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Grubhub Inc. (GRUB) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

SEC Filings

Grubhub Inc.

CIK: 1594109

Exhibit 99.1

 

 

GRUBHUB REPORTS fourth QUARTER AND

FULL YEAR 2019 RESULTS

 

Grubhub generates 19% revenue growth in the fourth quarter

 

CHICAGO, February 5, 2020 –

Grubhub Inc. (NYSE: GRUB), a leading online and mobile food-ordering and delivery marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2019 and also posted a letter to shareholders on its investor relations website. For the fourth quarter, the Company reported revenues of $341 million, which is a 19% year-over-year increase from $288 million in the same period last year. Gross Food Sales grew 13% year-over-year to $1.6 billion, up from $1.4 billion in the fourth quarter of 2018.

 

"We strengthened both sides of our marketplace during the fourth quarter, adding 1.4 million active diners and more than doubling our restaurant selection from just a quarter ago," said Matt Maloney, Grubhub founder and CEO. "We are making good progress on the key initiatives we outlined last quarter. We added more than 15,000 partnered and over 150,000 non-partnered restaurant options for our diners and we also launched a number of new loyalty programs for our restaurant partners.”

 

Fourth Quarter and Full Year 2019 Highlights

 

The following results reflect the financial performance and key operating metrics of our business for the three and twelve months ended December 31, 2019, as compared to the same periods in 2018.

 

Fourth Quarter Financial Highlights

 

 

Revenues: $341.3 million, a 19% year-over-year increase from $287.7 million in the fourth quarter of 2018.

 

Net Income (Loss): $(27.7) million, or $(0.30) per diluted share, a decrease from $(5.2) million, or $(0.06) per diluted share, in the fourth quarter of 2018.

 

Non-GAAP Adjusted EBITDA: $26.7 million, a 37% year-over-year decrease from $42.1 million in the fourth quarter of 2018.

 

Non-GAAP Net Income (Loss): $(4.2) million, or $(0.05) per diluted share, a decrease from $17.6 million, or $0.19 per diluted share, in the fourth quarter of 2018.

 

Fourth Quarter Key Business Metrics Highlights1

 

 

Active Diners: 22.6 million, a 28% year-over-year increase from 17.7 million Active Diners in the fourth quarter of 2018.

 

Daily Average Grubs (DAGs): 502,600, a 8% year-over-year increase from 467,500 DAGs in the fourth quarter of 2018.

 

Gross Food Sales: $1.6 billion, a 13% year-over-year increase from $1.4 billion in the fourth quarter of 2018.

 

1 

Key Business Metrics are defined on page 29 of our Annual Report on Form 10-K filed on February 28, 2019.

 

 


The following information was filed by Grubhub Inc. on Wednesday, February 5, 2020 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 (Loss)
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 (Loss) 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)
Commitments And Contingencies - Additional Information (Detail1)
Components Of Acquired Intangible Assets (Detail)
Components Of Acquired Intangibles Assets Added During The Years (Detail)
Components Of Lease Costs (Detail)
Components Of Property And Equipment (Detail)
Computation Of Basic And Diluted Net Income (Loss) 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)
Goodwill And Acquired Intangible Assets
Goodwill And Acquired Intangible Assets (Tables)
Goodwill And Acquired Intangible Assets - Additional Information (Detail)
Income (Loss) 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
Other Accruals
Other Accruals (Tables)
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)
Schedule Of Other Accruals Recorded In Current Liabilities (Detail)
Schedule Of Other Accruals Recorded In Current Liabilities (Parenthetical) (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)
Summary Of Changes In Allowance For Doubtful Accounts (Detail)
Summary Of Continuous Unrealized Loss On Marketable Securities (Detail)
Summary Of Future Minimum Payments Under Non Cancelable Operating Lease (Detail)
Summary Of Future Operating Lease Payments (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)
Supplemental Cash Flow Information Related To Operating Leases Average Lease Terms And Discount Rates (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: 0001564590-20-007801
Submitted to the SEC: Fri Feb 28 2020 4:17:23 PM EST
Accepted by the SEC: Fri Feb 28 2020
Period: Tuesday, December 31, 2019
Industry: Business Services

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