DonkeyRepublic Holding (DONKEY) Q3 2023 earnings summary

Executive summary

• Record Q3 performance: revenue reached 40.9M DKK and EBITDA was 11M DKK, supported by higher rider revenue and stable operating costs.

• Rider activity and trip volumes grew strongly YoY, alongside a larger active fleet.

Financial highlights

• Revenue was 40.9M DKK, up 43% YoY from 28M DKK, the highest quarterly revenue reported.

• EBITDA was 11M DKK, supporting the trend of profitable growth reported in H1-2023.

• Operating costs remained stable despite significant revenue growth, supporting contribution margin improvement.

Outlook and guidance

• FY2023 revenue guidance was raised to 112–120M DKK from 97–112M DKK; stated growth range is 65–76%.

• FY2023 EBITDA guidance was raised to 9–13.5M DKK from 9–10.5M DKK.

• FY2023 EBIT guidance was raised to -11 to -6.5M DKK from -12 to -9.5M DKK.

• Guidance fulfillment depends on the remaining key drivers and assumptions in the 2022 Annual Report.