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Highlights

  • MOON records GBP 96.8 million adjusted EBITDA with 27.6% margin in FY25.
  • Moonpig brand reports 8.6% annual revenue growth; Greetz revenue decline slows.
  • Moonpig completes GBP 25 million share buyback; plans up to GBP 60 million repurchase in FY26.

Moonpig Group plc (LSE:MOON), an online retailer specialising in personalised cards and gifts, has reported its financial and operational results for the fiscal year ended April 2025. The company recorded revenue of GBP 350.1 million, driven by 8.6% YoY growth in its Moonpig brand, alongside continued investment in its technology platform and subscription services.

The Group's adjusted EBITDA came in at GBP 96.8 million, representing a margin of 27.6% YoY. Adjusted earnings per share increased 18.1% YoY for the year, supported by improved trading performance and reduced interest expenses. Free cash flow rose by 8.4% YoY to GBP 66.1 million.

Moonpig completed a GBP 25 million share buyback in the second half of FY25 and has announced intentions to repurchase up to GBP 60 million in FY26.

The Group’s active customer base across Moonpig and Greetz increased to 12 million (from 11.5 million in April 2024). Total order volume grew by 4.1% YoY, with a 2.1% increase in average order value.

Moonpig’s core UK operations remained a key growth driver, and international expansion continued at pace. Revenues in the US, Australia, and Ireland markets rose by 36.1% collectively. Greetz, the Group’s Netherlands-based brand, reported a revenue decline of 4.7% YoY, narrowing to 2.4% on a constant currency basis. Revenue for Greetz has stabilised since April 2025.

Moonpig Group has increased its focus on technology and artificial intelligence to improve customer retention and order frequency. The customer occasion reminder database expanded to 101 million, up from 90 million a year ago.

New personalisation tools and AI features have seen wider adoption, including AI handwriting and audio message integration. The number of users engaging with creative features grew 45% YoY to 15 million. Since launching AI-generated card stickers in February, customers have created over 4 million unique images.

Moonpig Plus and Greetz Plus subscription services now have 920,000 combined members, up from 540,000 in April 2024. Moonpig Plus members placed over 20% more orders on average compared to non-subscribers.

The Experiences division, which includes Red Letter Days and Buyagift, is being repositioned amid a difficult market environment. The Group recorded a non-cash goodwill impairment charge of GBP 56.7 million for the segment in the first half of FY25.

Moonpig reported its highest-ever Father’s Day trading period in 2025, surpassing performance during the pandemic lockdown peak in 2020.

Management stated that trading for FY26 to date is aligned with internal forecasts. The Group anticipates mid-single-digit growth in adjusted EBITDA and 8–12% growth in adjusted EPS, underpinned by continued investment in its platform and customer engagement initiatives. Free cash flow is expected to remain a key enabler for both reinvestment and shareholder returns.

Looking beyond FY26, Moonpig continues to target double-digit revenue growth, adjusted EBITDA margins of 25–27%, and mid-teens growth in adjusted EPS.

As of 26 June 2025, MOON shares were trading 9.39% lower at GBX 220.62 apiece.