Blue Apron Makes the Cut Despite Q3 Loss

By Chris Lange Updated Jan 12, 6:42AM EST · Published Nov 2, 8:45AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Blue Apron Makes the Cut Despite Q3 Loss — © Thinkstock

Blue Apron Holdings Inc. (NYSE: APRN) reported its third-quarter financial results before the markets opened Thursday. The company said that it had a net loss of $0.47 per share and $210.6 million in revenue, which compares with consensus estimates from Thomson Reuters of a net loss of $0.42 per share and revenue of $191.47 million. The same period of last year reportedly had a $0.56 per share net loss and $205.45 million in revenue.

During the quarter, the number of customers decreased by 6% year over year and decreased by 9% sequentially, reflecting the company’s planned decrease in marketing spend.

Average revenue per customer was $245 in the third quarter of 2017, compared to $227 in the same quarter of 2016 and $251 in the second quarter of 2017.

In terms of the outlook for the second half of 2017, management expects to see net revenues in the range of $380 million to $400 million and adjusted EBITDA of −$70 million to −$75 million. The consensus estimates call for a net loss of $0.22 per share and $199.57 million in revenue for the fourth quarter.

[nativounit]

On the books, Blue Apron cash and cash equivalents totaled $266.29 million at the end of the quarter, up from $81.47 million at the end of the previous fiscal year.

Matt Salzberg, CEO of Blue Apron, commented:

We’re pleased to share that all Blue Apron customers now have access to our expanded product offering and that the transition of volume to our new Linden, New Jersey fulfillment center is complete. We are now focused on optimizing our operations so that we can drive progress on our product roadmap in order to further our mission to make incredible home cooking accessible to everyone.

Shares of Blue Apron closed Wednesday at $4.67, with a consensus analyst price target of $6.71 and a 52-week range of $4.61 to $11.00. Following the announcement, the stock was up nearly 5% at $4.89 in early trading indications Thursday.

[wallst_email_signup]

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.