Why Blue Apron (APRN) Shares Are Trading Higher Today

Blue Apron Holdings, Inc APRN reported a flattish second-quarter FY22 sales growth year-on-year to $124.2 million, missing the consensus of $125 million.
Orders fell 14% Y/Y, while the average order value rose 7% to $67.14.
The average revenue per customer was flattish Y/Y to $328. The number of customers fell by 6.9%.
EPS loss of $(0.68) missed the consensus loss of $(0.55).
Adjusted EBITDA loss widened to $(15.5) million from $(3.5) million last year.
The company held $54 million in cash and equivalents and used $18.3 million in operating activities.
Joseph N. Sanberg affiliate RJB Partners LLC agreed to raise investment in the company from $20 million to $50 million under a private placement.
Blue Apron looks to use the proceeds of the private placement to invest in its long-term growth plan, with $25.0 million for strategic purposes, including exploring share buybacks. Upon closing, Alex Chalunkal, Sanberg's Chief Investment Officer, will join the Blue Apron board.
Outlook: Blue Apron expects FY22 sales of $503.303 million - $531.526 million versus the consensus of $520.440 million.
Price Action: APRN shares traded higher by 17.1% at $3.49 on the last check Monday.

Blue Apron Misses Q2 Due To Lower Orders, Customers; RJB Lifts Investment