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Grubhub Inc. (GRUB) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

SEC Filings

Grubhub Inc.

CIK: 1594109

 

Exhibit 99.1

 

GRUBHUB REPORTS RECORD FOURTH QUARTER

AND FULL YEAR 2016 RESULTS

 

Grubhub generates 38% revenue growth in the fourth quarter

 

CHICAGO, Feb. 8, 2017 – Grubhub Inc. (NYSE: GRUB), the nation’s leading takeout marketplace, today announced financial results for the quarter and year ended Dec. 31, 2016. Orders grew 21% year-over-year, and the Company posted quarterly revenues of $137.5 million, which is a 38% year-over-year increase from $100.0 million in the fourth quarter of 2015.

 

“Grubhub had a transformative year in 2016. We dramatically improved our product and reaccelerated order growth. Fueled by data-driven product enhancements, substantial strides in delivery, and a refreshed marketing approach, we exited the year growing DAGs faster than we did a year ago,” said Matt Maloney, Grubhub CEO. “With Grubhub delivery now in roughly 70 markets across the country and a significantly improved restaurant network, we enter 2017 well positioned to press our market leading advantage and give Grubhub growth momentum for years to come.”

 

Fourth Quarter and Full Year 2016 Highlights

 

The following results reflect the financial performance and key operating metrics of our business for the three months and year ended Dec. 31, 2016, as compared to the same periods in 2015.

 

Fourth Quarter Financial Highlights

 

 

Revenues: $137.5 million, a 38% year-over-year increase from $100.0 million in the fourth quarter of 2015.

 

Net Income: $13.6 million, or $0.16 per diluted share, a 21% year-over-year increase from $11.3 million, or $0.13 per diluted share, in the fourth quarter of 2015.

 

Non-GAAP Adjusted EBITDA: $39.2 million, a 46% year-over-year increase from $26.8 million in the fourth quarter of 2015.

 

Non-GAAP Net Income: $19.8 million, or $0.23 per diluted share, a 19% year-over-year increase from $16.7 million, or $0.19 per diluted share, in the fourth quarter of 2015.

 

Fourth Quarter Key Business Metrics Highlights

 

 

Active Diners were 8.17 million, a 21% year-over-year increase from 6.75 million Active Diners in the fourth quarter of 2015.

 

Daily Average Grubs were 292,500, a 21% year-over-year increase from 241,800 Daily Average Grubs in the fourth quarter of 2015.

 

Gross Food Sales were $818 million, a 27% year-over-year increase from $643 million in the fourth quarter of 2015.

 

Full Year Financial Highlights

 

 

Revenues: $493.3 million, a 36% year-over-year increase from $361.8 million in 2015.

 

Net Income: $49.6 million, or $0.58 per diluted share, a 30% year-over-year increase from $38.1 million, or $0.44 per diluted share, in 2015.

 

Non-GAAP Adjusted EBITDA: $144.6 million, a 38% year-over-year increase from $105.0 million in 2015.

 

Non-GAAP Net Income: $76.6 million, or $0.89 per diluted share, a 32% year-over-year increase from $58.1 million, or $0.68 per diluted share.


The following information was filed by Grubhub Inc. on Wednesday, February 8, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Changes In Stockholders' Equity And Redeemable Common Stock
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Statements Of Cash Flows
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Anti-dilutive Securities Excluded From Calculation Of Diluted Net Income Per Share (detail)
Assumptions Used To Determine Fair Value Of Stock Options Granted (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Components Of Acquired Intangible Assets (detail)
Components Of Acquired Intangibles Assets Added During The Years (detail)
Components Of Property And Equipment (detail)
Computation Of Basic And Diluted Net Income Per Share (detail)
Computation Of Basic And Diluted Net Income Per Share (parenthetical) (detail)
Debt
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Deferred Income Tax Assets And Liabilities (detail)
Earnings Per Share Attributable To Common Stockholders
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Estimated Future Amortization Of Acquired Intangible Assets (detail)
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Income Before Provision For Income Taxes (detail)
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Income Taxes
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Marketable Securities
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Non-vested Restricted Stock Units And Restricted Stock Awards (detail)
Organization
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Pro Forma Summary Of Operation (detail)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Additional Information (detail)
Reconciliation Of Income Taxes Computed At U.s. Federal Statutory Rate To Income Taxes (detail)
Retirement Plan
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Schedule Of Acquisition-date Fair Value Of Assets And Liabilities (detail)
Schedule Of Carrying Amount Of Goodwill (detail)
Schedule Of Fair Value Assets Measured On Recurring Basis (detail)
Stock Option Activity (detail)
Stock-based Compensation
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Stockholders' Equity
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Summary Of Changes In Allowance For Doubtful Accounts (detail)
Summary Of Continuous Unrealized Loss On Marketable Securities (detail)
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Summary Of Significant Accounting Policies
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Summary Of Significant Accounting Policies - Additional Information (detail)
Tax Loss And Credit Carryforwards (detail)
Unrecognized Tax Benefit Activity Excluding Related Accrual For Interest (detail)
CIK: 1594109
Form Type: 10-K Annual Report
Accession Number: 0001564590-17-002838
Submitted to the SEC: Tue Feb 28 2017 4:01:50 PM EST
Accepted by the SEC: Tue Feb 28 2017
Period: Saturday, December 31, 2016
Industry: Business Services

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