<div>
  <ul>
    <li>
      <p>
        Muscle Maker, Inc. the parent company of Muscle Maker Grill, a health-focused prepared meals provider, has released financial results for Q2 2022.
      </p>
    </li>
    <li>
      <p>
        Within the quarter, the group recorded 8.3%YoY growth in revenue to USD 2.93 million, primarily driven by an increase in restaurant sales. The restaurant sales revenue increased 7.25% to USD 2.75 million, driven mainly by Pokemoto restaurant sales and vendor rebates from net opening/closing of corporate and franchise locations.
      </p>
    </li>
    <li>
      <p>
        In Q2 2022, the company recorded a loss from operations of USD 1.74 million, an improvement compared to the loss of USD 2.33 million in Q2 2021. This was a result of increased total revenues as well as a reduction in total costs. The net loss for Q2 2022 was USD 1.77 million, compared to the net loss of USD 1.12 million in Q2 2021.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;Pokemoto, the Hawaiian poke concept
    <a href="https://sp-edge.com/updates/1557">
       acquired by Muscle Maker in May 2021
    </a>
    , reported a 130% YoY increase in revenues to USD 1.31 million for Q2 2022. Restaurant sales for Q2 2022 was USD 1.24 million, a 127% YoY increase compared to Q2 2021.&lt;ul&gt;&nbsp;
  </p>
  <ul>
    <li>
      <p>
        In Q2 2022, the Muscle Maker Grill division reported a 21% drop in revenue to USD 1.14 million, compared to Q2 2021. The restaurant sales were USD 1.03 million, a 22% YoY reduction from Q2 2021.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;SuperFit Foods division,
    <a href="https://sp-edge.com/updates/1523">
       acquired by Muscle Maker in March 2021
    </a>
    , reported a revenue of USD 374,884 in Q2 2022, a 31% reduction compared to USD 544,536 in Q2 2021. All of the revenue for the period was from restaurant sales.&lt;ul&gt;
  </p>
  <ul>
    <li>
      <p>
        The company attributed the growth of the group directly to the growth of the Pokemoto brand and its efforts to leverage the expertise of the corporate team towards franchising growth. The group plans to open new corporate-owned locations in Philadelphia, Wichita, and Jacksonville with a pipeline of over 40 new franchise locations.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The group currently operates in 13 states, Connecticut, Rhode Island, New York, Massachusetts, Pennsylvania, Florida, Texas, Mississippi, Tennessee, Maryland, Virginia, New Jersey, and Kansas. It currently has the ability to sell franchises in 40 states with approval for the other 10 states pending.
      </p>
    </li>
    <li>
      <p>
        The group claims a strong liquidity position. As of June 30, 2022, the Company had cash in excess of USD 13.4M and plans to leverage the same to support the company&rsquo;s growth strategy while also exploring potential strategic acquisitions or partnerships.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.globenewswire.com/en/news-release/2022/08/11/2496903/0/en/Muscle-Maker-Inc-Posts-Q2-2022-Results-Operating-Profit-Continues-Improvement.html">
      Press release
    </a>
    &nbsp;
  </p>
  <p>
    <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1701756/000149315222021975/form10-q.htm">
      SEC
    </a>
  </p>
  <p>
  </p>
</div>


Online Food Delivery

Muscle Maker Inc reports an 8.3% YoY revenue growth, driven primarily by Pokemoto restaurant sales

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <p>Alphabet's self-driving tech development unit, Waymo, has expanded its collaboration with Uber Eats to provide autonomous food delivery in specific parts of Phoenix, Arizona. Uber Eats users in particular areas of Phoenix, such as Tempe, Mesa, and Chandler, can opt for their food to be delivered by an autonomous Waymo vehicle. The companies have collaborated with food retailers like Princess Pita, Filiberto's, and BoSa Donuts for this delivery service.</p>
</div>

Waymo and Uber Eats extends partnership to offer autonomous food deliveries in Arizona

<div>
 <p>ASAP, earlier recognized as Waitr, has ended its food delivery business. Founded in 2013, the company made a shift in its operational model to a contract-only service in 2019, leading to the dismissal of 2,300 drivers.</p>
</div>

ASAP announces closure of food delivery operations

ANALYST_QUICK_TAKE

<div>
 <p>Alphabet's drone delivery division, Wing, has expanded its collaboration with DoorDash, a U.S. food delivery service, to initiate drone-based food deliveries in America. The service will first be introduced in Christiansburg, Virginia, where they will partner with Wendy's restaurant. Customers eligible for DoorDash services can choose specific Wendy's menu items and opt for a drone-assisted delivery at checkout, assuring food delivery within thirty minutes. There are plans to introduce the service in other U.S. cities as the year progresses.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> DoorDash and Wing first partnered <a href="https:<br>
//sp-edge.com/updates/14363"> in November 2022 </a> to offer drone-based food deliveries to the latter’s customers in Queensland, Australia—the country where Wing’s primary operations are based. <a href="https:<br>
//sp-edge.com/updates/17859"> In April 2023, </a> the duo expanded the service to include Ipswich, Australia. Today's expansion marks a significant leap toward expanding DoorDash’s drone-based delivery service in the US.</p>

Aplhabet’s Wing expands partnership with DoorDash to launch drone-based food deliveries in US

<div>
 <p>Wonder, a cloud kitchen operator and food delivery service in New York, has successfully raised USD 700 million in a funding round. This round was led by multiple investors, including NEA, GV, Accel, Bain Capital Ventures, Forerunner, Alpine, and Harmony.</p>
 <p>The company plans to use this funding for its physical expansion, researching and developing new ideas, and advancing their own proprietary technology.</p>
 
</div>

Wonder Group raises USD 700 million in venture funding

<div>
 <p>DoorDash has introduced an AI tool, SafeChat+, aimed at detecting and stopping potentially harmful or abusive language in customer and delivery worker interactions within the app. </p>
 <p>This tool is capable of processing up to 1,400 messages every minute. Human employees provide the final verification of the tool's findings. Additionally, SafeChat+ can analyze text in several languages, such as English, Mandarin, French, and Spanish. </p>
</div>

DoorDash launches AI tool 'SafeChat+' to detect abusive language in app chats

<div>
 <p>Uber Eats has introduced a live location-sharing feature to enhance delivery location accuracy. This feature, applicable when users choose "meet outside" or "meet at door" orders, will help couriers locate customers in hard-to-find areas like parks, playgrounds, and campus courtyards.</p>
</div>

Uber Eats launches live location-sharing feature to locate customers in difficult to find locations

<div>
 <p>The Florida Senate has passed a bill for the regulation of food delivery platforms. This bill mandates these platforms to acquire permission from restaurants before accepting or arranging deliveries. It also demands transparency in order costings, including item prices, changes, tips, and taxes.</p>
</div>

Florida Senate passes bill to regulate food delivery platforms

<div>
 <p>Wolt, a Finland-based online food delivery platform owned by DoorDash, has extended its services to Luxembourg. Users can now order from roughly 200 restaurants and several other stores in the country.</p>
</div>

Wolt launches operations in Luxembourg

<div>
 <p>The New York-based food delivery company, Wonder, has opened its first outlet within a Walmart store in Quakertown, Pennsylvania. This establishment will provide food from eight different brands under Wonder's umbrella, and offers delivery, pickup, and dine-in services.</p>
</div>

Wonder opens delivery-focused food hall in Pennsylvania Walmart

<div>
 <p>Toast, a comprehensive restaurant management platform, has made 550 employees redundant, equating to 10% of its workforce, in an effort to decrease operational expenses as part of a restructuring strategy.</p>
 
</div>

All Updates