Grubhub Announces ‘A Year In Delivery,’ Uncovering 2016’s Top Delivery Trends

Data Shows How the Year’s Moments Made Their Mark on Food Orders

CHICAGO, Dec. 13, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering company, today announced the launch of A Year In Delivery, a comprehensive analysis of delivery trends throughout 2016. The data uncovers compelling stories about what Grubhub users turned to throughout various cultural moments this year.

Grubhub dove into some of the largest moments from 2016 and how they influenced food orders, highlighting key events such as:

On the day the Chicago Cubs broke the curse, Chicagoans celebrated with orders of hot dogs spiking more than 36 percent.
Throughout Winter Storm Jonas, orders of tomato soup increased by 230 percent.
During President Obama’s final State of the Union, an American cuisine staple proved patriotic spirits were high, with New England clam chowder as a top ordered dish.
“We are always looking to use our data to play back insights about big society moments impacting our users’ eating behaviors,” said Barbara Martin Coppola, CMO, Grubhub. “With ‘A Year in Delivery,’ we’re excited to look back at the interesting and unexpected trends for what was a tumultuous year! Whether it was times of joy, sadness or stress, our data showed that food was always there for our users.”

How We Did it:
Grubhub’s talented team of data analysts looked into how the events of 2016 influenced the food ordering trends of its users.

  • In evaluating orders from January to November 2016, Grubhub analysts compared orders from the same timeframe in 2015 and 2014 to identify current trends
  • When looking at specific moments, analysts evaluated each date and found the most ordered dishes by users compared to the rest of the year.
  • User habits for special instructions and tipping were also evaluated for particular moments.

Data Findings Include:
In addition to analyzing the correlation between cultural moments and delivery trends, Grubhub uncovered the most popular dishes of 2016, anticipated trends for 2017 and what was most popular on the city level in 2016, using the year-over-year analysis methodology.

Five Most Popular Dishes in 2016 (In Comparison to Orders In 2015 and 2014)

  1. Mac and cheese — 373 percent increase in orders
  2. Chicken and waffles — 234 percent increase in orders
  3. Tonkotsu ramen — 223 percent increase in orders
  4. Southern fried chicken orders — 218 percent increase in orders
  5. Oxtail — 161 percent increase in orders

Ten Dishes Expected to Rise In Popularity in 2017 (Based On Orders In 2016)

  1. Ternera — 1781 percent increase in orders throughout 2016
  2. Tamales — 456 percent increase in orders
  3. Poke — 169 percent increase in orders
  4. Spam musubi — 161 percent increase in orders
  5. Takoyaki — 139 percent increase in orders
  6. Sancocho — 126 percent increase in orders
  7. Brisket — 95 percent increase in orders
  8. Tater tots — 85 percent increase in orders
  9. Pho — 78 percent increase in orders
  10. Patacones — 48 percent increase in orders

Most Popular Dishes Ordered by City in 2016 (In Comparison to the Rest of the U.S.)

  • Seattle — Vegetarian samosas saw a 422 percent increase in orders
  • Portland — Panang curry saw a 354 percent increase in orders
  • San Francisco — Carne asada burrito saw a 695 percent increase in orders
  • San Jose — Butter chicken saw a 297 percent increase in orders
  • Los Angeles — Spicy scallop roll saw a 180 percent increase in orders
  • San Diego — Steak tacos saw a 230 percent increase in orders
  • Las Vegas — Garlic naan saw a 398 percent increase in orders
  • Phoenix — Carne asada burrito saw a 943 percent increase in orders
  • Denver — Fried pickles saw a 176 percent increase in orders
  • Dallas — Chicken tortilla soup saw a 207 percent increase in orders
  • Houston — Chile con queso saw a 852 percent increase in orders
  • Austin — Brisket sandwich saw a 228 percent increase in orders
  • Chicago — Tonkotsu ramen saw a 176 percent increase in orders
  • Detroit — Banana pudding saw a 727 percent increase in orders
  • Cleveland — Grilled cheese sandwich saw a 199 percent increase in orders
  • St. Louis — Chicken quesadilla saw a 377 percent increase in orders
  • Atlanta — Sweet potato fries saw a 272 percent increase in orders
  • Miami — Jerk chicken saw a 244 percent increase in orders
  • Philadelphia — Shanghai steamed pork soup dumplings saw a 151 percent increase in orders
  • Washington D.C. — Chana masala saw a 301 percent increase in orders
  • Boston — Kimchi fried rice saw a 142 percent increase in orders
  • New York City — Barbacoa tacos saw a 202 percent increase in orders

To see the full analysis, visit grubhub.com/thecrave/a-year-in-food-delivery.

To find takeout restaurants available in your area, check out grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com. To learn more about Grubhub and its portfolio of brands, please visit media.grubhub.com.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile takeout food-ordering marketplace with the most comprehensive network of restaurant partners and largest active diner base. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

Grubhub Unveils New Features to Enhance Site Usability

Preorder, Map Based Search and Express Reorder allow for an even easier takeout experience

CHICAGO, Nov. 17, 2016 /PRNewswire/ — Grubhub, the nation’s leading takeout marketplace today announced the launch of new features to make its platforms even easier for diners to use: Preorder, Express Reorder and Map Based Search. The features make online and mobile ordering more seamless than ever and are available to all of Grubhub’s diners.

These features will help diners find food from their local favorites quickly, whether they are at home or on the go, and are perfect for any lifestyle: busy parents, working professionals, or diners new to a neighborhood.

“At Grubhub, we are constantly creating new features to meet our diners’ ever-evolving needs,” said Sudev Balakrishnan Senior Vice President of Product, Grubhub. “Today’s trio of new features allow diners to more easily find the food they want from their favorite local restaurants, either instantly or days in advance, to fit their busy schedule.”

A Look at the New Features:

Preorder

  • Allows diners to order up to 120 hours in advance, and to change their order up until the time they receive their order confirmation on the day of delivery
  • Benefits anyone who has a busy schedule; parents and working professionals can plan the time they receive their meal ahead of time
  • Available on all Grubhub and Seamless platforms

Map Based Search

  • Enables diners to filter search results within a map-based view of restaurants
  • Allows diners to see the precise location of each restaurant
  • Provides an easy and relatable user experience, with maps powered by google
  • Available on Grubhub and Seamless desktop and mobile web platforms

Express Reorder

  • Makes it easy for diners on the go to quickly reorder a meal from their order history, in just two clicks
  • Available on Grubhub and Seamless desktop and Android App.
  • iOS in development

The new features are now available for both Grubhub and Seamless diners.

To find takeout restaurants available in your area, check out Grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com.  To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.

About Grubhub

Grubhub (NYSE: GRUB) is the nation’s leading online and mobile takeout food-ordering marketplace with the most comprehensive network of restaurant partners and largest active diner base. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

Photo – http://photos.prnewswire.com/prnh/20161116/440453
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Inclusion and Tolerance in the Workplace

This year’s presidential election was undoubtedly divisive and left many of our employees feeling concerned. In response, I wrote a company-wide email that was intended to advocate for inclusion and tolerance — regardless of political affiliation — during this time of transition for our country.

Some of the statements in my email (please see full text below) have been misconstrued. I want to clarify that I did not ask for anyone to resign if they voted for Trump. I would never make such a demand. To the contrary, the message of the email is that we do not tolerate discriminatory activity or hateful commentary in the workplace, and that we will stand up for our employees.

Grubhub welcomes and accepts employees with all political beliefs, no matter who they voted for in this or any election. We do not discriminate on the basis of someone’s principles, or political or other beliefs.

I deeply respect the right of all citizens to vote for the candidate of their choice. In fact, I offered extra flexibility on Tuesday and encouraged all our employees to go vote. There is a place for all points of view at Grubhub. We value diverse perspectives and believe those perspectives help to create a better product and a better workplace culture.

Grubhub’s leadership team has worked for years to create a culture of support and inclusiveness. I firmly believe that we must bring together different perspectives to continue innovating. We are better, faster and stronger together, and so is America.

Posted by Matt Maloney, Grubhub CEO ********************************************* Full Email Text: SUBJECT: So… that happened… what’s next? I’m still trying to reconcile my own worldview with the overwhelming message that was delivered last night. Clearly there are a lot of people angry and scared as the antithesis of every modern presidential candidate won and will be our next president.  While demeaning, insulting and ridiculing minorities, immigrants and the physically/mentally disabled worked for Mr. Trump, I want to be clear that this behavior – and these views, have no place at Grubhub. Had he worked here, many of his comments would have resulted in his immediate termination.  We have worked for years cultivating a culture of support and inclusiveness. I firmly believe that we must bring together different perspectives to continue innovating – including all genders, races, ethnicities and sexual, cultural or ideological preferences. We are better, faster and stronger together.  Further I absolutely reject the nationalist, anti-immigrant and hateful politics of Donald Trump and will work to shield our community from this movement as best as I can. As we all try to understand what this vote means to us, I want to affirm to anyone on our team that is scared or feels personally exposed, that I and everyone else here at Grubhub will fight for your dignity and your right to make a better life for yourself and your family here in the United States.  If you do not agree with this statement then please reply to this email with your resignation because you have no place here. We do not tolerate hateful attitudes on our team.I want to repeat what Hillary said this morning, that the new administration deserves our open minds and a chance to lead, but never stop believing that the fight for what’s right is worth it.  Stay strong, Matt

Grubhub Reports Record Third Quarter Results

Grubhub generates 44% revenue growth in the third quarter

CHICAGO, Oct. 26, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the nation’s leading takeout marketplace, today announced financial results for the quarter ended Sept. 30, 2016. Order growth accelerated to 26% year-over-year, and the Company posted quarterly revenues of $123.5 million, which is a 44% year-over-year increase from $85.7 million in the third quarter of 2015.”We are pleased with Grubhub’s third quarter growth, as we continue building the most comprehensive marketplace for restaurants and takeout diners. Our product improvements and investment in delivery continue to generate high levels of sustainable growth,” said Matt Maloney, Grubhub CEO. “Grubhub is now delivering for restaurant partners in over 60 markets nationwide, and our growth rate is generally highest in markets where a substantial percentage of orders are being delivered by our drivers.”

Third Quarter 2016 Highlights

The following results reflect the financial performance and key operating metrics of our business for the three months ended Sept. 30, 2016, as compared to the same period in 2015.

Third Quarter Financial Highlights

  • Revenues: $123.5 million, a 44% year-over-year increase from $85.7 million in the third quarter of 2015.
  • Net Income: $13.2 million, or $0.15 per diluted share, a 92% year-over-year increase from $6.9 million, or $0.08 per diluted share, in the third quarter of 2015.
  • Non-GAAP Adjusted EBITDA: $35.5 million, a 65% year-over-year increase from $21.5 million in the third quarter of 2015.
  • Non-GAAP Net Income: $19.9 million, or $0.23 per diluted share, a 73% year-over-year increase from $11.5 million, or $0.13 per diluted share.

Third Quarter Key Business Metrics Highlights

  • Active Diners were 7.69 million, a 19% year-over-year increase from 6.43 million Active Diners in the third quarter of 2015.
  • Daily Average Grubs were 267,500, a 26% year-over-year increase from 211,500 Daily Average Grubs in the third quarter of 2015.
  • Gross Food Sales were $735 million, a 33% year-over-year increase from $554 million in the third quarter of 2015.

“Grubhub had strong topline and bottom line results in the third quarter, generating record net revenues and significant operating leverage,” said Adam DeWitt, Grubhub CFO. “This strong growth, combined with the high incremental margins of our business model, drove adjusted EBITDA per order to $1.44, a 31% increase compared to the third quarter of 2015.”

Fourth Quarter Guidance

Based on information available as of Oct. 26, 2016, the Company is providing the following financial guidance for the fourth quarter of 2016:

Fourth Quarter 2016

(in millions)

Expected Revenue range

$136 – $138

Expected Adjusted EBITDA range

$38 – $40

 

Third Quarter 2016 Financial Results Conference Call: Grubhub will webcast a conference call today at 9 a.m. CDT to discuss the third quarter 2016 financial results. The webcast can be accessed on the Grubhub Investor Relations website at http://investors.grubhub.com, along with the Company’s earnings press release and financial tables. A replay of the webcast will be available at the same website until Nov. 9, 2016.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile takeout food-ordering marketplace with the most comprehensive network of restaurant partners and largest active diner base. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

Use of Forward Looking Statements:
This press release contains forward-looking statements regarding our management’s future expectations, beliefs, intentions, goals, strategies, plans and prospects, including the expected financial performance of Grubhub following its recent acquisitions and investment in delivery. Such statements constitute “forward-looking” statements, which are subject to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and assumptions that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, the matters set forth in the filings that we make with the Securities and Exchange Commission from time to time, including those set forth in the section entitled “Risk Factors” in our Annual Report on Form 10-K filed on Feb. 26, 2016, which are on file with the SEC and are available on the Investor Relations section of our website at http://investors.grubhub.com/. Additional information will be set forth in our Quarterly Report on Form 10-Q that will be filed for the quarter ended Sept. 30, 2016, which should be read in conjunction with these financial results. Please also note that forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to publicly update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information, becomes available in the future.

Use of Non-GAAP Financial Measures
Adjusted EBITDA, non-GAAP net income and non-GAAP net income 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 adjusted to exclude acquisition and restructuring costs, income taxes, depreciation and amortization and stock-based compensation expense. Non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders exclude acquisition and restructuring 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 and restructuring, 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 and non-GAAP net income 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 “Schedule of Non-GAAP Financial Measures Reconciliation” below for a reconciliation of net income to Adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders.

GRUBHUB INC.

STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Three Months Ended

September 30,

Nine Months Ended
September 30,

2016

2015

2016

2015

Revenues

$

123,461

$

85,662

$

355,874

$

261,866

Costs and expenses:

Sales and marketing

26,499

21,443

80,687

66,229

Operations and support

44,346

27,637

120,029

74,941

Technology (exclusive of amortization)

11,006

8,412

31,765

23,980

General and administrative

11,754

10,203

37,501

29,049

Depreciation and amortization

9,089

6,299

25,282

21,377

Total costs and expenses

102,694

73,994

295,264

215,576

Income before provision for income taxes

20,767

11,668

60,610

46,290

Provision for income taxes

7,585

4,801

24,690

19,501

Net income attributable to common stockholders

$

13,182

$

6,867

$

35,920

$

26,789

Net income per share attributable to common stockholders:

Basic

$

0.15

$

0.08

$

0.42

$

0.32

Diluted

$

0.15

$

0.08

$

0.42

$

0.31

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

Basic

85,217

84,583

84,889

83,827

Diluted

86,424

85,867

85,957

85,599

 

KEY OPERATING METRICS

Three Months Ended
September 30,

Nine Months Ended
September 30,

2016

2015

2016

2015

Active Diners (000s)

7,685

6,431

7,685

6,431

Daily Average Grubs

267,500

211,500

268,800

222,000

Gross Food Sales (millions)

$

735.0

$

553.6

$

2,180.4

$

1,711.1

 

GRUBHUB INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

September 30,
2016

December 31,

 2015

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

177,838

$

169,293

Short term investments

118,743

141,448

Accounts receivable, less allowances for doubtful accounts

65,729

42,051

Prepaid expenses

6,264

3,482

Total current assets

368,574

356,274

PROPERTY AND EQUIPMENT:

Property and equipment, net of depreciation and amortization

43,398

19,082

OTHER ASSETS:

Other assets

4,873

3,105

Goodwill

437,009

396,220

Acquired intangible assets, net of amortization

318,431

285,567

Total other assets

760,313

684,892

TOTAL ASSETS

$

1,172,285

$

1,060,248

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Restaurant food liability

$

78,321

$

64,326

Accounts payable

9,532

8,189

Accrued payroll

6,103

4,841

Taxes payable

785

426

Other accruals

16,054

11,830

Total current liabilities

110,795

89,612

LONG TERM LIABILITIES:

Deferred taxes, non-current

105,642

87,584

Other accruals

6,245

5,456

Total long term liabilities

111,887

93,040

STOCKHOLDERS’ EQUITY:

Common stock, $0.0001 par value

9

8

Accumulated other comprehensive loss

(1,641)

(604)

Additional paid-in capital

796,414

759,292

Retained earnings

154,821

118,900

Total Stockholders’ Equity

$

949,603

$

877,596

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

1,172,285

$

1,060,248

 

GRUBHUB INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Nine Months Ended
September 30,

2016

2015

CASH FLOWS FROM OPERATING ACTIVITIES

Net income

$

35,920

$

26,789

Adjustments to reconcile net income to net cash from operating activities:

Depreciation

5,567

3,846

Provision for doubtful accounts

719

565

Deferred taxes

(1,908)

(2,793)

Amortization of intangible assets

19,715

17,531

Stock-based compensation

17,755

9,378

Deferred rent

980

(73)

Other

(292)

553

Change in assets and liabilities, net of the effects of business acquisitions:

Accounts receivable

(22,299)

(6,912)

Prepaid expenses and other assets

(2,874)

(1,456)

Restaurant food liability

11,361

(31,444)

Accounts payable

(4,592)

(633)

Accrued payroll

582

(2,150)

Other accruals

1,799

389

Net cash provided by operating activities

62,433

13,590

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of investments

(187,456)

(154,268)

Proceeds from maturity of investments

210,567

122,856

Capitalized website and development costs

(8,859)

(4,961)

Purchases of property and equipment

(17,083)

(2,866)

Acquisitions of businesses, net of cash acquired

(65,849)

(55,687)

Acquisition of other intangible assets

(250)

Other cash flows from investing activities

(540)

Net cash used in investing activities

(69,470)

(94,926)

CASH FLOWS FROM FINANCING ACTIVITIES

Repurchases of common stock

(14,774)

Proceeds from exercise of stock options

11,814

10,689

Excess tax benefits related to stock-based compensation

22,114

21,987

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

(1,205)

Payments for debt issuance costs

(1,477)

Net cash provided by financing activities

16,472

32,676

Net change in cash and cash equivalents

9,435

(48,660)

Effect of exchange rates on cash

(890)

(108)

Cash and cash equivalents at beginning of year

169,293

201,796

Cash and cash equivalents at end of the period

$

177,838

$

153,028

SUPPLEMENTAL DISCLOSURE OF NON CASH ITEMS

Fair value of common stock issued for acquisitions

$

$

15,980

Cash paid for income taxes

5,757

 

NON-GAAP FINANCIAL MEASURES RECONCILIATION

(in thousands, except per share data)

Three Months Ended
September 30,

Nine Months Ended
September 30,

2016

2015

2016

2015

Net income

$

13,182

$

6,867

$

35,920

$

26,789

Income taxes

7,585

4,801

24,690

19,501

Depreciation and amortization

9,089

6,299

25,282

21,377

EBITDA

29,856

17,967

85,892

67,667

Acquisition and restructuring costs

261

383

1,789

1,086

Stock-based compensation

5,349

3,113

17,755

9,378

Adjusted EBITDA

$

35,466

$

21,463

$

105,436

$

78,131

Three Months Ended
September 30,

Nine Months Ended
September 30,

2016

2015

2016

2015

Net income

$

13,182

$

6,867

$

35,920

$

26,789

Stock-based compensation

5,349

3,113

17,755

9,378

Amortization of acquired intangible assets

5,385

4,674

16,070

13,462

Accelerated write-down of Seamless technology platform

1,897

Acquisition and restructuring costs

261

383

1,789

1,086

Income tax adjustments

(4,243)

(3,538)

(14,780)

(11,181)

Non-GAAP net income

$

19,934

$

11,499

$

56,754

$

41,431

Weighted-average diluted shares used to compute net income per share attributable to common stockholders

86,424

85,867

85,957

85,599

Non-GAAP net income per diluted share attributable to common stockholders

$

0.23

$

0.13

$

0.66

$

0.48

 

Guidance

Three Months Ended
December 31, 2016

Low

High

(in millions)

Net income

$

14

$

15

Income taxes

9

10

Depreciation and amortization

9

9

EBITDA

32

34

Acquisition and restructuring costs

Stock-based compensation

6

6

Adjusted EBITDA

$

38

$

40

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Grubhub Adds Linda Johnson Rice and David Habiger to its Board of Directors

CHICAGO, Oct. 18, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery platform, today announced two additions to its Board of Directors:   Linda Johnson Rice, Chairman of Johnson Publishing Company and Chairman Emeritus of EBONY Media Holdings, and David Habiger, a successful entrepreneur, former public company CEO and experienced corporate Director.

“We are excited to welcome Linda and David to the Board of Directors. Grubhub shareholders will benefit tremendously from their incredible breadth and depth of experience as the company continues to grow at increasingly large scale,” said Matt Maloney, CEO of Grubhub. “The unique skill set of each brings a unique and much-valued combination of public company operating knowledge and aggressive entrepreneurial spirit to the team.”

Linda Johnson Rice is Chairman of Johnson Publishing Company (JPC) and Chairman Emeritus of EBONY Media Holdings, and serves on the Board of Directors of Omnicom Group. At JPC, Rice demonstrated her innovative thinking and ability to drive growth by increasing circulation through new types of outreach, extending the cosmetics business internationally and moving into the development of TV specials and documentaries. Rice is also a not-for-profit organization leader, and has served on the corporate boards of a number of major companies.

David Habiger was the interim CEO of Textura Corporation and a member of the company’s Board of Directors, prior to its recent sale to Oracle, and is a venture partner with Pritzker Group. Prior to these roles, Habiger held the CEO position at NDS Group Ltd. — prior to its sale to Cisco Systems — and at Sonic Solutions. He demonstrated his skill in leading companies through all stages of development by guiding Sonic through an IPO and to its leadership position as a leading cloud-based provider of premium movies and TV shows. He also serves on the boards of a number of technology companies.

Rice and Habiger are joining Grubhub’s Board of Directors concurrent with the departure of Justin Sadrian, Managing Director at Warburg Pincus, who served on the board of Grubhub and its predecessor, Seamless, for more than five years, since Aramark spun Seamless out as a separate entity.

“We would like to thank Justin for his many years of service to Grubhub as a director and for his wisdom and guidance, which was invaluable as we navigated our merger, IPO and our first two and a half years as a public company.  During his tenure, we’ve transformed the takeout industry, growing from less than $10 million to more than $450 million in annual revenues,” said Maloney.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/grubhub-adds-linda-johnson-rice-and-david-habiger-to-its-board-of-directors-300347003.html

Grubhub To Announce Third Quarter 2016 Financial Results On Oct. 26, 2016

CHICAGO, Oct. 10, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery platform, today announced that it will host a conference call to discuss its third quarter financial results on Wednesday, Oct. 26, 2016, at 9 a.m. Central Daylight Time, following the release of the Company’s financial results. CEO Matt Maloney and CFO Adam DeWitt will host the webcast.

The live webcast of the conference call will be available on the investor relations section of the Grubhub website at http://investors.grubhub.com/. Following completion of the call, a recorded replay of the webcast will be available on the website.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

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Grubhub Introduces Gift Cards

New offering makes it easier than ever to share the gift of food with friends and family

CHICAGO, Oct. 6, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, today announced the launch of Gift Cards. Now, people can buy e-gift cards by visiting the Grubhub or Seamless gift card purchase pages.

“Grubhub works hard to bring joy to the moments that matter to our diners,” said Barbara Martin Coppola, CMO, Grubhub. “We are excited that Gift Cards will offer an easy way for people to share the joy of mealtime with loved ones near and far, during the holiday season and other important moments in their lives”

How it Works:

  • Gift cards can be purchased online by visiting the Grubhub or Seamless gift card pages
  • Gift cards are available in e-card format and can be sent by email or printed at home
  • Customers then select from a wide variety of designs for various occasions or upload their own video or image. Additionally, customers will be able to personalize their Gift Card with a special message
  • Customers can choose a gift card for any dollar amount between $10-$1,000
  • Customers select the date they would like the gift card to be delivered
  • The Gift Cards do not expire can be redeemed by using a code at checkout

The new offering is a great gift for loved ones this holiday season, and available to use on all Grubhub and Seamless online and mobile platforms.

To find takeout restaurants available in your area, check out Grubhub.com. If you are interested in becoming part of the Grubhub Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Grubhub, check out get.grubhub.com. To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.

About Grubhub

Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

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Seamless Unveils Turnkey Delivery Service in Manhattan

New York City’s Hometown Food Ordering Platform Expands Service to Deliver for the Greatest Variety of Local Favorites with Incredible Speed

NEW YORK, Aug. 17, 2016 /PRNewswire/ — Seamless, the iconic New York City food ordering and delivery platform, has launched its turnkey delivery service in Manhattan. Diners are benefiting from the ability of the vast, reliable driver network to deliver food from local favorites and top-rated Manhattan restaurants in under 30 minutes. Local restaurants are reaping the benefits of reaching more Seamless diners – the largest network of hungry diners in Manhattan. By outsourcing their restaurants’ delivery needs to a reliable service with such a captive audience, restaurants are experiencing a significant increase in order volume and gross food sales.In fact, L.E.S Kitchen, known for delicious comfort fare, has seen a 35 percent increase in orders over the past two months.

“Working with Seamless’ delivery service has been a game changer,” said Henry Wong, Owner of L.E.S Kitchen, “The service has been incredibly convenient to use and has made a significant impact on our order volume. It’s been exciting to share our menu of mouthwatering sandwiches with more Seamless diners.”

The new turnkey service allows Seamless to deliver for some of Manhattan’s hottest restaurants, offering diners great options at a lower overall cost.

“Seamless was started in Manhattan and has become synonymous with how New York eats,” said Stan Chia, Senior Vice President of Operations at Seamless and Grubhub. “As New York City’s hometown service, we wanted to deliver even more local favorites to our diners while providing quick delivery times and transparent pricing. We’re proud we’ve been able to do that for our diners while providing even more value to our restaurant partners.”

Seamless’ delivery service is working with a number of local favorites, including:

“We’re passionate about making our famous, one-of-a-kind menu items that keep customers from New York and beyond coming back for more,” said Ivan Orkin, Chef/Owner of Ivan Ramen. “I’ve been working with my team to perfect our takeout to assure an experience as close to dining in the restaurant as possible.  With Seamless, we’re able to tap into their convenient delivery service to reach and obtain even more customers, so we can focus on what matters most, noodles!”

The Seamless online and mobile ordering platform connects New York City diners with more than 11,000 restaurants in the Greater New York area, with thousands of pickup and delivery options in Manhattan.

Seamless delivers tremendous benefits to restaurants and diners.

Diners benefit from:

  • Choice: We connect diners with the nation’s largest restaurant network, which includes more than 45,000 of the best restaurants across the country.
  • No Mark-Ups: We do not pad menu prices. Diners can rest assured that they are paying the same prices as if they ordered directly from the restaurant and all fees are clearly presented.
  • Low Fees: We offer industry low delivery fees nationwide.
  • Transparency: We empower diners with the ability to customize and control each order to meet their dietary needs.
  • Service: We take care of our diners; every order is backed by our diner-focused, 24/7 Care team.

Restaurants benefit from:

  • More Orders: We drive significant order volume. Restaurants receive an average of 30 percent more takeout orders during their first year on the platform.
  • Broadest Reach: We connect restaurants with our industry-leading network of approximately 7.4 million diners.
  • High ROI: We enable restaurants to participate on our platform with low risk and no up-front cost.
  • Efficiency: We drive efficiency for restaurant partners; ordering via Seamless is 50 percent more efficient than ordering via phone.

To find takeout restaurants available in your area, check out Seamless.com. If you are interested in becoming part of the Seamless Delivery team, please visit driver.grubhub.com. To find out how your restaurant can join Seamless or Grubhub, check out get.grubhub.com.  To learn more about Grubhub and its portfolio of brands, please visit http://media.grubhub.com.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

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Grubhub Reports Record Second Quarter Results

Grubhub generates 37% revenue growth in the second quarter

CHICAGO, July 28, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the leading takeout marketplace, today announced financial results for the quarter ended June 30, 2016.

“In our strong second quarter, Grubhub continued to build the most comprehensive marketplace connecting restaurants and takeout diners. We posted record net revenues and our best order growth in a year,” said Matt Maloney, CEO.  “Grubhub also generated a record number of orders in Q2 despite typical seasonal headwinds, as total order growth accelerated to 23% year-over-year.”

Second Quarter 2016 Highlights

The following results reflect the financial performance and key operating metrics of our business for the three months ended June 30, 2016 as compared to the same period in 2015.

Second Quarter Financial Highlights

  • Revenues: $120.2 million, a 37% year-over-year increase from $88.0 million in the second quarter of 2015.
  • Non-GAAP Adjusted EBITDA: $37.6 million, a 32% year-over-year increase from $28.4 million in the second quarter of 2015.
  • Net Income: $12.8 million, or $0.15 per diluted share, a 37% year-over-year increase from $9.4 million, or $0.11 per diluted share, in the second quarter of 2015.
  • Non-GAAP Net Income: $19.6 million, or $0.23 per diluted share, a 31% year-over-year increase from $15.0 million, or $0.17 per diluted share.

Second Quarter Key Business Metrics Highlights

  • Active Diners were 7.35 million, a 24% year-over-year increase from 5.93 million Active Diners in the second quarter of 2015.
  • Daily Average Grubs were 271,100, a 23% year-over-year increase from 220,100 Daily Average Grubs in the second quarter of 2015.
  • Gross Food Sales were $733 million, a 29% year-over-year increase from $568 million in the second quarter of 2015.

“Product improvements, our delivery initiative and an updated brand drove better diner growth and significantly higher engagement in the second quarter,” noted Maloney.  “Demonstrating the powerful economics of scale in our business, we achieved an adjusted EBITDA margin of 31%, just under the levels in the first and second quarters of 2015 before we began investing meaningfully in our own delivery capabilities.”

Third Quarter and Full Year 2016 Guidance

Based on information available as of July 28th, 2016, the Company is providing the following financial guidance for the third quarter and full year of 2016:

Third Quarter 2016

Full Year 2016

(in millions)

Expected Revenue range

$116 – $119

$480 – $488

Expected Adjusted EBITDA range

$30 – $32

$136 – $142

Second Quarter 2016 Financial Results Conference Call: Grubhub will webcast a conference call today at 9 a.m. CT to discuss the second quarter 2016 financial results. The webcast can be accessed on the Grubhub Investor Relations website at http://investors.grubhub.com, along with the Company’s earnings press release and financial tables. A replay of the webcast will be available at the same website until August 11, 2016.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the Company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 45,000 restaurant partners in over 1,100 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, LAbite, Restaurants on the Run, DiningIn and Delivered Dish.

Use of Forward Looking Statements:
This press release contains forward-looking statements regarding our management’s future expectations, beliefs, intentions, goals, strategies, plans and prospects, including the expected financial performance of Grubhub following its recent acquisitions and investment in delivery. Such statements constitute “forward-looking” statements, which are subject to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and assumptions that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, the matters set forth in the filings that we make with the Securities and Exchange Commission from time to time, including those set forth in the section entitled “Risk Factors” in our Annual Report on Form 10-K filed on February 26, 2016, which are on file with the SEC and are available on the Investor Relations section of our website at http://investors.grubhub.com/. Additional information will be set forth in our Quarterly Report on Form 10-Q that will be filed for the quarter ended June 30, 2016, which should be read in conjunction with these financial results. Please also note that forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to publicly update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information, becomes available in the future.

Use of Non-GAAP Financial Measures
Adjusted EBITDA, non-GAAP net income and non-GAAP net income 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 adjusted to exclude acquisition and restructuring costs, income taxes, depreciation and amortization and stock-based compensation expense. Non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders exclude acquisition and restructuring 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 and restructuring, 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 and non-GAAP net income 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 “Schedule of Non-GAAP Financial Measures Reconciliation” below for a reconciliation of net income to Adjusted EBITDA, non-GAAP net income and non-GAAP net income per diluted share attributable to common stockholders.

GRUBHUB INC.

STATEMENTS OF OPERATIONS
(in thousands, except per share data)

Three Months Ended

June 30,

Six Months Ended
June 30,

2016

2015

2016

2015

Revenues

$

120,173

$

87,955

$

232,413

$

176,204

Costs and expenses:

Sales and marketing

25,355

20,679

54,188

44,786

Operations and support

40,696

24,603

75,683

47,304

Technology (exclusive of amortization)

10,567

7,902

20,759

15,568

General and administrative

12,158

9,745

25,747

18,846

Depreciation and amortization

8,885

8,829

16,193

15,078

Total costs and expenses

97,661

71,758

192,570

141,582

Income before provision for income taxes

22,512

16,197

39,843

34,622

Provision for income taxes

9,707

6,845

17,105

14,700

Net income attributable to common stockholders

$

12,805

$

9,352

$

22,738

$

19,922

Net income per share attributable to common stockholders:

Basic

$

0.15

$

0.11

$

0.27

$

0.24

Diluted

$

0.15

$

0.11

$

0.27

$

0.23

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

Basic

84,741

84,116

84,725

83,449

Diluted

85,749

85,833

85,724

85,465

 

KEY OPERATING METRICS

Three Months Ended
June 30,

Six Months Ended
June 30,

2016

2015

2016

2015

Active Diners (000s)

7,352

5,932

7,352

5,932

Daily Average Grubs

271,100

220,100

269,500

227,300

Gross Food Sales (millions)

$

732.6

$

567.6

$

1,445.4

$

1,157.5

 

GRUBHUB INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

June 30, 2016

December 31, 2015

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

132,924

$

169,293

Short term investments

136,883

141,448

Accounts receivable, less allowances for doubtful accounts

57,087

42,051

Prepaid expenses

6,602

3,482

Total current assets

333,496

356,274

PROPERTY AND EQUIPMENT:

Property and equipment, net of depreciation and amortization

32,320

19,082

OTHER ASSETS:

Other assets

5,218

3,105

Goodwill

437,009

396,220

Acquired intangible assets, net of amortization

323,816

285,567

Total other assets

766,043

684,892

TOTAL ASSETS

$

1,131,859

$

1,060,248

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Restaurant food liability

$

71,276

$

64,326

Accounts payable

11,282

8,189

Accrued payroll

6,118

4,841

Taxes payable

1,020

426

Other accruals

14,267

11,830

Total current liabilities

103,963

89,612

LONG TERM LIABILITIES:

Deferred taxes, non-current

103,376

87,584

Other accruals

5,818

5,456

Total long term liabilities

109,194

93,040

STOCKHOLDERS’ EQUITY:

Common stock, $0.0001 par value

8

8

Accumulated other comprehensive loss

(1,396)

(604)

Additional paid-in capital

778,452

759,292

Retained earnings

141,638

118,900

Total Stockholders’ Equity

$

918,702

$

877,596

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

1,131,859

$

1,060,248

 

GRUBHUB INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Six Months Ended June 30,

2016

2015

CASH FLOWS FROM OPERATING ACTIVITIES

Net income

$

22,738

$

19,922

Adjustments to reconcile net income to net cash from operating activities:

Depreciation

3,327

2,721

Provision for doubtful accounts

420

260

Deferred taxes

(4,174)

35

Amortization of intangible assets

12,866

12,357

Stock-based compensation

12,406

6,265

Other

316

417

Change in assets and liabilities, net of the effects of business acquisitions:

Accounts receivable

(11,722)

(8,460)

Prepaid expenses and other assets

(3,315)

(485)

Restaurant food liability

4,278

3,052

Accounts payable

(858)

(3,957)

Accrued payroll

595

(3,000)

Other accruals

316

1,417

Net cash provided by operating activities

37,193

30,544

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of investments

(123,723)

(65,645)

Proceeds from maturity of investments

128,490

64,618

Capitalized website and development costs

(5,380)

(3,104)

Purchases of property and equipment

(8,362)

(1,201)

Acquisitions of businesses, net of cash acquired

(67,528)

(55,687)

Acquisition of other intangible assets

(250)

Other cash flows from investing activities

(576)

Net cash used in investing activities

(77,329)

(61,019)

CASH FLOWS FROM FINANCING ACTIVITIES

Repurchases of common stock

(14,774)

Proceeds from exercise of stock options

2,878

9,777

Excess tax benefits related to stock-based compensation

18,767

14,421

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

(938)

Payments for debt issuance costs

(1,477)

Net cash provided by financing activities

4,456

24,198

Net change in cash and cash equivalents

(35,680)

(6,277)

Effect of exchange rates on cash

(689)

76

Cash and cash equivalents at beginning of year

169,293

201,796

Cash and cash equivalents at end of the period

$

132,924

$

195,595

SUPPLEMENTAL DISCLOSURE OF NON CASH ITEMS

Fair value of common stock issued for acquisitions

$

$

15,980

Cash paid for income taxes

3,250

 

NON-GAAP FINANCIAL MEASURES RECONCILIATION

(in thousands, except per share data)

Three Months Ended
June 30,

Six Months Ended
June 30,

2016

2015

2016

2015

Net income

$

12,805

$

9,352

$

22,738

$

19,922

Income taxes

9,707

6,845

17,105

14,700

Depreciation and amortization

8,885

8,829

16,193

15,078

EBITDA

31,397

25,026

56,036

49,700

Acquisition and restructuring costs

697

134

1,528

703

Stock-based compensation

5,505

3,258

12,406

6,265

Adjusted EBITDA

$

37,599

$

28,418

$

69,970

$

56,668

Three Months Ended
June 30,

Six Months Ended
June 30,

2016

2015

2016

2015

Net income

$

12,805

$

9,352

$

22,738

$

19,922

Stock-based compensation

5,505

3,258

12,406

6,265

Amortization of acquired intangible assets

5,640

4,673

10,685

8,788

Accelerated write-down of Seamless technology platform

1,897

1,897

Acquisition and restructuring costs

697

134

1,528

703

Income tax adjustments

(5,068)

(4,314)

(10,537)

(7,644)

Non-GAAP net income

$

19,579

$

15,000

$

36,820

$

29,931

Weighted-average diluted shares used to compute net income per share attributable to common stockholders

85,749

85,833

85,724

85,465

Non-GAAP net income per diluted share attributable to common stockholders

$

0.23

$

0.17

$

0.43

$

0.35

Guidance

Three Months Ended

September 30, 2016

Year Ended

December 31, 2016

Low

High

Low

High

(in millions)

Net income

$

8

$

9

$

42

$

46

Income taxes

6

7

32

34

Depreciation and amortization

10

10

37

37

EBITDA

24

26

111

117

Acquisition and restructuring costs

Stock-based compensation

6

6

25

25

Adjusted EBITDA

$

30

$

32

$

136

$

142

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Grubhub To Announce Second Quarter 2016 Financial Results On July 28, 2016

CHICAGO, July 13, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery platform, today announced that it will host a conference call to discuss its second quarter financial results on Thursday, July 28th, 2016, at 9:00 a.m. Central Time, following the release of the Company’s financial results. Matt Maloney, CEO, and Adam DeWitt, CFO will host the webcast.

The live webcast of the conference call will be available on the investor relations section of the Grubhub website at http://investors.grubhub.com/. Following completion of the call, a recorded replay of the webcast will be available on the website.

About Grubhub
Grubhub (NYSE: GRUB) is the nation’s leading online and mobile food-ordering company. Dedicated to moving eating forward and connecting diners with the food they love from their favorite local restaurants, the company’s platforms and services strive to elevate food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub is proud to work with more than 44,000 restaurant partners in over 1,000 U.S. cities and London. The Grubhub portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn, Delivered Dish and LAbite.

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