MusicMagpie's revenue and profits both increased during the first six months of its financial year, the same period when it completed its IPO.
The Greater Manchester-headquartered retailer, which resells the likes of second-hand phones, has reported a revenue of £72.5m for the period to May 31, 2021, up from the £70.2m it achieved during the same time in 2020.
The company's adjusted EBITDA also increased from £5.4m to £6.2m.
In a statement issued to the London Stock Exchange, the group said its financial performance for the period is "in line with management's expectations".
It added that growth continued to be driven by an increasing consumer adoption of circular economy models to recycle and reuse items, along with a rising consumer trend to buy goods and services from brands with "strong ESG credentials".
Chief executive and co-founder Steve Oliver said: "We are pleased with the strong underlying momentum within the business as musicMagpie begins its life as a listed company.
"The performance in the period demonstrates that the business continued on its growth trajectory whilst we successfully completed our IPO in April.
"We have continued to capitalise on the favourable long-term trends that are driving musicMagpie's growth as a leading re-commerce provider of consumer technology.
"We are particularly pleased with the performance so far of our new smartphone subscription service, for which we continue to see significant long-term potential."
The new financial figures come after musicMagpie commissioned a giant Mount Rushmore-style sculpture of the G7 leaders’ heads, made entirely of discarded electronics, which was placed on a beach near to Carbis Bay.
The sculpture, named Mount Recyclemore, aims to highlight the growing threat of e-waste on the planet as leaders of the world’s most advanced economies prepare to discuss how to tackle climate change and build a greener future.
Depicting world leaders including British Prime Minister Boris Johnson, American President Joe Biden and German Chancellor Angela Merkel, the e-waste sculpture has been created by musicMagpie and artist and founder of the Mutoid Waste Company, Joe Rush, alongside sculptor Alex Wreckage.
Joe Rush has previously collaborated with the likes of Banksy, Vivienne Westwood and Damien Hirst to create art about environmental issues and is now working with musicMagpie to raise awareness of a more sustainable way to buy, rent and sell consumer tech by encouraging a circular economy.
Mr Oliver added: "E-waste is a growing problem worldwide and its impact on the environment is significant. If sent to landfills, e-waste can leak harmful chemicals into the soil and water or if incinerated, fumes release chemicals into the air, contributing to global warming.
"Not only this, but everything from our phones to our laptops rely heavily on precious materials to operate, which are not only limited resources, but also directly impact climate change when being extracted from the earth.
"We need to better educate and empower people to make changes today. People can support a more sustainable, circular economy, by doing something as simple as trading in or recycling their tech, which will extend the life of those devices and their parts.
"Thanks to our customers, we are already able to give nearly half a million consumer technology products a second life each year."
