Slide 1: FY25 Results
FY25 Results 14 August 2025
Slide 2: 4QFY25 results signal step change in performance
4QFY25 results signal step change in performance; Group positioned to deliver positive EBIT in FY26 FY25 guidance achieved; GPAPA 4QFY25 FY25 towards top end of guidance Marketplace range and positive underlying cash flow $79.2m Revenue $379.1m 4QFY24: $84.6m, -6% FY24: $423.1m, -10% Gross Gross profi
Slide 3: Business update
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Slide 4: Two distinct marketplaces operating at scale
Two distinct marketplaces operating at scale Selling artists 51% 49% Selling artists Net artist Net artist 542k earnings $30.2m FY24: 57% FY24: 43% earnings $18.5m 167k FY24: 136k FY24: 575k FY24: Marketplace revenue Marketplace revenue FY24: $19.2m $39.7m contribution contribution Customers Custome
Slide 5: Integration timeline
Transformation of organisation structure driving significant synergies, cost reductions and improved performance Integration timeline Oct Jan Mar FY26 and 2024 2025 2025 beyond Restructure Supply chain Marketing Technology $12 - $14 million 4QFY25 Unlocking further Initial benefits opex reductions and
Slide 6: FY25 improvement to gross profit margins driven by supply chain efficiencies
FY25 improvement to gross profit margins driven by supply chain efficiencies Redbubble and TeePublic marketplaces’ gross profit margins1 (1QFY23 to 4QFY25) Key actions: 60% ● Consolidated garment blanks across marketplaces driving significant annualised savings 50% ● Negotiated logistics with combined v
Slide 7: Redbubble marketplace's new paid marketing strategy beginning to deliver results
Redbubble marketplace’s new paid marketing strategy beginning to deliver results Redbubble’s paid marketing efficiency1 Key Start (1QFY25 to 4QFY25) priorities date Prior to FY25, increase in paid spend, did not lead to a commensurate increase in MPR. Improve paid marketing efficiency 4QFY25 3QFY25 20
Slide 8: Leveraging AI across the flywheel to enhance user experience and drive efficiencies
Leveraging AI across the flywheel to enhance user experience and drive efficiencies Creators & Fulfilment & Content Discovery Customers Service Operations ● Artist approval workflows powered by ● AI leveraged across marketing ● Across engineering and product, AI detect fraud patterns and reduce function
Slide 9: Leveraging our established creator base to grow new revenue stream, Dashery
Leveraging our established creator base and experienced sales team to grow new revenue stream, Dashery Re-engaging high-value creators FY25 investment1: Tanner the Planter 1.8m TikTok followers 0.6m Instagram followers Adamtots 1.6m Instagram followers Old Gods of Appalachia 35k podcast followers 5k
Slide 10: FY25 financial overview
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Slide 11: 4QFY25 and FY25 Group profit and loss statement
4QFY25 and FY25 Group profit and loss statement P&L (A$M) 4QFY24 4QFY25 % change FY24 FY25 % change Total revenue 98.9 91.9 (7%) 493.0 438.6 (11%) MPR 84.6 79.2 (6%) 423.1 379.1 (10%) MPR revenue decline stabilised. 4QFY25 down 6% vs 10% for FY25 Gross profit 38.4 39.4 2% 181.7 173.0 (5%) Gross profit
Slide 12: FY25 marketplace highlights
FY25 marketplace highlights MPR decline Marketplace MPR growth in driven primarily by deterioration in contribution $194.7m revenue $184.0m tough consumer environment with margin expansion from organic sources FY24: $241.3m, -19% FY24: $181.8m, +1% Gross Gross $91.7m profit margin Gross profit margin
Slide 13: Sustainable improvement to margins and reduced cost base provides foundation for positive EBIT in FY26
Sustainable improvement to margins and reduced cost base provides foundation for positive EBIT in FY26 Group gross profit and GPAPA margin Operating expenditure (1QFY23 to 4QFY25) (millions, FY23 to FY25) $130 29% reduction 50% in opex base 4QFY25: 1QFY23: 49.7% 129 39.1% 40% $105 Gross profit average
Slide 14: Positive underlying cash flow after absorbing investment in Dashery
Positive underlying cash flow after absorbing investment in Dashery FY25 cash balance (July 2024 to June 2025) $3.8 $36.9 Excluding investment in $3.2 Dashery, Group delivered $28.4 positive underlying cash flow $7.8 of $3.8 million $1.3 12-month share buy back program ended June 2025 Group expects to
Slide 15: Outlook
Outlook Sutimemsage Fal
Slide 16: After the strongest quarter in years, we are focused on accelerating this momentum
After the strongest quarter in 5 years, we are focused on accelerating this momentum Stabilise Drive Transform Undertake MPR decline and further cost savings the marketplaces’ a strategic review FY26 return the Group and efficiencies to tech stacks and to assess priorities to growth improve margins o
Slide 17: Addressing MPR decline primary focus in FY26
Addressing MPR decline primary focus in FY26 MPR year on year change New (1QFY23 to 4QFY25) revenue streams 30% TeePublic Post COVID, TeePublic has delivered MPR growth with margin expansion. Scaling high-performing content 20% 10% Enhancing monetisation opportunities - - new artist account fee stru
Slide 18: FY26 guidance
FY26 guidance1 GPAPA margin 27% - 29% EBIT $2m - $8m Underlying cash flow $5m - $12m 1. Our ability to achieve this aim is highly dependent on various factors including consumer demand, foreign exchange rates, geographic and product mix
Slide 19: Supplementary information
Supplementary information
Slide 20: Geographic diversity by sales contribution
Geographic diversity by sales contribution North America North America 71% 72% Europe and United Kingdom Gross transaction value 20% 40 third-party Australia and New Zealand fulfiller sites 7% May represent multiple third-party fulfiller sites. 20
Slide 21: 4QFY25 and FY25 profit and loss statement
4QFY25 and FY25 profit and loss statement % % P&L(A$M) 4QFY24 4QFY25 % cc change FY24 FY25 % cc change change change Total revenue 98.9 91.9 (7%) (10%) 493.0 438.6 (11%) (12%) Less: creator revenue (14.3) (12.6) (11%) (15%) (69.9) (59.6) (15%) (16%) MPR 84.6 79.2 (6%) (10%) 423.1 379.1 (10%) (12%) Un
Slide 22: Glossary
Glossary Term Definition $ All references to dollar amounts or figures are in AUD unless stated otherwise 1H/2H First or second half of the financial year 1Q/2Q/3Q/4Q First, second, third or fourth quarter of the financial year AI Artificial intelligence Selling artists Number of active artists who sold
Slide 23: Important notice and disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation contains summary information about Articore Group Limited (ACN 119 200 592) and its related bodies corporate (together, the Articore Group or the Group) and the Group’s activities as at the date of this presentation. It is information given in summar
Slide 24: Contact us
Contact us: Virginia Spring VP, Investor Relations investor.relations@articore.com