Temple & Webster Group (TPW) H1 2026 earnings summary

Executive summary

• Revenue grew 20% year-over-year to AUD 376 million ($375.9m), reaching a record 2.9% market share, with strong momentum in Home Improvement and Trade & Commercial segments and active customers up 14% to approximately 1.4 million.

• EBITDA was AUD 14.9 million (4.0% margin, excluding New Zealand start-up costs), and free cash flow reached AUD 23 million.

• Cash balance increased to AUD 161 million as of 31 December 2025, with no debt.

• New Zealand business generated over AUD 1 million in sales and 3,000+ orders within four months of launch, validating international scalability.

• Exclusive and private label products accounted for 49% of revenue, up from 45% last year.

Financial highlights

• Delivered margin was 30.5%, within the 30%-32% target range, and gross margin was 31.4%, down from 34.0% year-over-year due to increased promotional activity.

• EBITDA (excluding NZ) was AUD 14.9 million (4.0% margin); net profit after tax was AUD 5.8 million, down 35.8% year-over-year.

• Free cash flow for H1 FY26 was AUD 23 million, and cash on hand increased to AUD 161 million.

• Fixed costs as a percentage of revenue declined to 9.4%, a 110 basis point improvement year-over-year.

• Basic EPS was 4.81 cents, down from 7.57 cents in the prior period.

Outlook and guidance

• FY26 EBITDA margin guidance remains at 3%-5%, including New Zealand investment.

• Delivered margin expected to remain within 30%-32% for the full year, with further marketing efficiencies anticipated.

• Strategic goal to reach $1 billion in annual revenue by FY28 remains on track.

• New Zealand investment expected to total AUD 2-3 million for FY26, with positive early results.

• Ongoing share buy-back program with capacity to repurchase over 11 million shares.