“Blue Apron’s solid second quarter results reflect, in part, the benefits of the product roadmap focused on adding variety, flexibility and choice we established two years ago. (NYSE: APRN) announced today financial results for the quarter ended June 30, 2021. (1) Second quarter 2021 net revenue, net loss and Adjusted EBITDA reflect the benefit from the recognition of an approximately $2.0 million recovery of customer credits issued in the third quarter of 2020 related to a voluntary recall of onions supplied to the company.īlue Apron Holdings, Inc. The company had $18.6 million of cash net of debt as of June 30, 2021.Ĭontinued advancement of product roadmap, including the launch of Butcher Bundles, Add-ons and Craft Burger, increasing the number of menu options from 30 in March 2021 to 43 in July 2021. Strengthened balance sheet and improved financial flexibility with $51.0 million of cash and cash equivalents at quarter-end inclusive of approximately $21.1 million in net proceeds from the June underwritten public equity offering.

Key customer metrics continue to reflect the benefit of the company’s growth strategy, including the third consecutive quarterly record for Average Order Value. Second quarter 2021 Adjusted EBITDA loss of $3.5 million exceeded the company’s guidance.

Excluding this charge, net loss outperformed the company’s guidance. Second quarter 2021 net loss was $18.6 million, inclusive of a non-cash charge of approximately $4.1 million, related to the May 2021 amendment to the company’s financing agreement. Second quarter 2021 net revenue of $124.0 million was in-line with the company’s guidance.

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