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