Blue Apron Holdings, Inc. released quarterly and annual financial results, showing net revenue gains and improvements in average order value for another period as consumers spent more time cooking and eating at home .
For the year, the company increased its net revenue by 2% over 2020, from $460.6 million to $470.4 million. Adjusted EBITDA for 2021 was a loss of $39.2 million, a decline the company attributed to its fourth-quarter investments in growth strategies.
It was indeed a busy fourth quarter for Blue Apron as it completed a $78 million capital raise that will help it aggressively pursue the next steps in its evolution as a meal solutions provider through an accelerated marketing strategy and other efforts such as expanded menu choices. , brand partnerships and ordering flexibility. Although net revenue declined in the fourth quarter of 2021 compared to the fourth quarter of 2020, the average order value during this period increased to $63.78, the highest level since Blue Apron began trading. track the metric in 2015. Stacked against the pre-pandemic year of 2019, fourth quarter net sales increased 13%.
In addition to providing financial metrics, Blue Apron shared progress towards some of its environmental, social and governance (ESG) goals. Among these initiatives: an increase in the starting salary to $18 per hour and progress towards the goal of being carbon neutral by March 31, 2022.
For 2022, the company said it expects revenue to grow to “at least the teen percentage range” in 2021 as the organization rolls out more marketing and promotional programs. . “Overall, we believe 2022 will be a transformative year for Blue Apron, and we believe the actions and investments we are making now place us in a strong position to get back on a long-term growth path. long-term and sustainable,” said Linda Findley, President and CEO.