Montreal meal-kit startup Goodfood sees revenue rise more than 400%

Montreal-based “meal kit” delivery company Goodfood Market saw quarterly revenue grow by 412 per cent year-over-year.

Goodfood (TSX:FOOD) reported revenue of $11.2 million during the three-month period that ended on Nov. 30, 2017. That’s up from $2.2 million during the equivalent period the year before. 

The company’s net loss shrunk from $3.1 million to $2.5 million

However, the company’s adjusted net loss, which excludes items not directly related to the company’s day-to-day operations, rose to $2.4 million from $421,697. The company credited that to planned investments intended to support growth and an increased marketing budget. 

Goodfood, which delivers ingredients and recipes to customers who cook the food themselves, had 45,000 active subscribers as of Nov. 30, 2017. That was up 463 per cent from 8,000 during the equivalent 2016 quarter. It was also up from 31,000 during…

Original published: 2018-01-11 23:08:03 Read the full Montreal News here

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