Articore Group – the parent company of Australian-born print-on-demand marketplace Redbubble – is expecting to hit its first full-year positive earnings in five years in FY26.
In its newly released annual report, the company thinks it will deliver an earnings before interest and tax of between $2 million and $8 million. Articore also expects to hit a positive underlying cash flow between $5 million and $12 million, and is guiding to a gross profit after paid acquisition (GPAPA) margin between 27 per cent to 29 per cent.
This follows a turnaround in the company over the last year, which also includes American-based print-on-demand marketplace TeePublic.
For FY25, Articore reported a 10 per cent fall in its overall marketplace revenue, dropping to $379.1 million. The company’s gross profit also fell by 5 per cent to $173 million.
Despite the fall, the group’s gross profit margin lifted to 45.6 per cent, up from 42.9 per cent in FY24.
Articore’s GPAPA margin also lifted by 90 basis points to 26.5 per cent, despite a 7 per cent slump in GPAPA to $100.6 million.
“The fourth quarter of FY25 marks an inflection point for Articore,” Articore Group CEO Vivek Kumar shared in the annual report. “With our first profitable fourth quarter in five years, record gross profit margin, and renewed cost discipline, we enter FY26 with momentum and a clear set of priorities.”
These priorities include stabilising marketplace revenue decline and positioning the group for growth with new revenue streams, expanding margins through cost savings, transforming technology platforms and operations and undertaking a strategic review of the company.
Within all this includes the launch of Dashery in early 2024, a new platform that allows creators to set up their own branded storefront, with their own custom domain.
“We have also begun work to integrate our technology stacks, starting with the marketing infrastructure in FY26, to improve efficiency and unlock new growth opportunities across marketplaces,” Kumar added.