Marley Spoon Reports Progress in Q1 2024 Financial Results

Marley Spoon Group SE, a prominent global meal kit provider, disclosed its financial results for the first quarter ending March 31, 2024. The company reported a net revenue of €80.7 million, marking a nearly 10% increase quarter-over-quarter. This growth is attributable to refined marketing strategies implemented in late 2023, focusing on acquiring high-quality customers with fewer discounts.

The company also manifested a notable increase in its Contribution Margin, which rose by 335 basis points to 34.4% compared to the previous year. This improvement was supported by a transition to an asset-light model in the U.S., resulting in enhanced operational efficiencies and cost savings. Consequently, Operating EBITDA for Q1 turned positive, reaching €0.2 million, a substantial improvement of €6.6 million year-over-year.

Looking ahead, Marley Spoon continues to uphold its financial guidance for 2024, anticipating single-digit net revenue growth and a mid-single-digit positive Operating EBITDA for the full year. These projections reflect the company's robust strategic positioning and operational adjustments aimed at sustained growth and profitability.