Blue Apron reports Q2 EPS ($9.52) vs. ($8.22) last year

Reports Q2 revenue $106.23M vs. $124.24M last year. Linda Findley, Blue Apron’s President and CEO, commented, “We are confident we have sufficient capital from operations to achieve our adjusted EBITDA profitability goal and to continue to move the business forward following the FreshRealm transaction. While the outsized net loss for the quarter was due to the one-time, non-cash charge associated with the transfer of our operational infrastructure, it does not account for the full financial incentives from FreshRealm and planned cost savings. We see this transaction as financially beneficial for the Company starting in 2024 with a lower fixed cost base, a stronger balance sheet and new revenue opportunities, including the introduction of a new product line expected in the first half of next year.”