For a discussion of the company’s performance compared to 2020, see “Fourth Quarter Financial Results” below. The company believes that the patterns and customer behaviors in the fourth quarter of 2021 reflect a higher correlation to more normalized periods, which were last seen in 2019 versus the pandemic-impacted periods of 2020. (1) The company believes that using the pre-pandemic fourth quarter of 2019 as a benchmark is an appropriate way to evaluate the company’s fourth quarter 2021 performance. The company continued to build upon its Environmental, Social and Governance (ESG) initiatives, including the increase of starting wages to $18 per hour.įull year 2022 net revenue is expected to increase to at least the mid-teens percentage range from 2021 as the significant marketing investments made in 4Q21 and 1Q22 start to bear fruit. Marketing expenses rose 68% year-over-year to $21 million as the company looks to drive growth in FY2022.Ĭash and cash equivalents were $82 million following completion of the equity capital raise in 4Q21. Orders per Customer increased 9% from 4Q19 to 5.0.Īverage Revenue per Customer increased 19% from 4Q19 to $319. Key customer engagement metrics performed well, reflecting continued traction of the company’s growth strategy.Īverage Order Value reached $63.78, up 10% from 4Q19 and the highest level since the company started tracking the metric in 2015. Net revenue increased 13% from the pre-pandemic fourth quarter of 2019 (4Q19) (1) to $107 million. (NYSE: APRN) announced today financial results for the fourth quarter (4Q21) and full year ended Decem(FY2021).įourth Quarter 2021 Highlights and Outlook Fourth Quarter Equity Capital Raise Provides Funding to Accelerate Growth Strategy in 2022īlue Apron Holdings, Inc.
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