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Grubhub Inc. (GRUB) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Grubhub Inc.

CIK: 1594109

Exhibit 99.1

 

 

GRUBHUB REPORTS fourth QUARTER AND FULL YEAR 2020 RESULTS

 

Grubhub generates 48% revenue growth in the fourth quarter

 

CHICAGO, February 3, 2021 –

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, 2020 and also posted a letter to shareholders on its investor relations website. For the fourth quarter, the Company reported revenues of $504 million, which is a 48% year-over-year increase from $341 million in the same period last year. Gross Food Sales grew 52% year-over-year to $2.4 billion, up from $1.6 billion in the fourth quarter of 2019.

 

"We remain steadfast in our support of our restaurant partners as the ongoing pandemic continues to weigh on their businesses and their local communities. From increased marketing spend and reduced commissions, to winterization grants and free digital ordering tools, we continue to be fully committed to assisting our restaurant partners," said Matt Maloney, Grubhub founder and CEO. "Looking ahead, we’ve been working closely with the Just Eat Takeaway.com team on integration planning and continue to expect the transaction to close in the first half of 2021."

 

Fourth Quarter and Full Year 2020 Highlights

 

The following results reflect the financial performance and key operating metrics of our business for the three and twelve months ended December 31, 2020, as compared to the same period in 2019.

 

Fourth Quarter Financial Highlights

 

 

Revenues: $503.7 million, a 48% year-over-year increase from $341.3 million in the fourth quarter of 2019.

 

Net (Loss): $(67.8) million, or $(0.73) per diluted share, a decrease from $(27.7) million, or $(0.30) per diluted share, in the fourth quarter of 2019.

 

Non-GAAP Adjusted EBITDA: $31.2 million, a 17% year-over-year increase from $26.7 million in the fourth quarter of 2019.

 

Non-GAAP Net (Loss): $(37.9) million, or $(0.41) per diluted share, a decrease from $(4.2) million, or $(0.05) per diluted share, in the fourth quarter of 2019.

 

Fourth Quarter Key Business Metrics Highlights1

 

 

Active Diners: 31.4 million, a 39% year-over-year increase from 22.6 million Active Diners in the fourth quarter of 2019.

 

Daily Average Grubs (DAGs): 658,100 a 31% year-over-year increase from 502,600 DAGs in the fourth quarter of 2019.

 

Gross Food Sales: $2.4 billion, a 52% year-over-year increase from $1.6 billion in the fourth quarter of 2019.

 

1 

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

 


The following information was filed by Grubhub Inc. on Wednesday, February 3, 2021 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)
Classification Of Net Deferred Tax Assets (Liabilities) (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 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)
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)
Merger Agreement
Merger Agreement - Additional Information (Detail)
Non-Vested Restricted Stock Units (Detail)
Organization
Other Accruals
Other Accruals (Tables)
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 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: 0001564590-21-009522
Submitted to the SEC: Fri Feb 26 2021 5:51:25 PM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: Business Services

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