The Redbubble Ltd (ASX: RBL) share price gained another 6.25 per cent on the last day of trade for 2017, capping off a solid end-of-year run for the online market place's shareholders.
The company's share price has more than doubled since late September when Redbubble shares were trading for about 63 cents.
Shares in Redbubble are now going for about $1.53.
The company, with a market cap of about $319 million, was founded in 2006 and provides an online marketplace for artists selling "uncommon designs" on products such as apparel, bags and housewares.
Redbubble listed on the ASX in 2016 but after an initial spurt of investor interest the company's share price began a rocky descent which eventually ended in September 2017 before recently taking off, as indicated by the figures above.
Investors may have been put off by the company's lack of profits.
In financial year (FY) 2017, its first full financial year as a public company, Redbubble posted a net loss after tax of $7.6 million, almost 50 per cent higher than the forecasted operating loss of $5.2 million the company had previously provided.
Still, FY 2017's loss marked a significant improvement for the company's financial standing when compared to the previous year's loss of $19.8 million.
Redbubble ended FY 2017 in a "strong" position with $27.8 million cash on hand, according to the company.
And the future is looking good for Redbubble with the company expecting to move into EBITDA profitability during the second half of FY 2018.
For the first quarter of FY 2018 Redbubble said it benefited from "top line growth returning to a level of above 30 per cent on a constant currency basis".
Redbubble is not the only ASX listed company with a presence in the online retail world to see its share price post strong recent gains.
Kogan.com Ltd (ASX: KGN) share price gained more than 400 per cent last year.
And Ahalife Holdings Ltd (ASX: AHL), an online retailer selling luxury goods, made a late recovery in 2017, gaining almost 10 per cent during the last day of trade for the year.
While Redbubble certainly represents potential, the company's prospects of continuing to see its share price rise largely hinge on management's ability to deliver on their forecast of EBITDA profitability during the second half of FY 2018.
The fact the company missed its FY 2017 by almost 50 per cent is a cause for concern.
And if it wasn't for the lingering doubt concerning the company's ability to hit its targets Redbubble would be looking like a stronger buy.
