Marley Spoon’s half-year loss has widened by 12 per cent to 21.6 million euros ($A35.4 million) as the meal-kit provider increases its spending to serve a growing customer base.
The company lifted its global revenue for the six months to June 30 by 55 per cent to 61.38 million euros, with 91 per cent of this driven by repeat customers ordering larger baskets
The ASX-listed company did not declare a dividend but said its Australian operations were profitable on an earnings basis for the first time in the second quarter.
First-half revenue in Australia increased by 41 per cent to $21.3 million.
Marley Spoon said it grew its active global customer base by 38 per cent to 172,000, up from 125,000 for the corresponding period.
Chief executive Fabian Siegel said the business was on its way to building sustainable long-term earnings growth, and was pleased with its first anniversary listed on the ASX.
“Our first year as a public company was an important milestone and we look forward to continued growth ahead,” Mr Siegel told investors on Friday.
New manufacturing technology was rolled out in Europe and Australia, which the company believes will help drive guidance of operating earnings profitability by 2020.
In June this year Marley Spoon entered into an exclusive strategic partnership with Woolworths worth $30 million.
Mr Siegel said it was too soon to dive into detail about the deal, but noted various opportunities for growth including utilising Woolies’ highly successful rewards program.
AAP
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