Shares of Waitr (NASDAQ: WTRH) have popped today, up by 16% as of 1:45 p.m. EDT, after the company reported first-quarter earnings. The regional food delivery tech platform beat top-line expectations and said online order activity has jumped.
Revenue in the first quarter came in at $44.2 million, slightly ahead of the $43.2 million in sales that analysts were modeling for. Net loss was $2.1 million, or $0.03 per share, which was exactly how much red ink Wall Street was expecting. Adjusted EBITDA was $3.7 million, compared to negative $9.9 million a year ago. Average daily orders in Q1 were approximately 37,500, and Waitr had over 2 million active diners at the end of the quarter.
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Source Fool.com