2023-05-10 16:51:07 ET
- Groupon press release ( NASDAQ: GRPN ): Q1 Non-GAAP EPS of -$0.65 in-line.
- Revenue of $121.61M (-20.7% Y/Y) misses by $13.31M .
- Gross profit was $104.7 million in the first quarter 2023, down 22% (21% FX-neutral)
- Adjusted EBITDA, a non-GAAP financial measure, was negative $4.9 million in the first quarter 2023, compared with negative $7.0 million in the prior year.
- Global units sold in the first quarter 2023 were 10.5 million, down 17%, primarily driven by a decline in engagement on our platform and a de-emphasis on our Goods category. In North America, units sold during the first quarter 2023 were down 17% and 36% in Local and Goods. In International, units were flat in Local and down 40% in Goods.
- Operating cash flow for the trailing twelve-month period was an outflow of $134.1 million, and free cash flow, a non-GAAP financial measure, was an outflow of $166.9 million for the trailing twelve month period.
- Cash and cash equivalents as of March 31, 2023 were $163.8 million, including $47.7 million of outstanding borrowings under our revolving credit facility
- Shares -4.03% .
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Groupon Non-GAAP EPS of -$0.65 in-line, revenue of $121.61M misses by $13.31M