Year-on-year performance analysis for January and February 2026, with campaign-level insights and recent momentum data.
Revenue grew 7.6% year-on-year with a significantly expanded campaign structure now driving higher-value conversions.
| Campaign | Spend | Revenue | ROAS | Clicks |
|---|---|---|---|---|
| (MH) PMax Gen. Sales | $2,810 | $19,811 | 7.05x | 3,912 |
| MadHats PMax Strong | $2,336 | $19,024 | 8.14x | 2,926 |
| [ML] Feed Only - Terry Towelling Top ROAS | $676 | $11,705 | 17.32x | 640 |
| (MH) Gen. Leads | $2,689 | $5,367 | 2.00x | 1,490 |
| Madhats Sales Ad | $1,344 | $2,841 | 2.11x | 790 |
| [ML] Feed Only - All Products New | $248 | $343 | 1.38x | 298 |
Total conversion value grew from $54,892 to $59,091 (+7.6%). The expanded campaign structure is driving incremental revenue that didn't exist in January 2025.
AOV jumped from $65.27 to $157.58 (+141%), meaning each conversion is significantly more valuable. The account is attracting higher-value buyers through targeted product campaigns.
The new Market Lead feed-only campaign for the Terry Towelling range generated $11,705 in revenue on just $676 in spend. This targeted approach is delivering exceptional returns.
Comparing the first 13 days of February 2026 against the same 13-day period in 2025. ROAS has improved 21%, with every ad dollar working significantly harder.
| Campaign | Spend | Revenue | ROAS | Clicks |
|---|---|---|---|---|
| MadHats PMax Top Performer | $533 | $8,055 | 15.12x | 807 |
| (MH) PMax Gen. Sales | $532 | $4,073 | 7.65x | 840 |
| [ML] Feed Only - Terry Towelling | $404 | $2,376 | 5.87x | 359 |
| (MH) Gen. Leads | $133 | $394 | 2.97x | 111 |
| [ML] Feed Only - Caps Top 50 New | $129 | $57 | 0.44x | 95 |
| [ML] Feed Only - All Products | $48 | $230 | 4.80x | 84 |
At 8.47x ROAS, February 2026 is delivering a 21% improvement in efficiency over the same period last year. Every dollar of ad spend is generating $8.47 in revenue, up from $6.99.
The standout campaign this month is MadHats PMax, generating $8,055 in revenue on $533 of spend. This is the highest ROAS of any campaign in the account this period.
Average order value of $150.35 in February is 138% higher than the same period last year ($63.09). The campaign structure is successfully attracting higher-value purchases.
Full calendar year comparison showing growth in spend and revenue, with consistent ROAS efficiency.
Conversion value increased from $505K to $598K (+18.2%) year-on-year. Strong top-line growth driven by expanded campaign structure and new product winners.
Expanded from 2 to 4 campaigns in Jul 2025. The new MadHats PMax campaign returned 10.07x ROAS on $6.8K spend, and has continued to strengthen into 2026.
Despite a 20.6% increase in ad spend, ROAS held steady at 6.04x (vs 6.16x). The account scaled revenue without sacrificing efficiency, a sign of a healthy growth trajectory.
Spend, conversion value, ROAS and conversions for each month with month-on-month change indicators.
| Month | Spend | Conv. Value | ROAS | Conversions |
|---|---|---|---|---|
| Jan 2024 | $4,141 | $28,443 | 6.87x | 173 |
| Feb 2024 | $7,269+75.5% | $43,654+53.5% | 6.00x | 471 |
| Mar 2024 | $7,126-2.0% | $37,752-13.5% | 5.30x | 541 |
| Apr 2024 | $7,282+2.2% | $40,679+7.8% | 5.59x | 565 |
| May 2024 | $7,295+0.2% | $49,975+22.9% | 6.85x | 540 |
| Jun 2024 | $7,198-1.3% | $30,230-39.5% | 4.20x | 539 |
| Jul 2024 | $7,273+1.0% | $39,207+29.7% | 5.39x | 526 |
| Aug 2024 | $7,279+0.1% | $42,666+8.8% | 5.86x | 646 |
| Sep 2024 | $7,292+0.2% | $50,143+17.5% | 6.88x | 649 |
| Oct 2024 | $7,291-0.0% | $57,538+14.8% | 7.89x | 678 |
| Nov 2024 | $7,207-1.2% | $39,105-32.0% | 5.43x | 667 |
| Dec 2024 | $5,339-25.9% | $45,990+17.6% | 8.61x | 661 |
| Jan 2025 | $7,273+36.2% | $54,892+19.4% | 7.55x | 841 |
| Feb 2025 | $7,163-1.5% | $57,235+4.3% | 7.99x | 699 |
| Mar 2025 | $7,297+1.9% | $41,471-27.5% | 5.68x | 613 |
| Apr 2025 | $8,781+20.3% | $33,895-18.3% | 3.86x | 566 |
| May 2025 | $9,003+2.5% | $50,860+50.0% | 5.65x | 687 |
| Jun 2025 | $9,124+1.3% | $45,804-9.9% | 5.02x | 680 |
| Jul 2025 | $7,319-19.8% | $42,150-8.0% | 5.76x | 503 |
| Aug 2025 | $7,877+7.6% | $46,524+10.4% | 5.91x | 515 |
| Sep 2025 | $7,880+0.0% | $60,646+30.4% | 7.70x | 638 |
| Oct 2025 | $9,061+15.0% | $63,117+4.1% | 6.97x | 738 |
| Nov 2025 | $9,083+0.2% | $62,968-0.2% | 6.93x | 513 |
| Dec 2025 | $9,046-0.4% | $38,031-39.6% | 4.21x | 351 |
| Jan 2026 | $10,103+11.7% | $59,091+55.4% | 5.85x | 375 |
| Feb 2026 13 days | $1,793 | $15,185 | 8.47x | 101 |
Priority actions to build on the strong start to 2026 and continue improving performance.
The big picture view of Mad Hats' Google Ads performance heading into 2026.