Answear.com (ANR) Q2 2025 earnings summary

Executive summary

• Returned to profitable growth in H1 2025, with revenue up 19% YoY to PLN 751.9 million and EBITDA up 544% YoY, driven by premiumization and operational efficiency.

• Net profit reached PLN 6.5 million, reversing a net loss of PLN 21.9 million in H1 2024.

• Operating profit improved to PLN 18.3 million from a loss of PLN 16.9 million YoY.

• Active customers grew 18.3% YoY to 2.57 million, with mobile visits share rising to 88.6%.

• Cash flow from operations was negative at PLN -11.5 million, down from PLN 11.5 million in H1 2024.

Financial highlights

• H1 2025 revenue reached PLN 751.9m (+19% YoY), with Q2 2025 revenue at PLN 399.3m (+16% YoY).

• EBITDA for H1 2025 was PLN 30.2m (+544% YoY); Q2 2025 EBITDA was PLN 20.3m (+301% YoY).

• Net profit in H1 2025 was PLN 6.5m, a 130% YoY increase; Q2 2025 net profit was PLN 2.8m, up 116% YoY.

• Gross margin improved by 1.7pp YoY to 41.7% in H1, with a 2.7pp increase in Q2; gross profit from sales at PLN 24.5 million versus a loss of PLN 14.8 million in H1 2024.

• Basic and diluted EPS for H1 2025 were PLN 0.34, compared to PLN -1.15 in H1 2024.

Outlook and guidance

• Continued focus on premiumization, brand awareness, and operational efficiency to sustain growth and profitability.

• Ongoing optimization of marketing spend and digital campaigns planned for Q3 2025.

• A new incentive program for 2025-2027 ties share awards to EBITDA and share price targets, with up to 510,000 new shares available.

• No dividend was paid in H1 2025.