Meal-kit delivery service Blue Apron (APRN) may have boasted about knowing the recipe to success once upon a time. But the market scrutiny that accompanies a public listing hasn’t done the company any favors. The New York-based company began trading on the NYSE earlier this summer. In less than six months, the valuation of the company has tanked as the stock price has fallen nearly 70%.

Blue Apron’s Financials

Blue Apron was founded in 2012 to help consumers make better meals at home by providing to them a menu plan along with the ingredients needed to deliver that menu. Since being founded, the company has delivered nearly 160 million meals to households across the United States. It provides original recipes that are designed and sent along with fresh, seasonal ingredients directly to its customers. Blue Apron offers two flexible plans—a 2-Person Plan and a Family Plan – that the customers can choose from depending on the number of portions they require. Besides selling meal plans, the company has also started to sell wine that can be paired with its meals, kitchen tools, and other staples that are used in its test kitchens.

Blue Apron’s interesting service has helped it deliver strong revenue growth. Revenues increased from $77.8 million in 2014 to $340.8 million in 2015 to $795.4 million in 2016. But the revenues have come in at a heavy cost. For the years ended December, net losses have grown from $30.8 million in 2014 to $47 million in 2015 to $54.9 million in 2016. During the same period, adjusted EBITDA has also grown in losses from $26.5 million to $42.9 million to $43.6 million.

Earlier this month, Blue Apron recorded its third quarter results that did little to improve the stock’s performance. Revenues grew 3% to $210.6 million, driven by an increase in Average Revenue per Customer. Net loss was $87.2 million and diluted loss per share was $0.47 for the quarter compared with a net loss of $37.4 million and diluted loss per share of $0.56 a year ago. Adjusted EBITDA came in at a loss of $48 million, compared to a loss of $34.6 million last year. The market was looking for revenues of $191.5 million and a net loss of $0.42 per share.