Brief: Waitr Reports Q1 2020 Results And Provides Business Update

Waitr Holdings

07/05/2020 13:38

May 7 (Reuters) - Waitr Holdings Inc  WTRH.O :
    * WAITR REPORTS FIRST QUARTER 2020 RESULTS AND PROVIDES
BUSINESS
UPDATE
    * Q1 LOSS PER SHARE $0.03
    * Q1 REVENUE $44.2 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$43.2
MILLION
    * IN U.S., INITIALLY EXPERIENCED A DECREASE IN ORDERS IN
MID-MARCH
    * IN U.S., ORDERS REBOUNDED TOWARDS END OF MARCH AND
CONTINUED TO
GROW IN APRIL TO LEVELS HIGHER THAN PRE-PANDEMIC LEVELS
    * EXPECT APRIL REVENUE WILL BE ABOUT $20 MILLION AND
ADJUSTED
EBITDA FOR APRIL 2020 TO BE IN EXCESS OF $4 MILLION
    * WAITR HOLDINGS - REACHED AGREEMENT WITH OUR DEBT HOLDER,
LUXOR
CAPITAL, FOR CO TO REPAY $12.5 MILLION OF SENIOR SECURED CREDIT
FACILITY
    * LUXOR CAPITAL HAS ALSO AGREED TO CONVERT $12.5 MILLION OF
THEIR
CONVERTIBLE NOTES INTO COMMON STOCK
    * AVERAGE DAILY ORDERS FOR Q1 OF 2020 WERE 37,576
    * AVERAGE DAILY ORDERS FOR APRIL 2020 WERE APPROXIMATELY
44,700, A
19% INCREASE OVER Q1 2020
    * ACTIVE DINERS AS OF MARCH 31, 2020 WERE OVER 2 MILLION
    * WILL NOT BE HOSTING A CONFERENCE CALL TO DISCUSS Q1 2020
OPERATIONAL AND FINANCIAL RESULTS

Source text for Eikon:  ID:nBw9Jw2s0a 
Further company coverage:  WTRH.O 

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