E-commerce printer Redbubble has posted soaring revenue for the first quarter of the 2017 financial year, the online business boosting earnings by 33 per cent and collecting $6m more in revenue compared to last year.

The ten-year-old online printer hit a revenue spike of $6m for the quarter ending on September 30, jumping from $23m in 2015 to $28.9m.

Redbubble also logged a net-operating cashflow of $2.7m for Q1 2017, with a closing cash balance of $36m as of last month. Its EBITDA loss dropped to $2.3m, $1m less than the same period last year.

[Related: Redbubble bursting into online print]

Commenting on his start-up company’s progress since landing on the ASX in May, founder and CEO Martin Hosking says Redbubble’s global growth and skyrocketing earnings are a testament to the online marketplace.

“Our marketplace continues to attract more artists and customers globally with solid margin and low customer acquisition costs. As a forecast, the business is moving towards profitability as it scales and gets the benefits of operational leverage,” says Hosking.

“The scaling of the business, that is revenue growing faster than expenses, is evidenced by the financial results for the quarter, which are in line with our FY17 forecast, despite the impact of a stronger Australian dollar.”

Redbubble also crossed off several operational goals from its 2017 to-do list this quarter, including the addition of four new fulfiller locations in Brisbane and in three US facilities, a Spanish-language version of the website and the launch of three new printed products.

The entrepreneurial hub reached industry acclaim in May after it successfully landed on the ASX in a $267m valuation.

It was founded in 2006 by three friends, and has now launched across the globe with 12 printing partners in 18 locations around the world. 

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter