Page 1

● ● Groupon Announces First Quarter 2021 Results Raises Full Year 2021 Revenue and Adjusted EBITDA Guidance North America Local Performance Accelerated in March Launched New Customer Experience in April Revenue of $ 264 million and gross profit of $ 167 million Income from continuing operations of $ 14 million Adjusted EBITDA of $ 30 million GAAP net income per diluted share of $ 0.48 ; Non - GAAP net income per diluted share of $ 0.25 Ended the first quarter with $ 677 million in cash CHICAGO May 6 , 2021 - Groupon , Inc. ( NASDAQ : GRPN ) today announced its financial results for the quarter ended March 31 , 2021 and provided details on its recent operating progress . 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 ) . " During the first quarter , we successfully leveraged the recovery tailwind to drive strong financial and operating results that included more than $ 550 million in gross billings , " said Aaron Cooper , Interim CEO of Groupon . " We also continued to execute on our plan to significantly reduce our cost structure this year , which positions us to deliver substantial Adjusted EBITDA if the business returns to just 80 % of 2019 gross profit levels . At the same time , we also made notable progress executing on our growth strategy , including the recent launch of our new customer experience . We're pleased with our forward momentum and believe we are positioning the company for long term growth . I want to give a big thanks to the teams here at Groupon who are incredibly focused on delivering results for our customers , merchants and shareholders . " Strategy For Growth Our strategy is focused on driving customer purchase frequency and unlocking our marketplace flywheel . We have built a holistic strategy to return Groupon to growth by delivering on our merchant and customer value propositions . As we bring together our focus on both sides of our two - sided marketplace , we are confident that we can not only inflect the business but we also believe we can drive sustained , profitable growth over time . To achieve this goal , we have two strategic priorities - expanding inventory and modernizing our marketplace . In 2021 , we are bringing these two priorities together , by leveraging a new customer experience to drive sales of our expanding inventory and delivering an improved merchant experience that we believe will accelerate our efforts to retain , reactivate and acquire merchants . Expanding Inventory We believe that growing high - quality inventory in a targeted set of Local experiences and markets is key to unlocking the potential of our two - sided marketplace . As a first step , Groupon launched a new inventory product , Offers , and is now focused on driving adoption of Offers among Beauty & Wellness merchants in North America . In addition , we are reducing restrictions on our Deals and continuing to focus on growing Market Rate supply .