Online card and gifting platform Moonpig Group plc has reported a solid first-half performance for the six months ended 31 October 2025, with revenue up 6.7% year-on-year to £168.6m and adjusted EBITDA rising 7.7% to £45m.
The core Moonpig brand grew 9.4%, driven by higher order volumes and average order values. Dutch subsidiary Greetz returned to growth, posting a 1.3% increase in constant currency and 3% on a reported basis. Experiences revenue fell 8.9%, though CEO Nickyl Raithatha noted that trading improved in the second half.
Adjusted profit before tax rose 11.4% to £30.5m, and adjusted earnings per share climbed 13.1% to 6.9p, supported by operating leverage and a £30m share buyback. Active customers grew to 12.1 million, with Plus subscriptions across Moonpig and Greetz up 36.5% to 1.02 million. Gift attach rates improved to 17.8%, underlining the success of Moonpig’s strategy to drive higher basket values.
Highlighting that Moonpig is now the leading online card and gifting platform in the UK and the Netherlands, Raithatha praised his “outstanding” team and the Group’s strategy, which has resulted in a loyal customer base. “We have built a resilient, cash-generative and profitable platform with a clear strategy, a highly engaged, loyal and growing customer base and a data advantage that continues to compound year after year,” he said.
From startup to market leader
Founded in 2000 by entrepreneur Nick Jenkins, Moonpig started as a pioneer in personalised greeting cards in the UK. The brand quickly became synonymous with convenience and customisation, leveraging technology to disrupt the traditional card market.
Moonpig expanded into gifting and later acquired Greetz in the Netherlands, cementing its position as the leading online cards platform in both markets. Today, Moonpig holds an estimated 70% share of the UK online single cards market and around 65% in the Netherlands.
The company floated on the London Stock Exchange in February 2021, raising £491m in one of the year’s standout IPOs. Since then, Moonpig has expanded into Ireland, Australia and the US, while continuing to invest in AI-driven personalisation, subscription services, and fulfilment automation.
The power of leveraging technology
The company highlighted its success in leveraging technology to drive engagement in its most recent results announcement: “We use technology and data to drive growth in two core ways. First, we make continual improvements to the user experience through high frequency experimentation. Second, we apply AI to our proprietary customer data to personalise the journey. By combining advanced algorithms with behavioural insight, we help customers find the right card and gift more easily, which in turn supports higher engagement, purchase frequency and average order value.”
Moonpig’s strong half-year growth demonstrates that, with spending under pressure, customers are choosing brands they trust. In the fast-changing retail landscape, there’s an opportunity for agile digital-first brands to thrive – and Moonpig is ahead of this curve “With real momentum and multiple growth levers to pull, the Group is well-positioned to continue capitalising on the long-term structural shift from offline to online,” Raithatha said.
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