ASAP - Earnings call 3 2021 | Waitr Holdings Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, everyone. I would like to welcome all of you to the Waitr Holdings, Inc.

Third Quarter 2021 Conference Call. With us today are Waitr's Chief Executive Officer, Carl Grimstad; and Chief Financial Officer, Leo Bogdanov. By now, you should have access to the company's earnings press release. be investors.waitrapp.com. sec.gov may Relations the it at website not, found or at Investor If

turn call statements the actual annual forward-looking contained expectations, I differ on statements. financial results based see may forward-looking to this could projected Before on the about these results materially results remind would in factors management, call business These you like constitute I company's management's those forward-looking that cause statements. from the for of and statements in XX-K business current in the XX-Qs and certain the future report from Form and statements. risk actual in Form risks vary over projections Please your to and to discussion are the market and that

that the comparable Finally, Quarter Waitr's to call, reconciliation of financial today's Please refer its for full management measures. Third measures. financial to a most on non-GAAP please GAAP to note financial non-GAAP refer XXXX release earnings may measures

With an He over Carl call give quarter for XXXX. to third will turn turn Grimstad, financial then Bogdanov, company's who that, overview Waitr's you the call results. the to the over an would company's of activities and to of CEO, the of business developments will I the Leo who will overview now like provide operating and

Q&A. go ahead. for please the Carl, will call open We then

Carl Grimstad

third In continuing our events. Hello, the of everyone, core call. are and quarter the we quarter markets, from to we you. had Thank and these to hurricanes Southeast welcome XXXX, earnings recover several hit third

quarter, operational sequentially we these despite result of However, increased increased nimble. adverse efficiencies. we And a remained EBITDA last from as events, have primarily weather-related have

technology initiatives to partnership businesses our acquisition with solidifying for methodically our platform of the opportunities within capital the our complementary new These include in deploy company to investments offerings, continue through product in industry. in order expansion various long-term growth. and position We key

to digital wider access food restaurant ordering their Olo, and This to a restaurants by in through websites diners network presence broadened are of these solidifying logistics joining network. in partnership on-demand our our major believe sector. and by key dispatch a delivery industry, continued utilizing the universe incremental platform restaurant's our the us recently We the integrations orders apps. owned with fulfill for We enables offering generated

also company's Cod The quarter, an payments processing. Merchant Cape acquisitions companies streams the important capabilities the During provide in to Payments, our and food we strategy businesses these diversify services closed ProMerchant of Services, and third-party its is the growth Flow X milestone broaden the of that revenue space of merchant delivery. acquisition in beyond

to restaurants, is diners today expand and goal contract these services drivers, that constituents. which the to of our comprised Our is and ecosystem, product offer independent and to we continue

and full ever-expanding service offering. being on ecosystem excited of to payment We solutions processing this suite to build a add are fundamental to able our current

As of fiscal are near process. operational realize end efficiencies and our focus core the on continuing fundamental we initiatives to strategic within XXXX, we

of it turn for Financial quarter Officer, Now to I'll Chief third over a our recap the Leo, results.

Leonid Bogdanov

now of review XXXX. of third XXXX Revenue third financial $XX.X the for to XXXX our like I'd third the quarter quarter to Carl. compared you, Thank in million million quarter $XX.X was results.

quarter compared quarter in of million XXXX. Adjusted to the of XX, for $XXX.X September compared ended the X $X.X XXXX, third to months the was in of second and quarter third $XX million For XX, million $X.X X XXXX revenue XXXX. the ended was September million million in months EBITDA XXXX $XXX.X the

quarter of $X.XX income per of the XXXX net for for the of was income of share third third per for compared of the compared quarter $X.X $X.XX the income to million quarter quarter Net was million third $XX.X Net third XXXX in XXXX. XXXX. share to

XX, September term XXXX. of Cash September on of and of notes. loans hand $XX XXXX, long-term convertible primarily $XX.X $XX.X Total million debt consisting our as XX, million million, of outstanding totaled million was $XX.X as

That concludes our financial the of recap third quarter results. XXXX

We will a Q&A now short session. go into

Operator

question take from [Operator Craig-Hallum Alex our from Group. Capital first Fuhrman Instructions] We'll

Alex Fuhrman

QX of hope efficiencies more talk Louisiana. a more imagine kind are operating have just have better really profits that for performance and from? of all from? some certainly through on better wanted like, QX that's support. hurricanes color actually ask coming looks in even and huge a Orleans all best of the from well Really coming your market and on their to even recovery. really the to driving where have QX to Obviously, color the had company that speedy happened, are wish leverage you and I us if the operations see mean, about hit about really all that turbulent regarding I historical back-to-back unprecedented you drivers ramp-up would QX. you. those and Louisiana And the the a than bit little be QX of I is what's hurricane employees New for helpful. despite we income rest all families that the those managing been season in norm on to of give where It the I of you Any think, Can would profitability impressive, I Can hurricanes have statement, strong of times. was of a

Carl Grimstad

across tricky. really It's mostly. it's And bit little board. the It's headcount a

and form these act subsidies. like COVID his government act an from but it's this of storms. the pandemic, individual federal hurricane tumultuous, XX-month of had diner one of Our had the and really of or the has we've to forces, had drives economic been what's whether the of in was all so matching said a markets COVID an to We've And in, business I've these foundation history your outside we've all these proper order we're the flow it's demand. or And tricky right? satisfy the And always God that the well-being with dynamic, headcount support business. the beginning,

impacts outages of Then what about disruption very roads have and have and passable, what have have the people the they think a the wings. of restaurants than you are leave initial closed a live you and they're more that the their can't financial roof They storm, and you in period you. constrained. power lasting in, happens And fixing for like not where of budgets chicken likely, area disruption, homes are you have are So their might ordering instead time.

we because Alex, to anticipated be would because I speak. that hard to impact But the we still at So it head and our high it's finish it, looking adjusted count think the think in see our expense And and we'll so through I of storms, we team out to very quarter these benefits proactive feeling that to in from there as levels the we're pull -- marks the and effect quantify even, rapidly. year. a were lasting to continue

Alex Fuhrman

We've next And I Waitr? of get Can that secret to M&A about targets ask efficient of some year. bring of of capabilities away are a about strategy. seen helpful. too could then you've That's to play your acquisitions sauce, Is made it recently. about to strategy these your of wanted the Carl. Okay, number how than into some you assets talk what to more buy much these kind acquired build? love sense giving would a Without of

Carl Grimstad

Yes.

going So me any trade to to did merchants, a equity I've event-driven be outlined not quarter, our have of XX-plus executing about on number that the you of is if strategy on the now, orders be right? extra percent very It's think right? going the -- diners, that pulled foods. right comes of us from strategy, because in prepared that a drivers day you restaurants, obvious just It's we forward our is our events ecosystem, we couple given it's revenue will, with to definitely and going on delivering times. thousand And to right? this

we acquisition more going right? to verticals we've basic more and are going we alcohol are last-mile several verticals products, there core competition be the you, to have the delivery. our competencies, constituents diverse what past apply less sell which in -- but are about convenience and -- think we're talked definitely very We and in that that products, the have can and these So

We own deliver full The with less capability world. hour a the products. give footholds base our attack apply suite X in proven companies payments their existing things that us payments profitably. to the restaurants can from our verticals well. the we we can of of to mile of businesses We've other in come payment that of acquisitions an within delivery they than last mention, Not as competency have to core

of basic So you'll have of constituents group focused sell I'm into enhancing we group -- so right? that focused, on products platform expanding where and services to that and that constituents. other the I'm that's

Operator

Hi, Leo.

to me further give more question this at have you no Would prompt? time. for like one We

Carl Grimstad

Thanks any follow-up I our call. think website. again. or conclude are If again. Investor Thank questions, to our questions, any them there if we can -- you we're other please Relations aren't there submit the

Operator

concludes Thank everyone, conference your for participation. today's That you, call.

You may disconnect. now

Waitr (ASAPQ) 2 Nov 212021 Q3 Earnings call transcript