Kogan.com has posted a net loss of $39.5 million for fiscal 2025 after recognising a $46.3 million impairment against its underperforming New Zealand subsidiary, Mighty Ape.
The result was further impacted by $5.6 million in equity-based compensation for senior executives and $800,000 in unrealised losses on currency contracts.
On governance, the company has appointed Francine Ereira, Ronn Bechler and Gary Levin to its board, effective 26 August. Long-serving directors Harry Debney and chairman Greg Ridder will step down in due course. Ridder will remain as chair for at least a year following his re-election at the November annual general meeting to oversee an orderly handover, with a transition to a new chair expected around the 2026 AGM. Both Ridder and Debney have served on the board for over a decade, predating Kogan’s 2016 listing.
Revenue for the year rose 6.2% to $488.1 million, supported by growth in its active customer base, which reached 3.5 million. The company also declared a final dividend of 7 cents per share.
Shares resumed trading following a pause requested earlier in the session and were down 6% at $3.79 at 10:45 am AEST.