Deliveroo (ROO) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 saw strong acceleration in order growth and gross transaction value (GTV), with both metrics up 9% year-over-year in constant currency.

• Order growth reached 7% year-over-year, improving from 6% in Q4 2024, with GTV per order up 2%.

• Both UK & Ireland (UKI) and International segments outperformed the market, with notable strength in UAE and Italy.

• Average monthly active consumers reached 7.0 million, up 4% year-over-year, and average monthly order frequency increased to 3.5.

Financial highlights

• Group GTV was £1,871 million, up from £1,727 million in Q1 2024, a 9% increase in constant currency.

• Group revenue grew 8% year-over-year in constant currency to £518 million.

• Revenue take rate was 27.7%, flat sequentially but down 40 bps year-over-year due to continued investments in consumer value proposition.

• UKI GTV grew 9% to £1,176 million, with orders up 7% to 42.6 million.

• International GTV rose 9% to £695 million, with orders up 7% to 30.0 million.

Outlook and guidance

• FY 2025 guidance maintained, with GTV growth expected in the high single digits (constant currency).

• Adjusted EBITDA forecasted in the range of £170-190 million, reflecting targeted investments for future growth.

• Management remains confident in guidance but notes ongoing macroeconomic uncertainty.