Groupon, Inc. reported a net income of $13.9 million for its third quarter of 2024, translating to 33 cents per share. The company surpassed its Adjusted EBITDA expectations for the quarter, demonstrating operational efficiency despite broader challenges.
The company acknowledged facing revenue headwinds and retention challenges during the period, which management attributed in part to platform stability issues related to cloud migrations impacting performance. These issues contributed to a temporary decline in legacy customer retention.
In November 2024, Groupon strengthened its financial position by issuing $197.3 million in 2027 Convertible Senior Notes. This financing activity partially exchanged existing 2026 Notes, providing the company with enhanced financial flexibility and a more robust balance sheet.
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