Cost reductions executed in 4Q22 are expected to drive up to $50 million in annualized savings, and have resulted in an over 50% year-over-year reduction in cash burn as of February 28, 2023.Cash and cash equivalents were $33.5 million as of Decemand $46.3 million as of February 28, 2023.Record high Average Revenue per Customer of $358 in 4Q22, an increase of 12.4% year-over-year and 5.4% sequentially.Record high Average Order Value of $73.15 in 4Q22, an increase of 14.7% year-over-year and 3.3% sequentially, due to a price increase introduced in FY22, expanded product offerings and upsell.Net revenue of approximately $107 million in 4Q22, flat to the prior year period and down 3% sequentially, impacted by a seasonal decrease in volume.NEW YORK-(BUSINESS WIRE)-Blue Apron (NYSE: APRN) today announced financial results for the fourth quarter (4Q22) and full year (FY22) ended December 31, 2022.
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