Blue Apron GAAP EPS of -$0.68 misses by $0.04, revenue of $124.24M misses by $0.77M

Aug. 08, 2022 6:34 AM ETBlue Apron Holdings, Inc. (APRN)By: Niloofer Shaikh, SA News Editor
  • Blue Apron press release (NYSE:APRN): Q2 GAAP EPS of -$0.68 misses by $0.04.
  • Revenue of $124.24M (+0.2% Y/Y) misses by $0.77M.
  • Shares +5% PM.
  • As a result of persistent inflationary pressures which are impacting consumer demand, the company believes it is prudent to adjust its 2022 revenue growth target to 7% to 13% compared with 2021, and focus on driving to profitability.
  • The company remains committed to its longer term targets, provided at its Investor Day in May 2022, of achieving adjusted EBITDA profitability in fiscal 2023 and positive operating cash flow in fiscal 2024.
  • The company continues to expect significantly lower cash utilization in the second half of 2022 compared with the first half of the year.

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