Earnings release
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15 October 2025 1QFY26 results reinforce step change in performance Articore Group Limited (Articore or the Group) releases an investor presentation, which the Group CEO and Managing Director, Vivek Kumar, will present at the Group’s upcoming Annual General Meeting (AGM) on Thursday, 23 October 2025. Reflecting the Board’s commitment to transparency, the Group has released this presentation ahead of the AGM so shareholders can consider the Group’s recent performance before casting their vote. Financial results The following table details the Group’s first quarter of FY26 (1QFY26) unaudited financial results. (A$M) 1QFY25 1QFY26 Change Marketplace revenue 1 87.8 82.0 (7%) Gross profit 39.4 41.5 5% Gross profit margin 44.9% 50.6% 5.7pp GPAPA 22.3 24.8 11% GPAPA margin 25.4% 30.2% 4.8pp Opex 23.7 21.5 (9%) EBIT (5.7) 0.8 +$6.5 Underlying cash flow 2 (4.2) 1.7 +$5.9 Group CEO and Managing Director remarks “FY26 is off to a strong start, with another solid quarter underscoring a step change in the Group’s performance. We’ve delivered our first profitable Q1 in four years with an 11% increase in gross profit after paid acquisition (GPAPA) and a $6.5 million EBIT turnaround - a clear sign that our focus on margins, cash flow, GPAPA, and EBIT is working, even against a backdrop of inflationary pressures and consumer uncertainty. We remain on track to deliver our FY26 guidance. MPR decline has stabilised at 6.6%, in line with the prior quarter’s 6.4%. Importantly, we are pursuing multiple levers to drive profitable revenue growth — from enhancing customer experience, to introducing new artist fees, and investing in Dashery. These results highlight the strength of our disciplined execution and position us to capture significant upside as demand normalises.” Page 1 For personal use only
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2025 Annual General Meeting The Group’s 2025 AGM will be held on Thursday, 23 October 2025 at 10:00am AEDT. The meeting can be accessed via the following link: https://meetings.lumiconnect.com/300-862-610-365. Meeting materials are available on the Group’s investor centre: https://www.articore.com/investor-centre/. Shareholders are strongly encouraged to cast their votes in advance of the AGM by lodging a Proxy Form. Proxy Forms must be lodged by 10.00am AEDT on Tuesday, 21 October 2025. The Board recommends shareholders vote FOR resolutions 1-5, and AGAINST resolution 6. For further information, please contact: Virginia Spring VP, Investor Relations virginia.spring@articore.com About Articore Group Articore owns and operates the leading global online marketplaces, Redbubble.com and TeePublic.com. The Group’s community of passionate creatives sell uncommon designs on high-quality, everyday products such as apparel, stationery, housewares, bags and wall art. Through the Redbubble and TeePublic marketplaces, independent artists are able to profit from their creativity and reach a new universe of adoring fans. For the artists’ customers, it’s the ultimate in self-expression. A simple but meaningful way to show the world who they are and what they care about. Founded in 2006, Articore Group (ASX: ATG) was previously known as Redbubble Limited (ASX: RBL). Forward-looking statements This announcement contains forward-looking statements in relation to the Articore Group, including statements regarding the Group’s intent, belief, goals, objectives, initiatives, commitments or current expectations with respect to the Group’s business and operations, market conditions, results of operations and financial conditions, products in research, and risk management practices. Forward-looking statements can generally be identified by the use of words such as "forecast", "estimate", "plan", "will", "anticipate", "may", "believe", "should", "expect", “project,” "intend", "outlook", "target", "assume" and "guidance" and other similar expressions. The forward-looking statements are based on the Group’s good faith assumptions as to the financial, market, risk, regulatory and other relevant environments that will exist and affect the Group’s business and operations in the future. The Group does not give any assurance that the assumptions will prove to be correct. The forward-looking statements involve known and unknown risks, uncertainties and assumptions and other important factors, many of which are beyond the control of the Group, that could cause the actual results, performances or achievements of the Group to be materially different to future results, performances or achievements expressed or implied by the statements. Factors that could cause actual results to differ materially include: changes in government and policy; actions of regulatory bodies and other governmental authorities such as changes in taxation or regulation (or approvals under regulation); the effect of economic conditions; technological developments; and geopolitical developments. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as at the date of the announcement. The Group disclaims any responsibility for the accuracy or completeness of any forward-looking statement. Except as required by applicable laws or regulations, the Group does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in assumptions on which any such statement is based. Any projections or forecasts included in this announcement have not been audited, examined, or otherwise reviewed by the independent auditors of the Group. This announcement was authorised for release by Articore Group Board. Page 2 For personal use only
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Endnotes 1. Marketplace revenue is total revenue less creator revenue. 2. Underlying cash flow defined as operating EBITDA plus net interest earned, less lease related expenses (excluding the impact of lease impairments), payments for capitalised development costs and property, plant and equipment (PPE). Page 3 For personal use only