UK's Huddled H1 gross profit more than doubles

Overview

• UK live commerce firm's H1 revenue fell yr/yr as business pivoted from traditional e-commerce

• Gross profit more than doubled, and adjusted EBITDA loss narrowed from prior year

• Company reports rapid growth in live commerce revenue and strong product margins post-period

Outlook

• Company plans to launch on eBay Live and expand TikTok and Whatnot channels in October

• Peeko Live platform set to launch on peeko.co.uk in October

• Nutricircle to add Live Commerce with an educational focus before end of Q4

Result Drivers

• BUSINESS PIVOT - Co said shift to live commerce drove focus on fewer, more profitable orders, impacting revenue and boosting gross profit

• LIVE COMMERCE MOMENTUM - Co reported rapid growth in live commerce revenue, strong product margins, and rising customer retention post-period

• PROPRIETARY SOFTWARE - Co said new 'Powered by Peeko' software enabled integration with live commerce platforms and next-day delivery, supporting growth

Company press release:

Key Details

Reuters Recommended Reads

• Sept 25 - UK's Tandem H1 revenue rises on strength in Bikes, Home & Garden categories

• Sept 25 - UK's Bango 1H revenue rises, helped by subscription platform growth

• Sept 25 - UK's Safestay H1 revenue falls on weaker occupancy, challenging market

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)