Groupon reports $383 million in Q1 billings, missing guidance, while outlining AI-driven restructuring efforts.
Groupon posted first-quarter global billings of $383 million, a 1% year-over-year decline and below the company’s guidance. Revenue held flat at $117 million, while adjusted EBITDA reached $12.8 million, slightly under projections due to $2 million in severance costs tied to a 5% workforce reduction.
Management cited pressures in core marketing channels and North America Local, alongside weather-related disruptions, for the softer performance. The company also unveiled Project Foundry, an initiative to integrate AI across operations, including voice agents for merchant outreach and automation in marketing workflows.
Shares showed limited immediate reaction as investors weighed the mixed results against the AI-focused restructuring plan.