The last few stories we’ve done on Blue Apron here at The Spoon were basically preparing its coffin: Today’s earnings report is the first time in a while that we’ve written anything positive about Blue Apron. If you’re stuck at home for many months, may as well try out a meal kit shipped directly to your door. But the pandemic turned everything on its head, creating an any-port-in-a-storm situation. While meal kits send you all the ingredients, those meals still take a long time to prepare and cook. While Blue Apron was a pioneer in the meal kit space, it’s a market that consumers seemed to have soured on in recent years. You can see the company’s growth in this chart from the earnings release: Orders per customer were also up 17 percent to 5.4 and average order value increased to $61, the highest level since 2015. It didn’t hurt that early on in the pandemic, panic shopping meant groceries at the store were harder to come by, pushing people to find alternate ways of getting dinner ingredients.īlue Apron added 20,000 customers during Q2, and the average revenue per customer increased 25 percent year-over-year to $331.

In its earnings release, Blue Apron attributed the good numbers to the “impact on consumer behavior from the COVID-19 pandemic.” Translation: Q2 was smack dab in the middle of restaurants closing and people stuck at home, cooking more. The company reached a net income of $1.1 million, or $0.08 diluted earnings per share. Blue Apron’s net revenue for Q2 was $131 million, up 20 percent over the previous quarter and 10 percent year-over-year. Meal kit company Blue Apron announced profitable second quarter 2020 earnings today, driven in large part by the global pandemic.

Blue apron earnings