Shares in online retailer Kogan.com fell nearly 14% in early trade on Tuesday after the company revealed sales had fallen 28%, revenue dropped 32% and the business posted a 26% fall in gross profit for the 2023 financial year. The statutory net profit after tax (NPAT) loss was $25.9 million an improvement on FY22’s $36.2… Read more »
Australian tech company Atlassian was famously started by Mike Cannon-Brookes and Scott Farquhar using $10,000 in credit card debt. The idea has since turned them into multi-billionaires. The NASDAQ-listed venture recently celebrated its 20th anniversary and this week celebrates posting another annual net loss of more than US$600 million (A860m). Atlassian (NASDAQ: TEAM) posted its… Read more »
ASX-listed BNPL Afterpay helped generate an impressive $21 billion in sales in FY21, up 90% on the previous year, thanks to 16 million customers. But the company also did a stellar job growing its losses, which jumped 600%, from a $19.8m statutory loss in FY20 to $156.3 million last financial year. With a $39 billion… Read more »
Ecommerce retailer Kogan.com saw its shares fall nearly 16% after the company reported an 87% drop in net profit after tax in the 2021 financial years to just $3.5 million. Kogan shares (ASX: KGN) lost $2.07 to close at $11.06, after the company reduced margins and ramped up marketing to shift an excess of stock.… Read more »
● Revenue of $26.6M up 38% on FY20 ● GMV of $153.1M, up 35% YoY ● Underlying pro forma EBITDA of $0.0m compared with $(4m) in FY20 ● Positive operating cash flow of $5.5m, ahead of prospectus forecast of $0.1m Casual jobs marketplace Airtasker (ASX: ART) has posted a 38% jump in revenue for… Read more »
Sales at ASX-listed buy now pay later (BNPL) fintech Afterpay passed $20 billion a year ahead of schedule. The company’s (ASX: APT) continued astonishing growth, revealed in the 2021 financial year figures today, comes as the fintech announced a proposed sale and merger with US-listed payments company Square for A$39 billion. Afterpay posted FY21 underlying… Read more »
FY20 global Underlying Sales increasing 112% to $11.1 billion Run rate of over $15b per annum (based on Q4 trading). EBITDA $44.4m, up from Fy19’s $25.7m Net transaction loss $22.2m, down 48% on $42.8m in FY19 Gross loss as a % of underlying sales improved to 0.9% from 1.1% Underlying sales contribution from international markets… Read more »
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