GrubHub Inc. (NYSE:GRUB) Q1 2019 Earnings Conference Call Transcript

Apr 25, 2019 • 04:30 pm ET

Previous

GrubHub Inc. (NYSE:GRUB) Q1 2019 Earnings Conference Call Transcript

Share
Close

Loading Event

Loading Transcript

Presentation
Operator
Operator

Good afternoon. My name is Chantelle and I will be your conference operator today. At this time I would like to welcome everyone to the Grubhub Q1 2019 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Thank you. Adam Patnaude, Head of Investor Relations, you may begin your conference.

Executive
Adam J Patnaude

Good afternoon, everyone. Welcome to Grubhub's first quarter of 2019 earnings call. I'm Adam Patnaude, Head of Investor Relations. Joining me today discuss Grubhub's results are Founder and CEO Matt Maloney; and our President and CFO Adam DeWitt. This conference call is available via webcast on Investor Relations section of our website at investors.grubhub.com. In addition, we'll be referencing our press release and Q1 2019 investor presentation both of which are available on our website.

I'd like to take this opportunity to remind you that during this call we will make forward-looking statements including guidance as for future performance. These forward-looking statements are made in reliance on the Safe Harbor provisions of the Securities and Exchange Act of 1934 as amended and are subject to substantial risks and uncertainties that may cause actual results to differ materially from those in our forward-looking statements.

For additional information concerning factors that could affect our financial results or cause actual results to differ materially, please refer to cautionary statements included in our filings with the SEC including the Risk Factors section of our Annual Report on Form 10-K for the fiscal year ended December 31st 2018 filed with the SEC on February 28th 2019 and our quarterly report on Form 10-Q for the quarter ended March 31st 2019 that will be filed with the SEC. Our SEC filings are available electronically on our investor website at investors.grubhub. com or the EDGAR portion of SEC's website at www.sec.gov.

Also, I'd like to remind you that during the course of this call, we will discuss non-GAAP financial measures in talking about our performance. Reconciliations to the most directly comparable GAAP financial measures are provided in the tables in the press release.

Finally, as a reminder all our key business metrics exclude transactions like LevelUp and Tapingo where Grubhub only provides technology or fulfillment services.

And now, I'll turn the call over to Matt Maloney, Grubhub's Founder and CEO.

Executive
Matthew M. Maloney

Thanks Adam. Good afternoon everyone and thanks for joining the call. We just finished up a delicious late lunch of spring crunch balls from Just Salad which just announced earlier this week that they're taking advantage of a unique Grubhub innovation which allows restaurant brands to efficiently access the massive growth from our marketplace while maintaining control of their brand and their diner relationships. This includes full service POS integration, a bespoke loyalty program and analytically-driven CRM capabilities. Grubhub is the only restaurant partner in the world that offers this type of full-spectrum partnership and we are excited to help Just Salad grow their online business.

During the quarter, we