![]() This reduces our liquidity covenant and we believe it can give us more flexibility as we continue to evaluate and potentially execute other financing opportunities, a business combination or other strategic transactions. “We also amended our debt agreement to fully pay down our debt on an accelerated schedule. In parallel, looking at the same time period, planned expense reductions announced in the fourth quarter of 2022 have already reduced our cash burn by more than 50% year-over-year.” “As of the end of February, in comparison to last quarter, we cut our Cost Per Acquisition by about half and are seeing conversion improvements of more than 25%. These actions are already resulting in a positive impact in 2023.” We adjusted late last year by adding new talent to our leadership and dramatically reducing costs. At times, we were not as nimble as we needed to be, but 2022 is not indicative of what we are seeing so far in 2023. Our team was tasked with managing through macroeconomic headwinds, continued inflation, funding delays and higher marketing costs as we simultaneously looked for the best pathways to preserve capital. “2022 was a challenging year for our business. And the revenue for the quarter was $107 million compared to a consensus of $100.96 million. Q4 results: Blue Apron reported a Q4 EPS of ($0.49), which was $0.22 higher than a consensus of ($0.71). As you can imagine, it costs more than your normal home-cooked meal. Blue Apron is largely accepted to be the granddad of meal kit delivery programs in the US and the brand still manages to deliver excellent meals with easy-to-follow recipes all at a fair. ![]() From time to time youll see Premium items on the menu, which cost more. The more servings you get per shipment, the lower the price. The subscription service sends you the measured ingredients to make gourmet meals at home. Blue Apron costs between 7.49 and 9.99 per serving. ![]() The stock price of Blue Apron (NYSE: APRN) increased by over 15% this past week. For those of you who haven’t heard of Blue Apron, it’s a meal delivery service similar to Plated or Hello Fresh. The stock price of Blue Apron (NYSE: APRN) increased by over 15% this past week. Blue Apron, founded in 2012, is a fresh home meal delivery kit subscription service that delivers pre-portioned ingredients to customers across the United States. APRN Stock: Over 15% Increase Explanation
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