APRN - Blue Apron eyes adjusted EBITDA profitability in Q2 next year

Blue Apron ( NYSE: APRN ) said Wednesday that with the closing of its FreshRealm transaction earlier this month, the online mealkit company now expects to achieve adjusted EBITDA profitability in the second quarter of next year.

"We believe the closing of the transaction with FreshRealm and the payoff of our debt opened up a clearer path to long-term Adjusted EBITDA profitability. In parallel, with the shift to an asset-light model, we continue to reduce year-over-year cash burn, as disclosed on our first quarter earnings call, and we expect to continue to see year-over-year reduced cash burn following the closing of the FreshRealm transaction," the company said in a statement.

Press Release .