We also maintained a strong rate of five orders per customer in the quarter, even as travel was cited by customers as the greatest driver of cycle skips in the third quarter and at the highest level since we started tracking the data,” said Linda Findley, Blue Apron’s President and Chief Executive Officer.

We are encouraged by 2021 third quarter net revenue of $109.7 million, which marked a more than 10% increase compared to the third quarter of 2019, which we accomplished despite the return to more normal seasonality experienced in Q3, as well as external challenges related to higher labor, food and logistics costs. “Our focus on providing increased variety and flexibility to our customers through the continued roll out of product innovations, including Heat & Eat, our first-ever prepared, single-serving meal, has proven to be successful, as evident in the growth of our Average Order Value (AOV) to a third quarter record of $62.30. (NYSE:APRN) announced today financial results for the quarter ended September 30, 2021. Plans to use a portion of the net proceeds from the capital raise to significantly increase investments in marketing initiatives in 2022, primarily to drive new customer growth which is expected to result in at least mid-teens percentage year over year net revenue growth.Īnnounced plans for expanded Environmental, Social and Governance (ESG) initiatives.īlue Apron Holdings, Inc. Subsequent to the third quarter, strengthened balance sheet and significantly improved financial flexibility by completing an equity capital raise with gross proceeds of $78.0 million. Adjusted EBITDA was a loss of $11.7 million. Third quarter 2021 net loss was $27.6 million, inclusive of a non-cash charge of approximately $6.4 million related to the change in fair value of the warrant obligation issued to the company’s lenders. Average Order Value, Orders per Customer and Average Revenue per Customer all showed strong growth compared to the pre-pandemic third quarter of 2019, despite modest declines in those metrics from a year ago as seasonality returned. Net revenue for the third quarter 2021 decreased approximately 2% year over year to $109.7 million and increased approximately 10% compared to net revenue in the pre-pandemic third quarter of 2019.Ĭontinued year over year growth in Average Order Value, which increased over 6% to $62.30, reflecting the benefit of the company’s growth strategy.

Blue apron earnings