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

SEC Filings

Grubhub Inc.

CIK: 1594109

 

Exhibit 99.1

 

GRUBHUB REPORTS RECORD third QUARTER RESULTS

 

Grubhub generates 52% revenue growth in the third quarter

 

 

CHICAGO, Oct. 25, 2018 – Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery marketplace, today announced financial results for the third quarter ended Sept. 30, 2018. The Company posted revenues of $247 million, which is a 52% year-over-year increase from $163 million in the third quarter of 2017. Gross Food Sales grew 40% year-over-year to $1.2 billion, up from $867 million in the year ago period.

 

“We added more organic new diners this quarter than ever before, helping drive the highest organic DAG growth we’ve seen in a year and a half. Better restaurant selection, a more intelligent diner platform, and more strategic marketing continue to bring more high quality diners to Grubhub,” said Matt Maloney, Grubhub’s founder and chief executive officer. “With solid traction in new diner acquisition over multiple quarters and increased coverage across the country from our delivery expansion, we are in prime position to invest incrementally in advertising and accelerate online ordering adoption.”

Third Quarter 2018 Highlights

 

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

 

Third Quarter Financial Highlights

 

 

Revenues: $247.2 million, a 52% year-over-year increase from $163.1 million in the third quarter of 2017.

 

Net Income: $22.7 million, or $0.24 per diluted share, a 75% year-over-year increase from $13.0 million, or $0.15 per diluted share, in the third quarter of 2017.

 

Non-GAAP Adjusted EBITDA: $60.1 million, a 41% year-over-year increase from $42.7 million in the third quarter of 2017.

 

Non-GAAP Net Income: $42.2 million, or $0.45 per diluted share, a 72% year-over-year increase from $24.5 million, or $0.28 per diluted share, in the third quarter of 2017.

 

Third Quarter Key Business Metrics Highlights (excludes LevelUp impact in 2018)

 

 

Active Diners were 16.4 million, a 67% year-over-year increase from 9.8 million Active Diners in the third quarter of 2017.

 

Daily Average Grubs (DAGs) were 416,000, a 37% year-over-year increase from 304,500 DAGs in the third quarter of 2017.

 

Gross Food Sales were $1.2 billion, a 40% year-over-year increase from $867 million in the third quarter of 2017.


The following information was filed by Grubhub Inc. on Thursday, October 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)
Acquisitions - Valuation Methods For Intangible Assets Acquired (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 Acquired Intangibles Assets Added During The Period (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 Carrying Amount Of Goodwill (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)
CIK: 1594109
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-027428
Submitted to the SEC: Tue Nov 06 2018 11:17:11 AM EST
Accepted by the SEC: Tue Nov 06 2018
Period: Sunday, September 30, 2018
Industry: Business Services

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