Marley Spoon Group SE Receives "Buy" Recommendation Amid Positive Q3 Results

Marley Spoon Group SE has been classified as a "Buy" by NuWays AG following its solid performance in Q3 2024. The company reported sales of €84 million, marking an 8% increase year-on-year, despite a slight decline in active subscribers due to seasonality and less dependence on discounts.

The strategic focus on increasing customer lifetime value and order size is reflected in a notable improvement in Marley Spoon's contribution margin, which reached 34.5%, up by 3.1 percentage points year-on-year. The company also achieved its fourth consecutive quarter with a positive operating EBITDA, totaling €2 million, a significant improvement from last year's €3.7 million loss.

Looking ahead, the company has raised its full-year 2024 contribution margin guidance, anticipating a 2.8-3.1 percentage point increase. The investment case remains strong, with expected growth from 2025 onwards, aiming for profitability by the end of 2026.