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Groupon (GRPN) Tops Q4 EPS by 40c, says increased liquidity resolves going concern issue

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March 15, 2024 7:10 AM EDT

Groupon (NASDAQ: GRPN) reported Q4 EPS of $0.30, $0.40 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $137.7 million versus the consensus estimate of $136.71 million.

Increased liquidity resolves going concern issue
Beginning in the fourth quarter 2022, we disclosed conditions and events, when considered in the aggregate, that raised substantial doubt about our ability to continue as a going concern.
Since then, we have taken the following actions to improve our liquidity:
•Our operating cash flow performance has improved for the year ended December 31, 2023 compared to December 31, 2022 and for three months ended December 31, 2023 compared to December 31, 2022.
•In the fourth quarter 2023, we received $18.9 million in proceeds from the sale of a portion of our non-controlling equity interest in SumUp.
•In January 2024, we closed a fully backstopped Rights Offering that was oversubscribed and raised $80.0 million.
•In February 2024, we prepaid $43.1 million and terminated our credit facility in advance of its maturity in May 2024.
Accordingly, management has concluded that there is no longer substantial doubt about our ability to continue as a going concern.

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


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