Articore Group posts 28% steeper loss in FY25
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The news: Articore Group, the owner and operator of online marketplace Redbubble, has reported a statutory net loss after tax 28% larger than the previous year's loss as the company remains focused on its turnaround strategy.
The numbers: Articore’s statutory net loss after tax came in at $11.3 million, compared to the $8.8 million loss reported in FY24. Net marketplace revenue was $379.1 million, 10% lower than the previous year’s $423.1 million.
The market consensus estimate for the net loss, according to Visible Alpha, was $5.2 million and no dividend was expected. The consensus for net marketplace revenue was $385.6 million.
Articore also posted a $9.8 million EBIT loss compared, 5% smaller than the $10.3 million in the previous year. Underlying cash flow declined 35% to about $600,000.
In FY26, the company expects to deliver EBIT between $2 million and $8 million and underlying cash flow between $5 million and $12 million.
The context: Articore said it has delivered its best June quarter in five years, as the company hit its highest gross profit margin to date of 49.7%.
The online marketplace operator says this is a significant milestone in the company's turnaround strategy.
What they said: "This positive trajectory is a result of the disciplined restructuring and execution, including combining our marketplace operations under one executive team," Articore Group CEO and managing director Vivek Kumar said.
The source: ASX
