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Grubhub Inc. (GRUB) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

SEC Filings

Grubhub Inc.

CIK: 1594109

 

Exhibit 99.1

 

GRUBHUB REPORTS RECORD fourth QUARTER AND FULL YEAR 2018 RESULTS

 

Grubhub generates 40% revenue growth in the fourth quarter

 

CHICAGO, Feb. 7, 2019 – Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery marketplace, today announced financial results for the fourth quarter ended Dec. 31, 2018. The Company posted revenues of $288 million, which is a 40% year-over-year increase from $205 million in the fourth quarter of 2017. Gross Food Sales grew 21% year-over-year to $1.4 billion, up from $1.1 billion in the same period last year.

 

“2018 was a transformational year for Grubhub. We made great progress connecting hungry takeout diners with the restaurants they want, further positioning ourselves to continue to capture a significant share of the more than $200 billion takeout industry in the U.S.,” said Matt Maloney, Grubhub’s founder and chief executive officer. “We deepened relationships with our restaurant partners through acquisitions of LevelUp and Tapingo, increased the number of restaurants that partner with us to more than 105,000, grew active diners on our platform by 3.2 million, and – most emblematic of the year – accelerated organic DAG growth on our marketplace every single quarter. We couldn’t be more excited about building on this momentum in 2019.”

 

Fourth Quarter and Full Year 2018 Highlights

 

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

 

Fourth Quarter Financial Highlights

 

 

Revenues: $287.7 million, a 40% year-over-year increase from $205.1 million in the fourth quarter of 2017.

 

Net Income (Loss): $(5.2) million, or $(0.06) per diluted share, an 110% year-over-year decrease from $53.5 million, or $0.60 per diluted share, in the fourth quarter of 2017.

 

Non-GAAP Adjusted EBITDA: $42.1 million, a 26% year-over-year decrease from $57.0 million in the fourth quarter of 2017.

 

Non-GAAP Net Income: $17.6 million, or $0.19 per diluted share, a 47% year-over-year decrease from $33.3 million, or $0.37 per diluted share, in the fourth quarter of 2017.

 

Fourth Quarter Key Business Metrics Highlights1

 

 

Active Diners were 17.7 million, a 22% year-over-year increase from 14.5 million Active Diners in the fourth quarter of 2017.

 

Daily Average Grubs (DAGs) were 467,500, a 19% year-over-year increase from 392,500 DAGs in the fourth quarter of 2017.

 

Gross Food Sales were $1.4 billion, a 21% year-over-year increase from $1.1 billion in the fourth quarter of 2017.

 

1 

Key Business Metrics are defined in the table below.

 


The following information was filed by Grubhub Inc. on Thursday, February 7, 2019 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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Inside Grubhub Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Statements Of Cash Flows
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 (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)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Deferred Income Tax Assets And Liabilities (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)
Estimated Future Amortization Of Acquired Intangible Assets (Detail)
Estimated Useful Life Of Property And Equipment (Detail)
Fair Value Measurement
Fair Value Measurement (Tables)
Future Minimum Lease Payments (Detail)
Goodwill And Acquired Intangible Assets
Goodwill And Acquired Intangible Assets (Tables)
Goodwill And Acquired Intangible Assets - Additional Information (Detail)
Income Before Provision For Income Taxes (Detail)
Income Tax Provision (Detail)
Income Taxes
Income Taxes (Tables)
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)
Reconciliation Of Income Taxes Computed At U.S. Federal Statutory Rate To Income Taxes (Detail)
Retirement Plan
Retirement Plan - Additional Information (Detail)
Revenue
Revenue (Tables)
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)
Schedule Of Future Maturities Of Principal Payments (Detail)
Stock Option Activity (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stockholders' Equity
Stockholders' Equity - Additional Information (Detail)
Subsequent Events
Subsequent Events - Additional Information (Detail)
Summary Of Changes In Allowance For Doubtful Accounts (Detail)
Summary Of Continuous Unrealized Loss On Marketable Securities (Detail)
Summary Of Held-To-Maturity Marketable Securities (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
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: 0001564590-19-005487
Submitted to the SEC: Thu Feb 28 2019 11:31:02 AM EST
Accepted by the SEC: Thu Feb 28 2019
Period: Monday, December 31, 2018
Industry: Business Services

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