Kogan Internet — Daily Performance Report

Reporting date 22 Sep 2026  ·  generated 23 Sep 2026 (Australia/Melbourne)  ·  activations data date (LAD) 21 Sep 2026

TCC (end of period)
24,107
YoY +17.5%MoM +3.7%
22 Sep 2026
FYTD Activations
5,313
YoY +47.9%
1 Jul – 22 Sep
FYTD Sales (GA4)
5,227
YoY +59.9%
1 Jul – 22 Sep
FYTD GTV (ex-GST)
$4,567,340
YoY +15.5%
1 Jul – 22 Sep
MTD Activations
1,468
YoY +181.2%MoM +12.5%
1 – 22 Sep
MTD GTV (ex-GST)
$1,281,734
YoY +9.1%MoM -14.1%
1 – 22 Sep

✓ What’s Working Well

  • TCC hit a record 24,107 at 22 Sep 2026 — up 3,595 on PY (20,512, +17.5%) and up 857 on a month ago (23,250, +3.7%). The book has grown every single month since March 2026.
  • FYTD activations 5,313 vs 3,593 PY — +1,720 (+47.9%). Twelve weeks into FY27 and connections are running about half again ahead of last year.
  • FYTD sales (GA4) 5,227 vs 3,268 PY — +1,959 (+59.9%). Orders are converting to activations close to 1:1, so the pipeline is clean.
  • FYTD GTV $4,567,340 vs $3,954,361 PY — +$612,978 (+15.5%).
  • MTD activations 1,468 vs 522 PY — +946 (+181.2%), and +163 (+12.5%) against the same 22 days of August.
  • MTD sales 1,658 vs 520 PY — +1,138 (+218.8%); MoM +392 (+31.0%). September is tracking ahead of an already-strong August.
  • MTD disconnections 312 vs 466 PY — 154 fewer (-33.0%), and 376 fewer than the same window in August (688, -54.7%). Churn is improving on both comparisons.
  • MTD GTV $1,281,734 vs $1,175,181 PY — +$106,553 (+9.1%).
  • Yesterday: 61 activations (data date 21 Sep) vs 29 PY (+110.3%) and 47 a month ago (+29.8%); 51 GA4 sales vs 45 PY (+13.3%) and 47 MoM (+8.5%).
  • Gold+ is carrying the growth — 3,863 FYTD activations vs 107 PY, and 8,184 customers on the tier at today’s TCC, up from 192 a year ago.

⚠ What Needs Watching

  • FYTD disconnections 2,107 vs 1,906 PY — +201 (+10.5%). Read this as a floor on both sides: the invoice-cycle method needs 45 days to confirm an exit, so the most recent weeks are understated.
  • GTV growth (+15.5% FYTD) lags activation growth (+47.9% FYTD) by a wide margin. That is expected — a new connection only reaches run-rate revenue after its first full billing cycle — but the gap should visibly close through Q2.
  • MTD GTV is −$210,236 (-14.1%) MoM. Billing-cycle timing, not demand: invoices are only loaded through 20 Sep, so the September window is effectively two days shorter than its August comparator.
  • Yesterday GTV reads $0.00. No invoices have landed for 22 Sep 2026 yet (latest invoice date in BigQuery is 20 Sep). This normally backfills overnight.
  • Yesterday derived disconnections read 0 (CY) and −5 (PY) — a data-freshness artefact, not a zero-churn day. TCC end-of-period is computed off an invoice base that hasn’t advanced, so Activations + PTCC − TCC collapses toward zero. The MoM figure (99) is the more representative daily rate. Negative values are rendered in grey so they are never read as a win.
  • Legacy tiers keep draining — FYTD Silver 281 vs 1,597 PY (−82.4%), Gold 773 vs 1,202 (−35.7%), Bronze 233 vs 578 (−59.7%). This is mix shift into Gold+ rather than lost demand, but the Silver base (7,848 TCC, down from 11,292 a year ago) is where future churn risk concentrates.
  • The TCC history Google Sheet has no row for 18/9/2026 — a prior run didn’t write. Today’s PTCC load was unaffected (21/9 was present), but the gap will appear in any month-long series read straight off the sheet.
YoY comparison    MoM comparison
MetricCY
22 Sep 2026
PY
22 Sep 2025
YoY ΔYoY %MoM
22 Aug 2026
MoM ΔMoM %
Sales (GA4) ⁽³⁾5145+6+13.3%47+4+8.5%
Activations61
(CY reflects LAD 21 Sep)
29+32+110.3%47+14+29.8%
Disconnections ⁽ᵃ⁾
(Activations + PTCC − TCC)
0-5+5N/A99-99-100.0%
GTV (ex-GST)$0$98,992-$98,992-100.0%$133,852-$133,852-100.0%
TCC (end of period — 22 Sep)24,10720,512+3,595+17.5%23,250+857+3.7%
PTCC (previous day’s published TCC — 21 Sep) ⁽⁵⁾24,04620,478+3,568+17.4%23,302+744+3.2%

Plans activated — all plans (21 Sep)

PlanCY activationsPY activationsYoY ΔYoY %
Gold+ MTM4216+26+162.5%
Gold MTM95+4+80.0%
Silver MTM440+0.0%
Bronze MTM34-1-25.0%
Diamond MTM20+2new
Platinum MTM10+1new
Total6129+32+110.3%

⁽³⁾ Sales sourced from GA4 (Ecommerce purchases: Item name report). All other metrics from BigQuery.

⁽ᵃ⁾ Disconnections derived formula: Activations + PTCC − TCC. CY: 61 + 24,046 − 24,107 = 0. PY: 29 + 20,478 − 20,512 = -5. MoM: 47 + 23,302 − 23,250 = 99. A negative (or implausibly low) result indicates the BigQuery invoice base had not advanced when TCC was computed — TCC_EOP then sits on the same invoice cycle as PTCC, so the formula collapses. This is a data-freshness artefact, not a real churn reading, and such values are rendered in neutral grey. PTCC (CY) from Google Sheet; PTCC (PY) and PTCC (MoM) from BigQuery (settled historical data). True figures pending SQL Server source ([KOG_DATAWAREHOUSE].[VHA].[T_KGN_INTERNET_TOTALS_DAILY_HISTORY]).

⁽⁵⁾ PTCC_CY = previous day’s published TCC, loaded from the TCC history Google Sheet (https://docs.google.com/spreadsheets/d/1juzrxFK6b8acGqtMwVeYzho99cCVOZ-FdraOqNrlLMs). PTCC_PY and PTCC_MoM are computed from BigQuery using report_date = YEST_PY−1 (21 Sep 2025) and MOM_YEST−1 (21 Aug 2026) respectively — historical data is settled, so BigQuery is accurate for those. Disconnections (yesterday) = Activations + PTCC − TCC.

YoY comparison    MoM comparison
MetricCY
1 Sep – 22 Sep 2026
PY
1 Sep – 22 Sep 2025
YoY ΔYoY %MoM
1 Aug – 22 Aug 2026
MoM ΔMoM %
Sales (GA4) ⁽³⁾1,658520+1,138+218.8%1,266+392+31.0%
Activations1,468522+946+181.2%1,305+163+12.5%
Disconnections
⚠ floor (45-day lag)
312466-154-33.0%688-376-54.7%
GTV (ex-GST)$1,281,734$1,175,181+$106,553+9.1%$1,491,970-$210,236-14.1%
TCC (end of period)24,10720,512+3,595+17.5%23,250+857+3.7%

Plans activated — all plans (month to date)

PlanCY activationsPY activationsYoY ΔYoY %
Gold+ MTM1,079107+972+908.4%
Gold MTM210155+55+35.5%
Silver MTM73174-101-58.0%
Bronze MTM6072-12-16.7%
Diamond MTM268+18+225.0%
Platinum MTM206+14+233.3%
Total1,468522+946+181.2%

⁽³⁾ Sales sourced from GA4 (Ecommerce purchases: Item name report). All other metrics from BigQuery.

⁽⁴⁾ March 2025 contained a one-off bulk-rebill event (raw GTV ~$21.26M). Where a PY comparison period covers March 2025, the raw month is swapped for April 2025 full-month GTV to keep the comparison like-for-like. No comparison period in this report covers March 2025, so no metric-table adjustment was applied this run; the chart on the TCC + GTV tab does apply the substitution.

MetricCY
1 Jul – 22 Sep 2026
PY
1 Jul – 22 Sep 2025
YoY ΔYoY %
Sales (GA4) ⁽³⁾5,2273,268+1,959+59.9%
Activations5,3133,593+1,720+47.9%
Disconnections
⚠ floor (45-day lag)
2,1071,906+201+10.5%
GTV (ex-GST)$4,567,340$3,954,361+$612,978+15.5%
TCC (end of period)24,10720,512+3,595+17.5%

Plans activated — all plans (financial year to date)

PlanCY activationsPY activationsYoY ΔYoY %
Gold+ MTM3,863107+3,756+3510.3%
Gold MTM7731,202-429-35.7%
Silver MTM2811,597-1,316-82.4%
Bronze MTM233578-345-59.7%
Platinum MTM8762+25+40.3%
Diamond MTM7646+30+65.2%
Gold M2M01-1−100.0%
Total5,3133,593+1,720+47.9%

⁽³⁾ Sales sourced from GA4 (Ecommerce purchases: Item name report). All other metrics from BigQuery.

⁽⁴⁾ March 2025 contained a one-off bulk-rebill event (raw GTV ~$21.26M). Where a PY comparison period covers March 2025, the raw month is swapped for April 2025 full-month GTV to keep the comparison like-for-like. No comparison period in this report covers March 2025, so no metric-table adjustment was applied this run; the chart on the TCC + GTV tab does apply the substitution.

Total Connected Customers & Monthly GTV (ex-GST)

Blue line (left axis) = end-of-month TCC; green bars (right axis) = monthly GTV ex-GST. The final point (orange) is today, 23 Sep 2026 — TCC as at today and September month-to-date GTV. Mar 25* — the raw March 2025 GTV of $21,255,577 reflects a one-off bulk rebill; the bar shown substitutes April 2025 full-month GTV ($1,239,536) so the series stays like-for-like.

A · Monthly Sales (GA4)

35/37 months populated · Nov 2023 onward from real GA4. Sep and Oct 2023 predate GA4 ecommerce tracking and stay blank. Current month (amber) is GA4 month-to-date through 22 Sep.

B · Monthly Connections (Activations)

BigQuery activations by activation month. Current month (amber) is partial.

C · Quarterly Connections (Activations)

Calendar quarters. Final bar (amber) is quarter to date.

D · Monthly Activations by Plan Tier

Stacked activations by tier. Gold+ launched September 2025 and now dominates the mix.

E · TCC by Plan Tier

Stacked end-of-month TCC by tier, using the same NIC+PIC formula as the TCC + GTV chart: 36 month-ends plus today.