Key Highlights:
- Second quarter 2021 net revenue of $124.0 million was in-line
with the company’s guidance.(1)
- 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. Excluding this
charge, net loss outperformed the company’s guidance. (1)
- Second quarter 2021 Adjusted EBITDA loss of $3.5 million
exceeded the company’s guidance. (1)
- Key customer metrics continue to reflect the benefit of the
company’s growth strategy, including the third consecutive
quarterly record for Average Order Value.
- 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.
- The company had $18.6 million of cash net of debt as of June
30, 2021.
- Continued 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.
(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.
Blue Apron Holdings, Inc. (NYSE: APRN) announced today financial
results for the quarter ended June 30, 2021.
“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. This has
allowed us to continue to attract and retain high-value customers,”
said Linda Findley Kozlowski, Blue Apron’s President and Chief
Executive Officer. “This was another quarter of strong performance
for all our key customer metrics, particularly when considering the
return of seasonality impacts. Our Average Order Value, Orders per
Customer and Average Revenue per Customer continued to be at record
or near-record quarterly levels in the second quarter even as
consumers increasingly resumed activities they enjoyed
pre-pandemic. The continued strength of Blue Apron’s key customer
metrics demonstrates the benefits from our consistent expansion of
the differentiated, high-quality products we offer. By providing
more items at different price points for our customers to choose
from, we are also driving strong Average Revenue per Customer
growth, which again reached at least $330 in the second quarter,
marking an approximate 25%, or $65, increase over the second
quarter of 2019.”
Key Customer Metrics
Improvements in key customer metrics in the chart below reflect
the company’s product initiatives, and targeted marketing
investments as well as, to some degree, the benefit of changes in
consumer behavior related to the pandemic in the second quarter of
2020, the impact of the onion recall recovery and other operating
trends and seasonality.
Three Months Ended,
June 30,
March 31,
June 30,
2021
2021
2020
Orders (in thousands)
1,977
2,104
2,152
Customers (in thousands)
375
391
396
Average Order Value
$62.72
$61.63
$60.88
Orders per Customer
5.3
5.4
5.4
Average Revenue per Customer
$330
$331
$331
For a description of how Blue Apron defines and uses these key
customer metrics, please see “Use of Key Customer Metrics”
below.
Kozlowski continued, “We expanded our product offerings in the
second quarter, including Butcher Bundles, Add-ons and Craft
Burger, all of which are deepening Blue Apron’s connections with
our customers as reflected in the significant contribution these
and other new menu options made to our record levels of Average
Order Value. We expect further improvements in this metric going
forward. We also remain committed to enhancing the effectiveness of
our marketing initiatives to drive profitable customer engagement
and retention. Our product expansions, combined with our marketing
initiatives, are also driving Average Order Value growth. This is
reflected with each of our 2020, 2019 and 2018 customer groups
Average Order Value levels trending higher in the first half of
2021 compared to their respective initial levels. Our product
innovation, attraction and retention of high-value customers, and
the strengthening of our balance sheet are fundamental to Blue
Apron achieving consistent growth and we continue to believe we are
on schedule to report positive full-year Adjusted EBITDA, on a
sustainable basis, beginning next year.”
Second Quarter 2021 Financial Results
- Net revenue in the second quarter of 2021 decreased 5% year
over year to $124.0 million as the year-ago quarter reflected the
most significant demand from the pandemic. Net revenue in the
second quarter of 2021 was positively impacted by the recognition
of the recovery of approximately $2.0 million related to customer
credits issued in the third quarter of 2020 as a result of a
voluntary recall of onions supplied to the company.
- Cost of goods sold, excluding depreciation and amortization
(COGS), as a percentage of net revenue, increased 320 basis points
year over year from 59.4% to 62.6% largely driven by an increase in
food and shipping costs due to price increases, the increased use
of premium ingredients related to enhanced product offerings to
provide product variety and additional choice for customers, as
well as fuel surcharges, partially offset by a decrease in labor
costs as attendance bonuses that were put in place last year in
response to the pandemic did not repeat in the second quarter of
2021.
- Marketing expenses were $16.3 million, or 13.2% of net revenue,
in the second quarter of 2021, compared to $11.6 million, or 8.8%
of net revenue, in the second quarter of 2020, as marketing
investments returned to more normal levels following the pullback
last year to help manage fulfillment center capacity during the
peak of the pandemic.
- Product, technology, general and administrative (PTG&A)
costs increased 13% year over year from $32.5 million in the second
quarter of 2020 to $36.8 million in the second quarter of 2021
primarily reflecting increased professional fees and investments
made to support the company’s growth plan and execution on key
business initiatives. As a percentage of net revenue, PTG&A
increased 490 basis points year over year from 24.8% to 29.7%.
- Gain (loss) on extinguishment of debt was a non-cash loss of
$4.1 million in the second quarter of 2021 as a result of the
amendment of the company’s financing agreement in May 2021 which
was deemed to be an extinguishment of the existing debt for
accounting purposes.
- Other income (expense), net was approximately $0.5 million as a
result of a non-cash fair value adjustment resulting from the
company’s obligation under the May 2021 amendment to the company’s
financing agreement amendment to issue warrants to its lenders on a
quarterly basis, beginning on July 1, 2021, so long as the debt
remains outstanding.
- Net loss was $18.6 million, and diluted loss per share was
$0.98, in the second quarter of 2021 based on 18.9 million
weighted-average common shares outstanding, compared to net income
of $1.1 million, and diluted earnings per share of $0.08, in the
second quarter of 2020 based on 14.0 million weighted-average
common shares outstanding.
- Adjusted EBITDA was negative $3.5 million in the second quarter
of 2021, compared to Adjusted EBITDA of $11.1 million in the second
quarter of 2020.
Liquidity and Capital Resources
- Cash and cash equivalents were $51.0 million as of June 30,
2021.
- Cash generated from operating activities totaled $1.1 million
for the second quarter of 2021 compared to cash generated of $15.7
million in the second quarter of the prior-year period reflecting
improved working capital management, partially offset by increased
net loss. Capital expenditures totaled $1.3 million for the second
quarter of 2021, consistent with the second quarter of 2020.
- Free cash flow was $(0.2) million for the second quarter of
2021 compared to $14.4 million in the second quarter of the
prior-year period driven mainly by lower operating cash flow.
- In May 2021, the company amended the financing agreement dated
as of October 16, 2020 (the “2020 Term Loan”), which modified
certain provisions of the agreement, as well as provided a $5.0
million term loan (the “2021 Term Loan”). The proceeds of the 2021
Term Loan were held in an escrow account until June 2021 as
described below.
- The company completed an underwritten public offering in June
2021 of 5,411,900 shares of its Class A common stock, resulting in
$21.1 million of proceeds, net of underwriting discounts and
commissions and offering costs, which will be used for general
corporate purposes. The net proceeds from the June 2021 offering
were subject to the mandatory prepayment provisions of the 2021
Term Loan, resulting in the release of the 2021 Term Loan to the
lenders in full from escrow.
Corporate Governance and Social Responsibility
Blue Apron implemented corporate governance and social
responsibility enhancements in the second quarter of 2021. In June
2021:
- Blue Apron’s stockholders approved the declassification of the
board of directors from its current three classes into a single
class over the next three years; and
- The board of directors approved an amendment to the company’s
amended and restated bylaws to adopt a majority, rather than
plurality, voting standard for the election of directors.
In the second quarter, Blue Apron introduced its corporate and
social responsibility initiative, Aprons for All, to help advance
food equity. As part of the program, Blue Apron announced:
- New sustainable packaging goals for its meal-kit boxes of 100%
recyclable, reusable or compostable and 75% post-consumer recycled
content, by weight, by the end of 2025; and
- A collaboration with Partnership for a Healthier America (PHA),
in support of Pass the Love with Waffles + Mochi, a recent campaign
designed to spread the joy of food and cooking to families across
the country.
2021 Full Year Outlook
Blue Apron today provided an outlook for certain financial
metrics, reflecting certain assumptions regarding the business,
including the execution of the company’s strategic growth
initiatives, planned investment increases in marketing initiatives,
and ongoing operational improvements. The following guidance also
assumes that the company will not experience any unforeseen
significant disruptions in its fulfillment operations or supply
chain.
Blue Apron continues to expect to generate high single-digit to
low double-digit net revenue growth for the full year 2021 compared
to 2020, with the expectation that the second half of 2021 will
reflect growth over the second half of 2020. The company also
continues to expect that it will generate positive annual adjusted
EBITDA beginning with full year 2022.
Conference Call and Webcast
Blue Apron will hold a conference call and webcast today at 8:30
a.m. Eastern Time to discuss its second quarter 2021 results and
business outlook. The conference call can be accessed by dialing
(877) 883-0383 or (412) 902-6506; the conference ID is 2305652.
Alternatively, participants may access the live webcast on Blue
Apron’s Investor Relations website at investors.blueapron.com.
A recording of the webcast will also be available on Blue
Apron’s Investor Relations website at investors.blueapron.com
following the conference call. Additionally, a replay of the
conference call can be accessed until Tuesday, August 10, 2021 by
dialing (877) 344-7529 or (412) 317-0088, utilizing the replay
access code 10158146.
About Blue Apron
Blue Apron’s vision is “better living through better food.”
Launched in 2012, Blue Apron offers fresh, chef-designed recipes
that empower home cooks to embrace their culinary curiosity and
challenge their abilities to see what a difference cooking quality
food can make in their lives. Through its mission to spark
discovery, connection and joy through cooking, Blue Apron
continuously focuses on bringing incredible recipes to its
customers, while minimizing its carbon footprint, reducing food
waste, and promoting diversity and inclusion.
Forward-Looking Statements
This press release includes statements concerning Blue Apron
Holdings, Inc. and its future expectations, plans and prospects
that constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. For this
purpose, any statements contained herein that are not statements of
historical fact may be deemed to be forward-looking statements. In
some cases, you can identify forward-looking statements by terms
such as "may," "should," "expects," "plans," “forecasts,”
"anticipates," "could," "intends," "target," "projects,"
"contemplates," "believes," "estimates," "predicts," "potential,"
or "continue," or the negative of these terms or other similar
expressions. Blue Apron has based these forward-looking statements
largely on its current expectations and projections about future
events and financial trends that it believes may affect its
business, financial condition and results of operations. These
forward-looking statements speak only as of the date of this press
release and are subject to a number of risks, uncertainties and
assumptions including, without limitation, the company’s ability,
including the timing and extent, to sufficiently manage costs and
to fund investments in its operations from cash from operations and
additional equity and/or debt financings in amounts necessary to
maintain compliance with financial and other covenants under its
indebtedness while continuing to support the execution of its
growth strategy; the company achieving its expectations regarding
expenses and net revenue and its ability to grow adjusted EBITDA
and to achieve or maintain profitability; its ability, including
the timing and extent, to successfully execute its growth strategy,
cost-effectively attract new customers and retain existing
customers, including its ability to sustain any increase in demand
resulting from both its growth strategy and the COVID-19
(coronavirus) pandemic, and its ability to continue to expand its
direct-to-consumer product offerings, and to continue to benefit
from the implementation of operational efficiency practices;
changes in consumer behaviors that could lead to declines in
demand, including as the COVID-19 pandemic’s impact on consumer
behavior tapers; the company’s ability to attract and retain
qualified employees and key personnel in sufficient numbers; the
company’s ability to effectively compete; its ability to maintain
and grow the value of its brand and reputation; any material and
adverse impact of the COVID-19 pandemic on the company’s operations
and results, including as a result of inability to meet demand due
to insufficient labor, whether as a result of heightened
absenteeism or challenges in recruiting and retention or otherwise,
prolonged closures, or series of temporary closures, of one or more
fulfillment centers, or supply chain or carrier interruptions or
delays; its expectations regarding, and the stability of, its
supply chain, including potential shortages or interruptions in the
supply or delivery of ingredients, as a result of COVID-19 or
otherwise; its ability to maintain food safety and prevent
food-borne illness incidents and its susceptibility to
supplier-initiated recalls; its ability to accommodate general
changes in consumer tastes and preferences or in consumer spending,
including as a result of inflation, the COVID-19 pandemic’s impact
on economic conditions or otherwise; its ability to comply with
modified or new laws and regulations applying to its business;
risks resulting from its vulnerability to adverse weather
conditions, natural disasters and public health crises, including
pandemics; its ability to obtain and maintain intellectual property
protection; and other risks more fully described in the company’s
Annual Report on Form 10-K for the year ended December 31, 2020
filed with the SEC on February 23, 2021, the company’s Quarterly
Report on Form 10-Q for the quarter ended March 31, 2021 filed with
the SEC on May 6, 2021, the company’s Quarterly Report on Form 10-Q
for the quarter ended June 30, 2021 to be filed with the SEC, and
in other filings that the company may make with the SEC in the
future. The company assumes no obligation to update any
forward-looking statements contained in this press release as a
result of new information, future events or otherwise.
Use of Non-GAAP Financial Information
This press release includes non-GAAP financial measures,
adjusted EBITDA and free cash flow, that are not prepared in
accordance with, nor an alternative to, financial measures prepared
in accordance with U.S. generally accepted accounting principles
(“GAAP”). In addition, these non-GAAP financial measures are not
based on any standardized methodology prescribed by GAAP and are
not necessarily comparable to similarly-titled measures presented
by other companies.
The company defines adjusted EBITDA as net earnings (loss)
before interest income (expense), net, other operating expense,
gain (loss) on extinguishment of debt, other income (expense) net,
benefit (provision) for income taxes and depreciation and
amortization, adjusted to eliminate share-based compensation
expense. The company presents adjusted EBITDA because it is a key
measure used by the company’s management and board of directors to
understand and evaluate the company’s operating performance,
generate future operating plans and make strategic decisions
regarding the allocation of capital. In particular, the company
believes that the exclusion of certain items in calculating
adjusted EBITDA can produce a useful measure for period-to-period
comparisons of the company’s business. Further, Blue Apron uses
adjusted EBITDA to evaluate its operating performance and trends
and make planning decisions, and it believes that adjusted EBITDA
helps identify underlying trends in its business that could
otherwise be masked by the effect of the items that the company
excludes. Accordingly, Blue Apron believes that adjusted EBITDA
provides useful information to investors and others in
understanding and evaluating its operating results, enhancing the
overall understanding of the company’s past performance and future
prospects, and allowing for greater transparency with respect to
key financial metrics used by its management in its financial and
operational decision-making.
There are a number of limitations related to the use of adjusted
EBITDA rather than net income (loss), which is the most directly
comparable GAAP equivalent. Some of these limitations are:
- adjusted EBITDA excludes share-based compensation expense, as
share-based compensation expense has recently been, and will
continue to be for the foreseeable future, a significant recurring
expense for the company’s business and an important part of its
compensation strategy;
- adjusted EBITDA excludes depreciation and amortization expense
and, although these are non-cash expenses, the assets being
depreciated may have to be replaced in the future;
- adjusted EBITDA excludes other operating expense, as other
operating expense represents non-cash impairment charges on
long-lived assets, a non-cash gain, net of termination fee, on
lease termination, and restructuring costs;
- adjusted EBITDA excludes loss on extinguishment of debt as this
represents a non-cash charge;
- adjusted EBITDA does not reflect other (income) expense net, as
this represents changes in the fair value of the
liability-classified warrant obligation as of each reporting
period;
- adjusted EBITDA does not reflect interest expense, or the cash
requirements necessary to service interest, which reduces cash
available to us;
- adjusted EBITDA does not reflect income tax payments that
reduce cash available to us; and
- other companies, including companies in the company’s industry,
may calculate adjusted EBITDA differently, which reduces its
usefulness as a comparative measure.
The company defines free cash flow as net cash from (used in)
operating activities less purchases of property and equipment. The
company presents free cash flow because it is used by the company’s
management and board of directors as an indicator of the amount of
cash the company generates or uses and to evaluate the company’s
ability to satisfy current and future obligations and to fund
future business opportunities. Accordingly, Blue Apron believes
that free cash flow provides useful information to investors and
others in understanding and evaluating its operating results,
enhancing the overall understanding of the company’s ability to
satisfy its financial obligations and pursue business
opportunities, and allowing for greater transparency with respect
to a key financial metric used by its management in its financial
and operational decision making.
There are a number of limitations related to the use of free
cash flow rather than net cash from (used in) operating activities,
which is the most directly comparable GAAP equivalent. Some of
these limitations are:
- free cash flow is not a measure of cash available for
discretionary expenditures since the company has certain
non-discretionary obligations such as debt repayments or capital
lease obligations that are not deducted from the measure; and
- other companies, including companies in the company’s industry,
may calculate free cash flow differently, which reduces its
usefulness as a comparative measure.
Because of these limitations, adjusted EBITDA and free cash flow
should be considered together with other financial information
presented in accordance with GAAP. A reconciliation of these
non-GAAP financial measures to the most directly comparable
measures calculated in accordance with GAAP is set forth below
under the heading “Reconciliation of Non-GAAP Financial
Measures”.
Use of Key Customer Metrics
This press release includes various key customer metrics that we
use to evaluate our business and operations, measure our
performance, identify trends affecting our business, project our
future performance, and make strategic decisions. You should read
these metrics in conjunction with our financial statements. We
define and determine our key customer metrics as follows:
Orders
We define Orders as the number of paid orders by our Customers
across our meal, wine and market products sold on our e-commerce
platforms in any reporting period, inclusive of orders that may
have eventually been refunded or credited to customers.
Customers
We determine our number of Customers by counting the total
number of individual customers who have paid for at least one Order
from Blue Apron across our meal, wine or market products sold on
our e-commerce platforms in a given reporting period.
Average Order Value
We define Average Order Value as our net revenue from our meal,
wine and market products sold on our e-commerce platforms in a
given reporting period divided by the number of Orders in that
period.
Orders per Customer
We define Orders per Customer as the number of Orders in a given
reporting period divided by the number of Customers in that
period.
Average Revenue per Customer
We define Average Revenue per Customer as our net revenue from
our meal, wine and market products sold on our e-commerce platforms
in a given reporting period divided by the number of Customers in
that period.
BLUE APRON HOLDINGS, INC. Condensed
Consolidated Balance Sheets (In thousands)
(Unaudited)
June 30,
December 31,
2021
2020
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$
50,990
$
44,122
Accounts receivable, net
107
116
Inventories, net
22,449
18,185
Prepaid expenses and other current
assets
15,030
23,651
Total current assets
88,576
86,074
Property and equipment, net
116,961
125,208
Other noncurrent assets
1,792
4,053
TOTAL ASSETS
$
207,329
$
215,335
LIABILITIES AND STOCKHOLDERS’
EQUITY
CURRENT LIABILITIES:
Accounts payable
$
39,959
$
23,691
Accrued expenses and other current
liabilities
25,693
41,632
Current portion of long-term debt
3,500
3,500
Deferred revenue
5,957
6,269
Total current liabilities
75,109
75,092
Long-term debt
27,078
28,747
Facility financing obligation
35,930
35,957
Other noncurrent liabilities
12,735
11,564
TOTAL LIABILITIES
150,852
151,360
TOTAL STOCKHOLDERS’ EQUITY
56,477
63,975
TOTAL LIABILITIES AND STOCKHOLDERS’
EQUITY
$
207,329
$
215,335
BLUE APRON HOLDINGS, INC. Condensed
Consolidated Statement of Operations (In thousands, except
share and per-share data) (Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2021
2020
2021
2020
Net revenue
$
124,010
$
131,040
$
253,716
$
232,897
Operating expenses:
Cost of goods sold, excluding depreciation
and amortization
77,585
77,868
159,177
138,506
Marketing
16,316
11,561
36,256
26,593
Product, technology, general, and
administrative
36,802
32,493
73,353
66,710
Depreciation and amortization
5,612
6,175
11,232
12,928
Other operating expense
—
269
—
3,467
Total operating expenses
136,315
128,366
280,018
248,204
Income (loss) from operations
(12,305)
2,674
(26,302)
(15,307)
Gain (loss) on extinguishment of debt
(4,089)
—
(4,089)
—
Interest income (expense), net
(2,731)
(1,541)
(4,439)
(3,696)
Other income (expense), net
548
—
548
—
Income (loss) before income taxes
(18,577)
1,133
(34,282)
(19,003)
Benefit (provision) for income taxes
(10)
(19)
(26)
(28)
Net income (loss)
$
(18,587)
$
1,114
$
(34,308)
$
(19,031)
Net income (loss) per share – basic
$
(0.98)
$
0.08
$
(1.86)
$
(1.42)
Net income (loss) per share – diluted
$
(0.98)
$
0.08
$
(1.86)
$
(1.42)
Weighted average shares outstanding –
basic
18,876,600
13,432,872
18,410,729
13,369,338
Weighted average shares outstanding –
diluted
18,876,600
13,999,755
18,410,729
13,369,338
BLUE APRON HOLDINGS, INC. Condensed
Consolidated Statement of Cash Flows (In thousands)
(Unaudited)
Six Months Ended
June 30,
2021
2020
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income (loss)
$
(34,308)
$
(19,031)
Adjustments to reconcile net income (loss)
to net cash from (used in) operating activities:
Depreciation and amortization of property
and equipment
11,232
12,928
Loss (gain) on build-to-suit accounting
derecognition
—
(4,936)
Loss on impairment
—
7,603
Loss on extinguishment of debt
4,089
—
Change in fair value of warrant
obligation
(548)
—
Changes in reserves and allowances
132
(493)
Share-based compensation
5,465
4,249
Non-cash interest expense
807
364
Changes in operating assets and
liabilities
2,253
2,385
Net cash from (used in) operating
activities
(10,878)
3,069
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchases of property and equipment
(3,009)
(2,840)
Proceeds from sale of property and
equipment
1,302
113
Net cash from (used in) investing
activities
(1,707)
(2,727)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Proceeds from issuance of common stock,
net of offering costs
21,144
—
Receipt of funds held in escrow
5,000
—
Release of funds held in escrow
(5,000)
—
Repayments of debt
(1,750)
—
Payments of debt issuance costs
(145)
—
Proceeds from exercise of stock
options
—
483
Principal payments on capital lease
obligations
(77)
(117)
Net cash from (used in) financing
activities
19,172
366
NET INCREASE (DECREASE) IN CASH, CASH
EQUIVALENTS, AND RESTRICTED CASH
6,587
708
CASH, CASH EQUIVALENTS, AND RESTRICTED
CASH — Beginning of period
45,842
46,443
CASH, CASH EQUIVALENTS, AND RESTRICTED
CASH — End of period
$
52,429
$
47,151
BLUE APRON HOLDINGS, INC.
Reconciliation of Non-GAAP Financial Measures (In
thousands) (Unaudited)
Three Months Ended
June 30,
March 31,
June 30,
2021
2021
2020
Reconciliation of net income (loss) to
adjusted EBITDA
Net income (loss)
$
(18,587)
$
(15,721)
$
1,114
Share-based compensation
3,146
2,319
2,009
Depreciation and amortization
5,612
5,620
6,175
Other operating expense
—
—
269
Gain (loss) on extinguishment of debt
4,089
—
—
Interest (income) expense, net
2,731
1,708
1,541
Other (income) expense, net
(548)
—
—
Provision (benefit) for income taxes
10
16
19
Adjusted EBITDA
$
(3,547)
$
(6,058)
$
11,127
Three Months Ended
Six Months Ended
June 30,
June 30,
2021
2020
2021
2020
Reconciliation of net cash from (used
in) operating activities to free cash flow
Net cash from (used in) operating
activities
$
1,073
$
15,673
$
(10,878)
$
3,069
Purchases of property and equipment
(1,263)
(1,229)
(3,009)
(2,840)
Free cash flow
$
(190)
$
14,444
$
(13,887)
$
229
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210803005421/en/
Media Muriel Lussier Blue Apron
muriel.lussier@blueapron.com
Investors investor.relations@blueapron.com Joseph
Jaffoni, Richard Land, James Leahy JCIR aprn@jcir.com or
212-835-8500
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