Revenue was ahead of prospectus forecasts by $10.1 million while profits were $849,149 ($400,000 prospectus forecast) for the FY 2016 compared to a loss of $69,590 in the previous year.
Kogan.com listed on the ASX on 7 July and its share price dropped on the first day of trading.
Kogan’s lift in revenue got a boost in the last two months of the financial year from the addition of sales from its purchase of the Dick Smith brand, trademarks, customer database and websites.
Kogan founder and chief executive Ruslan Kogan said delivering results to shareholders that exceeded prospectus forecasts “demonstrated that we are on track to continue to build the Kogan.com business in line with our long term business strategy”.
“Our launch of Dick Smith ahead of schedule demonstrates the capability of our team to rapidly deliver major complex projects, as does our successful launch of Kogan Mobile and Kogan Travel in 2015.
“Following the IPO, we have released the capital constraints on the business, allowing us to aggressively pursue our growth ambitions.
“Today Kogan.com is Australia’s leading pure play online retail website, generating more traffic and Google search queries than its peers. Kogan.com is built on a strong sustainable foundation of brand-equity, efficient ‘next generation’ supply chain, technological expertise and a world class management team,” Kogan said.
Kogan.com had 3.7 million active subscribers at 30 June, up 60.8% from 2015.
Excluding the impact of Dick Smith, subscriber numbers achieved 26.1% organic growth in the six months to June 2016.
Active customer numbers were up 13.0% in total, or 8.2% excluding Dick Smith.