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This statistic highlights Waitr Holdings’ Revenue by Segment, split between Transaction Fees, Setup and Integration fees, and other segments, reported on a quarterly basis from Q1 2018 onwards.
Waitr Holdings Inc is a company offering services such as same-day delivery, alcohol delivery services, and offering tableside service technology for restaurants along with restaurant food delivery.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Setup and integration fees||$0.02||$0.01||$0.00||0%|
(All the figures are in millions except for the percentages)
The total revenue of the company has witnessed an overall decrease of 17.6% on a year-on-year basis, falling from $52.73 million in Q3 2020 to $43.45 million in Q3 2021. Revenue also declined by 11.63% on a quarter-on-quarter basis, when compared to $49.17 million in Q2 2021. The majority of the revenue comes in the form of Transaction fees followed by other sources of revenue.
The company recognizes transaction fees when it successfully processes the order placed on the platform and received at the specified location. The fees are earned from restaurants on a net basis. It also includes the fee charged to the customer when they request the order to be delivered at a specified location. In the case of diner fees, revenue is recognized when delivery service is completed.
Revenue declined from $52.62 million in Q3 2020 to $41.41 million in Q3 2021, approximately 21.3% on a Year-on-Year basis. It also fell by approximately 14.17% on a Quarter-on-Quarter basis. This segment if the highest contributor of the revenue of the company. The revenue share of the transaction fees segment declined from 99.79% in Q3 2020 to 95.3% in Q3 2021.
Setup and Integration Fees
It refers to administrative activities that allow the company to fulfill future performance obligations and is recognized over the period of two years. It does not represent service transferred to the restaurant. The company discontinued its operation of providing one-time upfront, one-time Setup, and Integration Fees in July 2019.
Revenue declined from $0.02 million in Q3 2020 to $0.01 million in Q2 2021, roughly by 50% and no revenue was recognized in the latest quarter of Q3 2021.
Residual and Bonus upfront fees are part of Other Revenue. Residual fees refers to the fees received by the company by providing referral services, connecting merchants with payment processing services. Bonus up-front fees refer to the fees paid at the time of the merchant’s initial transaction with the payment processing solution provider based on the pre-specified price at the time of agreement.
Revenue increased significantly from $0.09 million in Q3 2020 to $43.45 million in Q3 2021, growing approximately by 48177.78% on a year-on-year basis. On a quarter-on-quarter basis, the revenue also grew by 121.74%, from $0.92 million in Q2 2021 to $43.45 million in Q3 2021.
Waitr Holdings is an online ordering technology platform that offers services such as delivery, dine-in, and carryout. The company was founded in 2008 by Christopher Meaux. It has its operational headquarters in Lake Charles, Louisiana, U.S. and the financial headquarters in Houston, Texas, U.S. It connects restaurants, drivers, and diners, allowing them to browse menus, track order and delivery status, and allowing them to view their previous orders for convenience. It also enables restaurants to optimize orders through real-time analytics and allows them to edit menus based on inventory. The company’s technology platform includes Waitr, Bite Squad, and Delivery Dudes, allowing customers to browse local restaurants enabling aggregation of restaurant order and delivery tasks onto the central in-app controller. As of 31st December 2020, the company conducted its operations in 700 cities across the US, and it is headquartered for operational activities in Lake Charles, US, and for financial activities in Houston, Texas, US. The pandemic has impacted the operations of the company severely. It resulted in a change in diner’s habits and in the availability of disposable income for ordering food from restaurants. But the company initiated several programs to protect its partnered restaurants, diners, and employees, such as no-contact delivery, no delivery fees, free marketing programs for some restaurants, providing masks, sanitizers, and gloves to the driver ensuring utmost safety.
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