Cettire (CTT) Q1 2025 TU earnings summary

Executive summary

• Achieved profitable Q1 FY25 growth with sales revenue of $155.0 million, up 22% year-over-year, amid softer global luxury demand.

• Focused on optimising operations and increasing profitability, with margin of 17% despite heightened promotional activity.

• Improved profitability throughout the quarter, with September adjusted EBITDA margin exceeding 5%.

Financial highlights

• Adjusted EBITDA of $2.0 million, an improvement of $1.6 million from Q4 FY24.

• Net cash balance at period end was approximately $66 million, up from $59 million in Q1 FY24.

• Marketing investment reduced to around 8% of sales revenue, supporting margin improvement.

Outlook and guidance

• Underlying demand for luxury expected to remain resilient and improve over the next 6-12 months.

• Confident in continued profitable growth and global platform scaling, supported by a growing total addressable market.