CHICAGO, May 11, 2016 /PRNewswire/ -- Grubhub Inc.
(NYSE: GRUB), the leading takeout marketplace, today announced it
has completed the acquisition of LAbite.
Second Quarter and Full Year 2016 Guidance
Grubhub is making the following adjustments to its previous
outlook for the second quarter and full year of 2016, based on
information available as of May 11,
2016, which includes the impact of the LAbite
acquisition:
|
Second Quarter
2016
|
|
Full Year
2016
|
|
(in
millions)
|
Expected revenue
range
|
$113 -
$115
|
|
$465 -
$480
|
Expected Adjusted
EBITDA range
|
$30 - $32
|
|
$125 -
$133
|
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, 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/. Our financial results
should be read in conjunction with our Quarterly Report on Form
10-Q for the quarter ended March 31,
2016 that was filed on May 9,
2016. 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 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 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.
Contacts:
|
|
|
Anan
Kashyap
|
Katie
Norris
|
|
Corporate Finance
& Investor
Relations
|
Press
press@grubhub.com
|
ir@grubhub.com
|
|
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SOURCE Grubhub