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Groupon Inc. (GRPN) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, reporting total revenue of $492.6 million, a decrease from $514.9 million in the previous year. The decline is primarily attributed to a decrease in the Goods and Travel categories.
Cost of revenue was $48.3 million, resulting in a gross profit of $444.3 million, slightly down from $450.7 million in the previous year.
Operating expenses totaled $435.5 million, a decrease from $468.9 million in the previous year, due to reductions in selling, general and administrative expenses.
The company reported a net loss of $56.5 million for the year, compared to a net loss of $52.9 million in the prior year.
Cash provided by operating activities was $55.9 million, while cash used in investing and financing activities was $6.8 million and $47.8 million, respectively.
Groupon had cash and cash equivalents totaling $228.8 million as of December 31, 2024.
The filing also details the company's restructuring plans, including the exit of its local business in Italy and a multi-phase cost savings plan initiated in 2022.
Groupon continues to focus on its strategy to be the trusted marketplace for local services and experiences, investing in technology to enhance customer and merchant experiences.
The company faces ongoing legal proceedings and tax assessments, including a significant tax dispute with the Italian tax authorities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Groupon Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.