Ann: Kogan.com - April 2024 Business Update, page-8

I have no idea where you got those figures from. Note that they spent $34M in the buyback. Plus $11M payment for the Mighty Ape Tranche 4 payment.

Platform-based Sales
1 contributed 61.6% of Gross Sales in 3QFY24.
○ The new Advertising Platform is continuing to scale, generating $0.8 million in Revenue
during the period.
● Group Active Customers were 2,660,000 as at 31 March 2024, consisting of 1,950,000 for
Kogan.com and 710,000 for Mighty Ape.
● Kogan FIRST Subscribers
2
totalled over 472,000 as at 31 March 2024, compared to over 407,000 as
at 31 March 2023. Kogan FIRST membership cost was increased from $99 to $129 on 8 April 2024.
● The Group’s return to strong profitability continued:
○ Adjusted EBITDA
3 was $9.0 million (3QFY23: $4.4 million)
○ Adjusted EBIT
3 was $5.3 million (3QFY23: $0.2 million)
● The Company’s Balance Sheet remains strong, underpinned by:
○ Cash totalling $34.1 million, with no external debt, as at 31 March 2024, compared to net cash
(after loans & borrowings) of $49.1 million as at 31 March 2023. This result was achieved after
completing the Mighty Ape Tranche 4 payment (being the final tranche) of $10.9 million and
investing $33.8 million into the Company’s Share Buy-Back program over the past 12 months.
○ Inventories totalling $71.1 million as at 31 March 2024, comprising $61.1 million in-warehouse
and $10.0 million in-transit. The inventory balance represents a YoY reduction of 9.2%.