The warning comes as Europeans face a squeeze in the cost of living due to higher energy bills and runaway inflation, exacerbated by the Russia-Ukraine crisis.
The 12% quarterly growth in gross transaction value (GVT), or the monetary value of all food orders on its platform, was higher than a year earlier, but stocks have fell 3% in early trading and analysts became skeptical.
“For a growing business like Deliveroo, this (quarterly GTV growth) figure is not extraordinary. In fact, it’s a warning that the rest of the year is going to be quite volatile,” said Danni Hewson, analyst at AJ Bell.
At the height of the pandemic last year, Deliveroo, which competes with companies like Uber Eats and Just Eat Takeaway, enjoyed strong orders from people stuck inside.
“Consumer behavior could moderate over the course of the year, and that’s reflected in our guidance,” Deliveroo founder and chief executive Will Shu said, even though the company is sticking to annual growth in VTG of 12% 25% that she provided last month.
“We remain confident in our ability to adapt financially to any further changes in the macroeconomic environment.”
Great Britain and Ireland represent nearly 54% of the company’s global GTV.