Luxury online platform Cettire has reported a 3 per cent slip in revenue in FY26, with losses tripling on the prior year.
Cettire’s revenues hit $718.4 million, down from $742.1 million in FY25, with active customers dropping from 657,000 in FY25 to 605,000 in FY26. Cettire noted that active customers returned to growth in the fourth quarter.
At the bottom line, Cettire reported a statutory net loss of $8.5 million, which is down from $2.6 million in FY25.
The company held $27.9 million in cash by FY26 end, down from $37.1 million in FY25, with no financial debt.
Cettire founder and CEO Dean Mintz reiterated past commentary, saying the global luxury market continued to face headwinds through FY26, but added there are signs the sector is stabilising.
“During the period, US tariff changes, including the impact from the removal of the de minimis exemption, contributed to ongoing challenges in our largest market,” Mintz said.
“In the second half of FY26, sentiment in high-growth Middle Eastern countries was impacted by the ongoing conflict in the region. Notwithstanding this, the overall business was broadly stable year on year, supported by strong growth in regions outside of the US, which grew 14 per cent year on year, further diversifying our global business.”
Despite the bottom-line slip, Cettire reported its underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew to $17.1 million, up from $0.3 million in FY25.
Adjusted EBITDA excludes share-based payments, unrealised FX losses or gains, or losses or gains on FX contracts and other items.
Mintz said this result demonstrates the company’s ability to leverage the benefits of its flexible cost base and agile business model to drive profitability through cycles and remain self-funding.
Cettire also shared an early FY26 trading update, reporting a circa 22 per cent lift in gross revenue year-to-date, off the back of improved trading in the fourth quarter of FY26. Growth ex-USA has exceeded this rate over the same period.
According to Cettire, this growth was supported by improving trading conditions and the company’s ongoing focus on geographic diversification. That includes pushes into mainland China this year.
“We will continue to operate the business to maximise revenue growth with an ongoing emphasis on profitability into FY27,” Mintz said. “As we further cycle the impact of US tariff changes, we expect to see continued improvements in revenue momentum in the US market, while outside the US we are encouraged by the growth we have seen in Q4 FY26 and into the early stages of FY27.
“With a business model that is highly flexible and agile, we are extremely well positioned to quickly adapt to changing market conditions in order to leverage opportunities to grow profitably and increase market share globally.”