What Happened to Redbubble Share Price?

Redbubble limited [ASX:RBL] shares have increased 5.71% today. Shares were trading at $1.48 at time of writing, up from $1.40 yesterday.

Why the share price increase?

Redbubble posted strong growth rates through the Christmas holiday season. This was helped by a healthy marketplace, with Redbubble achieving 33% top line growth for the first half of the financial year 2018.

Today, the leading global marketplace for independent artists, lodged its Quarterly Cash Flow Report for the quarter ending 31 December 2017.

In the first half of its financial 2018 (1H FY2018) performance, Redbubble is reporting a revenue of $102.3 million up 30.0%, with a gross profit of $35.3 million, up 24%.

Redbubble is driving forward on the back of its strong fundamentals:

  • A healthy vibrant marketplace.
  • Strong top line growth.
  • Increasing organic growth and profitable customer acquisition
  • Increasing operating leverage.

Redbubble’s marketplace dynamic remains strong, with artist and customer growth reflected in GTV growth.

What’s next for Redbubble’s future?

Looking onward, Redbubble is showing a solid performance across all aspects of the business coming into the second half of the FY2018.

And is continuing to shape sound marketplace dynamics, and scale operations with improving economics.

Redbubble is set to reach its top line currency growth rates, consistent with those achieved in the financial year 2017. The company is confident of meeting its previous guidance, of moving into an ongoing operating, earnings before interest, tax, depreciation and amortization (EBITDA) profitability late FY2018.

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Leah Wallace 

For Markets & Money

Markets & Money is unlike any other finance newsletter. Our mission is to look at the world of investments and finance in a sceptical and contrarian way. Our editorial team looks beyond the headlines and obvious explanations to bring you what we think is really moving the market. More importantly, we’re trying to show you where the next big opportunities and where the big risks are that you might not be aware of. In Markets & Money you’ll read about the state of the Australian housing market, the future of the commodity boom, China’s rise to an economic superpower, the fate of the US dollar, and of course a whole lot more.

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