Adore Beauty Group Limited (ADBGF) Q2 2026 Earnings Call Transcript

SA Transcripts158.57K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Adore Beauty Group Limited (ADBGF) Q2 2026 Earnings Call February 23, 2026 6:30 PM EST Company Participants Sacha Laing - Chief Executive OfficerMarcus Crowe - CFO & Joint Company Secretary Conference Call Participants Leo Armati - Bell Potter Securities Limited, Research Division Presentation Operator Thank you for standing by, and welcome to the Adore Beauty Group H1 FY '26 Results Conference Call. [Operator Instructions] I would now like to hand the conference over to Mr. Sacha Laing, CEO. Please go ahead. Sacha LaingChief Executive Officer Thank you. Good morning, everybody. My name is Sacha Laing, CEO of Adore Beauty Group. I'm joined today by our new CFO, Marcus Crowe. Thank you for joining us today as we present Adore Beauty's results for the 26 weeks to the ending 28th of December 2025, and we look forward to meeting many of you over the next few days. The group has had a strong start to FY '26 with our maturing omnichannel strategy delivering customer revenue and profit growth in a challenging retail environment. Record underlying profit was driven by operating leverage, disciplined cost management and growing owned brands. Highlights of our half 1 FY '26 results include record underlying EBITDA of $4.1 million on a pre-AASB 16 basis, up 14.5% over the previous year at a margin of 3.7%. This is equivalent to 5.5% under the previous reporting methodology and was in line with our guidance. Marcus will provide more detail on the change in EBITDA reporting methodology later on. Revenue of $111.9 million was up 8.7% compared to the prior corresponding period, and we saw accelerated new customer growth, up 21.8% on the prior year. Gross margin of 35% reflected a strong Black Friday and November, December trading period as we continue to reset our promotional calendar and focus on quality of earnings throughout the