Variable margin was a challenge at the beginning of the quarter but rebounded in the month of March. Total net revenue grew 10% over the fourth quarter of 2021 to $118 million, and we saw continued strength in our key customer engagement metrics including, Average Order Value, Average Revenue per Customer and Orders per Customer. Randy Greben, Blue Apron’s Chief Financial Officer, commented, “We continued to build on the momentum generated in 4Q21 to propel our first-quarter performance, including material investments in marketing and our people while navigating a challenging inflationary environment. We look forward to providing more information on this and many other parts of the business at our inaugural investor day tomorrow, May 10, 2022.” We are now focused on implementing systematic reductions to achieve our longer-term goal of achieving Net Zero. We also successfully met our commitment to become carbon neutral by March 31, 2022, offsetting, through the purchase of carbon offsets, our estimated Scope 1, Scope 2 and Scope 3 emissions. Targeted marketing investments aimed at improving brand awareness and reach, along with our innovative menu, strong product offering, and seasonality, drove a 9.2% quarter-over-quarter increase in customers, and we expect to continue to grow customers in the second quarter.”įindley added, “We continue to expand our product and menu selection, recently launching a new breakfast offering while adding new four-serving menu options and Add-ons to meet evolving customer preferences. We continue to make progress on the foundational work we started back in 2019, and then accelerated in the fourth quarter of last year as we look to scale the business and drive customer growth. Linda Findley, Blue Apron’s President and Chief Executive Officer, commented, “The first quarter was another period of strong execution for the Blue Apron team. The company will host its inaugural investor day on May 10, 2022, at its fulfillment center in Linden, New Jersey The company achieved carbon neutrality as of March 31, 2022, through the purchase and retirement of carbon offsetsįollowing the end of 1Q22, the company announced a $70.5 million capital infusion through debt and equity financings extending debt maturity through 2027
Key customer engagement metrics performed at elevated levels for the eighth quarter in a rowĪs planned, marketing expenses rose 40% year-over-year to $28 million as the company continues to drive growth in FY2022
Net revenue increased 16% from the pre-pandemic first quarter of 2020 (1Q20) (1) to $118 million, and 10% from the fourth quarter of 2021 (4Q21), as the company gains traction on its growth strategy Post-Quarter Financings Strengthen Balance Sheetīlue Apron (NYSE: APRN) announced today financial results for the first quarter ended Ma(1Q22).
Customer Growth Accelerates Quarter over Quarter
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