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Active Mover: Blue Apron Holdings (NYSE: APRN)

Ruby Warren

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On Monday, Shares of Blue Apron Holdings (NYSE: APRN) showed no change to its price and ended its trading session at $3.20. The company traded total volume of 1,883,319 shares as contrast to its average volume of 4.10M shares. The company has a market value of $623.30M and about 194.78M shares outstanding.

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Blue Apron Holdings, Inc. (APRN) declared recently financial results for the quarter ended March 31, 2018.

First Quarter 2018 Financial Results:

  • Net revenue reduced 20% year-over-year to $196.70M in the first quarter of 2018 contrast to the first quarter of 2017, driven mainly by a decrease in Customers and Orders following the deliberate pull back in marketing spend in the second half of 2017, as Blue Apron builds toward momentum in the business in 2018. Net revenue increased 5% quarter-over-quarter reflecting Blue Apron’s methodical reacceleration of its marketing efforts and advanced product merchandising capabilities in the first quarter of 2018.
  • Marketing expense was $39.30M, or 20.0% as a percentage of net revenue, in the first quarter of 2018, contrast to $60.60M, or 24.8% as a percentage of net revenue, in the first quarter of 2017. Blue Apron methodically reaccelerated marketing efforts in the first quarter of 2018 with a focus on building efficient and sustainable growth.
  • Product, technology, general, and administrative (PTGA) costs reduced 22% year-over-year from $63.20M in the first quarter of 2017 to $49.50M in the first quarter of 2018 mainly because of continued focus on expense management.
  • Net loss was $(31.70)M and diluted loss per share was $(0.17) in the first quarter of 2018 based on 191.50M weighted average common shares outstanding, contrast to net loss of $(52.20)M and diluted loss per share of $(0.78) in the first quarter of 2017 based on 67.10M weighted average common shares outstanding. Sequentially, net loss improved $7.50M quarter-over-quarter from a net loss of $(39.10)M in the fourth quarter of 2017.
  • Adjusted EBITDA was a loss of $(17.20)M in the first quarter 2018, contrast to a loss of $(46.30)M in the first quarter of 2017 reflecting improved expense management and operational efficiencies. Sequentially, adjusted EBITDA improved $2.50M quarter-over-quarter from a loss of $(19.70)M in the fourth quarter of 2017.

Liquidity and Capital Resources:

  • Cash and cash equivalents was $203.50M as of March 31, 2018.
  • Capital expenditures, counting amounts in accounts payable, totaled $4.80M for the first quarter of 2018, mostly from investments in automation equipment as Blue Apron continued to strategically invest to further drive operational improvements. This represents a reduction in capital expenditures from prior year levels following the substantial completion of the Linden fulfillment center

The Company offered net profit margin of -22.80% while its gross profit margin was 29.30%. ROE was recorded as -155.60%. The stock, as of recent close, has shown the weekly downbeat performance of -5.33% which was maintained at -20.60% in this year.

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I am Ruby Warren and I give “IRN Post” an insight into the most recent news hitting the “Services” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

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