Lafayette-based Waitr beats second-quarter estimates, posts record $10.7 million profit

Lafayette-based food delivery service Waitr announced Thursday its second quarter results beat earlier estimates, posting a $10.7 million in its official results instead of the $8 million estimated earlier. The second quarter marked Waitr’s first profitable quarter since the company went public in 2018. Waitr’s preliminary results in early July estimated the $8 million profit for the company. In the …

Constituents, Industry Best Practices Guide Waitr’s Turnaround

When Waitr (NASDAQ: WTRH) pre-announced its second quarter results, it looked like a starkly different company than it did at the beginning of 2020. But it wasn’t the new popularity of delivery during the COVID-19 pandemic that got the company back on track, it was tough decisions, thoughtful exploration and seeing what the core constituents …

Bite Squad is Back in Growth Mode

Bite Squad—a third-party delivery platform that’s a subsidiary of Waitr—is back in growth mode, according to various news reports, as it looks to add hundreds of new drivers in key markets, along with new executive team members and expanding its delivery service in Oahu, a critical market for the brand. The Minneapolis-St. Paul Business Journal …

Waitr raises nearly $50 million in stock sale, renegotiates debt

Online food delivery company Waitr Holdings Inc. sold $48.3 million of common stock to shareholders, or about 23.6 million shares in recent weeks.  The company expects to use $10.5 million of of that to pay some of its senior secured term loan and the remainder for “operational and growth initiatives” but also general corporate purposes. …

Waitr Pre-Announces Strong Second Quarter

Waitr, the Louisiana-based company that acquired Bite Squad and went public in 2018, shared some strong results ahead of its quarterly release after several difficult, money-losing quarters. According to Carl Grimstad, Waitr’s chairman and CEO, the strong performance is part COVID-19 and part sweeping changes the company undertook in late 2019 and early 2020. Those …

Why Waitr expects to report its 1st profitable quarter since going public

Online food delivery company Waitr Holdings Inc. is projecting its first profitable quarter since the company went public in 2018 from a surge in demand caused by the coronavirus pandemic. Waitr estimates its second-quarter profit at $8 million compared to a $24.6 million loss for the same period a year ago. The company’s full balance sheet …

Waitr Stock Is a Buy Thanks to Covid-19 and M&A Potential

Waitr (NASDAQ:WTRH) is best known on Wall Street as that online food delivery company which — unlike its peers — failed to succeed in a booming space. Waitr stock cratered for what seemed like a good reason. While the likes of GrubHub (NYSE:GRUB), Postmates and DoorDash command multi-billion dollar valuations, Waitr features a measly $250 million market cap, and the stock price has done …

Lafayette-based Waitr adds 225 customer service, dispatch jobs in Louisiana

Lafayette-based Waitr has expanded its customer service and dispatch teams, dropping plans to locate jobs in Mexico and adding more than 200 positions in Louisiana in the first half of the year, the company announced Tuesday. “We believe it’s important to support our communities during these times and are pleased to have been able to …

Lafayette-based Waitr meets projections, records $2.1 million first quarter loss

Lafayette-based food delivery service Waitr on Thursday reported a loss of $2.1 million, or $0.03 per share, for the first quarter, meeting analyst projections and recording its first profitable month in the process. In April, the company released some preliminary findings for the first quarter and said the company was expected to be $2 million to …

Waitr losses narrow during first quarter, sees uptick in demand for food delivery

Louisiana-based online food delivery company Waitr Holdings Inc. saw a net loss of $2.1 million during first quarter, compared to $24.7 million in the red during first quarter 2019.  Waitr had projected a net loss between $2 million and $3 million several weeks ago for first quarter results.  Waitr has seen a boost in demand …