HelloFresh stock holds ground as investors weigh profit recovery after 2025 losses

HelloFresh SE (ISIN DE000A161408) reported a mixed picture for fiscal 2025, with revenue growth but a swing to losses and a renewed focus on profitability, a backdrop that continues to shape HelloFresh stock for investors following the latest annual figures as of 2025.

Revenue tops EUR 7.6 billion in 2025

According to the companys annual report for fiscal 2025, HelloFresh generated revenue of approximately EUR 7.6 billion in 2025, compared with around EUR 7.6 billion in 2024, reflecting broadly stable top-line development after years of rapid pandemic-driven expansion.

The annual disclosure shows that total orders and active customers remained at a high level, underlining that the group has largely maintained its enlarged customer base despite a tougher consumer environment.

EBITDA margin compressed versus prior years

While sales held up, profitability weakened noticeably. In the 2025 financial year, HelloFresh recorded adjusted EBITDA of around EUR 350 million, after roughly EUR 430 million a year earlier, as higher fulfillment and marketing expenses weighed on margins.

This translated into an adjusted EBITDA margin in the mid single-digit percentage range for 2025, down from a high single-digit level achieved in earlier years when pandemic conditions boosted volumes and operational leverage.

Meal-kits and ready-to-eat drive scale

The business model still rests on two main pillars: classic meal-kit subscriptions and a fast-growing ready-to-eat offering, with management highlighting that the ready-to-eat segment again delivered double-digit revenue growth in 2025 from a comparatively lower base.

Share price reflects a transition phase

In equity markets, HelloFresh stock has typically traded at a market capitalization in the low single-digit billion euro range in recent months, noticeably below the peak valuation achieved during the pandemic years when revenue and profits were temporarily elevated.