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Revenue grew 40% year-over-year to $2.04 billion, beating the consensus estimate of $1.93B, driven by growth in Marketplace GOV, the addition of Wolt, improved logistics efficiency, and lower credits and refunds as a percentage of Marketplace GOV.
Total Orders grew 27% year-over-year to 512 million in Q1, driven by growth in consumers and consumer engagement and the addition of Wolt.
Marketplace GOV rose 29% year-over-year to $15.9B in Q1, driven primarily by organic growth in Total Orders and the addition of Wolt.
For Q2/23, the company expects marketplace GOV in the range of $15.9 – $16.2B and adjusted EBITDA of $180 – $230M.
For the full year, the company expects marketplace GOV in the range of $63.0 – $64.5B and adjusted EBITDA of $600 – $900M.
By Davit Kirakosyan
