- Adore Beauty (ABY) has posted a revenue of $39.4 million for Q3 FY21, up 47 per cent over the prior corresponding period (pcp)
- This was driven by customer retention and strong performance in the skincare and haircare sectors
- Additionally, at the end of the period Adore Beauty had 687,000 active customers, up 69 per cent on the pcp
- The company is on track to deliver FY21 revenue growth in the range of 43 to 47 per cent compared to 38.6 per cent growth in FY19
- Shares in Adore Beauty are down 13.2 per cent and are trading at $3.98
Adore Beauty (ABY) has posted a revenue of $39.4 million for Q3 FY21, up 47 per cent over the prior corresponding period (pcp).
This was driven by customer retention and strong performance in the skincare and haircare sectors.
Additionally, at the end of the period Adore Beauty had 687,000 active customers, up 69 per cent on the pcp.
This growth comes off the back of the online beauty retailer releasing its first half-yearly report as an ASX-listed company in February.
In the half, revenue increased 85 per cent to $96.2 million and active customers grew to 82 per cent to 777,000.
These are respective increases of eight and seven per cent than what was outlined in its prospects.
Adore Beauty also launched its loyalty program in March and sign-ups are ahead of expectations.
“The business is making strong progress on our strategy to leverage our online market leadership to further capture market share in a large and growing market,” CEO Tennealle O’Shannessy said.
“We continue to make disciplined investments in our mobile app, loyalty program, content capabilities, range and adjacency expansion opportunities and private label development,” she added.
Adore Beauty is on track to deliver FY21 revenue growth in the range of 43 to 47 per cent compared to 38.6 per cent growth in FY19.
Shares in Adore Beauty are down 13.2 per cent and are trading at $3.98 at 11:13 am AEST.