Groupon Announces Date for Third Quarter 2023 Financial Results and Provides Update

Rhea-AI Summary

Groupon to release Q3 2023 financial results and host conference call

Positive

• Groupon is focused on delivering for customers and merchant partners during peak season
• The company has executed over 100 initiatives to simplify the platform and improve execution
• Progress is being made on plans to strengthen the financial foundation
• Several proposals for financing and sale of non-core assets are under consideration

Negative

• The company's financial results indicate serious challenges
• Results will take time to improve

Chicago, Illinois--(Newsfile Corp. - October 12, 2023) - Groupon, Inc. (NASDAQ: GRPN) announced today that it intends to release the company's third quarter 2023 financial results after the close of market trading on Thursday, November 9, 2023. The company will also host a conference call to discuss those results at 5:00pm ET.

A webcast of the conference call can be accessed live at investor.groupon.com. A replay of the webcast will be available through the same link following the conference call, along with other published materials.

In addition, the Company is providing the following statement from Dusan Senkypl, Interim CEO of Groupon:

"We have entered our peak season and everyone at Groupon is laser focused on delivering for our customers and merchant partners. In the last three quarters, we have rapidly transformed the Company by executing on over 100 initiatives that simplify our platform and improve our ability to execute. As I updated you last quarter, our financial results indicate the serious challenges our business faces. We have a lot of work to do and results will take time. At the same time, I'm confident that we will succeed in our transformation and we will lay the foundation for our long-term success."

"We continue to make progress on our plans to strengthen our financial foundation and have received several proposals for financing and sale of non-core assets that are currently under consideration. Although we haven't finalized our approach, I would like to reiterate my confidence that all or some combination of these plans will enable us to enhance our liquidity position. I look forward to sharing more about how our business is doing and our plans to enhance our financial flexibility at our upcoming earnings call."

About Groupon

Groupon (www.groupon.com) (NASDAQ: GRPN) is a trusted local marketplace where consumers go to buy services and experiences that make life more interesting and deliver boundless value. To find out more about Groupon, please visit press.groupon.com.

Contacts:

Investor Relations
ir@groupon.com
Media Relations Contact:
Emma Coleman
press@groupon.com

Note on Forward-Looking Statements

The statements contained in this release that refer to plans and expectations for the next quarter, the full year or the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future operations and future liquidity. The words "may," "will," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue" and other similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, but are not limited to, our ability to execute, and achieve the expected benefits of, our go-forward strategy; execution of our business and marketing strategies; volatility in our operating results; challenges arising from our international operations, including fluctuations in currency exchange rates, legal and regulatory developments in the jurisdictions in which we operate and geopolitical instability resulting from the conflict in Ukraine; global economic uncertainty, including as a result of inflationary pressures, ongoing impacts from the COVID-19 pandemic and labor and supply chain challenges; retaining and adding high quality merchants and third-party business partners; retaining existing customers and adding new customers; competing successfully in our industry; providing a strong mobile experience for our customers; managing refund risks; retaining and attracting members of our executive and management teams and other qualified employees and personnel; customer and merchant fraud; payment-related risks; our reliance on email, internet search engines and mobile application marketplaces to drive traffic to our marketplace; cybersecurity breaches; maintaining and improving our information technology infrastructure; reliance on cloud-based computing platforms; completing and realizing the anticipated benefits from acquisitions, dispositions, joint ventures and strategic investments; lack of control over minority investments; managing inventory and order fulfillment risks; claims related to product and service offerings; protecting our intellectual property; maintaining a strong brand; the impact of future and pending litigation; compliance with domestic and foreign laws and regulations, including the CARD Act, GDPR, CPRA, other privacy-related laws and regulations of the Internet and e-commerce; classification of our independent contractors, agency workers or employees; our ability to remediate our material weakness over internal control over financial reporting; risks relating to information or content published or made available on our websites or service offerings we make available; exposure to greater than anticipated tax liabilities; adoption of tax laws; our ability to use our tax attributes; impacts if we become subject to the Bank Secrecy Act or other anti-money laundering or money transmission laws or regulations; our ability to raise capital if necessary; our ability to continue as a going concern; risks related to our access to capital and outstanding indebtedness, including our convertible senior notes; our common stock, including volatility in our stock price; our ability to realize the anticipated benefits from the capped call transactions relating to our convertible senior notes; difficulties, delays or our inability to successfully complete all or part of the announced restructuring actions or to realize the operating efficiencies and other benefits of such restructuring actions; higher than anticipated restructuring charges or changes in the timing of such restructuring charges; and those risks and other factors discussed in Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2022 and Part II, Item 1A. Risk Factors of our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, and our other filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained by visiting the company's Investor Relations web site at investor.groupon.com or the SEC's web site at www.sec.gov. Groupon's actual results could differ materially from those predicted or implied and reported results should not be considered an indication of future performance. You should not rely upon forward-looking statements as predictions of future events. Although Groupon believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither Groupon nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements reflect our expectations as of October 23, 2023. We undertake no obligation to update publicly any forward looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183740

FAQ

When will Groupon release its Q3 2023 financial results?

Groupon will release its Q3 2023 financial results after the close of market trading on Thursday, November 9, 2023.

What time is the conference call to discuss the financial results?

The conference call to discuss the financial results will take place at 5:00pm ET.

Where can I access the webcast of the conference call?

The webcast of the conference call can be accessed live at investor.groupon.com.

Will there be a replay of the webcast available?

Yes, a replay of the webcast will be available through the same link following the conference call.

What is Groupon's focus during peak season?

Groupon is laser focused on delivering for its customers and merchant partners during peak season.

What initiatives has Groupon executed to improve its platform?

Groupon has executed over 100 initiatives to simplify its platform and improve its ability to execute.

What progress has been made on strengthening Groupon's financial foundation?

Progress has been made on plans to strengthen Groupon's financial foundation, including receiving several proposals for financing and sale of non-core assets that are currently under consideration.

When will more information about Groupon's business and financial flexibility be shared?

More information about Groupon's business and plans to enhance its financial flexibility will be shared at the upcoming earnings call.