Kogan Mobile customer base up 41% in Q3

Meanwhile, Kogan.com's overall active customer base went up by 23% year on year.
Written by Campbell Kwan, Contributor

Kogan.com has announced its third-quarter results for FY19, ended 31 March, reporting a 9.5% growth in revenue compared to the same period in FY18.

Kogan Mobile's active customer base went up by 40.6% year on year, while Kogan.com's active customer base also experienced an uptick. The company reported an overall 23% increase year on year to almost 1.6 million active customers, compared to the 1.28 million active customers in Q3 of FY18.

"The millions of Aussies that visit Kogan.com every month continue to benefit from our ongoing investments in our platform and nationwide logistics capability that enhances the user experience across our portfolio of businesses," Kogan said.

Kogan Internet, which is less than a year old, increased its active customer base by 78.7% compared to the previous quarter, attributing the uptick to promotional activity.

The company also experienced gross profit growth of 28.4% year on year, while its earnings before interest, tax, depreciation, and amortisation (EBITDA) was 96.4%, and 81.7% if the prior period's positive impact is not included. The 96.4% EBITDA figure is an increase of 15% compared to the same period in the year prior.

Meanwhile, its gross transaction value -- across the retail, mobile, internet, marketplace, insurance, and travel segments -- increased by 17.5% year on year. Its operating costs also went up by 4.4% year on year.

Kogan.com also announced two new segments: Kogan Energy Compare and Kogan Cars. Kogan Energy will be the company's first entry into the energy market and will initially provide an energy comparison tool enabling customers to upload an existing bill to see if any savings are available. With Kogan Cars, the company has plans to secure new cars while also allowing customers to trade-in cars. It has not provided details as to how the cars will be used.

In releasing the quarterly financial results, Kogan said its focus has been growing its active customer base rather growing revenue.

Kogan Mobile expanded its offerings to New Zealand in June last year, using the Vodafone NZ network for coverage after signing a partnership agreement.

"In Australia, Kogan Mobile has been delivering on its promise to save Aussies more of their hard-earned money, and hundreds of thousands of customers have already migrated to Kogan Mobile in Australia over the past two years," Kogan executive director David Shafer said at the time.

Kogan.com went public in July 2016.


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