The Redbubble Ltd (ASX: RBL) share price was trading 22% higher today after delivering a robust update for shareholders. Over the past month, shares of Redbubble have pushed 17% higher.
For comparison, the S&P/ASX 200 (INDEXASX: XJO) is down 1% in the same time.
About Redbubble
Redbubble is an Australian online retail marketplace business specialising in customised graphic design and speedy fulfilment of orders.
It has relationships with fulfillers or manufacturers around the world which process orders for freelance artists and users who are seeking products such as custom t-shirts, mugs, cups, posters and lots more. Redbubble was founded in 2006.
What’s Happened?
In an ASX announcement today, Redubble delivered its 2019 first quarter (1Q) update and cash flow update to shareholders.
As Rask Media’s Jaz Harrison pointed out today, Is It Time To Buy Rebubble Shares?, the company heralded its 43% jump in marketplace revenue and 37% gross profit margin as key achievements.
Redbubble’s operating EBITDA rose to be $3.7 million, but free cash flow — the most important measure of profitability — was positive at $7.8 million for the quarter.
Looking into the future, Redbubble says it is focused on continuing its key initiatives such as growing active membership numbers (which stood at 2.8 million during the quarter) and improving revenue for — and from — authentic sellers on its platforms.
To read more about Redbubble click here. Or if you’re interested in Redbubble shares, other technology shares to consider alongside it include Nearmap Ltd (ASX: NEA) and Webjet Ltd (ASX: WEB).
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Disclosure: At the time of publishing, Owen does not have a financial interest in any of the companies mentioned.
