Camplify (CHL) H1 2025 earnings summary

Executive summary

• Revenue for H1 FY2025 declined 17.8% to AUD 19.95 million, with GTV down 26.9% to AUD 65.4 million and EBITDA loss of AUD 6.81 million.

• Net loss after tax increased to AUD 7.12 million, reflecting higher marketing, employee, and insurance costs, as well as platform migration and macroeconomic headwinds.

• Key initiatives included a CFO transition, technical team restructuring, and a cost reduction program that normalized operational costs to AUD 3.35 million annually.

• Strategic focus shifted to operational optimization, technology upgrades, and a membership-first insurance model to drive growth and efficiency.

• PaulCamper platform migration completed, with improved customer engagement and doubled organic traffic post-migration.

Financial highlights

• Gross profit margin decreased to 58.4% from 61.4% due to higher insurance costs and delayed price increases.

• Take rate improved to 30.53% from 25.65% year-over-year, driven by higher membership and AER sales.

• Marketing expenses rose to 27% of revenue, and employee benefits increased to 42% of revenue.

• Closing cash balance was AUD 12.5 million, with AUD 6 million in government receivables.

• Net loss after tax for H1FY25 was AUD 7.12 million, up from AUD 2.99 million in H1FY24.

Outlook and guidance

• H2 focus includes improving PaulCamper performance, cost management, technology upgrades, and launching a new insurance program.

• Expectation of improved cash flow and operational efficiency in H2, with positive cash flow anticipated.

• Anticipated revenue growth in H2, supported by seasonal trends and new product launches.

• Strategic shift to a membership-first model with expanded insurance products and improved margin profile.

• $25.2 million in future bookings (excluding TAP) at period end, supporting H2FY25 performance.