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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