Online retailer Harris Technology Group (ASX: HT8) has returned to profitability after a two-year turnaround, with the pure-play online retailer crediting its aggressive expansion into refurbished technology for driving a sharp improvement in earnings and cash flow.
The company reported sales revenue of $8.3 million for the six months to 31 December 2025, up 18.9% year-on-year. Gross profit rose 7.1% to $2.8 million, while EBITDA surged 233% to $181,000, marking a decisive swing from the $311,000 loss recorded in the prior corresponding period.
Net profit after tax came in at $8,000 — modest in absolute terms but symbolically significant as the business emerges from what management describes as several “leaner years” impacted by COVID disruptions and prolonged cost-of-living pressures.
The turnaround has been powered by a strategic pivot toward higher-margin refurbished IT products, a category that has gained traction as Australian consumers increasingly prioritise value amid persistent economic uncertainty. By December 2025, Harris Technology’s refurbished division had exceeded $500,000 in monthly sales for four consecutive months, underscoring the momentum behind the shift.
Chief Executive Officer Garrison Huang said the result reflected a deliberate refocusing of the company’s eCommerce strategy.
“With this upwards trend into profitability, it is pleasing to hit this earnings milestone which demonstrates the hard work our team have been putting in to scale up our tech refurbishment operations and sales over the past 12 months,” Huang said.
The company has expanded its refurbished partner network, strengthened supplier relationships and leveraged increased buying power to secure higher volumes of used devices. That broadened product range, combined with a shift in sales mix toward higher-margin lines, has reduced transaction expenses and improved overall profitability.
While Harris Technology’s traditional new IT product sales remain a contributor to revenue, management signalled that refurbished technology represents the strongest growth opportunity in the current macroeconomic environment. With household budgets under pressure and small businesses seeking cost efficiencies, refurbished laptops, desktops and accessories are increasingly viewed as practical alternatives to new hardware.
The company generated $700,000 in positive operating cash flow during the half, a 369% improvement year-on-year, and closed the period with $2.3 million in cash on hand. Inventory levels edged up to $3.1 million from $2.9 million at the end of June 2025, reflecting increased stock to support refurbished sales growth.
Harris Technology said it does not anticipate materially increasing purchases of new IT products over the next 12 months, opting instead to concentrate resources on scaling the refurbished division. Existing operational structures, management noted, have capacity to accommodate higher sales volumes without significant additional overhead.
The broader refurbished technology market has expanded rapidly in Australia as sustainability considerations and price sensitivity reshape buying habits. Industry analysts point to growing consumer acceptance of certified refurbished devices, particularly when backed by warranty and quality assurance standards.
Huang said the company intends to capitalise further on this trend.
“With plenty of growth to capitalise on by leveraging our established supply chain and channels, we will continue to grow this business where cost-conscious Australians are consistently purchasing our high-quality refurbished tech at a fraction of their new alternatives.”
Emily Maxwell is a business writer at The Sentiment with interest in the tech, fintech and retail industries.
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