Meal kit leader Blue Apron Holdings Inc. reported a 13 percent net revenue decrease in the fourth quarter of 2017.
New York-based Blue Apron recorded $188 million in revenue in the quarter. The decline was driven mainly by a decrease in customers and orders as the company scaled back its marketing efforts during the quarter, according to company officials.
The number of Blue Apron orders fell from 3.67 million in the fourth quarter of 2016 to 3.2 million in the fourth quarter of 2017. The number of customers dropped from 879,000 to 746,000 and the average order value from $58.78 to $57.99.
“Our top priority remains continuing to drive operational efficiencies that will propel significant improvement in our net loss and adjusted EBITDA in 2018,” says Brad Dickerson, Blue Apron’s CEO. “We also believe there are extensive opportunities to diversify and evolve the business in new ways to expand our reach and deepen our engagement with customers and we are sharpening our focus on these windows of opportunity.”