News Type: Newsroom Archive

Grubhub Expands Turnkey Delivery Service to Denver

Industry Leader to Provide Delivery Capabilities to Restaurants Without In-House Delivery Staff

CHICAGO, March 2, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that it has expanded its turnkey delivery service to Denver. Through this service and with Grubhub’s recent acquisition of local delivery company Delivered Dish, restaurants in Denver, many of which did not previously offer delivery, can now expand their customer base and grow their order volume by utilizing Grubhub’s on-the-ground network of delivery drivers. With more restaurants offering their menu for delivery, the service also enables Grubhub to bring a broader set of restaurant choices to diners.

Grubhub’s online ordering platform has been available in Denver since 2010 and connects Denver diners with nearly 600 local restaurants. With the addition of Grubhub’s turnkey delivery service, Denver diners now have a growing number of new delivery options to choose from. Local favorites using this delivery service include:

“Thanks to a growing community of innovative chefs, Denver has become a culinary hot spot,” said Stan Chia, SVP of Operations, Grubhub.  “With the addition of local Delivered Dish restaurants to our network, we’re able to connect diners with even more of these great restaurants, no matter what they are craving.  For restaurants, we’re thrilled to provide tools and technology that will help them reach new customers, and therefore bring them more orders.”

In December 2015, Grubhub acquired Delivered Dish, a local restaurant delivery service designed to serve restaurants that don’t operate their own delivery service. By combining Delivered Dish’s local market expertise and Grubhub’s national scale, Grubhub has been able to accelerate local growth while serving more Denver diners.

“We have always enjoyed working with Delivered Dish and we were pleased to see an uptick in orders since joining the Grubhub network,” said Nick O’Sullivan, co-owner of Brothers BBQ. “Having a reliable partner, such as Grubhub, to execute deliveries for us is extremely valuable. It’s clear that they care as much about their business as we do about ours, and this has created a great partnership.”

Grubhub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when Grubhub handles the delivery, restaurants can focus on making great food. The efficiency of Grubhub’s delivery service, combined with great food, creates a win-win for local restaurants and diners.

“Through Grubhub’s delivery service, I’ve been able to reach a whole new set of customers,” said Joe Jaramillo, owner of The Copper Pot. “It’s been a great way to increase visibility for our restaurant and allow more Denver diners to enjoy our food from the comfort of their home.”

Grubhub’s turnkey delivery service launched in June of 2014 and has since expanded to nearly 50 markets across the country. Recently, Grubhub announced relationships with a number of national chain restaurants, including California Pizza Kitchen, Bucca di Beppo, Veggie Grill and Panda Express.

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 40,000 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 and Delivered Dish.

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SOURCE Grubhub

Grubhub Expands its Delivery Service to Portland

Food Delivery Service Brings Local Favorites to Hungry Diners’ Doorsteps

CHICAGO, Feb. 18, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that its delivery service is available in Portland. Through Grubhub’s delivery service and Delivered Dish, a local delivery service that joined the Grubhub portfolio of brands in late 2015, restaurants in Portland area can now expand their customer base and grow their order volume by adding delivery. It will also bring new delivery options to Grubhub diners.

Grubhub currently provides delivery services for more than 55 restaurants in Portland, a number that will continue to grow, including local favorites such as:

“Portland is home to an eclectic and vibrant food scene,” said Stan Chia, senior vice president of operations, Grubhub. “With so many unique local tastes, we’re thrilled to deliver more of these flavors to our Portland diners while providing restaurants with the tools and service to expand their customer base.”

In December 2015, Grubhub acquired Delivered Dish, a Portland-based restaurant delivery service designed to serve restaurants that don’t operate their own delivery service. By combining Delivered Dish’s local market expertise and Grubhub’s national scale, Grubhub has been able to accelerate local growth while serving more Portland diners.

“We strive to make delicious food that attracts new customers and keeps them coming back,” said Jeff Extine, manager of 24th and Meatballs. “With Grubhub delivery, we are able to reach new and old customers so they can easily enjoy our meatballs in the comfort of their own home.”

Grubhub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when Grubhub handles the delivery, restaurants can focus on making great food. The efficiency of Grubhub’s delivery service, combined with great food, creates a win-win for local restaurants.

Grubhub’s delivery service launched in June of 2014 and has since expanded to nearly 50 markets across the country.  Recently, Grubhub announced relationships with a number of national chain restaurants, including California Pizza Kitchen, Buca di Beppo, Veggie Grill and Panda Express.

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 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 40,000 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 and Delivered Dish.

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Grubhub Expands Delivery Service to Southeast Florida

Food Delivery Service Brings Local Favorites to Hungry Diners’ Doorsteps

CHICAGO, Feb. 11, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that its delivery service is available in southeast Florida. Through Grubhub’s delivery service, area restaurants, including those that did not previously offer delivery, can now expand their customer base and grow their order volume. It will also bring new delivery options to Grubhub diners. Grubhub currently provides delivery services for more than 55 restaurants in southeast Florida, a number that will continue to grow, including local favorites such as:

“We’re excited to bring even more choices to our southeast Florida diners,” said Stan Chia, senior vice president of operations, Grubhub. “From ethnic cuisines to family-friendly options, we are thrilled to help these restaurants connect with more local diners.”

Grubhub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when Grubhub handles the delivery, restaurants can focus on making great food. The efficiency of Grubhub’s delivery service, combined with great food, creates a win-win for local restaurants.

“We’ve found that Grubhub offers a flawless delivery system,” said Rocco Carulli, owner of R House. “We’re able to complete the orders and have them sent out without interruption to our restaurant, while also providing service to more customers.”

Grubhub’s delivery service launched in June of 2014 and has since expanded to nearly 50 markets across the country.  Recently, Grubhub announced relationships with a number of national chain restaurants, including California Pizza Kitchen, Bucca di Beppo, Veggie Grill and Panda Express.

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 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 40,000 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 and Delivered Dish.

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Grubhub and Match Team Up to Show Why Sushi is the Best First-Date Cuisine

Data from Grubhub and Match reveals that ordering sushi on a first date increases the odds of a second date by 170 percent, adventurous sushi orders spike on Valentine’s Day.

CHICAGO, Feb. 9, 2016 /PRNewswire/ — Grubhub, the nation’s leading online and mobile food-ordering and delivery company, and Match, the world’s largest relationship company, have teamed up to play food Cupid. Their data reveals sushi as the best cuisine choice for people looking to secure a second date and that Americans make more adventurous sushi choices on Valentine’s Day. Additionally, data from Grubhub provides an in-depth look into America’s Valentine’s Day sushi ordering habits.

Prospective couples learn a great deal about one another through their menu ordering habits and restaurant recommendations during the early stages of dating. With this in mind, it made perfect sense for the leaders in the dating and food delivery categories to partner and point Cupid’s arrow in the right culinary direction this Valentine’s Day.

Single Americans should start practicing their chopsticks skills because Match’s sixth annual Singles in America survey reveals that ordering sushi on a first date increases the odds of a second date by an astounding 170 percent. After reviewing Grubhub’s food-order database, it became clear that Americans’ Valentine’s Day sushi meals are filled with more adventurous orders and fish choices than other days of the year.

“Food is a universal experience that brings people together and often elicits significant emotions,” said Sandra Glading, Grubhub spokesperson. “So it’s not surprising that choosing a particular food on a first date can impact someone’s chance for a second date – particularly when that food is such an easily shareable cuisine. We had a lot of fun looking at this data and are hoping it might even help romantic diners secure a second date!”

Ordering off of a sushi menu can be intimidating, especially when trying to impress. Grubhub has compiled key insights from past Valentine’s Day sushi orders to take some of the guesswork away from planning the perfect, palate-pleasing date night menu. The below findings, using data from 2015, reflect the preferences of over 40,000 restaurants and 1,000 U.S. cities.

Which Sushi Rolls Reign Supreme?

One popular Valentine’s Day sushi order is the unagi roll, made with broiled freshwater eel. Unagi is 127 percent more likely to be ordered on Valentine’s Day than any other day of the year. The garlic roll also enjoys a 90 percent spike on Valentine’s Day, in spite of concerns over kiss-worthy breath.

Americans like to experience more unique, exotic flavors on February 14. Below, Grubhub has identified some of the boldest sushi rolls found in Valentine’s Day sushi orders, including:

  • Dragon rolls (101 percent*)
  • Red dragon rolls (91 percent)
  • Caterpillar rolls (88 percent)
  • Rock and rolls (74 percent)
  • Cheese steak rolls (72 percent)
  • Godzilla rolls (61 percent)
  • Volcano rolls (56 percent)

*Percentage indicates increase in order volume on Valentine’s Day compared to 2015’s average order volume.

He Said, She Said:
Men and women have differing opinions when it comes to selecting sushi rolls for a meal. For example, data shows that women tend to be more veggie-centric than their male counterparts:

  • Women are 214 percent more likely than men to order the garden roll and 153 percent more likely to order the spicy crab roll on Valentine’s Day
  • Men play it safe with their sushi orders during a romantic Valentine’s Day meal, ordering spicy yellow tail and salmon skin rolls 71 and 63 percent more often than women, respectively
  • Cucumber avocado rolls are ordered by women 138 percent more often than men year-round
  • Mango avocado rolls are ordered by women 133 percent more often than men on a typical day

Regional Sushi Ordering Preferences:
No matter where you happen to live in the U.S., Grubhub identified the highest rated rolls and ordering preferences in a variety of key metro areas to ensure you can order for success.

  • Bostonians have some unique sushi preferences compared to other cities:
    • Hawaii rolls and caterpillar rolls are six times more commonly found in Boston orders than anywhere else in the country
    • Fire rolls and Alaskan rolls are five times more commonly found in Boston orders than anywhere else in the country
  • Chicagoans have more exotic preferences than other US cities:
    • The negi hamachi roll is ordered 25 times more frequently than anywhere else in the country
    • Chicago sushi-lovers order ebi tempura rolls 19 times more frequently than counterparts in other American cities
  • Denver eaters are 14 times more likely to include a mango roll in their sushi order than other Americans
  • On the west coast, Angelenos are 25 times more likely to include salmon sushi in their sushi orders
  • Miami locals are seven times more likely to order a salmon tempura roll than the rest of the country
  • New Yorkers have varied sushi cravings, both throughout the year and when Cupid is nearby:
    • Chicken tempura rolls and spinach rolls are 116 percent and 109 percent, respectively, more likely to appear on Valentine’s Day than on any other day of the year
    • Spicy tuna crunch rolls are 31 times more popular than anywhere else in the country
    • Peanut avocado rolls are 12 times more likely to be included in a sushi order than in other cities
  • What gets Philadelphians in the mood for love? Their own city!
    • Philadelphia rolls are 92 percent more likely to be ordered on Valentine’s Day than any other day of the year
  • San Franciscans tend to be trailblazers on the sushi ordering scene:
    • The lion king roll—which is essentially a California roll wrapped with salmon, baked, and topped off with a special house sauce—is ordered 144 times more often than the rest of the country
    • Salmon sashimi is ordered 24 times more often than anywhere else in the country
  • A sushi order in Washington D.C. is 35 times more likely to include a spicy crunchy shrimp roll than orders placed anywhere else in the country

To help spread the love, Grubhub and Match are encouraging couples to #OrderInToWin by snapping a photo of their “takeout date” for a chance to win $100 toward Grubhub, just in time for Valentine’s Day. All you have to do is: upload a photo of your takeout order for two, tag @Match and @GrubHub on Instagram and use the hashtag #OrderInToWin from now until Thursday, February 11 for a chance to qualify.

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 40,000 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 and Delivered Dish.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/grubhub-and-match-team-up-to-show-why-sushi-is-the-best-first-date-cuisine-300217303.html

Grubhub Reports Fourth Quarter And Full Year 2015 Results

Grubhub generates 36% revenue growth in the fourth quarter

CHICAGO, Feb. 4, 2016 /PRNewswire/ — Grubhub Inc. (NYSE: GRUB), the leading takeout marketplace, today announced financial results for the quarter and year ended December 31, 2015.

“The fourth quarter capped off a strong year for Grubhub.  We generated a record $643 million in gross food sales during the quarter and $2.4 billion during the year,” said Matt Maloney, CEO.  “The growth in our delivery network has greatly expanded our potential universe of restaurant partners, helping us work with restaurants that don’t currently offer delivery, but want access to our 6.7 million active diners.  As a result, our restaurant network is broader and deeper than ever, with over 40,000 partners in more than 1,000 cities.”

Fourth Quarter and Full Year 2015 Highlights

The following results reflect the financial performance and key operating metrics of our business for the three months and year ended December 31, 2015 as compared to the same period in 2014.

Fourth Quarter Financial Highlights

  • Revenues: $100.0 million, a 36% year-over-year increase from $73.3 million in the fourth quarter of 2014.
  • Non-GAAP Adjusted EBITDA: $26.8 million, a 7% year-over-year increase from $25.0 million in the fourth quarter of 2014.
  • Net Income: $11.3 million, or $0.13 per diluted share, a 5% year-over-year increase from $10.8 million, or $0.13 per diluted share, in the fourth quarter of 2014.
  • Non-GAAP Net Income: $16.7 million, or $0.19 per diluted share, a 16% year-over-year increase from $14.4 million, or $0.17 per diluted share.

Fourth Quarter Key Business Metrics Highlights

  • Active Diners were 6.75 million, a 34% year-over-year increase from 5.03 million Active Diners in the fourth quarter of 2014.
  • Daily Average Grubs were 241,800, a 19% year-over-year increase from 202,700 Daily Average Grubs in the fourth quarter of 2014.
  • Gross Food Sales were $643 million, a 26% year-over-year increase from $508 million in the fourth quarter of 2014.

Full Year Financial Highlights

  • Revenues: $361.8 million, a 43% year-over-year increase from $253.9 million in 2014.
  • Non-GAAP Adjusted EBITDA: $105.0 million, a 33% year-over-year increase from $78.7 million in 2014.
  • Net Income: $38.1 million, or $0.44 per diluted share, a 57% year-over-year increase from $24.3 million, or $0.30 per diluted share, in 2014.
  • Non-GAAP Net Income: $58.1 million, or $0.68 per diluted share, a 51% year-over-year increase from $38.5 million, or $0.47 per diluted share, in 2014.

Full Year Key Business Metrics Highlights

  • Active Diners were 6.75 million, a 34% increase from 5.03 million Active Diners in 2014.
  • Daily Average Grubs were 227,100, a 24% year-over-year increase from 182,800 Daily Average Grubs in 2014.
  • Gross Food Sales were $2.4 billion, a 32% year-over-year increase from $1.8 billion processed in 2014.

“We are incredibly proud of the progress we made in 2015.  Our significant upgrades in product and technology as well as our investments in restaurant partnerships set us up for continued growth in 2016 and beyond,” continued Maloney.  “Our capital-efficient model and strong free cash flow have enabled us to introduce a share buyback to return value opportunistically to shareholders while increasing our overall flexibility through the planned establishment of a credit facility.  This flexibility will allow us to acquire attractive assets at reasonable prices if the recent market volatility creates opportunities.”

First Quarter and Full Year 2016 Guidance

Based on information available as of February 4, 2016, the company is providing the following financial guidance for the first quarter and full year of 2016:

First Quarter 2016

Full Year 2016

(in millions)

Expected revenue range

$109 – $112

$445 – $465

Expected Adjusted EBITDA range

$30 – $33

$122 – $130

Fourth Quarter 2015 Financial Results Conference Call: Grubhub will webcast a conference call today at 9 a.m. CT to discuss the fourth quarter 2015 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 February 18, 2016.

About Grubhub
Grubhub (NYSE: GRUB) is one of the nation’s largest portfolios of online and mobile takeout food ordering and delivery services. Connecting diners to more than 40,000 restaurants in more than 1,000 U.S. cities and London, the company’s platforms and services strive to make takeout better through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. The Grubhub Inc. portfolio of brands includes Grubhub, Seamless, AllMenus, MenuPages, 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 March 5, 2015 and our most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, 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 Annual Report on Form 10-K that will be filed for the year ended December 31, 2015, 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.

Contacts:

Anan Kashyap

Katie Norris

Corporate Finance & Investor Relations

Press

ir@grubhub.com

press@grubhub.com

 

GRUBHUB INC.

STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Three Months Ended

December 31,

Year Ended

December 31,

2015

2014

2015

2014

Revenues

$

99,959

$

73,313

$

361,825

$

253,873

Costs and expenses:

Sales and marketing

24,921

19,033

91,150

66,201

Operations and support

32,483

17,766

107,424

62,509

Technology (exclusive of amortization)

8,802

7,212

32,782

25,185

General and administrative

11,457

7,220

40,506

32,307

Depreciation and amortization

6,657

5,809

28,034

22,687

Total costs and expenses

84,320

57,040

299,896

208,889

Income before provision for income taxes

15,639

16,273

61,929

44,984

Provision for income taxes

4,351

5,508

23,852

20,721

Net income

$

11,288

$

10,765

$

38,077

$

24,263

Net income per share attributable to common stockholders:

Basic

$

0.13

$

0.13

$

0.45

$

0.33

Diluted

$

0.13

$

0.13

$

0.44

$

0.30

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

Basic

84,823

81,605

84,076

73,571

Diluted

86,028

84,311

85,706

81,698

KEY OPERATING METRICS

Three Months Ended December 31,

Year Ended December 31,

2015

2014

2015

2014

Active Diners (000s)

6,746

5,029

6,746

5,029

Daily Average Grubs

241,800

202,700

227,100

182,800

Gross Food Sales (millions)

$

642.5

$

508.0

$

2,353.6

$

1,787.4

GRUBHUB INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

December 31, 2015

December 31, 2014

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

169,293

$

201,796

Short term investments

141,448

111,341

Accounts receivable, less allowances for doubtful accounts

42,051

36,127

Prepaid expenses

3,482

2,940

Total current assets

356,274

352,204

PROPERTY AND EQUIPMENT:

Property and equipment, net of depreciation and amortization

19,082

16,003

OTHER ASSETS:

Other assets

3,105

3,543

Goodwill

396,220

352,788

Acquired intangible assets, net of amortization

285,567

254,339

Total other assets

684,892

610,670

TOTAL ASSETS

$

1,060,248

$

978,877

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Restaurant food liability

$

64,326

$

91,575

Accounts payable

8,189

3,371

Accrued payroll

4,841

5,958

Taxes payable

426

1,660

Other accruals

11,830

8,441

Total current liabilities

89,612

111,005

LONG TERM LIABILITIES:

Deferred taxes, non-current

87,584

91,419

Other accruals

5,456

5,931

Total long term liabilities

93,040

97,350

Commitments and contingencies

STOCKHOLDERS’ EQUITY:

Common stock, $0.0001 par value

8

8

Accumulated other comprehensive loss

(604)

(262)

Additional paid-in capital

759,292

689,953

Retained earnings

118,900

80,823

Total Stockholders’ Equity

$

877,596

$

770,522

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

1,060,248

$

978,877

GRUBHUB INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Year Ended December 31,

2015

2014

CASH FLOWS FROM OPERATING ACTIVITIES

Net income

$

38,077

$

24,263

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

Depreciation

5,085

5,032

Provision for doubtful accounts

850

426

Loss on disposal of fixed assets

—

11

Deferred taxes

(3,835)

4,612

Intangible asset amortization

22,949

17,655

Tenant allowance amortization

(159)

(159)

Stock-based compensation

13,450

9,393

Deferred rent

32

(17)

Investment premium amortization

688

315

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

Accounts receivable

(4,343)

(7,394)

Prepaid expenses and other assets

242

(1,669)

Restaurant food liability

(29,409)

13,414

Accounts payable

3,312

(259)

Accrued payroll

(2,104)

4,243

Other accruals

(80)

3,038

Net cash provided by operating activities

44,755

72,904

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of investments

(220,667)

(113,156)

Proceeds from maturity of investments

189,872

1,500

Capitalized website and development costs

(7,137)

(3,431)

Purchases of property and equipment

(4,150)

(3,653)

Acquisitions of businesses, net of cash acquired

(73,907)

—

Other cash flows from investing activities

(408)

—

Net cash used in investing activities

(116,397)

(118,740)

CASH FLOWS FROM FINANCING ACTIVITIES

Net proceeds from the issuance of common stock

—

142,541

Repurchases of common stock

—

(116)

Proceeds from exercise of stock options

11,919

8,322

Excess tax benefit related to stock-based compensation

27,830

12,975

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

(345)

(2,070)

Preferred stock tax distributions

—

(320)

Net cash provided by financing activities

39,404

161,332

Net change in cash and cash equivalents

(32,238)

115,496

Effect of exchange rates on cash

(265)

(242)

Cash and cash equivalents at beginning of year

201,796

86,542

Cash and cash equivalents at end of the period

$

169,293

$

201,796

SUPPLEMENTAL DISCLOSURE OF NON CASH ITEMS

Fair value of common stock issued for acquisitions

$

15,980

$

—

Cash paid for income taxes

—

1,326

NON-GAAP FINANCIAL MEASURES RECONCILIATION

(in thousands, except per share data)

Three Months Ended December 31,

Year Ended December 31,

2015

2014

2015

2014

Net income

$

11,288

$

10,765

$

38,077

$

24,263

Income taxes

4,351

5,508

23,852

20,721

Depreciation and amortization

6,657

5,809

28,034

22,687

EBITDA

22,296

22,082

89,963

67,671

Acquisition and restructuring costs

468

477

1,554

1,639

Stock-based compensation

4,072

2,412

13,450

9,393

Adjusted EBITDA

$

26,836

$

24,971

$

104,967

$

78,703

Three Months Ended December 31,

Year Ended December 31,

2015

2014

2015

2014

Net income

$

11,288

$

10,765

$

38,077

$

24,263

Stock-based compensation

4,072

2,412

13,450

9,393

Amortization of acquired intangible assets

4,774

3,526

18,236

14,102

Accelerated write-down of Seamless technology platform

—

—

1,897

—

Acquisition and restructuring costs

468

477

1,554

1,639

Income tax adjustments

(3,928)

(2,778)

(15,109)

(10,883)

Non-GAAP net income

$

16,674

$

14,402

$

58,105

$

38,514

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

86,028

84,311

85,706

81,698

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

$

0.19

$

0.17

$

0.68

$

0.47

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/grubhub-reports-fourth-quarter-and-full-year-2015-results-300215155.html

SOURCE GrubHub Inc.

GrubHub Expands Delivery Service to Washington D.C.

Food Delivery Service Brings Local Favorites to Hungry Diners’ Doorsteps

CHICAGO, Feb. 3, 2016 /PRNewswire/ — GrubHub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that its delivery service is available in Washington D.C. Through GrubHub’s delivery service, restaurants in Washington D.C. area, including those that did not previously offer delivery, can now expand their customer base and grow their order volume. It will also bring new delivery options to GrubHub diners.

GrubHub currently provides delivery services for more than 15 restaurants in Washington D.C., a number that will continue to grow, including local favorites such as:

“We’re excited to bring delivery to more restaurants in the Washington D.C. area,” said Stan Chia, senior vice president of operations, GrubHub. “But even more importantly, we’re thrilled to be partnering closely with local restaurants to help drive order volume, revenue growth and efficiency, and to bring a wider variety of choice to D.C. diners.”

GrubHub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when GrubHub handles the delivery, restaurants can focus on making great food. The efficiency of GrubHub’s delivery service, combined with great food, creates a win-win for local restaurants.  GrubHub’s delivery service launched in June of 2014 and has since expanded to more than 40 markets across the country.  In 2015, GrubHub announced a national delivery partnership with Fatburger, and is currently testing delivery with seven other national chains.

“Hälsa is in an up and coming area of D.C., so being able to tap into GrubHub’s large network of diners has been a great way for us to market our brand and introduce our food to more customers,” said Melissa Beazer, General Manager at Hälsa.

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 learn more about GrubHub and its portfolio of brands, please visit http://media.grubhub.com.

About GrubHub
GrubHub (NYSE: GRUB) is one of the nation’s largest portfolios of online and mobile takeout food ordering and delivery services. Connecting diners to more than 35,000 restaurants in more than 900 U.S. cities and London, the company’s platforms and services strive to make takeout better through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.

GrubHub Expands Delivery Service to San Francisco

Bay Area favorites HOM Korean Kitchen, Hard Knox Cafe, Oren’s Hummus Shop and Pancho Villa are the latest marquis restaurants to sign on with the online ordering and delivery leader

CHICAGO, Jan. 26, 2016 /PRNewswire/ — GrubHub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that its delivery service is available in the San Francisco market. Through GrubHub’s delivery service, restaurants in San Francisco Bay Area, including those that did not previously offer delivery, can now expand their customer base and grow their order volume. It will also bring new delivery options to GrubHub diners.

GrubHub currently provides delivery services for more than 400 restaurants in the Bay Area, a number that will continue to grow, including local favorites such as:

“We pride ourselves on being a true partner to restaurants by providing a premier delivery service and bringing them more orders to fuel their business,” said Stan Chia, senior vice president of operations, GrubHub. “While there are many choices when it comes to delivery services in the Bay Area, we are thrilled to see that so many great local restaurants recognize the power that GrubHub’s scale, transparency in pricing and diner network can bring to help their business succeed.”

GrubHub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when GrubHub handles the delivery, restaurants can focus on making great food. The efficiency of GrubHub’s delivery service, combined with great food, creates a win-win for local restaurants. GrubHub’s delivery service launched in June of 2014 and has since expanded to more than 40 markets across the country. In 2015, GrubHub announced a national delivery partnership with Fatburger, and is currently testing delivery with seven other national chains.

“We chose to partner with GrubHub due to their massive diner network and efficient delivery capabilities,” said Konan Pi, owner of HOM Korean Kitchen. “With GrubHub as a delivery partner, we can focus on making great food while they handle the delivery and help us reach new customers.”

GrubHub’s online ordering platform has been available in San Francisco Bay Area since 2004 and currently connects Bay Area diners with more than 1,400 local restaurants. 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 learn more about GrubHub and its portfolio of brands, please visit http://media.grubhub.com.

About GrubHub
GrubHub (NYSE: GRUB) is one of the nation’s largest portfolios of online and mobile takeout food ordering and delivery services. Connecting diners to more than 35,000 restaurants in more than 900 U.S. cities and London, the company’s platforms and services strive to make takeout better through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.

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GrubHub Announces Initiatives To Enhance Shareholder Value And Provides Financial Update

Board Authorizes $100 Million Stock Repurchase Program
Expects to Secure $200 Million Credit Facility
Plans to Add Two New Independent Directors to Board
Announces Preliminary Fourth Quarter 2015 Results

CHICAGO, Jan. 25, 2016 /PRNewswire/ — GrubHub Inc. (NYSE: GRUB), the nation’s leading online and mobile food-ordering and delivery platform, today announced several value-enhancing initiatives and preliminary fourth quarter 2015 results.  These initiatives include the Board’s authorization of a stock repurchase program of up to $100 million and approval for management to negotiate and enter into a credit facility of up to $200 million.  In addition, as part of GrubHub’s commitment to best-in-class corporate governance, the Board plans to appoint two additional highly qualified independent directors.

“Today’s announcement reflects the commitment of the Board and management to maximize growth and long-term shareholder value, and reflects valuable input we have received from our shareholders,” said Matt Maloney, CEO.  “We made solid progress in the fourth quarter, delivering revenue at the high end of guidance and adjusted EBITDA above guidance as we continued our momentum in delivery and leveraged our position as the clear leader in mobile and online takeout ordering.  We continue to generate excellent cash flow, and the new credit facility will further augment our already strong cash position, enabling us to aggressively pursue strategic growth opportunities in 2016 and beyond.”

“We believe our shares represent an attractive investment opportunity, and the stock repurchase authorization provides us with the ability to return value to shareholders while preserving our strong balance sheet and flexibility to pursue organic and other growth opportunities,” said Brian McAndrews, Chairman of the Board.  “We remain confident in the strength of our business and the effectiveness of our strategy, and we are committed to delivering long-term shareholder value.”

Preliminary Fourth Quarter 2015 Results
The company expects to report fourth quarter 2015 revenues at the high end of current guidance of $98 to $100 million and adjusted EBITDA modestly above current guidance of $23 to $25 million.

These preliminary, unaudited results are based on management’s initial review of operations for the quarter and year ended December 31, 2015 and remain subject to the completion of GrubHub’s customary annual closing and review procedures.  Final adjustments and other material developments may arise between the date of this press release and when GrubHub announces fourth quarter 2015 results and files its Annual Report on Form 10-K with the Securities and Exchange Commission.  GrubHub will report fourth quarter and full year 2015 results on February 4, 2016.

Stock Repurchase Authorization
The Board has authorized a stock repurchase program of up to $100 million.  Opportunistic stock repurchases may be made at the Company’s discretion from time to time in open market transactions or in accelerated stock buyback programs, tender offers, privately negotiated transactions or by other means.  The timing and amounts of any purchases will be based on market conditions and other factors, including balancing use of resources for repurchases against organic and other growth opportunities.  The repurchase program has no time limit, does not require the purchase of any minimum number of shares and may be suspended, modified or discontinued at any time without prior notice.

Credit Facility
The Company is actively negotiating terms of a syndicated credit facility of up to $200 million to further increase its financial flexibility and to enable it to be aggressive in pursuing growth opportunities.  As of December 31, 2015, the Company had cash and short-term investments of approximately $310 million.

New Directors
In keeping with its ongoing evaluation of the Board to ensure the optimal composition, expertise and qualifications of its directors, GrubHub plans to identify two new independent directors for appointment to the Board, one of whom may replace a sitting director who would step off the Board.  The search is being led by the Board’s Nominating and Corporate Governance Committee, assisted by an external search firm.

“The Board’s search is focused on bringing in world-class directors from leading companies with extensive product development expertise and/or executive leadership experience, and we welcome shareholder input regarding qualified candidates,” said Brian McAndrews. “We believe these skill sets will enhance the Board and provide valuable perspective as we continue to aggressively expand GrubHub’s delivery network while executing against the significant opportunity in takeout ordering.”

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. Any statements that refer to characterizations of future events, circumstances or results, including all statements related to the timing or amount of future stock repurchases, the entering into and terms of any credit facility, the identification of candidates and expansion of our board, and our expected full year 2015 earnings are also forward-looking statements. 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 March 5, 2015, which are on file with the SEC and are available on the Investor Relations section of our website at http://investors.grubhub.com/. 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 is a financial measure that is 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.

We use this non-GAAP financial measure as a key performance measure because we believe it facilitates 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 is not a measurement of our financial performance under GAAP and should not be considered as an alternative to performance measures derived in accordance with GAAP.

A reconciliation to the comparable GAAP guidance has not been provided because certain factors that are materially significant to our ability to estimate the excluded items are not accessible or practically estimable at this time.

About GrubHub
GrubHub (NYSE: GRUB) is one of the nation’s largest portfolios of online and mobile takeout food ordering and delivery services. Connecting diners to more than 35,000 restaurants in more than 900 U.S. cities and London, the company’s platforms and services strive to make takeout better through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.

Media Contact

Sandra Glading

press@grubhub.com

 

Investor Contact

Anan Kashyap

Corporate Finance & Investor Relations

ir@grubhub.com

 

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GrubHub Expands Delivery Service to Los Angeles

Food Delivery Service Brings Local Favorites to Hungry Diners’ Doorsteps

CHICAGO, Jan. 21, 2016 /PRNewswire/ — GrubHub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that its delivery service is available in the Los Angeles market. Through GrubHub’s delivery service, restaurants in Los Angeles, including those that did not previously offer delivery, can now expand their customer base and grow their order volume. It will also bring new delivery options to GrubHub diners.

GrubHub currently provides delivery services for more than 300 restaurants in the Los Angeles area, a number that will continue to grow, including local favorites such as:

“Los Angeles is a culinary melting pot, so expanding our delivery services to the area was a clear opportunity,” said Stan Chia, senior vice president of operations, GrubHub. “We’re thrilled to provide the tools and technology that connect restaurant owners to new customers across the city.”

GrubHub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when GrubHub handles the delivery, restaurants can focus on making great food. The efficiency of GrubHub’s delivery service, combined with great food, creates a win-win for local restaurants.  GrubHub’s delivery service launched in June of 2014 and has since expanded to more than 40 markets across the country.  In 2015, GrubHub announced a national delivery partnership with Fatburger, and is currently testing delivery with seven other national chains.

“Since joining GrubHub, online delivery orders have become an essential part of our business,” said Mayly Tao, co-owner of DK’s Donuts and Bakery. “We love that our customers can enjoy our fresh donuts from the comfort of their home.”

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 learn more about GrubHub and its portfolio of brands, please visit http://media.grubhub.com.

About GrubHub
GrubHub (NYSE: GRUB) is one of the nation’s largest portfolios of online and mobile takeout food ordering and delivery services. Connecting diners to more than 35,000 restaurants in more than 900 U.S. cities and London, the company’s platforms and services strive to make takeout better through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.

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GrubHub Expands Delivery Service to Philadelphia

Food Delivery Service Brings Local Favorites to Hungry Diners’ Doorsteps

CHICAGO, Jan. 14, 2016 /PRNewswire/ — GrubHub, the nation’s leading online and mobile food-ordering and delivery platform, announced today that its delivery service is available in the Philadelphia market. Through GrubHub’s delivery service, restaurants in Philadelphia, including those that did not previously offer delivery, can now expand their customer base and grow their order volume. It will also bring new delivery options to GrubHub diners.

GrubHub currently provides delivery services for more than 60 restaurants in Philadelphia, a number that will continue to grow, including local favorites such as:

“Philadelphia is home to a dynamic food scene and GrubHub is thrilled to connect Philadelphians with more of these great restaurants through delivery,” said Stan Chia, SVP of operations, GrubHub. “For restaurants, we are excited to provide them with tools and technology to reach new customers.”

GrubHub’s national scale lowers the overall cost of delivery to diners, which in turn, helps encourage diner loyalty. And when GrubHub handles the delivery, restaurants can focus on making great food. The efficiency of GrubHub’s delivery service, combined with great food, creates a win-win for local restaurants.  GrubHub’s delivery service launched in June of 2014 and has since expanded to more than 40 markets across the country.  In 2015, GrubHub announced a national delivery partnership with Fatburger, and is currently testing delivery with seven other national chains.

“By partnering with GrubHub for delivery, we can focus on making delicious food for our customers,” said Nick Muzyczka, District Manager for Hai Street Kitchen. “With the cold weather approaching, our customers can now enjoy their favorite Hai Street menu items from the comfort of their own apartments or office buildings.”

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 learn more about GrubHub and its portfolio of brands, please visit http://media.grubhub.com.

About GrubHub

GrubHub (NYSE: GRUB) is one of the nation’s largest portfolios of online and mobile takeout food ordering and delivery services. Connecting diners to more than 35,000 restaurants in more than 900 U.S. cities and London, the company’s platforms and services strive to make takeout better through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. The GrubHub Inc. portfolio of brands includes GrubHub, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn and Delivered Dish.