Groupon's Italian unit loses tax bond appeal; Q1 view above high-end

Groupon, Inc.

Italian tax court denied suspension of appeal bond for €110M assessment; €21M due immediately, €48M by Oct 22, 2024.
Groupon S.r.l. cannot post bond; bank account lien imposed; pauses local voucher sales in Italy (€1M/month revenue loss).
Preliminary Q1 2024 revenue and Adjusted EBITDA expected close to or above high-end of prior guidance.
Unaudited cash at March 31, 2024: ~$158M plus ~$30M restricted cash; full-year guidance reaffirmed.
Company believes assessment without merit; plans further appeals; does not expect exposure beyond subsidiary's ~€48M assets.

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