Last10K.com

Grubhub Inc. (GRUB) SEC Filing 8-K Material Event for the period ending Wednesday, October 28, 2020

SEC Filings

Grubhub Inc.

CIK: 1594109

Exhibit 99.1

 

 

GRUBHUB REPORTS third QUARTER 2020 RESULTS

 

Grubhub generates 53% revenue growth in the third quarter

 

CHICAGO, October 28, 2020 – Grubhub Inc. (NYSE: GRUB), a leading online and mobile food-ordering and delivery marketplace, today announced financial results for the third quarter ended September 30, 2020 and also posted a letter to shareholders on its investor relations website. The Company reported revenues of $494 million, which is a 53% year-over-year increase from $322 million in the same period last year. Gross Food Sales grew 68% year-over-year to $2.4 billion, up from $1.4 billion in the same period last year.

 

“Connecting restaurants and diners is more important than ever given the challenges our restaurant partners still face because of the pandemic. Since March, we have supported our restaurant partners with hundreds of millions of dollars through increased marketing support, reduced commissions, and bonuses and personal protective equipment for drivers,” said Matt Maloney, Grubhub founder and CEO. “Earlier this month, the Just Eat Takeaway.com shareholders overwhelmingly voted in favor of the proposed acquisition of Grubhub, which is on track for completion in the first half of 2021.”

 

Third Quarter 2020 Highlights

 

The following results reflect the financial performance and key operating metrics of our business for the three months ended September 30, 2020, as compared to the same period in 2019.

 

Third Quarter Financial Highlights

 

 

Revenues: $494.0 million, a 53% year-over-year increase from $322.1 million in the third quarter of 2019.

 

Net Income (Loss): $(9.2) million, or $(0.10) per diluted share, a decrease from $1.0 million, or $0.01 per diluted share, in the third quarter of 2019.

 

Non-GAAP Adjusted EBITDA: $43.8 million, a 19% year-over-year decrease from $53.8 million in the third quarter of 2019.

 

Non-GAAP Net Income: $15.2 million, or $0.16 per diluted share, a decrease from $24.7 million, or $0.27 per diluted share, in the third quarter of 2019.

 

Third Quarter Key Business Metrics Highlights1

 

 

Active Diners: 30.0 million, a 41% year-over-year increase from 21.2 million Active Diners in the third quarter of 2019.

 

Daily Average Grubs (DAGs): 668,600, a 46% year-over-year increase from 457,300 DAGs in the third quarter of 2019.

 

Gross Food Sales: $2.4 billion, a 68% year-over-year increase from $1.4 billion in the third quarter of 2019.

 

“Diner and order growth further accelerated in the third quarter as consumers across the country increasingly embraced the control, ease and convenience of ordering through Grubhub,” said Adam DeWitt, Grubhub president and CFO. “We continued to invest aggressively in new diner acquisition and support for our restaurant partners while also generating our highest Adjusted

 

1 

Key Business Metrics are defined on pages 28 - 29 of our Annual Report on Form 10-K filed on February 28, 2020.

 


EBITDA per order in a year. This quarter again showcased the strength and sustainability of our business and ability to drive results for our restaurant partners in this challenging time.”

 

Guidance

 

Given Grubhub’s pending acquisition by Just Eat Takeaway.com, it is no longer issuing forward-looking guidance.

 

About Grubhub

 

Grubhub (NYSE: GRUB) is a leading online and mobile food-ordering and delivery marketplace with the largest and most comprehensive network of restaurant partners, as well as nearly 30 million active diners. Dedicated to connecting diners with the food they love from their favorite local restaurants, Grubhub elevates food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub features over 300,000 restaurants and is proud to partner with approximately 245,000 of these restaurants in over 4,000 U.S. cities. The Grubhub portfolio of brands includes Grubhub, Seamless, LevelUp, AllMenus and MenuPages.

 

Use of Forward-Looking Statements

 

This communication contains “forward-looking statements” regarding Grubhub, Just Eat Takeaway.com or their respective management’s future expectations, beliefs, intentions, goals, strategies, plans and prospects, which, in the case of Grubhub, are made in reliance on the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve substantial risks, known and unknown, uncertainties, assumptions and other factors that may cause actual results, performance or achievements to differ materially from future results expressed or implied by such forward-looking statements including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of one or both of Grubhub or Just Eat Takeaway.com to terminate the merger agreement; the ability to obtain approval by Grubhub stockholders on the expected schedule or at all; difficulties and delays in integrating Grubhub’s and Just Eat Takeaway.com’s businesses; risks that the proposed merger disrupts Grubhub’s or Just Eat Takeaway.com’s current plans and operations; failing to fully realize anticipated synergies, cost savings and other anticipated benefits of the proposed merger when expected or at all; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed merger; the risk that unexpected costs will be incurred; the ability of Grubhub or Just Eat Takeaway.com to retain and hire key personnel; the diversion of management’s attention from ongoing business operations; uncertainty as to the value of the Just Eat Takeaway.com ordinary shares to be issued in connection with the proposed merger; uncertainty as to the long-term value of the common stock of the combined company following the proposed merger; the continued availability of capital and financing following the proposed merger; the outcome of any legal proceedings that may be instituted against Grubhub, Just Eat Takeaway.com or their respective directors and officers; changes in global, political, economic, business, competitive, market and regulatory forces; changes in tax laws, regulations, rates and policies; future business acquisitions or disposals; competitive developments; and the timing and occurrence (or non-occurrence) of other events or circumstances that may be beyond Grubhub’s and Just Eat Takeaway.com’s control. These and other risks, uncertainties, assumptions and other factors may be amplified or made more uncertain by the COVID-19 pandemic, which has caused significant economic uncertainty. The extent to which the COVID-19 pandemic impacts Grubhub’s and Just Eat Takeaway.com’s businesses, operations and financial results, including the duration and magnitude of such effects, will depend on numerous factors, which are unpredictable, including, but not limited to, the duration and spread of the outbreak, its severity, the actions taken to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Forward-looking statements generally relate to future events or Grubhub and Just Eat Takeaway.com’s future financial or operating performance and include, without limitation,


statements relating to the proposed merger and the potential impact of the COVID-19 outbreak on Grubhub and Just Eat Takeaway.com’s business and operations. In some cases, you can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “contemplates,” “could,” “seeks,” “estimates,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” “would” or similar expressions and the negatives of those terms. 

 

While forward-looking statements are Grubhub’s and Just Eat Takeaway.com’s current predictions at the time they are made, you should not rely upon them. Forward-looking statements represent Grubhub’s and Just Eat Takeaway.com’s management’s beliefs and assumptions only as of the date of this communication, unless otherwise indicated, and there is no implication that the information contained in this communication is made subsequent to such date. For additional information concerning factors that could cause actual results and outcomes to differ materially from those expressed or implied in the forward-looking statements, please refer to the cautionary statements and risk factors included in Grubhub’s filings with the Securities and Exchange Commission (the “SEC”), including Grubhub’s Annual Report on Form 10-K filed with the SEC on February 28, 2020, Grubhub’s Quarterly Reports on Form 10-Q and any further disclosures Grubhub makes in Current Reports on Form 8-K. Grubhub’s SEC filings are available electronically on Grubhub’s investor website at www.investors.grubhub.com or the SEC’s website at www.sec.gov. For additional information concerning factors that could cause future results to differ from those expressed or implied in the forward-looking statements, please refer to Just Eat Takeaway.com’s non-exhaustive list of key risks and cautionary statements included in Just Eat Takeaway.com’s Annual Report, which is available electronically on Just Eat Takeaway.com’s investor website at www.justeattakeaway.com. Except as required by law, Grubhub and Just Eat Takeaway.com assume no obligation to update these forward-looking statements or this communication, or to update, supplement or correct the information set forth in this communication or the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. All subsequent written and oral forward-looking statements attributable to Grubhub, Just Eat Takeaway.com or any person acting on behalf of either party are expressly qualified in their entirety by the cautionary statements referenced above.

 

Additional Information and Where to Find It

 

In connection with the proposed merger, Just Eat Takeaway.com will file with the SEC a registration statement on Form F-4 to register the shares to be issued in connection with the proposed merger. The registration statement will include a preliminary proxy statement of Grubhub/prospectus of Just Eat Takeaway.com which, when finalized, will be sent to the stockholders of Grubhub seeking their approval of the respective merger-related proposals. Also in connection with the proposed merger, Just Eat Takeaway.com will file with the Netherlands Authority for the Financial Markets (“AFM”) and/or the UK Financial Conduct Authority (“FCA”) a prospectus for the listing and admission to trading on Euronext Amsterdam and/or the admission to listing on the FCA’s Official List and to trading on the London Stock Exchange’s Main Market for listed securities of the shares to be issued in connection with the proposed merger (the “Prospectus”). INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM F-4 AND THE RELATED PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM F-4, THE PROSPECTUS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC, THE AFM AND/OR THE FCA IN CONNECTION WITH THE PROPOSED MERGER, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT GRUBHUB, JUST EAT TAKEAWAY.COM AND THE PROPOSED MERGER.

Investors and security holders may obtain copies of these documents and any other documents filed with or furnished to the SEC by Grubhub or Just Eat Takeaway.com free of charge through the website maintained by the SEC at www.sec.gov, from Grubhub at its website,


www.investors.grubhub.com, or from Just Eat Takeaway.com at its website www. justeattakeaway.com. The Prospectus, as well as any supplement thereto, will be made available on the website of Just Eat Takeaway.com at its website www. justeattakeaway.com.

 

Participants in the Solicitation

 

Grubhub, Just Eat Takeaway.com and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed merger under the rules of the SEC. Information about Grubhub’s directors and executive officers is available in Grubhub’s proxy statement dated April 9, 2020 for its 2020 Annual Meeting of Stockholders. To the extent holdings of Grubhub securities by directors or executive officers of Grubhub have changed since the amounts contained in the definitive proxy statement for Grubhub’s 2020 Annual Meeting of Stockholders, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. These documents are available free of charge from the sources indicated above, and from Grubhub by going to its investor relations page on its corporate website at www.investors.grubhub.com.  Information about Just Eat Takeaway.com’s directors and executive officers and a description of their interests are set forth in Just Eat Takeaway.com’s 2019 Annual Report, which may be obtained free of charge from Just Eat Takeaway.com’s website, www.justeattakeaway.com. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed merger when they become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Grubhub or Just Eat Takeaway.com using the sources indicated above.

 

No Offer or Solicitation

 

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended and applicable United Kingdom, Dutch and other European regulations.

 

Use of Non-GAAP Financial Measures

 

Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share attributable to common stockholders are financial measures that are not calculated in accordance with accounting principles generally accepted in the United States, or GAAP.

 

We define Adjusted EBITDA as net income (loss) adjusted to exclude merger, acquisition, restructuring and certain legal costs, income taxes, net interest expense, depreciation and amortization and stock-based compensation expense. Non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share attributable to common stockholders exclude merger, acquisition, restructuring and certain legal costs, amortization of acquired intangible assets, stock-based compensation expense and other nonrecurring items as well as the income tax effects of these non-GAAP adjustments. We use these non-GAAP financial measures as key performance measures because we believe they facilitate operating performance comparisons from period to period by excluding potential differences primarily caused by variations in capital structures, tax positions, the impact of acquisitions, restructuring and certain legal costs, the impact of depreciation and amortization expense on our fixed assets and the impact of stock-based compensation expense. Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share attributable to common stockholders are not measurements of our


financial performance under GAAP and should not be considered as an alternative to performance measures derived in accordance with GAAP.

 

See “Non-GAAP Financial Measures Reconciliation” below for a reconciliation of net income (loss) to Adjusted EBITDA, non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share attributable to common stockholders.

 

Contacts:

 


Adam Patnaude

Investor Relations

ir@grubhub.com

Katie Norris

Media Relations

press@grubhub.com

 


 

 

GRUBHUB INC.

STATEMENTS OF OPERATIONS

(in thousands, except per share data)

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues

$

493,981

 

 

$

322,053

 

 

$

1,316,243

 

 

$

970,881

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operations and support

 

316,456

 

 

 

161,387

 

 

 

849,884

 

 

 

485,143

 

Sales and marketing

 

97,817

 

 

 

71,617

 

 

 

282,563

 

 

 

224,199

 

Technology (exclusive of amortization)

 

30,796

 

 

 

29,483

 

 

 

92,297

 

 

 

86,133

 

General and administrative

 

27,484

 

 

 

25,329

 

 

 

98,670

 

 

 

73,900

 

Depreciation and amortization

 

36,556

 

 

 

30,649

 

 

 

104,476

 

 

 

82,961

 

Total costs and expenses

 

509,109

 

 

 

318,465

 

 

 

1,427,890

 

 

 

952,336

 

Income (loss) from operations

 

(15,128

)

 

 

3,588

 

 

 

(111,647

)

 

 

18,545

 

Interest expense, net

 

6,979

 

 

 

6,025

 

 

 

20,175

 

 

 

14,304

 

Income (loss) before provision for income taxes

 

(22,107

)

 

 

(2,437

)

 

 

(131,822

)

 

 

4,241

 

Income tax benefit

 

(12,869

)

 

 

(3,447

)

 

 

(43,746

)

 

 

(4,911

)

Net income (loss) attributable to common stockholders

$

(9,238

)

 

$

1,010

 

 

$

(88,076

)

 

$

9,152

 

Net income (loss) per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(0.10

)

 

$

0.01

 

 

$

(0.96

)

 

$

0.10

 

Diluted

$

(0.10

)

 

$

0.01

 

 

$

(0.96

)

 

$

0.10

 

Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

92,496

 

 

 

91,349

 

 

 

92,135

 

 

 

91,159

 

Diluted

 

92,496

 

 

 

92,847

 

 

 

92,135

 

 

 

92,850

 

 

KEY BUSINESS METRICS

 

 

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Active Diners (000s)

 

 

 

29,956

 

 

 

21,197

 

 

 

29,956

 

 

 

21,197

 

Daily Average Grubs

 

 

 

668,600

 

 

 

457,300

 

 

 

610,900

 

 

 

488,800

 

Gross Food Sales (millions)

 

 

$

2,354

 

 

$

1,400

 

 

$

6,308

 

 

$

4,362

 

 

 


 

GRUBHUB INC.

 

CONSOLIDATED BALANCE SHEETS

 

(in thousands, except share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

2020

 

 

December 31,

 2019

 

ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

Cash and cash equivalents

$

405,273

 

 

$

375,909

 

Short-term investments

 

61,497

 

 

 

49,275

 

Accounts receivable, less allowances for doubtful accounts

 

75,793

 

 

 

119,658

 

Income tax receivable

 

22,577

 

 

 

3,960

 

Prepaid expenses and other current assets

 

17,875

 

 

 

17,515

 

Total current assets

 

583,015

 

 

 

566,317

 

PROPERTY AND EQUIPMENT:

 

 

 

 

 

 

 

Property and equipment, net of depreciation and amortization

 

217,923

 

 

 

172,744

 

OTHER ASSETS:

 

 

 

 

 

 

 

Other assets

 

42,510

 

 

 

26,836

 

Operating lease right-of-use asset

 

95,863

 

 

 

100,632

 

Goodwill

 

1,007,968

 

 

 

1,007,968

 

Acquired intangible assets, net of amortization

 

465,041

 

 

 

500,481

 

Total other assets

 

1,611,382

 

 

 

1,635,917

 

TOTAL ASSETS

$

2,412,320

 

 

$

2,374,978

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

Restaurant food liability

$

115,584

 

 

$

131,753

 

Accounts payable

 

16,974

 

 

 

26,748

 

Accrued payroll

 

33,871

 

 

 

19,982

 

Current operating lease liability

 

16,667

 

 

 

9,376

 

Other accruals

 

156,552

 

 

 

61,504

 

Total current liabilities

 

339,648

 

 

 

249,363

 

LONG-TERM LIABILITIES:

 

 

 

 

 

 

 

Deferred taxes, non-current

 

1,404

 

 

 

27,163

 

Noncurrent operating lease liability

 

106,836

 

 

 

111,056

 

Long-term debt

 

493,876

 

 

 

493,009

 

Other accruals

 

4,531

 

 

 

817

 

Total long-term liabilities

 

606,647

 

 

 

632,045

 

STOCKHOLDERS’ EQUITY:

 

 

 

 

 

 

 

Common stock, $0.0001 par value

 

9

 

 

 

9

 

Accumulated other comprehensive loss

 

(1,866

)

 

 

(1,628

)

Additional paid-in capital

 

1,225,169

 

 

 

1,164,400

 

Retained earnings

 

242,713

 

 

 

330,789

 

Total Stockholders’ Equity

$

1,466,025

 

 

$

1,493,570

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

2,412,320

 

 

$

2,374,978

 

 

 


 

GRUBHUB INC.

 

CONSOLIDATED STATEMENTS OF CASH FLOWS

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended

September 30,

 

 

 

2020

 

 

2019

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(88,076

)

 

$

9,152

 

Adjustments to reconcile net income (loss) to net cash from operating activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

30,089

 

 

 

21,665

 

Amortization of intangible assets and developed software

 

 

74,387

 

 

 

61,296

 

Stock-based compensation

 

 

62,060

 

 

 

54,806

 

Deferred taxes

 

 

(25,759

)

 

 

(6,208

)

Other

 

 

3,279

 

 

 

5,210

 

Change in assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

42,636

 

 

 

(13,335

)

Income taxes receivable

 

 

(18,617

)

 

 

7,722

 

Prepaid expenses and other assets

 

 

(10,228

)

 

 

(11,955

)

Restaurant food liability

 

 

(16,111

)

 

 

3,247

 

Accounts payable

 

 

(5,371

)

 

 

(50

)

Accrued payroll

 

 

13,888

 

 

 

4,366

 

Other accruals

 

 

93,285

 

 

 

20,088

 

Net cash provided by operating activities

 

 

155,462

 

 

 

156,004

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

Purchases of investments

 

 

(87,260

)

 

 

(49,506

)

Proceeds from maturity of investments

 

 

75,350

 

 

 

31,736

 

Capitalized website and development costs

 

 

(43,532

)

 

 

(35,068

)

Purchases of property and equipment

 

 

(53,232

)

 

 

(42,702

)

Acquisition of other intangible assets

 

 

(510

)

 

 

(8,889

)

Acquisitions of businesses, net of cash acquired

 

 

 

 

 

127

 

Other cash flows from investing activities

 

 

(525

)

 

 

(250

)

Net cash used in investing activities

 

 

(109,709

)

 

 

(104,552

)

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Proceeds from the issuance of long-term debt

 

 

175,000

 

 

 

500,000

 

Repayments of borrowings under the credit facility

 

 

(175,000

)

 

 

(342,313

)

Taxes paid related to net settlement of stock-based compensation awards

 

 

(23,561

)

 

 

(20,503

)

Proceeds from exercise of stock options

 

 

7,484

 

 

 

4,040

 

Payments for debt issuance costs

 

 

(89

)

 

 

(9,136

)

Other cash flows from financing activities

 

 

(1,063

)

 

 

 

Net cash provided by (used in) financing activities

 

 

(17,229

)

 

 

132,088

 

Net change in cash, cash equivalents, and restricted cash

 

 

28,524

 

 

 

183,540

 

Effect of exchange rates on cash, cash equivalents and restricted cash

 

 

(217

)

 

 

(293

)

Cash, cash equivalents, and restricted cash at beginning of year

 

 

379,595

 

 

 

215,802

 

Cash, cash equivalents, and restricted cash at end of the period

 

$

407,902

 

 

$

399,049

 

SUPPLEMENTAL DISCLOSURE OF NON-CASH ITEMS

 

 

 

 

 

 

 

 

Cash paid for income taxes

 

$

136

 

 

$

567

 

 

 


 

GRUBHUB INC.

NON-GAAP FINANCIAL MEASURES RECONCILIATION

(in thousands, except per share and per order data)

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net income (loss)

$

(9,238

)

 

$

1,010

 

 

$

(88,076

)

 

$

9,152

 

Income taxes

 

(12,869

)

 

 

(3,447

)

 

 

(43,746

)

 

 

(4,911

)

Interest expense, net

 

6,979

 

 

 

6,025

 

 

 

20,175

 

 

 

14,304

 

Depreciation and amortization

 

36,556

 

 

 

30,649

 

 

 

104,476

 

 

 

82,961

 

EBITDA

 

21,428

 

 

 

34,237

 

 

 

(7,171

)

 

 

101,506

 

Merger, acquisition, restructuring and certain legal costs

 

1,518

 

 

 

1,312

 

 

 

23,210

 

 

 

3,139

 

Stock-based compensation

 

20,839

 

 

 

18,279

 

 

 

62,060

 

 

 

54,806

 

Adjusted EBITDA

$

43,785

 

 

$

53,828

 

 

$

78,099

 

 

$

159,451

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per order

$

(0.15

)

 

$

0.02

 

 

$

(0.53

)

 

$

0.07

 

Adjusted EBITDA per order

$

0.71

 

 

$

1.28

 

 

$

0.47

 

 

$

1.19

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net income (loss)

$

(9,238

)

 

$

1,010

 

 

$

(88,076

)

 

$

9,152

 

Stock-based compensation

 

20,839

 

 

 

18,279

 

 

 

62,060

 

 

 

54,806

 

Amortization of acquired intangible assets

 

11,268

 

 

 

13,575

 

 

 

35,440

 

 

 

37,345

 

Merger, acquisition, restructuring and certain legal costs

 

1,518

 

 

 

1,312

 

 

 

23,210

 

 

 

3,139

 

Income tax adjustments

 

(9,227

)

 

 

(9,510

)

 

 

(33,437

)

 

 

(26,967

)

Non-GAAP income (loss)

$

15,160

 

 

$

24,666

 

 

$

(803

)

 

$

77,475

 

Weighted-average diluted shares used to compute income (loss) per share attributable to common stockholders

 

94,575

 

 

 

92,847

 

 

 

92,135

 

 

 

92,850

 

Non-GAAP income (loss) per diluted share attributable to common stockholders

$

0.16

 

 

$

0.27

 

 

$

(0.01

)

 

$

0.83

 

 

 

 

 

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Grubhub Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Material Contracts, Statements, Certifications & more

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

CIK: 1594109
Form Type: 8-K Corporate News
Accession Number: 0001564590-20-048368
Submitted to the SEC: Wed Oct 28 2020 4:30:32 PM EST
Accepted by the SEC: Wed Oct 28 2020
Period: Wednesday, October 28, 2020
Industry: Business Services
Events:
  1. Earnings Release
  2. Financial Exhibit
  3. Regulated Disclosure

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