Adore Beauty witnessed higher revenue in the last fiscal year as the number of returning customers increased.
The skincare and cosmetics retailer delivered annual unaudited revenue of $195.7 million in the year ending June 30, up 7.4 per cent.
The company saw a record number of returning customers – 519,000, up by 5.8 per cent year on year. Moreover, active customers grew 1.6 per cent to 814,000.
Adore Beauty expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of 2.2 per cent to 2.5 per cent.
“Adore Beauty continues to deliver revenue and active customer growth, even as cost-of-living pressures impact consumer sentiment and trading conditions more broadly,” said Tamalin Morton, CEO.
“Our solid performance over FY24 has reaffirmed the resilience of both our business and the beauty and personal care category, and we continue to focus on meeting customer needs while growing both sales and profitability.”
The company will publish its audited financial results on August 26.
Meanwhile, Adore Beauty said it is on track to complete its acquisition of Ikou on July 31. The first Ikou products are expected to be available on Adore Beauty’s platform in August.
The company is also searching for a new CEO to replace Morton, who will transition into a consulting role after September.
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