Marley Spoon Group SE Reports Positive Operating EBITDA in Q2 2024 and Annual Growth to €86.8M in Net Revenue

Marley Spoon Group SE, a global leader in subscription-based meal kits, announced its Q2 2024 financial results, showing a net revenue of €86.8 million, a 0.9% year-over-year increase. The company also reported an operating EBITDA of €1.1 million, albeit a decrease of €1.4 million compared to the previous year.

CEO Daniel Raab attributed the revenue growth to the acquisition of bistroMD and improvements in customer retention and lifetime value. The focus on higher quality customer cohorts and reduced discounts helped increase the company's contributions positively.

Despite a €5 million negative operating cash flow in Q2 2024, Marley Spoon ended the quarter with €16.6 million in cash. Marketing investments grew by 18.4% year-over-year, particularly in the US and Ready-to-Heat segments, reflecting strategic expansion efforts.

G&A costs decreased by 11.8% compared to the previous year, thanks to earlier cost reduction measures. CFO Jennifer Bernstein reaffirmed the company's guidance for 2024, projecting single-digit net revenue growth and mid-single-digit positive operating EBITDA for the entire year.