APRN - Blue Apron EPS misses by $0.49 misses on revenue

Blue Apron (NYSE:APRN): Q3 GAAP EPS of -$1.17 misses by $0.49. Revenue of $109.7M (-2.3% Y/Y) misses by $10.7M. Shares -13.87% PM. Press Release Adjusted EBITDA was a loss of $11.7 million in the third quarter of 2021, compared to Adjusted EBITDA loss of $4.7 million in the third quarter of 2020. Guidance: The company expects to deliver net revenue growth for full year 2022 of at least in the mid-teens percentage range compared with full year 2021. The planned acceleration of the company’s growth strategy through increased marketing spend is designed to drive revenue and customer growth which, together with the increased spend to meet the announced ESG initiative goals and the increases in hourly wage rates, Blue Apron does not expect to achieve adjusted EBITDA profitability in 2022. , the company intends to accelerate its marketing investments in the fourth quarter of 2021 and plans to support these higher

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Blue Apron EPS misses by $0.49, misses on revenue