The above graph represents the Grubhub net income by year, starting from fiscal 2011 to 2019. Surprisingly, FY 2019 was the first time when Grubhub reported a loss in the last 8 years. The company incurred a net loss of $18.57 million in 2019, primarily driven by investments, including the expansion of the delivery network, increased marketing budget, compensation expense, payment processing costs and certain other expenses. This huge net loss was led by the fourth quarter of 2019 when the company reported a $27.72 million in net loss.
One must note that Grubhub global revenue in 2019 reached an all-time high of $1,312.2 million.
Grubhub Annual Net Income: History
|Source||Grubhub Annual Reports, SEC Filings|
|Note||Grubhub fiscal year starts from January 1st|
As the graph shows, Grubhub annual net income declined a massive 47.94% YoY, from $15.21 million in 2011 to $7.92 million in 2012. This was the highest-ever decline in the company’s net profit in a single year. The net income figure had further declined to just $6.75 million in 2013.
In 2014, the US-based food delivery company finally took a sigh of relief when the global net profit surged an astonishing 259.6% YoY to $24.26 million. The growth was led by the fourth quarter when the company generated about $10.77 million in net profit.
Interestingly, the FY 2017 was the first time when the company generated over $50 million in net profit. The total Grubhub net profit skyrocketed 99.7% YoY in 2017 to an all-time high of $98.98 million. However, in the following year, the company had only $78.48 million in net profit, representing a notable 20.7% YoY decline.
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