Kogan sinks after Mighty Ape tech issues drag earnings

Kogan sinks after Mighty Ape tech issues drag earnings

Listed electronics retailer Kogan has warned its NZ online business Mighty Ape won’t return to profitable trading performance until next financial year as it faces website upgrade headaches.

Kogan slammed by -8% in early trades; trading update underwhelms

The negative reaction to Kogan Ltd’s (ASX:KGN) May 2025 business update on Tuesday could have been summarised in one line: “Notwithstanding the significant marketing investment at Kogan.com and the ongoing technical challenges at Mighty Ape, it was able to deliver Group Adjusted EBITDA Margins of 5%.” That 5% margin figure, one could be forgiven for thinking, mightn’t be enough to rouse an investor’s excitement. Then there was the fact Kogan’s g…