- Redbubble (RBL) has announced a $64.5 million profit for the first quarter of the 2021 financial year – that’s a 169 per cent increase year-on-year
- The online marketplace also recorded revenue of $147.5 million — which represents a 116 per cent increase compared to the same period in 2019
- The company ended the September quarter with $85.4 million in the bank and an EBIT of $22.1 million
- Going forwards, the company’s CEO said Redbubble was focused on enhancing the customer’s experience
- Shares in RBL ended today trading up 11.5 per cent at $5.35 each
Online marketplace retailer Redbubble (RBL) has released a trading update, setting out some of the key financial metrics for the company’s September quarter.
Among the headline, results are the company’s gross profit for Q1 FY21 of $64.5 million — a 169 per cent increase when compared to the same period in 2019.
Redbubble also recorded revenue of a 116 per cent increase in revenue year-on-year, walking away with $147.5 million at the end of September.
But, the company did stress the results were unaudited and based on internal metrics. Additionally, the figures also include a positive adjustment to delivery times.
Alongside the revenue and profit increases, Redbubble also announced an increased EBIT of $22.1 million for Q1.
It ended September 30 with around $85.4 million worth of cash in the bank and an operating cash inflow of $27.1 million.
Looking forwards, the company’s CEO Martin Hosking said Redbubble was focused on enhancing the customer’s experience.
“The strategic priority for the group now is to ensure we extend the market leadership we have established,” Martin said.
“We intend to invest in the customer experience to improve loyalty and retention and ensure long-term higher levels of growth,” he added.
Shares in Redbubble have ended the day up 11.5 per cent at $5.35 each.