ASX-listed online retailer Temple & Webster has released its half-year report for the period ending 31 December 2023. The company reported a revenue of $254m for the half, marking a 23% increase, driven by growth in repeat and first-time customers. EBITDA for the half was $7.5m with an EBITDA margin of 2.9%, at the top end of full year guidance (1-3%). The company had a closing cash balance of $114m and no debt as at 31 December 2023.

Trading in the second half started strong, up 35% vs the previous corresponding period (1st Jan to 11th Feb). The business crossed the 1 million active customers milestone for the first time in February 2024. Temple & Webster has outlined a strategy to target annual sales of $1b+ within 3-5 years, focusing on five key strategic priorities.

"Temple & Webster delivered a record half, with revenue up 23% to $254m. This was in the face of some of the toughest headwinds to our category we have ever seen due to the current economic conditions. Pleasingly, our growth was driven by both first-time customers and repeat customers, which led to us crossing the 1 million Active Customer mark in February this year. This means that our amazing range, great value proposition and incredible service has resonated with 1 million Australians in the last 12 months." said Mark Coulter, CEO of Temple & Webster.

The company's CFO, Mark Tayler, has announced his intention to step down from his role after eight years. He will remain with the company, focusing on investor relations and driving the Group's broader growth strategy. The Board has commenced a search process for a new CFO.

"Working as the CFO of Temple & Webster has been an incredible journey. Helping steer an amazing team through once-in-a-lifetime challenges, to emerge in the market leadership position we hold today, has been very rewarding. I'm excited to be staying with the company and helping it achieve the next big milestone of $1 billion in sales." said Mark Tayler.

"On behalf of the Board, the co-founders and the Tempster team, I'd like to extend our thanks to Mark for his exceptional contribution and commitment over the past eight years as Chief Financial Officer. He has been an instrumental part of Temple & Webster's success as we have grown to become Australia's largest pure play online retailer of furniture and homewares, and a great business partner to myself. Importantly, Mark is not going anywhere, so we will still get to benefit from his insights and knowledge." added Mark Coulter.