Online retailer Kogan.com achieved a net profit after tax of $8.7 million for the first half of FY24, compared to a $23.8 million loss the previous year.

The profit turnaround was driven by a shift to a platform-based and capital-light model.

Platform-based sales rose 63.%, while Kogan Verticals revenue increased 25.6%, with mobile, insurance, and internet services growth.

The company reinstated its dividend following a return to profitability in the December 2023 half, declaring an interim dividend of 7.5 cents per share.