Half Year 2026 Cettire Ltd Earnings Call Transcript
Key Points
- Cettire Ltd (ASX:CTT) achieved a 13% year-on-year sales revenue growth outside the US, reaching $225 million, demonstrating strong market share expansion in newer markets.
- The company reported an adjusted EBITDA of $8.7 million, marking a half-on-half improvement of $20.5 million, showcasing the effectiveness of its profitability-focused strategy.
- Repeat customers now account for 69% of gross revenues, up from 67%, indicating strong customer loyalty and engagement.
- Cettire Ltd (ASX:CTT) maintained a robust balance sheet with $61.4 million in cash and no financial debt, highlighting financial stability.
- The company successfully launched its flagship store on the JD platform in China and introduced Arabic language capabilities, enhancing its localization strategy and market penetration in the Middle East and China.
- Sales revenue decreased by 3% year-on-year to $382.8 million, primarily due to the impact of US tariff changes and softer demand in the region.
- The elimination of the de minimis duty exemption in the US led to increased fulfillment costs, negatively affecting delivered margins.
- New customer additions slowed, reflecting softer demand and a strategic reduction in paid marketing spend.
- The global personal luxury goods market declined by approximately 2% in 2025, posing challenges for Cettire Ltd (ASX:CTT) in a tough luxury market environment.
- The company's auditor highlighted a material uncertainty related to going concern, partly due to a current asset shortfall influenced by reclassification of VAT receivables.
Good morning, everyone, and thanks for joining today's first half FY '26 results call for Cettire. My name is Sam Wells from NWR, and I'm pleased to have with me from the company today Cettire's Founder and Chief Executive Officer, Dean Mintz; as well as Chief Financial Officer, Tim Hume. Both Dean and Tim will spend some time reviewing the ASX results released this morning, including some notable financial and operational highlights. (Operator Instructions) We'll aim to have this call wrapped up within 30 minutes, including Q&A. And thank you, and over to you, Dean.
Thanks, Sam. Good morning, everyone, and thank you for joining Cettire's interim results briefing for the 2026 financial year. Before we begin, I'd like to remind you of the disclaimer statement in our results presentation. That disclaimer also applies to this investor call.
I'm joined today by our CFO, Tim Hume, and together, will take you through the company's results for the 6-month
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