Redbubble reported a net loss of $24.6 million, down from a net profit of $31.2 million in FY21.
The online marketplace firm said overall the Group invested substantially in both the artist and customer experiences to improve loyalty and retention and to ensure long-term growth.
?Importantly, in FY22 artist upload continued to grow from the prior year, and the positive trend of purchases by repeat customers increased to 46% of Marketplace Revenue? said CEO Michael Ilczynski.
Redbubble shares plummeted 40% in morning trade.