Online retailer Kogan.com’s revenue has jumped by 46.1 per cent for the third quarter as customer numbers and the value of transactions continued to grow.
Kogan, which sells products ranging from consumer electronics to insurance and pet accessories, says its gross transaction value rose nearly 50 per cent during the three months to March 31.
The company ended the third quarter with almost 1.3 million active customers, up from 1.17 million in December and cash of $19.3 million.
In a sign the results missed market expectations, shares in Kogan closed $1.64, or 17.8 per cent, weaker at $7.60.
Founder and chief executive Ruslan Kogan says the latest quarterly cash flow statement shows the company’s strong growth since it listed on the share market in July, 2016 is continuing.
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“The business is firing on all cylinders and is performing well across the board,” Mr Kogan told AAP.
He said the company was poised for a strong fourth quarter, which is helped by the increased activity that comes with the end of the financial year.
Kogan.com expanded into offering pet insurance, life insurance and an NBN internet service earlier this month.
This is on top of its existing offering of health insurance, travel insurance and travel deals and an expanded retail products range since its share market launch.
