GRPN earnings analysis
What we found in GRPN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Groupon reported Q1 2026 results showing flat revenues of $117.2 million, slightly up from $117.187 million last year, but with notable declines in segments like Goods and Travel. The company also experienced a detrimental free cash flow of -$13.517 million as operating expenses increased, while management outlines strategic cost-reduction initiatives to pivot towards an AI-native operating model amid macroeconomic headwinds.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Flat Revenue Compared to Last Year
- Revenue for Q1 2026 was $117.2 million, a slight increase of $13,000 from $117.187 million in Q1 2025.
- Adjusted EBITDA Down
- Adjusted EBITDA fell to $12.79 million from $15.33 million in Q1 2025, a decrement of 16.5%.
- International Revenue Growth
- International segment revenue grew by 4.7% y-o-y to $27.287 million, while Local revenue increased by 9.7%.
- Increase in TTM Active Customers
- Groupon's TTM active customers grew by 4.5% to 16.209 million from 15.472 million in the prior year.
- Cash Balance
- The company's cash balance increased to $225.5 million as of March 31, 2026.
- Global Headcount Reduction
- Management plans to reduce global headcount by 15% to improve operational efficiency.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Cash Flow Deterioration
- Free cash flow worsened from -$3.759 million in Q1 2025 to -$13.517 million in Q1 2026.
- Declining Segment Performance in Goods and Travel
- Goods revenue dropped 40.9% and Travel revenue decreased 4.8% year-over-year, impacting overall growth.
- Macroeconomic Pressures
- Management noted potential impacts from inflation and labor costs which could hinder growth and profitability.
What they reported.
What the company itself reported, taken out of the document.
- Segment
- North America: $89.913M
- Segment
- International: $27.287M
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 10, 2026
- Groupon positions itself as a scaled two‑sided marketplace focused on Local experiences and is explicitly investing to become an AI‑native discovery and transaction platform. Financially, revenue was roughly flat…
- 10-K · March 15, 2024
- Groupon describes itself as a two-sided global marketplace operating in two reporting segments (North America and International) and three categories (Local, Goods and Travel) with localized sites in thirteen countries.…
- 10-Q · November 9, 2023
- Groupon reported Q3 revenue of $126.5M (down from $144.4M in Q3 2022), with gross profit of $110.7M and an operating loss that narrowed sharply to $(464)K from $(36.3)M a year ago. Liquidity is the main concern: cash…
- 10-Q · August 8, 2022
- Groupon reported a steep revenue decline to $153,216,000 in Q2 2022 (down from $265,958,000 in Q2 2021) and swung to a large operating loss driven by impairment and lower service volume. Management recorded $35,424,000…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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