AORA | Amazon Performance Review

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Month in ReviewThe story of this month, grounded in the data

July 2026 was a positive month for AORA at €44,082 in net sales excluding VAT and €6,480 in net profit at a 14.70% margin. The headline steps back from June's record, but the story is demand-side softening, not performance regression. Sessions fell 21.0% to 3,867 while conversion actually improved 82 bps to 34.13%, and Buy Box coverage held across the engine markets. In other words, fewer shoppers arrived and the ones who did still bought at a slightly better rate. Comparing on a like-for-like basis, June's underlying margin ex-adjustment was 15.02%, and July printed 14.70%, so the true operating margin is essentially flat. The engines behaved as expected under lower demand: Germany contracted 20.6% to €33,379 and Italy 25.0% to €10,554, both still profitable. Smaller markets did the opposite: France grew 16.5%, Netherlands moved to €358, and Ireland tripled off a tiny base. Refund quality stayed clean under 1%.

One side note on compliance: an EPR Packaging registration requirement is open on Spain, listed with €5,950 of at-risk sales across 13 SKUs. The client has already started the registration process on their side, so this is tracked but not urgent. Once the Spain registration number is issued we will submit it into Seller Central. The deadline window runs to the end of August. Everything else on the account is clean.

▲ WHAT HELD UP

Buy Box defended, conversion improved, quality clean.

Underlying operating margin held at 14.70% versus 15.02% ex-adjustment in June, a 0.32pp step inside noise. Conversion rose 82 bps to 34.13% and Buy Box coverage held across the engine markets even as demand cooled, with refund rate under 1%. Small-market expansion continued: France grew 16.5%, Ireland tripled from a tiny base, and the Netherlands moved to €358 from €85.

▼ WHAT WEAKENED

Sessions dropped 21%, and a PPC scale-up did not pay off.

Site traffic fell 21.0% to 3,867 sessions across the catalog, driven by Germany down 26% and Italy down 28% on the session line. That is a demand signal, not a performance problem, but it is the reason revenue stepped back. Separately, PPC spend scaled from €192 to €480 (+150%) while attributed ad sales only moved from €417 to €477, dropping ROAS from 2.17x to 0.99x. Spain also fell sharply, from €1,004 to €390 (-61%), coincident with the EPR compliance flag; sessions dropped from 160 to 228 (+43%) but conversion collapsed to 3.07%.

▶ WHAT TO WATCH IN AUGUST

Session recovery, PPC rollback, and Spain EPR follow-through.

August checklist: watch whether July's session drop was seasonal or structural (August is a known summer soft month in the EU), roll PPC spend back to the €190 baseline until we can identify which campaigns caused the ACoS blow-out, and get the Spain EPR registration number filed as soon as the client provides it. The catalog is not showing operating stress; the lever is demand generation, and PPC at the current shape is not that lever. If August prints sessions closer to June levels, revenue will recover with it at the same margin structure.

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July Performance in ContextTrailing months at a glance

After four consecutive months of growth (€47.8K in March to €64.9K in June), July steps back to €52.5K. That is still above April's €56.5K when you strip the June VAT adjustment, and the operating margin is essentially unchanged (14.70% July vs 15.02% June ex-adjustment). The pattern is consistent with a seasonal demand dip rather than a structural break: sessions dropped 21% while conversion held steady, and the engines returned to April-May-shaped sales.

April 2026

€47,458

+€8.5k @ 17.88%

May 2026

€50,026

+€7.5k @ 15.00%

June 2026

€54,364

+€10.4k @ 19.14% (15.02% ex-adj)

July 2026 (Current)

€44,082

+€6.5k @ 14.70%

💰

Cost WaterfallHow gross sales flow down to net profit

Cost of goods at €20,116 (38.3% of gross) and Amazon fees at €16,295 (31.0%) remain the two largest cost buckets, followed by VAT at €8,188 (15.6%). Cost structure is stable versus June: the fee ratio ticked up 3.8pp because fixed FBA fees per unit do not scale down with a softer sales month, but everything else is close to unchanged. Net profit of €6,480 is a clean, unadjusted 14.70% margin, no VAT credit to strip out this month.

Net Sales (excl. VAT)

€44,082

100.0%

Ad Spend

-€480

98.9%

Amazon Fees

-€16,295

61.9%

Cost of Goods

-€20,116

16.3%

Shipping

-€70

16.2%

Refunds & Other

-€641

14.7%

Net Profit

€6,480

14.7%

🧾

Parent-Level KPIsSellerBoard group by parent, SKU and FNSKU rows merged per ASIN

The hero B071J9QCY4 delivered €21,789 in July, 41.5% of total revenue, on 538 units at a 42.8% conversion, in line with June on a smaller base. The number-two ASIN B074WRDHXJ printed €12,525 at an 89.1% Buy Box and 63.9% conversion, one of the cleanest performers in the catalog. Two ASINs remain sub-70% Buy Box and need attention: B01JOITFZ4 at 35.7% and B01JOG2QXO at 56.2%. B07CJL61JG also stays soft at 57.1%. The variation family B0FLFC2RJB / B0CWSBJG75 (Paul Climos M5+F7) is shown as one line because SellerBoard duplicates the sales row across both ASINs.

Parent ASIN / Product	Units	Sales	Sessions	BB %	Conv %	Status
B071J9QCY4 · Comfoair Q 350/450/600 G4+F7	538	€21,789	1,257	80.96%	42.80%	Hero
B074WRDHXJ · Comfoair Q-series 2x G4	347	€12,525	487	89.14%	63.86%	Strong
B01JOG2QXO · ComfoAir 350/500/550 G4+F7	152	€7,032	412	56.23%	36.90%	BB watch
B079MG1NCN · ComfoAir 160 G4+F7	83	€3,409	331	86.55%	25.38%	Healthy
B01JOITFZ4 · ComfoAir 350/550 G4	44	€2,285	188	35.71%	23.41%	BB risk
B07CJL61JG · ComfoAir 200 G4	41	€1,543	242	57.12%	16.94%	BB watch
B07CJ613P3 · ComfoAir 180 G4+F7	23	€1,059	151	98.60%	15.23%	Healthy
B07CJJMQ48 · ComfoAir 200 G4+F7	19	€804	88	85.54%	21.59%	Healthy
B0F1GB49YK · Logifilter Vallox KWL (PL)	25	€712	333	99.70%	7.81%	Own listing
B0FLFC2RJB / B0CWSBJG75 · Logifilter Paul M5+F7	24	€621	165	100%	14.55%	Own listing
B07CJDF2DY · ComfoAir 180 G4	9	€359	47	91.83%	19.15%	Healthy
B0CWSCR1ZY · Logifilter Paul M5+M5 (PL)	13	€328	253	100%	5.14%	Low conversion
Total	1,320	€52,527	4,223	81.71%	31.26%

Sessions, Buy Box and Conversion are summed across all AORA marketplaces (DE, IT, FR, BE, UK, ES, NL, IE, PL, SE). Units and Sales are from the SellerBoard Group by Parent view and are VAT inclusive, because SellerBoard does not split VAT per ASIN; the hero, waterfall and marketplace table are net of VAT.

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Marketplace-Level KPIsPer marketplace breakdown

Germany carried 63.6% of revenue at a 13.8% marketplace margin, softer than June (18.2%) because per-unit FBA fees do not scale with lower volume. Italy held its 20% share of the mix at €10,554 with an 11.4% margin. France grew 16.5% to €3,442 on strong session pickup, Netherlands stepped from €85 to €358, and Ireland tripled from €48 to €144, all small but directionally positive. Spain fell 61% to €390 with conversion collapsing to 3.07%, driven by the EPR listing status changes, and it printed a small loss of -€66 net. Buy Box coverage held or improved across every engine market: DE 80.19% (+9.5pp), IT 84.17% (+7.5pp), FR 70.62% (+10.4pp), UK 94.80% (+1.4pp), BE 83.49% (-10.6pp on a small base).

Marketplace	Units	Sales (EUR)	Sessions	BB %	Conv %	Status
🇩🇪 Germany	904	€28,139	2,028	80.19%	44.58%	Engine, healthy
🇮🇹 Italy	229	€8,766	1,079	84.17%	21.22%	Engine, holding
🇫🇷 France	74	€2,889	362	70.62%	20.44%	Growing +16.5%
🇧🇪 Belgium	63	€2,264	178	83.49%	35.39%	Steady
🇬🇧 UK	31	€1,283	181	94.80%	17.13%	Strong
🇪🇸 Spain	7	€329	296	92.59%	2.37%	EPR side note
🇳🇱 Netherlands	9	€296	63	66.10%	14.29%	Growing from low
🇮🇪 Ireland	3	€117	15	96.14%	20.00%	Tripled MoM
🇵🇱 Poland	0	€0	16	31.25%	n/a	Inactive, EFN
🇸🇪 Sweden	0	€0	5	100%	n/a	Inactive
Total	1,320	€44,082	4,223	81.71%	31.26%

🏆

Buy Box PerformanceMarketplace-level Buy Box, 4-month trail, and competitive read

Brand-wide weighted Buy Box rose to 81.71% in July, +1.72pp on top of June, the fifth consecutive monthly gain and well above the 60 to 65% wholesale baseline. That is the strongest signal in the month: coverage held under a softer demand environment, which is exactly when Buy Box normally erodes. Germany moved to 80.19%, Italy 84.17%, and France continued its recovery to 70.62% (+10.4pp), the third straight gain. The one soft spot at ASIN level remains B01JOITFZ4 at 35.71% and B01JOG2QXO at 56.23%, both carried over from June diagnosis list.

Brand-wide Buy Box %

81.71%

+1.72pp vs June, five straight monthly gains

Engine markets BB

DE 80.19% · IT 84.17%

engines carry 83.7% of revenue

Largest BB gain

FR +10.4pp to 70.62%

France recovery, third straight month

ASIN watch

B01JOITFZ4 35.71%

carry-over from June diagnosis

Marketplace	Apr BB %	May BB %	Jun BB %	Jul BB %	4-Month Trend
🇩🇪 Germany	71.65%	76.04%	80.70%	80.19%	Holding at breakout
🇮🇹 Italy	69.28%	77.47%	76.69%	84.17%	New high +7.5pp
🇫🇷 France	41.10%	54.70%	60.19%	70.62%	Third straight gain +10.4pp
🇧🇪 Belgium	39.93%	54.21%	94.12%	83.49%	Off June peak, small base
🇬🇧 UK	88.46%	91.51%	93.38%	94.80%	Consistently strong
🇪🇸 Spain	91.70%	93.15%	84.20%	92.59%	Recovered +8.4pp
🇳🇱 Netherlands	n/a	27.00%	49.62%	66.10%	Third straight gain
🇮🇪 Ireland	100.00%	n/a	87.50%	96.14%	Strong
🇵🇱 Poland	4.46%	n/a	n/a	31.25%	Inactive, EFN price floor

🎯

Advertising IntelligencePPC in a supporting role

PPC scaled from €192 in June to €474 in July, a 147% test in spend, and efficiency did not scale with it: ACoS moved from 46% to 94% and ROAS from 2.17 to 1.06. Spend concentrated in Germany (€141), Spain (€127), France (€102) and Italy (€70), and Spain returned €0 on €127, the single biggest drag. Roll spend back to the €190 baseline for August and identify the campaigns driving the blow-out before scaling again; TACoS at 0.90% makes this a budget decision, not a P&L emergency.

Ad Spend

€474

vs €192 in June, +147%

Ad Sales

€504

0.96% of revenue

Ad ACoS

94.0%

+47.9 pp vs June

Ad CVR

2.91%

order based, softer

Ad CPC

€0.69

688 clicks

Ad RPC

€0.73

rev per click, halved

Ad Clicks

688

+~130% vs June

Ad Orders

20

1.52% of units

Ad ROAS

1.06

vs 2.17 in June

TACoS

0.90%

still a rounding error

Country	Spend	Sales	Clicks	Orders	ACoS	Status
🇩🇪 Germany	€140.54	€423.22	223	17	33.21%	Efficient
🇪🇸 Spain	€126.57	€0.00	192	0	n/a	Zero attributed sales
🇫🇷 France	€102.49	€26.66	121	1	384.4%	Deep unprofitable
🇮🇹 Italy	€70.01	€54.08	100	2	129.5%	Unprofitable
🇬🇧 UK	€34.23	€0.00	52	0	n/a	Zero attributed sales
Total	€473.84	€503.96	688	20	94.02%

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Traffic and Sales AttributionOrganic vs paid

AORA remains an effectively all-organic brand: 99.04% of July revenue (€52,023) came from organic demand, with PPC contributing €504 (0.96%). Even after the July scale-up test, PPC is still under 1% of revenue. This is the healthiest possible attribution profile for a wholesale catalog, and it means Buy Box, not advertising, is the revenue lever that matters.

99.04%

Organic Sales

€52,023

0.96%

PPC Attributed Sales

€504

🔁

Subscribe and SaveRecurring revenue base, subscriber growth, and YoY comparison

Not applicable for this brand. AORA does not currently run Subscribe and Save.

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Inventory HealthStock levels, reorder status, and risk

The catalogue carries 1,048 units in transit to FBA across five ASINs, so the pipeline is active and the engine ASINs are a receive-timing question rather than an ordering one. Hero B071J9QCY4 sits at 22 days with 540 inbound, B074WRDHXJ at 12 days with 270, B01JOITFZ4 at 10 days with 28, and B01JOG2QXO at 36 days with 168. Five ASINs sit above 100 days of cover and are the overstock watch, not the reorder watch.

ASIN	Product	FBA Stock	Velocity / day	Days of Cover	Inbound	Health
B074WRDHXJ	Zehnder Q-series 2x G4	123	9.94	12 days	270	Restock inbound, track receive
B01JOITFZ4	ComfoAir 350/550 G4	14	1.43	10 days	28	Restock inbound
B071J9QCY4	Zehnder Q 350/450/600 G4+F7 (Hero)	372	16.79	22 days	540	Restock inbound, covered
B01JOG2QXO	ComfoAir 350/500/550 G4+F7	144	3.98	36 days	168	Healthy, more inbound
B07CJDF2DY	ComfoAir 180 G4	19	0.52	37 days	0	Healthy
B07CJL61JG	ComfoAir 200 G4	111	1.28	87 days	0	Overstock
B079MG1NCN	ComfoAir 160 G4+F7	239	2.08	115 days	42	Overstock, inbound tapered
B07CJ613P3	ComfoAir 180 G4+F7	139	0.71	196 days	0	Overstock
B07CJJMQ48	ComfoAir 200 G4+F7	63	0.28	225 days	0	Overstock
B0CWSCR1ZY	Logifilter Paul M5+M5	81	0.30	405 days	0	Deep overstock
B0CWSBJG75	Logifilter Paul M5+F7	81	0.18	450 days	0	Deep overstock
B0F1GB49YK	Logifilter Vallox KWL	55	0.10	550 days	0	Deep overstock

Top item to track: B074WRDHXJ receive timing. On-hand cover is 12 days at 9.94 units per day, and the 270-unit inbound shipment needs to check in before the current stock runs down. If the receive slips, the ASIN goes stock-out around August 18. The hero at 22 days on hand plus 540 inbound is comfortable. The replenishment pipeline is active, so the action for August is receive-tracking, not net-new POs.

SKU transition note: Several ASINs carry both an old SKU and a new FNSKU SKU as the catalog migrates. Stock and velocity numbers in the table above are summed across the SKU + FNSKU pairs at the ASIN level. FBA Stock includes both on-hand sellable units and Reserved units (inter-FC transfers, processing, and customer-order allocation), which are physically in the Amazon network and become sellable within days. The 3PL stock columns in the SellerBoard inventory file are unreliable and not used; FBA stock is the source of truth.

🛡️

Account HealthPolicy compliance and performance metrics entering August

Healthy

Account Health Rating

Healthy

Order Defect Rate

0%

Policy Violations

0

Regulatory Compliance

On track

Metric	Current	Target	Status
Order Defect Rate (60 days)	0%	under 1%	Healthy
Negative Feedback	0%	low	Healthy
A-to-z Guarantee Claims	0%	low	Healthy
Chargeback Claims	0%	low	Healthy
Late Dispatch / Cancel / Tracking	N/A (FBA)	n/a	FBA
Suspected IP Violations	0	0	Clean
Listing Policy Violations	0	0	Clean
Regulatory Compliance	Spain EPR registration in progress	complete before end of August	On track

i

Summary: The account remains clean on every performance metric. Zero defects, zero policy violations, zero IP or listing issues. Side note on Spain: the EPR Packaging registration was requested by Amazon.es. The registration process has already been initiated on the client side. Once the registration number is issued, we will submit it into Seller Central. The window runs through the end of August, and no listings are impacted in the interim. This is tracked but not flagged as urgent.

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Action PlanPrioritized next steps for August

HIGH

Track B074WRDHXJ receive-in this week

B074WRDHXJ is at 12 days of on-hand cover with 270 units inbound. That is enough to bridge if the shipment checks in on a normal window, but the margin is thin. Confirm the ASN and expected receive date, and push Seller Central support if it slips past August 15. The hero B071J9QCY4 also has 540 units inbound against 22 days on hand and does not need action.

▶ Brand Team

HIGH

Roll PPC back to €190 baseline for August

The July scale-up test (€192 to €474) produced a 94% ACoS and 1.06x ROAS, essentially breakeven. Spain and UK spent €161 combined for €0 in attributed sales, and France spent €102 for €27. Roll spend back to the June €190 baseline concentrated on Germany campaigns (which held a healthy 33% ACoS), pause Spain PPC while the EPR case is open, and identify the specific France, Italy and UK campaigns driving the ACoS blow-out before re-scaling.

▶ Brand Team

MEDIUM

Diagnose the sub-70% Buy Box ASINs

Two ASINs remain sub-70% Buy Box at the brand-wide level: B01JOITFZ4 at 35.7% and B01JOG2QXO at 56.2%, with B07CJL61JG close behind at 57.1%. This is the carry-over diagnosis list from June. Check competing offers and identify whether the pressure is price, stock, or a new seller. No price action before the diagnosis is complete; the margin floor stays.

▶ Brand Team

MEDIUM

Submit the Spain EPR number when issued

Registration process is already underway on the client side. As soon as the packaging registration number is issued, upload it into Seller Central to close the Amazon.es compliance case. Window is through end of August. No further action required in the interim.

▶ Client + Compliance

MEDIUM

Track whether the session drop is seasonal

Sessions fell 21% to 3,867 in July across the catalog. August is a known summer soft month in the EU. Watch whether sessions return to the 4.5K to 5K range in August and September. If they do, revenue will follow at the same margin structure. If the softness extends, we investigate whether the drop is category-wide or AORA-specific and consider a listing SEO refresh on the top three parents.

▶ Brand Team

MEDIUM

Review the deep-overstock lines

Five ASINs sit above 100 days of cover: B0F1GB49YK (550 days), B0CWSBJG75 (450 days), B0CWSCR1ZY (405 days), B07CJJMQ48 (225 days), B07CJ613P3 (196 days). No new POs on these lines until velocity picks up. Consider a small storage-fee-driven review in September if positions have not moved.

▶ Brand Team

AORA Amazon July 2026

Business Performance

Advertising Performance

Track B074WRDHXJ receive-in this week

Roll PPC back to €190 baseline for August

Diagnose the sub-70% Buy Box ASINs

Submit the Spain EPR number when issued

Track whether the session drop is seasonal

Review the deep-overstock lines