Grubhub inc. (GRUB)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Jun'13Mar'13
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)

-33,427

-27,718

1,010

1,252

6,890

-5,150

22,745

30,120

30,766

53,526

12,988

14,754

17,715

13,637

13,182

12,805

9,933

11,288

6,867

9,352

10,570

10,765

6,453

2,692

4,353

1,823

1,256

Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation

8,658

8,572

8,039

7,433

6,193

5,458

5,663

5,476

5,050

3,826

2,857

2,680

2,412

3,354

2,240

1,983

1,344

1,239

1,125

1,506

1,215

1,324

1,318

1,222

1,168

662

616

Amortization of intangible assets and developed software

24,705

23,916

22,610

19,790

18,896

18,695

15,324

14,373

15,901

14,955

9,756

7,734

7,628

6,557

6,849

6,902

5,964

5,418

5,174

7,323

5,034

4,485

4,430

4,393

4,347

1,215

1,180

Stock-based compensation

20,200

18,100

18,300

20,000

16,500

18,900

14,200

11,969

10,231

8,787

8,475

8,195

7,243

5,804

5,349

5,505

6,901

4,072

3,113

3,258

3,007

2,412

2,294

2,284

2,403

617

621

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

190

53

95

-

299

-23

443

285

305

167

93

194

66

-195

361

66

20

Deferred taxes

-2,725

-1,518

-6,506

1,284

-986

-324

5,356

-332

-2,976

-29,017

4,618

-2,039

-4,741

2,935

2,266

-853

-3,321

-1,042

-2,828

-1,184

1,219

-3,599

73

4,930

3,208

1

-152

Deferred rent

-

-

-

-

-

-

-

-

-

-

-87

15

-58

-

-

-

-135

-

-

-

-

33

60

-97

21

33

31

Tenant allowance amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40

39

40

40

39

Amortization of deferred loan costs

-

-

-

-

-

-

-

-

-

-

109

116

124

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-3,479

-3,321

-1,970

-2,505

-735

-980

-1,530

-994

-2,048

-3,280

269

320

234

726

404

-627

109

712

-136

-178

-239

-

-

-

-

-

-

Change in assets and liabilities:
Accounts receivable

18,333

-1,744

-14

-17,042

30,391

-11,877

21,857

-4,060

172

10,333

16,687

-2,505

1,721

-10,272

10,577

1,766

9,956

-2,569

-1,548

-3,402

11,862

-6,224

4,893

-2,269

10,994

707

6,374

Income taxes receivable

16,311

1,733

-7,293

-1,345

916

-4,177

7,415

2,208

-4,090

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

4,602

1,899

-2,902

4,191

10,666

815

7,009

4,930

3,516

-1,323

-870

-366

-2,957

5,789

-441

3,179

136

-1,698

971

740

-255

-104

181

2,218

-626

-129

-323

Restaurant food liability

20,857

1,133

6,325

-16,177

13,099

1,313

11,478

-16,755

6,885

3,985

6,281

-12,987

11,297

5,090

7,083

-5,803

10,081

2,035

-34,496

-21,324

24,376

-60

7,233

-12,437

18,678

-2,976

14,160

Accounts payable

4,678

2,028

10,166

8,428

-18,644

5,895

5,372

-708

601

-7,209

3,943

-1,461

483

1,388

-3,734

4,576

-5,434

3,945

3,324

-2,131

-1,826

1,089

-386

-906

-56

-891

2,401

Accrued payroll

4,277

-2,562

1,244

2,711

411

-1,690

7,272

1,334

-3,295

3,962

1,179

1,930

-1,534

1,237

-13

1,629

-1,034

46

850

146

-3,146

1,680

842

778

943

622

570

Other accruals

26,085

3,261

12,869

-5,626

12,845

833

-3,289

1,154

5,887

5,384

1,986

-5,443

9,808

-4,252

1,483

-3,539

3,855

-469

-1,028

169

1,248

786

-187

-421

2,860

4,407

-31

Net cash provided by operating activities

37,526

26,618

86,215

55,845

13,944

60,065

49,445

44,517

71,500

46,308

40,178

16,068

51,590

35,347

25,240

18,527

18,666

31,165

-16,954

122

30,422

25,646

16,973

2,449

27,836

4,895

14,520

Purchases of investments

19,790

36,483

23,980

13,366

12,160

9,555

3,371

33,734

10,537

9,091

35,559

52,325

57,783

39,238

63,733

67,496

56,227

66,399

88,623

28,577

37,068

-

-

-

-

-

-

Proceeds from maturity of investments

32,900

19,630

10,100

10,000

11,636

12,250

25,800

10,950

18,166

51,250

50,430

58,470

55,833

74,095

82,077

51,875

76,615

67,016

58,238

26,558

38,060

-

-

-

-

-

-

Capitalized website and development costs

14,243

13,456

12,880

11,496

10,692

9,709

8,326

6,883

6,262

6,044

5,705

5,426

4,150

3,950

3,479

3,049

2,331

2,176

1,857

1,891

1,213

1,035

1,284

663

449

758

676

Purchases of property and equipment

19,678

12,465

19,562

15,122

8,018

11,049

12,718

13,804

5,462

6,422

5,258

4,235

3,056

7,004

8,721

5,103

3,259

1,284

1,665

760

441

464

811

602

1,776

459

2,711

Acquisition of other intangible assets

510

1,091

0

3,510

5,379

-

-

-

-

0

20,147

0

5,000

0

0

0

250

-

-

-

-

-

-

-

-

-

-

Acquisitions of businesses, net of cash acquired

-

0

0

0

-127

151,053

367,593

0

-737

-

-

-

-

-

-

-

-

18,220

0

181

55,506

-

-

-

-

-

-

Other cash flows from investing activities

250

-

-

-

-

-

-14

-8

-16

32

-97

-401

-91

-48

-36

403

173

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-21,571

-43,865

-46,572

-33,494

-24,486

-181,005

-366,194

-43,463

-3,342

-251,781

-68,001

-3,115

-14,065

23,951

7,859

-91,704

14,375

-21,471

-33,907

-4,851

-56,168

-47,419

-67,831

-1,265

-2,225

-1,217

-3,387

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings under the credit facility

175,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

2,792

3,347

8,157

10,610

5,843

7,566

7,929

6,492

-

-

-

-

-

-

Taxes paid related to net settlement of stock-based compensation awards

8,051

3,250

5,143

5,394

9,966

7,361

9,521

7,232

11,485

2,860

2,173

1,835

3,688

1,574

267

256

682

-

-

-

-

0

9

1,699

362

-

-

Repurchases of Common Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,003

9,771

-

-

-

-

0

0

0

116

65

1,194

Proceeds from exercise of stock options

1,414

429

1,110

506

2,424

1,180

3,052

3,010

6,948

3,870

4,197

6,724

1,584

1,654

8,936

1,866

1,012

1,230

912

3,954

5,823

3,666

3,511

109

1,036

21

83

Repayments of borrowings under the credit facility

-

0

0

340,282

2,031

1,562

782

25,781

25,781

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for debt issuance costs

-

0

146

7,307

1,647

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

168,363

-2,821

-4,215

147,523

-11,220

39,257

167,749

169,997

-30,318

173,535

1,739

4,889

-2,104

2,872

12,016

3,287

1,169

6,728

8,478

11,883

12,315

11,677

56,080

93,017

558

-695

-1,111

Net change in cash, cash equivalents, and restricted cash

184,318

-20,068

35,428

169,874

-21,762

-81,683

-149,000

171,051

37,840

-31,938

-26,084

17,842

35,421

62,170

45,115

-69,890

34,210

16,422

-42,383

7,154

-13,431

-10,096

5,222

94,201

26,169

2,983

10,022

Effect of exchange rates on cash, cash equivalents and restricted cash

-600

613

-291

-234

232

-239

-88

-674

356

75

296

316

97

-504

-201

-498

-191

-157

-184

286

-210

-128

-298

135

49

-1

-224

SUPPLEMENTAL DISCLOSURE OF NON-CASH ITEMS
Cash paid for income taxes

-

596

0

216

351

387

82

7,199

227

2,808

2,535

13,059

746

-

-

-

-

-

-

-

-

2

3

926

395

903

1,340

Capitalized property, equipment and website and development costs in accounts payable at period end

3,830

968

-651

-2,541

7,851

3,394

2,639

-2,562

3,992

1,912

-445

-463

1,956

-3,328

1,985

2,503

1,423

513

-166

272

308

-

-

-

-

-

-

Cashless exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

4

717

332

-

-

Fair value of equity awards assumed on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

15,980

-

-

-

-

-

-