Waitr Holdings Inc - ASAP stock
Description[edit]
Waitr Holdings Inc. is a US-based company that runs an online ordering technology platform, enabling customers to place orders for various items such as food, alcohol, convenience items, groceries, flowers, auto parts, and more. Additionally, the platform facilitates access to third-party payment processing solutions for restaurants and other merchants. The company was established in 2013 and has its headquarters in Lafayette, Louisiana.[1]
History[edit]
Waitr Holdings Inc. was founded in 2013 by Chris Meaux, a successful entrepreneur based in Louisiana, USA. Chris Meaux saw an opportunity in the rapidly growing on-demand food delivery market and identified a need for a more efficient and convenient way for customers to order food from their favorite local restaurants. With this vision in mind, Meaux and his team developed an online ordering technology platform that would connect customers with local restaurants, allowing them to place orders for delivery or takeout through a simple and user-friendly interface. The platform aimed to streamline the ordering process and provide a seamless experience for both customers and restaurants. The origin of Waitr Holdings Inc. reflects the entrepreneurial spirit and innovative vision of its founder, Chris Meaux, who recognized an opportunity in the food delivery space and built a successful business that continues to serve customers across the United States.[2]
Waitr's focus on local restaurants and its commitment to supporting the communities it serves helped the company gain popularity and expand its presence across various cities in the United States. Over the years, Waitr expanded its services beyond food delivery and started offering a broader range of items for delivery, including alcohol, groceries, flowers, and auto parts, making it a more versatile and comprehensive online ordering platform.[3]
In 2018, Waitr acquired Bite Squad, another online food delivery company, which further strengthened its market presence and customer base.[4]
As the company continued to grow, it went public in November 2018, trading on the Nasdaq under the ticker symbol "WTRH."[5]
Recent Performance[edit]
The company has struggled in recent years for a variety of reasons. Shareholder dilution has been the source of funds to pay for operating expenses, contributing to a declining stock price. It is likely that convertible debt will be used to fund operations in the near term which will result in significant additional dilution.[6] In January, 2023, the stock was delisted from the NASDAQ and began trading on the OTCQB market.[7]
Additionally, Waitr is in a very competitive industry, with competitors including DoorDash and Uber Eats. Market share and cost are very competitive in this industry and Waitr does not seem to be fairing very well.[6]
Financial Performance[edit]
Financial performance for Waitr Holdings:[8]
| Year Ending | Total Revenue | Net Income | Earnings per Share | Total Liabilities | Cash Balance |
|---|---|---|---|---|---|
| 12/31/2022 | $111,801,000 | ($206,789,000) | ($23.00) | $85,236,000 | $12,066,000 |
| 12/31/2021 | $182,194,000 | ($5,229,000) | ($0.87) | $124,618,000 | $60,111,000 |
| 12/31/2020 | $204,328,000 | $15,836,000 | $0.16 | $144,136,000 | $84,706,000 |
| 12/31/2019 | $191,675,000 | ($291,306,000) | ($4.00) | $173,570,000 | $29,317,000 |
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- ↑ Yahoo Finance. ASAP Stock Profile. Retrieved on 7/30/2023.
- ↑ The Advocate. From 'Foogle' to Waitr: Chris Meaux considered himself a 'failed entrepreneur' until 2018.
- ↑ collisionrepiarmag.com. New National Brand Partnering with ASAP.com; Expanded Delivery Service Now Includes NAPA Auto Parts. October 4, 2022.
- ↑ businesswire. Waitr Holdings Inc. to Acquire Bite Squad. December 12, 2018.
- ↑ the Current. Waitr goes public Friday. Technically, you can get in on that stock now. November 15, 2018.
- ↑ 6.0 6.1 Seeking Alpha. ASAP Is Still An Easy Pass. September 7, 2022.
- ↑ daily advertiser. Waitr is about to be kicked off the Nasdaq stock exchange. Here's what to know. January 27, 2023.
- ↑ OTC Markets. ASAP Stock Financials. Retrieved on 8/3/2023.
