Grubhub Quarterly Revenue Swells to $288M, Misses Expectations

…During prepared remarks and Q&A that followed, Grubhub CEO Matt Maloney focused on the recent acquisitions of LevelUp and Tapingo during the earnings presentation, noting that active diners on the platform grew by 3.2 million. In addition, he said 2019 is looking favorable for the company as it focuses more of its efforts on driving volume in existing territories, rather than expanding geographically as much as it has in recent months.

“We deepened relationships with our restaurant partners through acquisitions of LevelUp and Tapingo, increased the number of restaurants that partner with us to more than 105,000, grew active diners on our platform by 3.2 million, and—most emblematic of the year—accelerated organic DAG [daily average Grubs] on our marketplace every single quarter,” Maloney said.

Overall, the company posted a net loss of $5.2 million during the quarter, which reflects investments in technology, marketing and investing in fleets of drivers in new markets before demand catches up with supply.

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