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● ● ● Melbourne , Australia ; 14 October 2021 : Redbubble Limited ( ASX : RBL ; ADR : RDBBY ) today provided a trading update relating to the first quarter ( 1Q ) ended 30 September 2021. 1Q FY2022 results came in line with expectations , with the business continuing to retain the majority of the accelerated revenue growth that occurred during FY2021 . Redbubble also saw improving performance from July to September and reiterates the FY2022 outlook statements provided in August . ● RB REDBUBBLE 1Q FY2022 Financial Performance¹ Redbubble's 1Q key financial metrics ( with YoY growth rates , where applicable ) are : GTV of $ 142 million , down 21 % ( 20 % on a constant currency basis² ) ● Marketplace Revenue ³ of $ 106 million , down 28 % ( 27 % on a constant currency basis ) Gross profit of $ 42 million , down 34 % ( 33 % on a constant currency basis ) EBITDA of $ 3.9 million , down 85 % ( 91 % on a constant currency basis ) Operating cash inflow of $ 11 million , compared to $ 27 million in 1Q FY21 Closing cash balance at 30 September 2021 of $ 109 million ● Trading Update 1Q FY2022 financial results in line with expectations Improving underlying performance from July to September Redbubble reiterates FY2022 outlook provided in August On a delivered basis , 1Q FY21 Marketplace Revenue included an $ 8 million positive delivery date adjustment ( " DDA " ) which was disclosed at the time . 1Q FY22 Marketplace Revenue was impacted by a $ 2 million negative DDA . Excluding masks and on a paid basis , underlying 1Q FY22 Marketplace Revenue was down 6 % ( 4 % on a constant currency basis ) . As the quarter progressed , underlying Marketplace Revenue growth improved from negative 11 % in July to negative 2 % in September . ¹The financial results are on a delivered basis ( unless otherwise noted ) and both these and any accompanying operating metrics are from internal management reports and have not been audited . 2 " Constant currency basis " reflects the underlying growth before translation to Australian dollars for reporting purposes . Redbubble sources about 90 % of its Marketplace Revenue in currencies other than Australian dollars . TeePublic sources about 85 % of its Marketplace Revenue in US dollars . ³ Marketplace Revenue is total revenue less artist revenue ( ie artist margin ) . 4 * Gross Profit is calculated based on Marketplace Revenue less fulfiller expenses , comprised of product and printing , shipping and transaction costs , and are equivalent to cost of goods sold . ³1Q FY21 Marketplace Revenue included $ 29 million and 1Q FY 22 Marketplace Revenue included $ 4 million of mask sales . Level 3,271 Collins Street , Melbourne VIC 3000 PO Box 274 , Flinders Lane VIC 8009 Ph : +61 3 9650 0138 Redbubble Limited ABN 11 119 200 592