RDE, Inc., Owner Of Restaurant.com, Fuels Growth With MemberHub Partnership; Shares Jump 9%

RDE, Inc. (OTCQB:RSTN) , owner of Restaurant.com, is continuing to make accretive deals in the early stages of the new year. On Thursday, RSTN announced its partnership with MemberHub, the largest and fastest growing community engagement software company for K-12 parent groups. MemberHub currently serves over 12,800 organizations that engage with more than 2.8 million K-12 parents. Restaurant.com is the nation’s largest restaurant-focused digital deals brand, and the deal on Thursday follows its announced partnership last week with Rosebud Restaurants to provide marketing services on its digital deals platform for their six Rosebud and two Carmine’s locations across Chicagoland.

Commenting on the deal, Ketan Thakker, Chief Executive Officer of RDE, Inc., said, “We are excited to bring our national restaurant-focused digital deals to the more than 2.8 million users of MemberHub. They’ve built a strong community with an engaged userbase that is always looking to derive more value for the mutual benefit of its PTAs and K-12 families. We look forward to sharing our restaurant digital deals with the community of MemberHub to grow our business while directly supporting K-12 schools and their families.”

The newest deal with MemberHub can generate significant value. Memberhub’s Givebacks platform stands out as a socially-minded ecommerce marketplace that brings together thousands of businesses, K-12 groups, and millions of parents to raise money for schools while giving parents a discount or cashback on everyday purchases.

MemberHub is also focused on harnessing digital and in-person commerce activity to raise money for schools while also supporting local businesses. According to the company, its model creates a win-win-win dynamic by providing consumers a discount to shop local while giving back to the schools in their community. The partnership with RSTN will add thousands of local restaurant deals from Restaurant.com to its Givebacks platform and allow Memberhub to considerably deepen its inventory in the communities they serve.

Strong Year In The Making

The two recent partnerships should fuel revenue growth, which is strong. On March 1st, RDE, Inc. announced unaudited financial results for the year ending December 31, 2020. According to its filing, and despite the operating headwinds during the ongoing COVID-19 health pandemic, RDE recorded revenue of $2.9 million with net income of $332,000, or $0.06 in earnings per share. Those results compare to a loss per share of ($1.37) in 2019.

RDE noted that the revenue figure reflects business recorded from March 1, 2020, the effective date of RDE’s acquisition of Restaurant.com, rather than the full year 2020. Thus, the twelve months revenue for Restaurant.com was $4.4 million. All financials results are subject to the audit.

Moreover, if the numbers hold through audit, RDE’s performance (after audit) has swung the company into a profit. A breakdown of the results showed Net income from continuing operations of $531,000, demonstrating marked improvement compared with a loss of $2.1 million in 2019. On a per share basis, RDE delivered EPS of $0.06 as compared with a negative EPS of ($1.37) in 2019. Notably, the 2020 net income and EPS include a positive non-cash change in derivative liability due to the accounting of convertible notes.

Shareholder’s equity for the year also had a major turn for the positive. Equity jumped from a ($7.8 million) deficit to $1.1 million in equity for the year. With the removal of all institutional convertible debt, management expects this figure to continue to demonstrate meaningful increases, going forward.

Despite the bearish sentiment for stocks on Thursday, RSTN bucked the trend to post an intraday high of $2.86, and was roughly 8% higher at press time.


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