Groupon (NASDAQ: GRPN) reported Q4 EPS of ($0.38), $0.02 better than the analyst estimate of ($0.40). Revenue for the quarter came in at $148.16 million versus the consensus estimate of $161.6 million.

First Quarter 2023 Outlook

Given we are in the midst of executing our turnaround strategy, combined with an uncertain macroeconomic environment, we are withdrawing our previously issued full year 2023 free cash flow and adjusted EBITDA margin guidance. In light of this, we are providing more details on anticipated drivers of our first quarter performance.

• Our first quarter 2023 preliminary results through February include:
• North America Local billings are estimated to be approximately 44% of 2019 levels and down 9% year-over-year,
• International Local billings are estimated to be approximately 49% of 2019 levels and down 1% year-over-year on an FX-neutral basis, and
• Consolidated Local billings are estimated to be approximately 46% of 2019 levels and down 7% year-over-year on an FX-neutral basis.
• We plan to reallocate some marketing spend to lower-funnel performance marketing channels and we will look to continue to invest in marketing overall if we see opportunities to drive attractive returns,
• We expect first quarter adjusted EBITDA to be between negative $10 million and negative $5 million, dependent on the timing of some of our proposed restructuring activities, and
• We anticipate significant cash outflows in the first quarter 2023.
• For factors to consider regarding our expected operating performance in the first quarter of 2023, please see our Q4 Earnings Presentation. In addition, for more details on the impact of our cost actions on our full-year non-GAAP SG&A expectations, please see our Q4 Earnings presentation
  

For earnings history and earnings-related data on Groupon (GRPN) click here.