Adore Beauty delivers a record half, ahead of prospectus forecast

Key H1 FY21 Performance Highlights

•  Revenue of $96.2m was 8% ahead of prospectus forecast of $89.0m2 and up 85% on PCP, driven by strong customer growth and continued high customer retention;
•  Record half with multiple record trading days including Afterpay Day in August, and Cyber Weekend in November, these promotions were 100% brand funded;
•  Active customers increased to 777k, 7% ahead of prospectus forecast and up 82% on PCP3;
•  Gross profit margin of 32.5% was up 1.4 percentage points on PCP, underpinned by product margin expansion; ? EBITDA4 of $5.2m was 58% ahead of prospectus forecast of $3.3m and up 188% on PCP; increasing EBITDA margin from 3.5% in PCP to 5.4%, ahead of prospectus forecast of 3.7%; and
•  $25.9 million cash as at December 31, with no debt