HelloFresh Posts 1st Profitable Quarter Since IPO
German-based HelloFresh saw a strong Q2 both in the United States and internationally, according to its recently released fiscal reports. HelloFresh group revenue for the quarter grew by 37 percent year-over-year to €437 million (US $488.4 million), or 31.5 percent year-over-year in constant currency.
The meal-kit company also noted 30.6 percent year-over-year active customer growth, and is on track to deliver more than 250 million meals in 2019. In the United States during Q2, HelloFresh had 1.35 million active customers, 4.88 million orders and 32.2 million meals delivered.
U.S. revenue grew to €245.4 million (US $274.2 million) in Q2 2019, up from €188.9 million (US $211.1 million) in Q2 2018, a 29.9 percent year-over-year increase.
"Since the very beginning, our mission has been to change the way people eat. Each day, we have a profound impact on millions of people's lives, by passing on significant savings to them, bringing families and friends closer together, and by delivering healthy, wholesome meals to their homes. Doing this at a rate that only few other high-growth companies can achieve makes us proud. It’s a great motivational force for everybody at HelloFresh," said Dominik Richter, the Berlin-based company's CEO and co-founder.
Also notable from the financial results, HelloFresh group is, in line with its guidance, AEBITDA positive in Q2 2019, with an AEBITDA margin of 4.2 percent (U.S. AEBITDA margin of 2.9 percent).
The company is narrowing its full-year guidance toward the upper end of initial projections. It expects 2019 revenue growth at about 28 percent to 30 percent on a constant-currency basis.