Temple & Webster Group (TPW) Trading update summary

Market and trading environment

• Consumer confidence has reached historic lows, impacting short-term demand.

• The long-term opportunity in the $40 billion furniture, homewares, and home improvement markets remains unchanged.

Profitability and financial outlook

• Margin optimisation initiatives led to a record EBITDA of ~$2.5m in April, the most profitable April in company history.

• FY26 revenue is expected to reach $665–675m (up 11–12% vs pcp), with EBITDA of $20–22m (up 6–17% vs pcp), with profitability stepping up in Q4 FY26.

• Current margin run-rates suggest FY27 EBITDA could nearly double to ~$40m, even in a low growth scenario.

Strategic initiatives and operational changes

• Implemented new promotional cadence, repriced catalogue, secured more supplier support, restructured marketing, and slowed fixed cost growth.

• These actions have established a clear path to doubling EBITDA in FY27 despite economic headwinds.