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Grubhub Inc. (GRUB) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

SEC Filings

Grubhub Inc.

CIK: 1594109

Exhibit 99.1

 

 

GRUBHUB REPORTS first QUARTER 2021 RESULTS

 

Grubhub generates 52% revenue growth in the first quarter

 

CHICAGO, April 28, 2021 – Grubhub Inc. (NYSE: GRUB), a leading online and mobile food-ordering and delivery marketplace, today announced financial results for the first quarter ended March 31, 2021 and also posted a letter to shareholders on its investor relations website. For the first quarter, the Company reported revenues of $551 million, which is a 52% year-over-year increase from $363 million in the same period last year. Gross Food Sales grew 60% year-over-year to $2.6 billion, up from $1.6 billion in the first quarter of 2020.

 

"We are proud of our continued role in helping restaurants grow their businesses and supporting the communities where they operate. Our team continued its strong execution in the first quarter – easily hitting records for all of our key business metrics," said Matt Maloney, Grubhub founder and CEO. "With yesterday’s public filing of the registration statement and preliminary proxy statement with the SEC and the Grubhub special stockholder meeting expected to take place in June, we are looking forward to closing the transaction in the coming months and beginning our next chapter as part of the Just Eat Takeaway.com family."

 

First Quarter 2021 Highlights

 

The following results reflect the financial performance and key operating metrics of our business for the three months ended March 31, 2021, as compared to the same period in 2020.

 

First Quarter Financial Highlights

 

 

Revenues: $550.6 million, a 52% year-over-year increase from $363.0 million in the first quarter of 2020.

 

Net (Loss): $(75.5) million, or $(0.81) per diluted share, a decrease from $(33.4) million, or $(0.36) per diluted share, in the first quarter of 2020.

 

Non-GAAP Adjusted EBITDA: $(9.3) million, a decrease from $21.0 million in the first quarter of 2020.

 

Non-GAAP Net (Loss): $(52.5) million, or $(0.56) per diluted share, a decrease from $(37) thousand, or $(0.00) per diluted share, in the first quarter of 2020.

 

First Quarter Key Business Metrics Highlights1

 

 

Active Diners: 33.0 million, a 38% year-over-year increase from 23.9 million Active Diners in the first quarter of 2020.

 

Daily Average Grubs (DAGs): 745,700, a 44% year-over-year increase from 516,300 DAGs in the first quarter of 2020.

 

Gross Food Sales: $2.6 billion, a 60% year-over-year increase from $1.6 billion in the first quarter of 2020.

 

 

1 

Key Business Metrics are defined on page 29 of our Annual Report on Form 10-K filed on March 1, 2021.

 


The following information was filed by Grubhub Inc. on Wednesday, April 28, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Anti-Dilutive Securities Excluded From Calculation Of Diluted Net Loss Per Share (Detail)
Assumptions Used To Determine Fair Value Of Stock Options Granted (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail1)
Components Of Acquired Intangible Assets (Detail)
Components Of Property And Equipment (Detail)
Computation Of Basic And Diluted Net Loss 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)
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)
Merger Agreement
Merger Agreement - Additional Information (Detail)
Non-Vested Restricted Stock Units (Detail)
Organization
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (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)
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 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: 0001564590-21-024981
Submitted to the SEC: Thu May 06 2021 4:15:59 PM EST
Accepted by the SEC: Thu May 06 2021
Period: Wednesday, March 31, 2021
Industry: Business Services

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