(Deliveroo) Deliveroo reported a revenue of 1.824 billion pounds in FY21, up by 57% from the previous year.
Despite the revenue increase, Deliveroo reported an adjusted EBITDA loss of 131.4 million pounds, widening from a loss of 10.8 million pounds in the prior year.
Deliveroo reported a gross profit of 497 million pounds in FY21, an increase of 43% from the previous year.
The delivery firm reported a loss before income tax of 298 million pounds in the year, an increase from a loss of 213 million pounds in 2020.
The gross transaction value was reported at 6.63 billion pounds, an increase of 70% from the prior year. The GTV growth was a slowdown from an increase of 104% and 46% in the first half and second half of the year, respectively.
The company now projects that it will reach an adjusted EBITDA breakeven level in the second half of 2023 or the first half of 2024. The company expects to reach a positive margin of 4% by 2026. GTV growth in 2022 is expected to be in the range of 15-25%.
ROO: LON is down -0.65%.
