Groupon Reports Third Quarter 2023 Results

Rhea-AI Summary

Groupon, Inc. (NASDAQ: GRPN) announces sequential improvement in Adjusted EBITDA, Free Cash outflow, and year-over-year revenue decline. The company also returned to Local Billings year-over-year growth and plans to strengthen liquidity position by approximately $100 million.

Positive

• Significant progress towards creating an efficient cost structure
• Focus on delivering projects across product, engineering, sales, marketing, and revenue management to reinvigorate marketplace and position business for growth
• Sequential improvement in financial performance and Local Billings return to growth

Negative

• None.

Sequential improvement in Adjusted EBITDA, Free Cash outflow and the rate of year-over-year revenue decline

Returned to Local Billings year-over-year growth

Announces plan to strengthen liquidity position by approximately $100 million

Chicago, Illinois--(Newsfile Corp. - November 9, 2023) - Groupon, Inc. (NASDAQ: GRPN) today announced its financial results for the third quarter ended September 30, 2023. The company filed its Form 10-Q with the Securities and Exchange Commission and posted an updated presentation on its investor relations website (investor.groupon.com).

"We have made significant progress towards our goal to create an efficient cost structure. As the fast transformation comes to an end, we are now switching from a cost cutting first mindset to topline first mindset. We are turning our focus to delivering projects across product, engineering, sales, marketing and revenue management that we expect will reinvigorate our marketplace and position our business to return to growth," said Dusan Senkypl, Interim CEO of Groupon. "While we did not make as much progress on key projects as I expected and our business continues to be challenged, I am pleased to see sequential improvement in our financial performance, Local Billings return to growth, and our plan to strengthen our liquidity position."

The third quarter 2023 earnings materials are posted on Groupon's Investor Relations site located at investor.groupon.com.

About Groupon

Groupon (NASDAQ: GRPN) (www.groupon.com) 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

Public Relations
press@groupon.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186527

FAQ

What are the key financial improvements announced by Groupon, Inc. (NASDAQ: GRPN) in the third quarter?

Groupon, Inc. announced sequential improvement in Adjusted EBITDA, Free Cash outflow, and the rate of year-over-year revenue decline, as well as returning to Local Billings year-over-year growth.

What is Groupon, Inc.'s plan to strengthen its liquidity position?

Groupon, Inc. plans to strengthen its liquidity position by approximately $100 million.

Who is the Interim CEO of Groupon, Inc.?

Dusan Senkypl is the Interim CEO of Groupon, Inc.

Where can the third quarter 2023 earnings materials be found?

The third quarter 2023 earnings materials are posted on Groupon's Investor Relations site located at investor.groupon.com.