Redbubble vs Teespring: Revenue, Profit and Business Model
Redbubble reported ~$263.5M of revenue in FY2026 and ~$7M of net income. Teespring reported $2M of revenue in FY2025 and — of net income.
Latest financial snapshot
Financial summary
Redbubble
Articore Group (ASX: ATG), the owner of Redbubble and TeePublic, reported FY26 (year to 30 June 2026) revenue of ~$263 million (A$408.5 million), down 6.9%, with marketplace revenue down 6.5% to ~$229 million (A$354.5 million). Gross profit rose 1.7% to ~$113 million (A$175.9 million) at a record 49.6% margin, operating EBITDA rose 76.9% to ~$10.6 million (A$16.4 million), and EBIT reached ~$6.64 million (A$10.3 million), a ~$13 million (A$20.1 million) swing from FY25. Net profit was about $7.03 million (A$10.9 million) and cash rose to ~$26.1 million (A$40.5 million) from ~$18.3 million (A$28.4 million). Operating expenses fell to ~$54.8 million (A$85 million), 34% below FY23. FY27 guidance is operating EBITDA of A$17-23 million.
Teespring
Teespring raised venture capital in its early years, including a 2014 Series A led by Andreessen Horowitz and a $35 million Series B led by Khosla Ventures. Teespring never published audited revenue as a private company. Its financials first became public after Fresh Vine Wine (NYSE American: VINE) completed its acquisition of Amaze Software, the owner of Spring and the Teespring Marketplace, in March 2025 and renamed itself Amaze Holdings (AMZE). Amaze reported full-year 2025 revenue of about $1.97 million. In Q2 2026, revenue was about $0.6 million, up roughly 32% from Q1, and the net loss narrowed to about $4.4 million from $5.6 million. Cash rose to about $2.4 million, and the company retired its Series A preferred stock.
Revenue and profit by year
Redbubble
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$263.5M | ~$7M | 2.7% | -6.9% | Source |
| FY2025 | ~$282.9M | ~-$7.3M | -2.6% | -11.0% | Source |
| FY2024 | ~$318M | ~-$5.7M | -1.8% | -11.2% | Source |
| FY2023 | ~$358.1M | ~-$34.9M | -9.8% | -3.2% | Source |
| FY2022 | ~$369.8M | ~-$15.9M | -4.3% | — | Source |
Teespring
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $2M | — | 0.0% | — | Source |
Business model and strategy
Redbubble
How it makes money
Redbubble earns money as the merchant of record on every sale. Artists upload designs for free and set a margin on top of a base price; a shopper pays the retail price; Redbubble routes the order to a third-party printer near the customer, pays the fulfiller's base cost, pays the artist's margin, and keeps the rest along with shipping revenue.
Growth strategy
Since 2023 the strategy has shifted from chasing sales volume to profitable revenue. Management merged Redbubble and TeePublic operations under one marketplaces team, consolidated supply chains, cut operating costs by about a third from FY23, introduced artist account fees, and made paid marketing more selective. The aim now is to return revenue to growth while scaling Dashery and Frankly Wearing.
Competitive advantage
Redbubble's main advantage is a very large catalog of artist-made designs covering niche fandoms, hobbies and jokes that a stock-holding retailer could not economically carry. That long tail produces millions of indexable product pages that attract organic search traffic.
Teespring
How it makes money
Spring earns money on the difference between what a product sells for and what it costs to make. Spring sets a base cost for each item, covering the blank, printing, packaging and fulfillment. The creator sets the retail price and keeps the margin above that base cost. Spring handles payment, production, shipping and customer service, so creators carry no inventory.
Growth strategy
Amaze is pursuing growth on three fronts. The first is Amaze Commerce, with storefronts, product design, manufacturing and fulfillment, plus paid advanced services. The second is distribution through media and vertical communities, starting with Food Channel.
Competitive advantage
Spring has three main advantages. First, it has a long-standing integration with the YouTube merch shelf, where it was a launch partner in 2018, plus storefront links for TikTok, Twitch and Discord. Second, creators can start with no inventory, no minimum order and no upfront cost. Third, the Teespring name is widely recognized in creator merch.
Questions about Redbubble vs Teespring
Which company has higher revenue — Redbubble or Teespring (Spring by Amaze)?
Redbubble reported ~$263.5M (FY2026), while Teespring (Spring by Amaze) reported $2.0M (FY2025). By last reported revenue, Redbubble is the larger business, with Teespring (Spring by Amaze) reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Redbubble vs Teespring (Spring by Amaze)?
Redbubble has a market capitalisation of $109M. A public market cap figure for Teespring (Spring by Amaze) was not available (it may be privately held).
Which is more financially efficient — Redbubble or Teespring (Spring by Amaze)?
Redbubble generates $1.01M / employee in revenue per employee. A comparable figure for Teespring (Spring by Amaze) requires matching employee and revenue data from the same reporting period.
How do Redbubble and Teespring (Spring by Amaze) make money?
Redbubble and Teespring (Spring by Amaze) generate revenue in fundamentally different ways. Redbubble: Redbubble earns money as the merchant of record on every sale. Teespring (Spring by Amaze): Spring earns money on the difference between what a product sells for and what it costs to make.
Is Redbubble bigger than Teespring (Spring by Amaze)?
By last reported revenue, Redbubble (~$263.5M (FY2026)) is the larger company compared to Teespring (Spring by Amaze) ($2.0M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Redbubble vs Teespring overview