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- Redbubble (RBL) has reported an increase in earnings of more than 1000 per cent year on year to $48.8 million for the first half of the 2021 financial year
- The Australia-based company operates online marketplaces and tabled $353 million in marketplace revenue during the period
- More than half a million artists made sales across both the Redbubble and TeePublic marketplaces, taking home $65 million
- The number of people buying on the platforms also grew nearly 70 per cent year on year to 6.2 million unique customers
- At the end of December, Redbubble had a $130 million cash balance
- Shares have been trading 10.8 per cent lower at $6.20
Redbubble (RBL) has reported a 1028 per cent increase in earnings before interest tax depreciation and amortization to $48.8 million for the first half of the 2021 financial year.
The Australia-based company operates online marketplaces for independent artists and tabled $353 million in marketplace revenue during the period.
Approximately 572,000 artists made sales across both the Redbubble and TeePublic marketplaces, taking home $65 million.
The number of people buying on the platforms also grew 69 per cent year on year to 6.2 million unique customers.
Redbubble reported a gross profit of $140 million and a gross profit on marketplace revenue of 40.8 per cent compared to $66.1 million and 36.7 per cent respectively in the first half of the 2020 financial year.
The company was founded in Melbourne in 2006 and made its initial public offering on the ASX in 2016. Over the last four years, Rebubble reports, it has achieved a four-fold sale growth.
At the end of December, Redbubble had a cash balance of $130 million.
Shares have been trading 10.8 per cent lower at $6.20 at 10:38 am AEDT.
