Mad Paws Holdings (ASX:MPA) reported $7m in revenue for Q1 FY25, a slight 2% decline compared to the same period last year. Excluding underperforming brands Sash and Waggly, the company saw a 10% revenue rise, signalling resilience in core operations.
The company continues to improve its cash position, achieving a breakeven in Group Cash EBITDA—an 80% improvement year-on-year. Key segments like the Marketplace grew by 12%, contributing to a $0.8m cash EBITDA with a 41% margin, a figure boosted by increased booking values and strong results from a new marketing campaign launched in August.
CEO Justus Hammer expressed optimism: “Our focus on profitability has paid off, with Cash EBITDA break-even this quarter. As we approach our peak growth period, we’re excited by the initial results from our marketing push, which drove a 19% increase in new customers in October.”
While ecommerce revenue declined by 7% compared to last year, the exclusion of the underperforming brands resulted in a 10% rise. The above-the-line media campaign, targeting Melbourne and Brisbane, has been instrumental in reversing earlier trends. A further campaign phase will roll out in November across Sydney and Brisbane.
Mad Paws has also appointed Highbury Partnership to explore potential external interests in its business.