Waitr Holdings: Jumps on lower-than-expected Q4 loss, higher revenue

Waitr Holdings

16/03/2020 15:07

** Online food delivery company's shares  WTRH.O  jump ~27%
to $0.40 after posting smaller-than-feared loss for the first
time ever
    ** Q4 loss of 28 cents/shr vs est of 29 cents/shr, while Q4
rev more than doubles to $43.1 mln due to a 75% rise in qtrly
average daily orders and 85% jump in gross food sales
 urn:newsml:reuters.com:*:nASA00HV0
    ** CEO Carl Grimstad expects WTRH to achieve positive cash
flow from Q1 2020
    ** WRTH, which bought peer Bite Squad in Jan. 2019, earlier
slashed jobs and closed ~60 operations in unprofitable markets 
    ** Average rating for WTRH is "buy" with median PT of $3.5;
stock down 2.17% YTD

 (Reporting by Devik Jain and Sruthi Shankar in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))