WTRH
WTRH

Waitr Holdings Inc. (WTRH) stock plummeted 19.24% in the after-market trading session at the price of $0.368 after announcing its earnings report for the fourth quarter and year 2021.

WTRH, located in Lafayette, runs a digital ordering technology forum that offers dine-in, delivery, and carryout options. The company links grocery shops and local restaurants to diners in United States markets. It also supplies multiple payment solutions for cafeterias and other vendors.

WTRH Announced Fourth Quarter Results

On 11th March 2022, WTRH published its financial results for the fourth quarter and full-year ended 31st December 2021. The company has also delivered its business updates. Revenue totaled US$38.6M for Q4 of 2021 compared to US$46.8M for last year’s same quarter. It represents a drop of 11% from US$43.4M for Q3 of 2021.

WTRH has a net loss of US$8.1M, or per share of $0.06, for Q4 of 2021. Net income was US$2.6M, or per share of $0.02, for the Q4 of the previous year. For the Q3 of 2021, the company has a net income of US$12.3M. Adjusted EBITDA was US$1.7M for the Q4 of 2021 compared to US$9.9M for the same quarter of the prior year.

WTRH Year 2021 Earnings Highlights

For the year 2021, WTRH calculated revenue of US$182.2M. Revenue totaled US$204.3M for the year ended 31st December 2020. For the year 2021, the net loss was US$5.2M, or per share of $0.04. The company has a net income of US$15.8M, or per share of $0.15, for the year 2020. Adjusted EBITDA was US$15.6M for the year 2021. As of 31st December 2021, WTRH has a cash and cash equivalent of roughly US$60.1M.

Management Comments

CEO of WTRH, Carl Grimstad, remarked that their approach was to extend the business by improving outlets and delivering additional services. They will keep investing in eCommerce technologies, such as Google Food Ordering and Olo Dispatch. These are crucial steps in tracking their overall business growth plan, he added.

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