Blue Apron Holdings Inc.’s latest earnings show the meal-kit company still has “substantial doubt” it can continue as a going concern as it posts another net loss and decline in revenue.
Blue Apron APRN, +0.08% acknowledged in the filing its long history of significant net losses, which came to $89.3 million in the nine months through Sept. 30 and $87.9 million in the year-earlier period. “These conditions and events in the aggregate raise substantial doubt regarding the company’s ability to continue as a going concern,” it continued, adding that the only way forward is to implement its operating plan on the anticipated timeline and successfully close the merger.