Marley Spoon Group SE Reports Q3 2024 Financial Growth

Marley Spoon Group SE, a subscription-based meal kit leader, has released its Q3 2024 results. The company reported an 8.3% increase in net revenue year-over-year, reaching €84.0 million. Operating EBITDA came in at €2.0 million, up €3.7 million from the previous year. The company maintained a cash balance of €9.5 million despite an operating cash flow of €(1.1) million for the quarter.

CEO Daniel Raab highlighted increased order values and engagement, driven by strategic marketing focusing on quality. The acquisition of bistroMD and order frequency improvements also contributed to the positive financial performance. Contribution margins expanded by 310 basis points, while marketing expenditures remained controlled, with a modest 3.4% increase year-over-year.

The company continues to refine its 2024 guidance, focusing on stabilizing revenue growth and expanding contribution margins. G&A costs saw a reduction of 2.3% despite newly consolidated costs from Bistro. This financial discipline has supported Marley Spoon in achieving consecutive positive Operating EBITDA quarters.