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Waitr Holdings Inc.
11/2/2021
Good afternoon, everyone. I would like to welcome all of you to the Waiter Holdings Inc. Third Quarter 2021 Conference Call. With us today are Waiter's Chief Executive Officer, Carl Grimstad, and Chief Financial Officer, Leo Bogdanoff. By now, you should have access to the company's earning press release. If not, it may be found at SEC.gov or their Investor Relations website at investors.waiterapp.com. Before I turn the call over to the management, I would like to remind you that certain statements and projections in this call about future business and financial results constitute forward-looking statements. These statements are based on management's current business and market expectations, and actual results could differ materially from those projected in the forward-looking statements. please see the risk factors contained in the company's annual report on Form 10-K and in their Form 10-Qs for the discussion of risks that may cause actual results to vary from these forward-looking statements. Finally, please note that on today's call, management may refer to non-GAAP financial measures. Please refer to Waiter's third quarter 2021 earnings release, for a full reconciliation of its non-GAAP financial measures to the most comparable GAAP financial measures. With that, I would like to now turn the call over to Waiter's CEO, Carl Grimstad, who will give you an overview of the company's business activities and developments for the third quarter of 2021. He will then turn the call over to Leo Bogdanoff, who will provide an overview of the company's operating and financial results. We will then open the call for Q&A. Carl, please go ahead.
Thank you. Hello, everyone, and welcome to the third quarter earnings call. In the third quarter of 2021, we had several hurricanes hit our core southeast markets, and we are continuing to recover from these events. However, we have remained nimble, and despite these adverse weather-related events, we have sequentially increased EBITDA from last quarter, primarily as a result of increased operational efficiencies. We continue to methodically deploy our capital in various initiatives in order to position the company for long-term growth. These include investments in our technology platform with new product offerings, expansion through the acquisition of complementary businesses, and solidifying key partnership opportunities within our industry. We recently broadened our partnership with OLO, a major digital food ordering platform for the restaurant industry by joining their dispatch network. This offering enables us to access a wider universe of restaurants and diners by utilizing our logistics network to fulfill incremental orders generated through the restaurant's own websites and apps. We believe these continued integrations are key in solidifying our presence in the on-demand delivery sector. During the quarter, we also closed the acquisitions of Flow Payments, Pro Merchant, and Cape Cod Merchant Services, three payments companies that provide services in the space of merchant processing. The acquisition of these businesses is an important milestone in our growth strategy to broaden the company's capabilities and diversify its revenue streams beyond third-party food deliveries. Our goal is to continue to expand our ecosystem, which today is comprised of restaurants, diners, and independent contract drivers, and the product and services that we offer to these constituents. We are excited to build on this ever-expanding ecosystem and being able to add a full suite of fundamental payment processing solutions to our current service offering. As we near the end of fiscal 2021, we are continuing to focus on fundamental strategic initiatives and realize efficiencies within our core operational process.
Now I'll turn it over to Leo, our Chief Financial Officer, for a recap of the third quarter results. Thank you, Carl. I'd like to now review our third quarter 2021 financial results.
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