Kogan has released its FY20 results, reporting that gross sales increased 39.3% on the prior year to $768.9 million.
The business also reported revenue of $497.9 million, up 13.5% on FY19, while gross profit also increased 39.6% to $126.5 million.
The eTailer also reported an increase in gross margin of 4.7 percentage points to 25.4% compared to 20.7% in FY19.
Kogan's adjusted EBITDA was up 57.6% to $49.7 million and NPAT grew 55.9% to $26.8 million for the period.
The business ended the financial year with inventories of $112.9 million with $32.5 million in transit and $80.4 million in warehouse - with more than 99% of inventory in the warehouse less than 365 days old.
Kogan founder and CEO Ruslan Kogan said that despite the challenging conditions, the business was able to adapt to continue to serve its customers.
"The second half of FY2020 was an extremely turbulent and challenging period for the world, the country and the Company.
"We have built a diversified, resilient business over many years, which enabled us to help Australians in their time of need.
"In the midst of this crisis, our teams mobilised all our resources to ensure all of our supply chains remained open, our logistics operations continued functioning, and in-demand products remained available for speedy delivery," he said.
The eTailer puts its FY20 success down to its growth in active customers, the strength of Kogan Marketplace, its exclusive brands and the increase in memberships of its Kogan First loyalty program.
The business' active customers grew 35.7% in FY20, ending the period with 2,183,000 active customers.
Meanwhile, Kogan's exclusive brands achieved revenue growth of 26.4% and gross profit growth of 43.7%, contributing 51.3% to overall gross profit in FY20.
Kogan Marketplace saw gross sales increase 71.2% in the second half of the financial year compared to 1HFY20.
Ruslan Kogan added that Australian shoppers have shifted their behaviour during the pandemic.
"There is a retail revolution taking place as more and more shoppers learn about the benefits of eCommerce.
"We're seeing record numbers of first-time customers, who then go on to make repeat purchases at a 40% fast pace than previously.
"For us this is a very exciting trend that shows once customers learn about shopping online, they change their ongoing behaviour.
"Once someone discovers the benefits of online shopping, I struggle to see why they would ever go back to the old way of doing things.
"After almost 15 years of preparation, the revolution occurring in retail represents a significant opportunity for Kogan," he said.
Looking ahead, the business aims to continue to grow Kogan Marketplace and its active customers as well as expanding its exclusive brands and third-party brands.
During FY20 Kogan acquired furniture retailer Matt Blatt and the business said it will continue to review acquisition opportunities in the future.