GrubHub Reports First Quarter Results

May 8, 2014 at 12:00am

GrubHub Inc. (NYSE: GRUB), the leading online and mobile food-ordering company, today announced financial results for the quarter ended March 31, 2014.

"We are off to a strong start as a public company with record active diners, orders and revenues in the first quarter, continuing the robust growth momentum we had throughout 2013," said Matt Maloney , GrubHub CEO. "We remain focused on making takeout better by continuing product innovation, driving more orders to independent restaurants and creating more transparency and control for diners."

First Quarter 2014 Results:

The following results reflect the financial performance and key operating metrics of our business for the three months ended March 31, 2014, compared to the non-GAAP pro forma combined results of Seamless Holdings and GrubHub Holdings for the three months ended March 31, 2013, giving effect to the August 2013 merger of the two companies.

Financial Highlights:

Key Business Metrics Highlights:

Second Quarter 2014 Guidance:

Based on information available as of May 8th, 2014, the company is providing the following financial guidance:

"The market for GrubHub is substantial with Americans spending roughly $67 billion every year on takeout from independent restaurants. Less than five percent of those purchases are made online or through a mobile device," noted Maloney. "We are pleased with the scale we have achieved, with $1.4 billion in gross food sales processed through our platforms in the last 12 months. And, as the clear leader in this large market, we are even more excited about the sizeable opportunity in front of us."

First Quarter 2014 Financial Results Conference Call: GrubHub will webcast a conference call today at 5 p.m. ET to discuss the first quarter 2014 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. Following the webcast, a replay of it will be available at the same website until May 22, 2014.

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