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Grubhub Inc. (GRUB) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

SEC Filings

Grubhub Inc.

CIK: 1594109

 

Exhibit 99.1

 

GRUBHUB REPORTS RECORD second QUARTER RESULTS

 

Announces acquisition of LevelUp to accelerate technology integrations and

provide the most comprehensive ordering and fulfillment solution

 

CHICAGO, July 25, 2018 – Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery marketplace, today announced financial results for the second quarter ended June 30, 2018. For the second quarter, the Company posted revenues of $240 million, which is a 51% year-over-year increase from $159 million in the second quarter of 2017. Gross Food Sales grew 39% year-over-year to $1.2 billion, up from $880 million in the year ago period. Grubhub today also announced it entered into an agreement to acquire Boston-based LevelUp, the leader in mobile diner engagement and payment solutions for national and regional restaurant brands.

 

“We had a standout quarter, highlighted by a record number of new diners trying Grubhub for the first time. We generated robust order growth, while continuing our rapid delivery expansion and adding thousands of high quality new restaurant partners,” said Matt Maloney, Grubhub’s founder and chief executive officer. “We’re also thrilled to announce the LevelUp acquisition. LevelUp’s leading restaurant-facing technology and the team they have built in Boston will help Grubhub provide the most comprehensive solution for restaurants, powering everything from online demand generation to fulfillment for restaurants.”

 

Second Quarter 2018 Highlights

 

The following results reflect the financial performance and key operating metrics of our business for the three months ended June 30, 2018, as compared to the same period in 2017.

 

Second Quarter Financial Highlights

 

 

Revenues: $239.7 million, a 51% year-over-year increase from $158.8 million in the second quarter of 2017.

 

Net Income: $30.1 million, or $0.33 per diluted share, a 104% year-over-year increase from $14.8 million, or $0.17 per diluted share, in the second quarter of 2017.

 

Non-GAAP Adjusted EBITDA: $67.4 million, a 61% year-over-year increase from $41.9 million in the second quarter of 2017.

 

Non-GAAP Net Income: $46.3 million, or $0.50 per diluted share, a 99% year-over-year increase from $23.2 million, or $0.26 per diluted share, in the second quarter of 2017.

 

Second Quarter Key Business Metrics Highlights

 

 

Active Diners were 15.6 million, a 70% year-over-year increase from 9.2 million Active Diners in the second quarter of 2017.

 

Daily Average Grubs (DAGs) were 423,200, a 35% year-over-year increase from 313,900 DAGs in the second quarter of 2017.

 

Gross Food Sales were $1.2 billion, a 39% year-over-year increase from $880 million in the second quarter of 2017.

 

 


The following information was filed by Grubhub Inc. on Wednesday, July 25, 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:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
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 - Additional Information (Detail)
Components Of Acquired Intangible Assets (Detail)
Components Of Property And Equipment (Detail)
Computation Of Basic And Diluted Net Income Per Share (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Earnings Per Share Attributable To Common Stockholders
Earnings Per Share Attributable To Common Stockholders (Tables)
Earnings Per Share Attributable To Common Stockholders - Additional Information (Detail)
Equity And Changes In Equity During Period (Detail)
Estimated Future Amortization Of Acquired Intangible Assets (Detail)
Fair Value Measurement
Fair Value Measurement (Tables)
Goodwill And Acquired Intangible Assets
Goodwill And Acquired Intangible Assets (Tables)
Goodwill And Acquired Intangible Assets - Additional Information (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Marketable Securities
Marketable Securities (Tables)
Marketable Securities - Additional Information (Detail)
Non-Vested Restricted Stock Units (Detail)
Organization
Pro Forma Adjustments For Additional Amortization Of That Would Have Been Recognized On The Intangible Assets (Detail)
Pro Forma Summary Of Operation (Detail)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Detail)
Revenue
Revenue - Additional Information (Detail)
Schedule Of Acquisition-Date Fair Value Of Assets And Liabilities (Detail)
Schedule Of Debt (Detail)
Schedule Of Fair Value And Carrying Value Of Assets And Liabilities Recorded At Other Than Fair Value (Detail)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies - Additional Information (Detail)
Stock Option Activity (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Detail)
Subsequent Events
Subsequent Events - Additional Information (Detail)
Summary Of Continuous Unrealized Loss On Marketable Securities (Detail)
Summary Of Held-To-Maturity Marketable Securities (Detail)

Material Contracts, Statements, Certifications & more

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

CIK: 1594109
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-019454
Submitted to the SEC: Mon Aug 06 2018 4:31:59 PM EST
Accepted by the SEC: Mon Aug 06 2018
Period: Saturday, June 30, 2018
Industry: Business Services

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