The company currently trades on a $35.62 million market cap against revenue for its last reported fiscal 2022 third quarter which came in at $109.7 million, flat from the year-ago comp but still a small miss of around $240,000 on consensus estimates. Hence, Blue Apron could be thought of as an augmentation of the existing weekly food plans of their customers. A serving for two delivered twice a week currently comes with a $57.95 per month plan. Blue Apron, and meal-kit food platforms more broadly, essentially marry a restaurant and food market to offer variety to otherwise static diets.Ĭustomers get to try new meals they'd probably have never considered with easy-to-follow instructions and with all the ingredients delivered fresh to their doorstep. On the menu for the week ahead are Sweet & Spicy Shrimp, Oven-Baked Turkey Bolognese, and Couscous-Stuffed Poblano Peppers. Blue Apron delivers fresh meal kits to its customers who sign up via different tiered monthly plans that correspond with the number of servings and meals per week that they'd like. Whilst any such move has been lessened by the positive 26% year-to-date increase of its shares, the New York-based company continues to face a broadly uncertain future with the demand for its meal kits flatlined, underlying profitability metrics negative, and its average diluted shares outstanding in an insatiable upward trend. The meal-kit service company potentially stares down a similar action with shares yet again now trading just below the minimum listing floor. Blue Apron ( NYSE: APRN) had to engineer a 1-for-15 reverse stock split a few years ago after its commons had fallen below the NYSE $1 minimum listing requirement.
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