Why did Schoolblazer (ASX:SBZ) revenue decline in the first half?

The 4% revenue dip was primarily driven by a 7% decline in wholesale sales, which were hampered by subdued retailer ordering and global supply chain delays. While wholesale struggled, the retail segment showed resilience with 1% growth.

Is Schoolblazer (ASX:SBZ) profitable right now?

Schoolblazer is not currently profitable on a statutory basis, expecting an EBITDA loss of $5–6 million for the first half of FY26. This loss is attributed to the inherent seasonality of the schoolwear industry and recent integration investments.

What is the FY26 revenue guidance for Schoolblazer (ASX:SBZ)?

Management has maintained its FY26 revenue guidance of $190–200 million. Achieving this target depends on a strong second half, supported by 28 net new school contract wins.

How does Schoolblazer’s "seasonality" affect the investment thesis?

Schoolblazer is a highly cyclical stock where the first half is typically a loss-making period focused on inventory building and investment. The investment thesis relies almost entirely on the second-half performance during the Northern Hemisphere summer.

What do the leadership changes mean for Schoolblazer (ASX:SBZ) strategy?

Global CEO Matthew Easter has relocated to Australia to spearhead local growth opportunities, signaling a strategic pivot toward expanding the company’s footprint in the Australian market.

Schoolblazer eyes growth despite seasonal half-year dip

Q: What were the key takeaways from the Schoolblazer (ASX:SBZ) 1H FY26 update?

Schoolblazer reported 1H FY26 revenue of $55.4 million, representing a slight decline from the $57.7 million pro-forma figure in the prior year. The company is currently facing a statutory EBITDA loss of $5–6 million for the half.

Written by Heidi Cuthbert Published May. 8 2026Last Updated May. 8 2026

Schoolblazer (ASX:SBZ) has released its half-year corporate update ahead of its May 27 results, navigating a challenging global macroeconomic landscape while positioning for second-half growth.

The technology-focused global schoolwear platform reported a 1H FY26 revenue of $55.4 million, a slight dip from the $57.7 million pro-forma figure in the prior corresponding period.

The result was largely influenced by a 7% decline in wholesale sales, which faced headwinds from subdued retailer ordering and supply chain delays, though retail sales remained resilient with 1% growth.

Despite an expected statutory EBITDA loss of $5–6 million for the half, management remains optimistic, citing the business’s extreme seasonality.

Two-thirds of revenue and nearly all EBITDA are generated in the second half, driven by the Northern Hemisphere’s peak back-to-school season from July to September.

To capitalise on this, the group has secured 28 net new school contracts for FY26, 27 of which are in the Northern Hemisphere.

The company is bolstering its financial and leadership foundations. Schoolblazer has signed a new credit term sheet with a major Australian bank to refinance global facilities at materially lower rates, enhancing inventory capacity.

Leadership changes also signal a pivot towards local expansion, with Global CEO Matthew Easter relocating to Australia and Phillip Christopher appointed as Group Finance Director.

The group maintains its FY26 revenue guidance of $190–200 million, while progressing towards an ambitious pro-forma EBITDA target of $25 million for FY27.

At the time of reporting, Schoolblazer’s share price was $0.20.