Redbubble parent Articore’s net loss narrows despite lower revenue

Celene Ignacio

21st Aug 2024

Articore Group‘s net loss narrowed to $8.8 million amid lower revenue in the last fiscal year.

The company’s marketplace revenue declined 9.5 per cent to $423.1 million while artist revenue plunged 20.2 per cent to $69.9 million.

Redbubble’s marketplace revenue dipped 17 per cent to $241.3 million while TeePublic’s revenue rose 3 per cent to $181.8 million.

The group noted it expects trading conditions to remain mixed in its key markets especially in the US.

It said it will remain focused on optimising cost of goods sold and paid marketing activities to extract maximum value from both marketplaces.

“In FY25, we will remain cash flow positive while extracting maximum value from both marketplaces, maintaining cost discipline and maximising synergies across the group,” said Martin Hosking, Articore CEO and MD.

“This will enable us to invest in organic opportunities that leverage our distinctive assets including our well established and growing base of global creators and their content, growing fulfilment network and superior unit economics.”