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Waitr Holdings Inc. (Nasdaq: WTRH) reported its Q3 2020 financial results, showing a revenue increase of 7% to $52.7 million compared to $49.2 million in Q3 2019. The net income reached $4.6 million, or $0.04 per diluted share, rebounding from a loss of $220.1 million in the same period last year. Adjusted EBITDA also improved significantly to $13.0 million from a loss of $15.4 million. The company had approximately $80 million in cash as of October 31, 2020, and has diversified its services to include same-day groceries and alcohol delivery.
Waitr Holdings Inc. (Nasdaq: WTRH) announced it will release its third quarter 2020 financial results on November 9, 2020, after market close. A conference call will follow at 5:00 PM ET, accessible via their investor relations website or by phone. The conference call replay will be available for one week. Waitr has established itself as a leader in on-demand food ordering and delivery, operating in over 700 cities across the U.S. alongside its sister brand, Bite Squad.
Waitr Holdings Inc. (Nasdaq: WTRH) has launched a new tableside service technology for restaurants, allowing diners to scan a QR code to access the menu, place orders, pay, and tip via the Waitr app. CEO Carl Grimstad highlighted the importance of contactless service amid the pandemic, noting that this innovation can enhance safety and increase table turnover rates. Since taking over in January 2020, Grimstad has implemented several strategic initiatives to improve service and profitability, including same-day grocery delivery and no-contact service options.