APRN - Blue Apron stock edges higher on positive outlook despite Q1 earnings miss

Blue Apron (NYSE:APRN) shares up despite Q1 results that missed the consensus mark on the hope to grow sequentially. Net revenue was up 16% vs. 1Q20 and 10% sequentially but declined 9% Y/Y. Average Order Value grew 2.2% Y/Y to $62.99, reflects continued advancements in product innovation and variety, as well as the pricing increase introduced in the second half of 2021. Orders per customer fell 5.6% and average revenue per customer decreased 3%. Adjusted EBITDA was a loss of $30.7M vs. loss of $6.1M year ago. Customers were up 15% sequentially to 321,000. As the company continues to invest to drive growth, marketing expenses expanded 40% Y/Y to $27.9M. For Q2, the company expects to grow customers sequentially, positive operating cash. For FY2022, the company expects net revenue growth to be in the mid-teens percentage range Y/Y vs. consensus growth of 13.16% and expects to return to positive Y/Y net revenue growth

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Blue Apron stock edges higher on positive outlook despite Q1 earnings miss