New Risk • Jun 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.7m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€20m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-€51m). Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Market cap is less than US$10m (AU$14.7m market cap, or US$9.81m). Anuncio • Jun 14
Marley Spoon SE, Annual General Meeting, Jul 19, 2024 Marley Spoon SE, Annual General Meeting, Jul 19, 2024, at 17:00 W. Europe Standard Time. Location: dentons europe llp, markgrafenstrabe 33, 10117 berlin Germany Reported Earnings • Mar 31
Full year 2023 earnings released: €0.078 loss per share (vs €0.13 loss in FY 2022) Full year 2023 results: €0.078 loss per share. Revenue: €328.5m (down 18% from FY 2022). Net loss: €46.4m (loss widened 17% from FY 2022). Reported Earnings • Mar 01
Full year 2023 earnings released: €0.074 loss per share (vs €0.13 loss in FY 2022) Full year 2023 results: €0.074 loss per share. Revenue: €328.5m (down 18% from FY 2022). Net loss: €44.3m (loss widened 12% from FY 2022). New Risk • Dec 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€25m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-€29m). Earnings have declined by 0.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$21.9m market cap, or US$14.4m). New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings have declined by 0.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€25m free cash flow). Negative equity (-€29m). Earnings have declined by 0.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$46.0m market cap, or US$29.6m). Anuncio • Oct 05
Marley Spoon SE Announces Board Changes Marley Spoon SE announced that it has appointed Daniel Raab as member of the management board (Vorstand) of Marley Spoon Group SE /COO succeeding Rolf Weber, who will continue in his role as Director and CEO of Marley Spoon Australia, as well as extended the appointment of Fabian Siegel as Chairman of the Management Board and Chief ExecutiveOfficer with retroactive effect as of 1 September 2023 until 31 August 2028. Daniel has 24 years of experience in e-commerce, retail and distribution including B2C and D2C businessmodels across different industries, both in Europe as well as in the United States. Amongst other companies, he worked at Amazon for 7 years and led two private equity backed e-commerce companies to success - including a successful IPO. Mr. Siegel founded Marley Spoon and has been Marley Spoon's CEO since 2014. He will continue in the role of CEO to lead the execution of Marley Spoon's accelerated growth strategy. Information on Mr. Siegel's professional experience can be found in the prospectus released by Marley Spoon dated 6 June 2018. Simultaneously, Marley Spoon Group SE ("MSG"), a 84% shareholder In the Company, appointed Daniel Raab as member of its management board (Vorstand) /COO and entered into a service framework agreement with Fabian Siegel which will replace the current service agreement with the Company. Reported Earnings • Sep 04
First half 2023 earnings released First half 2023 results: €0.035 loss per share. Revenue: €177.4m (down 16% from 1H 2022). Net loss: €22.7m (loss narrowed 16% from 1H 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Australia. Anuncio • Sep 01
Marley Spoon SE Affirms Earnings Guidance for the Year 2023 Marley Spoon SE affirmed earnings guidance for the year 2023. For the year, the company affirms high single digit to low double-digit net revenue decline vs. the PCP in constant currency. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€29m free cash flow). Negative equity (-€43m). Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$62.0m market cap, or US$40.2m). Anuncio • Aug 29
Marley Spoon Se Appoints Ms. Judith Jungmann to the Supervisory Board of the Company as Independent Non-Executive Director Marley Spoon SE announced the following Supervisory Board change. Ms. Judith Jungmann has been appointed to the Supervisory Board of the Company as an Independent Non-Executive Director, effective as of 25 August 2023, by the competent German commercial court. Her initial term will last until the next general meeting, during which Ms. Jungmann will stand for election by the shareholders. Ms. Jungmann is expected to succeed Mr. Christian Gisy as the Chair of the Nominations and Remunerations Committee. Ms. Jungmann is a highly regarded executive with a successful track record in human resources and people operations. Based in Germany, Judith is the CHRO of Beckers Group, the number one supplier of coil coatings and a leading supplier of industrial paints worldwide. Anuncio • Jul 12
Marley Spoon SE to Report Q2, 2023 Results on Jul 27, 2023 Marley Spoon SE announced that they will report Q2, 2023 results on Jul 27, 2023 New Risk • Jul 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€29m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€29m free cash flow). Negative equity (-€43m). Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$87.6m market cap, or US$58.5m). New Risk • Jul 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 151% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€43m). Shareholders have been substantially diluted in the past year (151% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€29m). Market cap is less than US$100m (AU$87.6m market cap, or US$58.0m). Anuncio • May 26
Roy Perticucci, Member of the Supervisory Board, Notifies Marley Spoon SE of His Intention, Effective as of 30 May 2023 Marley Spoon SE announced that Mr. Roy Perticucci, member of the Supervisory Board, has notified the Company of his intention to retire from his positions effective as of 30 May 2023 to pursue other interests. Anuncio • May 09
Marley Spoon SE, Annual General Meeting, Jun 15, 2023 Marley Spoon SE, Annual General Meeting, Jun 15, 2023, at 09:00 Central European Standard Time. Location: Dentons Europe LLP, Markgrafenstraße 33 Berlin Germany Agenda: To consider presentation of the approved individual financial statements as of December 31, 2022 and of the consolidated financial statements as of December 31, 2022; to consider the discharge of the members of the Management Board for the financial year 2022; to consider the discharge of the members of the Supervisory Board for the financial year 2022; to consider the appointment of the auditor for the individual financial statements and the consolidated financial statements for the financial year 2023, as well as for any review of interim financial statements and interim management reports during the financial year 2023; to consider by-election of a Supervisory Board member; to consider capital increase against contribution in cash under exclusion of subscription right; to consider an additional capital increase against contribution in kind under exclusion of subscription rights; and to transact other matters. Reported Earnings • Mar 01
Full year 2022 earnings released: €0.13 loss per share (vs €0.17 loss in FY 2021) Full year 2022 results: €0.13 loss per share (improved from €0.17 loss in FY 2021). Revenue: €401.2m (up 25% from FY 2021). Net loss: €39.7m (loss narrowed 14% from FY 2021). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Online Retail industry in Australia. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Breakeven Date Change • Feb 01
Forecast to breakeven in 2025 The 2 analysts covering Marley Spoon expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €7.80m in 2025. Average annual earnings growth of 69% is required to achieve expected profit on schedule. Anuncio • Jan 23
Marley Spoon AG to Report Q4, 2022 Results on Jan 30, 2023 Marley Spoon AG announced that they will report Q4, 2022 results on Jan 30, 2023 Recent Insider Transactions • Dec 13
Founder recently bought AU$750k worth of stock On the 9th of December, Gilbert Siegel bought around 5m shares on-market at roughly AU$0.16 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Gilbert's only on-market trade for the last 12 months. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: €0.17 loss per share (up from €0.46 loss in FY 2020). Revenue: €322.4m (up 27% from FY 2020). Net loss: €46.2m (loss narrowed 46% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 22%, compared to a 56% growth forecast for the retail industry in Australia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 19
First half 2021 earnings released: €0.11 loss per share (vs €0.41 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €158.0m (up 36% from 1H 2020). Net loss: €21.0m (loss narrowed 69% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Breakeven Date Change • Jul 31
No longer forecast to breakeven The 3 analysts covering Marley Spoon no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €2.06m in 2023. New consensus forecast suggests the company will make a loss of €12.4m in 2023. Executive Departure • Jun 15
Independent Vice Chairman of the Supervisory Board Christoph Schuh has left the company On the 11th of June, Christoph Schuh's tenure as Independent Vice Chairman of the Supervisory Board ended. We don't have any record of a personal shareholding under Christoph's name. Christoph is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.29 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Feb 26
Full year 2020 earnings released The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: €254.0m (up 96% from FY 2019). Net loss: €86.2m (loss widened 150% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 26
Revenue misses expectations Revenue missed analyst estimates by 0.04%. Over the next year, revenue is forecast to grow 26%, compared to a 66% growth forecast for the Online Retail industry in Australia. Is New 90 Day High Low • Feb 23
New 90-day high: AU$3.22 The company is up 53% from its price of AU$2.10 on 25 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is flat over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: AU$3.04 The company is up 16% from its price of AU$2.63 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 02
New 90-day low: AU$1.93 The company is down 38% from its price of AU$3.13 on 03 September 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 03
New 90-day low: AU$2.35 The company is down 29% from its price of AU$3.32 on 05 August 2020. The Australian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 7.0% over the same period. Recent Insider Transactions • Oct 31
Co-Founder recently sold AU$1.8m worth of stock On the 27th of October, Gilbert Siegel sold around 750k shares on-market at roughly AU$2.42 per share. This was the largest sale by an insider in the last 3 months. Gilbert has been a seller over the last 12 months, reducing personal holdings by AU$1.7m. 