BERLIN & SYDNEY–(BUSINESS WIRE)–Marley Spoon AG (“Marley Spoon” or the “Company” ASX: MMM), a leading global subscription-based meal kit provider, is pleased to share with investors its highlights from the quarter ended 31 March 2022 (“Q1 2022”).
Conference Call
Management will present a business update to investors on a conference call at 8:30 am AEDT on 28 April, the details of which have been released separately to ASX.
Highlights:
- Q1 2022 net revenue at €103m, +32% growth year-over-year (+27% growth in constant currency)
- Launch of Market, the Company’s marketplace offering customers add-ons and complementary food options to increase ARPU and support growth strategy
- Global Contribution Margin (CM) in Q1 at 27.3%
- Q1 Operating EBITDA loss of €(9.7)m as a consequence of the planned increased investment in marketing in the quarter
- Operating Cash Flow at €(4.1)m and quarter end cash balance of €20m providing balance sheet capacity to continue executing 2022 plans
- On track to deliver full year 2022 guidance
Marley Spoon CEO, Fabian Siegel, highlighted, “I am pleased to report we have had a good start to the year with Q1 results putting us on track to deliver our full year guidance. In Q1 we achieved solid growth at stable customer acquisition costs. Contribution margin was slightly down YoY, as we mostly offset global inflationary cost increases and the significant flooding in Australia which impacted our operations…
