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Marley Spoon (MMM) investor relations material
Marley Spoon Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2024 net revenue reached €86.8m, up 0.9% year-over-year, with margin expansion and positive Operating EBITDA for the third consecutive quarter.
Revenue growth was driven by the acquisition of bistroMD and improved retention and LTV from higher quality customer cohorts and lower discounts.
Order frequency increased 5% YoY, and average order value rose 15% in constant currency, mainly due to bistroMD and expanded offerings.
Financial highlights
Gross profit for Q2 2024 was €37.5m (48.7% of revenue), up from €40.6m (47.3%) YoY.
Contribution margin expanded to 34.6%, up 2.8 points YoY; Operating EBITDA was €1.1m, down €1.4m YoY due to prior year one-off transaction costs.
Operating cash flow was €(5.0)m in Q2 2024; quarter-end cash balance stood at €16.6m.
Marketing expenses increased 18% YoY, while G&A expenses decreased 12% YoY due to cost reduction programs.
Outlook and guidance
Full-year 2024 guidance reaffirmed: single-digit net revenue growth (constant currency), contribution margin in line with prior year, and mid-single-digit positive Operating EBITDA.
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