Why is HelloFresh stock sliding today?

HelloFresh shares experienced a significant 6.0% decline, closing at €2.274 on September 24, 2026, following the company's release of a disappointing outlook for its 2026 financials. The German meal-kit provider now anticipates a full-year revenue decline of between 9% and 11%, a sharp contrast to the earlier forecast of a 3%–6% decrease.

This drop is attributed to a more aggressive reduction in marketing expenses during Q3 than initially planned, which hindered the company's ability to acquire new customers during the crucial back-to-school season. Additionally, Q3 revenue is expected to fall 11%–12% year-on-year, nearly double the consensus estimate of 6.8%, and adjusted EBITDA for the quarter is now projected at €45–55 million, down from the prior estimate of €57.2 million.

For the entire year, adjusted EBITDA is now expected to range from €350–370 million, a decrease from the previous forecast of €375–425 million. These revised figures led to an EPS revision for 2026, shifting from a small profit to a loss. The stock's decline was particularly stark, as the DAX rose by approximately 0.7%, indicating that HelloFresh's performance was not influenced by broader market conditions.

The company's shares have hit their 52-week low of €2.274, down from a high of €7.87, reflecting ongoing concerns about its revenue stabilization efforts and subscriber base growth. With the next Q3 results due on November 5, 2026, and no near-term visibility into whether the customer acquisition issue can be resolved, the stock continues to face significant pressure.