Groupon (GRPN) Q1 2026 Earnings Report Shows 1% Drop in Billings

AI Summary

Groupon (GRPN) reported first-quarter global billings of $383 million, representing a 1% year-over-year decline, and revenue remained flat at $117 million. CEO Dušan Šenkypl indicated performance was lower than expected due to challenges in core marketing channels and severe winter weather. Adjusted EBITDA was recorded at $12.8 million, slightly below guidance, impacted by approximately $2 million in severance costs tied to a 5% workforce reduction. Management noted ongoing efforts to pivot towards artificial intelligence, which includes initiatives like Project Foundry aimed at enhancing automated processes in marketing and product workflows.