APRN - Blue Apron announces long-term targets

Blue Apron (NYSE:APRN) at its investor day on Tuesday said it targets more than 2% growth in adj. EBITDA and positive operating cash flow in 2024. The firm is also targeting 500K customers in 2024. APRN aims to achieve long-term variable margin of ~40% and PTG&A of around 20% of revenue. "We see our path to 2024 - with set goals of having at least 500K customers, at least $700M in revenue, with adj. EBITDA margins of more than 2% and positive cash flow generation," said CFO Randy Greben. Over the next 3 years, APRN aims to drive customer growth and expand market share through marketing, partnerships and new products. APRN plans to optimize its tech and operational infrastructure to deliver a scalable platform. Outlook and targets assume that APRN will not experience any significant disruptions in its fulfillment operations or supply chain.

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Blue Apron announces long-term targets