secwatch.observer — SEC 8-K summary
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Issuer:     Groupon, Inc. (GRPN)
CIK:        0001490281
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001490281-23-000054
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Groupon Q1 revenue $121.6M (-21% YoY); net loss $28.6M; transformation plan targets $250M cost cuts
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- Global revenue $121.6M, down 21% YoY; Local revenue $106.6M, down 18%.
- Net loss $28.6M; adjusted EBITDA -$4.9M; cash $163.8M with $47.7M revolver drawn.
- North America active customers down 22% YoY to 10.9M; International active Local customers up 2% YoY.
- On track to exit 2023 with $250M annualized cost savings; non-GAAP SG&A run-rate target $290M.
- Interim CEO outlines transformation plan: fix supply, improve product, tune marketing; expects Local billings growth by early 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1490281/000149028123000054/0001490281-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1490281/000149028123000054/grpn-20230510.htm
  HTML page:      https://secwatch.observer/filing/0001490281-23-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer