Waitr Holdings (WTRH) Misses Q4 EPS by 44c, Revenues Beat; Provides Pro Forma FY19 Revenue Guidance
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Waitr Holdings (NASDAQ: WTRH) reported Q4 EPS of ($0.52), $0.44 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $21.3 million versus the consensus estimate of $19.44 million.
"We experienced a year of remarkable growth and operational development in 2018,” said Chris Meaux, founder and Chief Executive Officer of Waitr. “We successfully became a public company through our business combination with Landcadia, secured $85 million in private capital from a valued partner, organically expanded our footprint and most recently completed the acquisition of Bite Squad, an online food ordering and delivery service based in Minnesota. In addition, we added valuable leadership experience to our team, expanded our technology platform into new underserved markets throughout the United States and increased our depth of penetration in our existing markets.”
Fourth Quarter 2018 Financial Highlights Compared to Fourth Quarter 2017
- Revenue for the fourth quarter of 2018 increased 148% to $21.3 million compared to $8.6 million in the fourth quarter of 2017.
- Gross Food Sales1 for the fourth quarter of 2018 increased 113% to $83.4 million compared to $39.2 million in the fourth quarter of 2017.
- Net loss for the fourth quarter of 2018 was $17.0 million, or $0.52 per diluted share, compared to a loss of $15.5 million, or $1.55 per diluted share, in the fourth quarter of 2017.
- Adjusted EBITDA2 for the fourth quarter of 2018 was $(6.4) million compared to $(3.9) million in the fourth quarter of 2017.
Waitr Holdings sees FY2019 revenue of $250 million, versus the consensus of $127.05 million.
Based on information available as of March 7, 2019, the Company expects to achieve pro forma revenue of approximately $250 million for 2019 for the combined company. The results of operations for Bite Squad will be included in the Company’s consolidated financial statements beginning on the acquisition date, January 17, 2019.
For earnings history and earnings-related data on Waitr Holdings (WTRH) click here.
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