Waitr Holdinds Inc. (WTRH) is a digital ordering tech system with options including dine-in, delivery and carryout. The company basically connects grocery stores and restaurants to the customers. The company provides great products at the customer’s doorsteps.
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The price of WTRH stock during the regular trading on January 5, 2022 was $0.73 with an incline of 2.76%. At last check in the aftermarket, the stock went down by 1.38%.
WTRH: Events and Happenings
On January 4, 2022, WTRH reported its collaboration with Virtual Dining Concepts, thus providing the diners with innumerable dining options from using the VDC’s virtual kitchen technology. VDC is one of the largest global virtual dining restaurant platforms with some of the best brands under its belt including MrBeast Burger™, Wing Squad™, Barstool Bites™, Buddy V’s Cake Slice™ and many more.
On December 17, 2021, WTRH reported about its entry into a non-binding letter of intent for the acquisition of Retail Innovation Labs Inc. dba Cova which is an important point of sale, listing and acquiescence software tech business supporting cannabis dispensary vendors.
WTRH: CEO Comments
Speaking at the occasion, Carl Grimstad, CEO of WTRH said that the Cova POS solution will be synergetic with company’s recent purchase of Cape Payments business. He further added that, based on recent performance, the estimated annual gross merchandise price of the cannabis transactions treated on the Cova system is up to $2.3 billion.”
On November 30, 2021, WTRH reported about its entry into a strategic collaboration with Shift4, a leading integrated commerce tech solution company, to offer the Harbortouch POS platform to the company’s restaurant associates.
WTRH: Key Financials
On November 2, 2021, WTRH announced its financial results for the third quarter ended September 30, 2021. Some of the key highlights are as follows
Revenue and Assets
Revenue reported for the third quarter 2021 was $43.4 million as compared to $52.7 million for the same quarter of 2020. Total current assets of the company for Q3 2021 were $55 million.
Net Income per Share
Basic and diluted net income for the third quarter of 2021 was $12.3 million or $0.09 per share as compared to the same quarter prior year when it was $4.6 million or $0.04 per share.
On October 28, 2021, WTRH reported about its entry into a collaboration with Denny’s Corporation thus bringing a leading, franchised restaurant chains to its delivery system. On October 18, 2021, WTRH reported about expansion of its collaboration with Olo Inc., by joining Olo’s Dispatch network.
Conclusion
WTRH stock is 58% down in comparison to past six months progress. Although the stock inclined in the regular trading but showed a downwards momentum in the aftermarket despite no clear reason. The investors and shareholders both are confidant that the recent decline is temporary and the company’s stock will bounce back once again.
