial performance will be disclosed when Kogan releases its FY25 financial results on August 25. Investors and stakeholders are advised to review the full financial report for a comprehensive understanding of the company’s position and outlook.
