Australian eTailer Kogan has released a business update for July 2020, reporting that gross sales grew more than 110% year-over-year (yoy).
The business also reported that gross profit increased more than 160% yoy, while active customers grew to 2,309,000, an increment of 126,000 in July 2020.
The retailer also reported that adjusted EBITDA was more than $10 million for July.
The news follows the eTailer's capital raising exercise where it raised $120 million to help it pursue "value accretive opportunities."
However, the business has also recently been found to have misled consumers during a 2018 sale, in which the ACCC is seeking declarations, injunctions, pecuniary penalties, corrective notices and costs.
Kogan is set to report its FY20 results on 17 August 2020.