The turnaround of Articore Group – the parent company of Melbourne-born platform Redbubble, which sells print-on-demand products, including apparel – appears to be on track according to its half-year results.
The group, which also manages TeePublic in the United States, reported a marketplace revenue slip of 3.2 per cent in the second quarter of FY26 to $138.4 million. This is down from a 6.6 per cent fall in the first quarter, both compared to the same time last year.
This slight improvement, matched with a 4.3 per cent drop in operating expenditure due to lower employee and software costs, led to an earnings before interest and tax (EBIT) jump of 226 per cent in the second quarter to $11.3 million.
For the entire first half, Articore’s EBIT returned to positive.
With these recent improvements, the group upgraded its EBIT guidance for FY26, now expecting to hit between $6 million and $10 million. Previously, this was $2 million to $8 million.
The group has also tightened guidance for underlying cash flow to the top end, now $8 million to $12 million.
“Our first-half performance validates our turnaround strategy,” Articore CEO and managing director Vivek Kumar said. “We materially improved profitability, generating a $14 million uplift in EBIT, expanded margins, and strengthened our marketplace revenue trajectory, while continuing to invest in platform capability and customer experience.
“We enter the second half focused on disciplined execution and accelerating the improvements already underway to support future growth.”
The group continues to expect to deliver a GPAPA margin between 27 per cent and 29 per cent.