Temple & Webster continues sales growth amid profit decline

Online furniture retailer Temple & Webster (T&W) is continuing to see momentum in its sales as the company is now looking to become the ‘top-of-mind’ brand in its industry.

For the first half of the financial year 2026, T&W saw revenue grow by 19.8 per cent on the year prior, and EBITDA across the same period increased by 2.2 per cent. The adjusted EBITDA for the period totalled $14 million.

The half-year revenue of $376 million was a key step in the company’s strategy to reach $1 billion in revenue by 2028, T&W said.

“Our focus for the second half remains unchanged: to grow revenue and take market share as fast as we can, whilst delivering on our stated margin objectives,” Mark Coulter, CEO, said.

T&W’s active customer count has increased by a further 14 per cent from the first half of FY2025, marking the fourth consecutive half-year of growth in this area.

The company began shipping to New Zealand in September 2025. T&W said the launch is “outperforming expectations”, as it has recorded more than 3000 orders in the first four months.

However, a 35.7 per cent fall in net profit after tax (NPAT) spooked investors. The decline, which was largely driven by high promotional activity, was not a concern for T&W’s leadership.

“We are not managing the business for profitability at this point in the cycle. I think that’s really important to understand,” CFO Cam Barnsley said.

“We will fund growth because our stated ambition is to get to be the biggest scale player as quickly as possible.”

T&W reached a market share of 2.9 per cent in the half year, its highest on record. Investors on the ASX reacted negatively to these statements, with T&W’s stock price falling by more than 25 per cent in a single day.

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