Waitr Inc. reported $77.7 million in gross food sales during the third quarter, more than doubling its year-over-year total, and a 230 percent increase in revenue, the company announced Thursday morning.
Waitr, which recently announced it would go public following its deal to merge with publicly traded Landcadia Holdings Inc., is now projecting to bring in $65 million to $68 million in revenue for 2018, up from its earlier prediction of $62 million to $67 million.
The increase in revenue was the result of the Waitr entering 32 cities in six new markets and further expansion into existing markets, CEO Chris Meaux said in a statement.
Waitr announced last month it expanded into New Iberia along with Athens, Georgia; Auburn, Alabama; Little Rock, Arkansas; and several other cities.
“The momentum we experienced in the first half of the year continued into the third quarter,” Waitr CEO Chris Meaux said in a statement. “We remain excited about the pending merger with Landcadia as well as the financing agreement to be provided by Luxor Capital Group.
“Both are highly qualified partners who will further enable us to accelerate our growth in our current markets, expand into new markets and take advantage of potential opportunistic acquisitions.”
Waitr is now available in 40 markets (235 cities), up from 34 markets on June 30 and just 13 on Sept. 30, 2017. It recorded more than 7,700 restaurant partners on Sept. 30, an increase of 168% from the year prior.
The company released the data ahead of the merger’s expected completion on Nov. 15. Waitr will then trade under the stock ticker symbol WTRH and become a subsidiary of the combined company.
Acadiana business today: Waitr reports increase in sales, revenue in third quarter; PetroQuest files for bankruptcy
Waitr Inc. reported $77.7 million in gross food sales during the third quarter, more than doubling its year-over-year total, and a 230 percent…
Lafayette-based PetroQuest Energy filed for bankruptcy protection on Wednesday, citing a reorganization plan to eliminate $204.5 million in debt.
The Lafayette city-parish mayor and council chairman agree that opponents of the Lafayette Parish property tax proposals that tanked on the ba…
CROWLEY — The widened section of Interstate 10 from the Interstate 49 interchange to the Atchafalaya Basin bridge will improve the overall qua…
In a move to make its patients' journey to wellness after leaving the hospital easier, Opelousas General Health System announced it will open …