Grubhub Inc. 10-Q Quarterly Report Tue May 08 2018

CHICAGO, May 1, 2018 – Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery marketplace, today announced financial results for the first quarter ended March 31, 2018. For the first quarter, the Company posted revenues of $232.6 million, which is a 49% year-over-year increase from $156.1 million in the first quarter of 2017. Gross Food Sales grew 39% year-over-year to $1.2 billion, up from $898 million in the year ago period.

"Our team executed well in the first quarter, making meaningful progress toward our most significant goals for 2018. We’ve already launched dozens of new delivery markets, completed our Yelp and Eat24 integrations a quarter earlier than expected, and attracted a record quarterly number of organic new diners," said Grubhub CEO, Matt Maloney. "Our restaurant partnerships are broader and deeper than ever before, increasing our value to diners and driving sustained diner and order growth.”

First Quarter 2018 Highlights

The following results reflect the financial performance and key operating metrics of our business for the three months ended March 31, 2018, as compared to the same period in 2017.

First Quarter Financial Highlights

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Revenues: $232.6 million, a 49% year-over-year increase from $156.1 million in the first quarter of 2017.

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Net Income: $30.8 million, or $0.34 per diluted share, a 74% year-over-year increase from $17.7 million, or $0.20 per diluted share, in the first quarter of 2017.

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Non-GAAP Adjusted EBITDA: $64.1 million, a 51% year-over-year increase from $42.5 million in the first quarter of 2017.

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Non-GAAP Net Income: $47.2 million, or $0.52 per diluted share, an 88% year-over-year increase from $25.1 million, or $0.29 per diluted share, in the first quarter of 2017.

First Quarter Key Business Metrics Highlights

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Active Diners were 15.1 million, a 72% year-over-year increase from 8.8 million Active Diners in the first quarter of 2017.

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Daily Average Grubs (DAGs) were 436,900, a 35% year-over-year increase from 324,600 DAGs in the first quarter of 2017.

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Gross Food Sales were $1.2 billion, a 39% year-over-year increase from $898 million in the first quarter of 2017.

The following information was filed by Grubhub Inc. on Tuesday, May 1, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Grubhub Inc.'s 10-Q Quarterly Report:

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could have a significant impact on the recoverability of the Companys goodwill and could have a material impact on the consolidated finan

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Such changes could result in revisions of managements estimates of our fair value and could result in a material impairment of goodwill.
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Management also considered how our market capitalization, business growth and other factors used in the September 30, 2017 impairment analysis, could be impacted by changes in market conditions and economic events.
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The decrease in net cash used in investing activities during the three months ended March 31, 2018 was primarily the result of the $47.2 million decrease in the purchases of short-term investments and acquisition of certain assets of businesses of $5.0 million during the three months ended March 31, 2017, partially offset by the $37.7 million decrease in proceeds from maturities of investments.
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our ability to generate positive cash flow and achieve and maintain profitability
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The Company included Adjusted EBITDA...Read more
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For restaurants, Grubhub generates higher...Read more
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However, the Companys liquidity assumptions...Read more
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As of March 31, 2018,...Read more
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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Grubhub Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

CIK: 1594109
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-011840
Submitted to the SEC: Tue May 08 2018 4:19:47 PM EST
Accepted by the SEC: Tue May 08 2018
Period: Saturday, March 31, 2018
Industry: Business Services