groupon inc (GRPN) Key Developments
Groupon, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Fiscal Year Ended December 31, 2013; Announces Impairment Charges for the Fourth Quarter 2013; Provides Earnings Guidance for the First Quarter and Full Year 2014
Feb 20 14
Groupon, Inc. announced unaudited consolidated financial results for the fourth quarter and fiscal year ended December 31, 2013. Revenue increased 20% to $768.4 million in the fourth quarter 2013, compared with $638.3 million in the fourth quarter 2012. Adjusted EBITDA was $72.0 million in the fourth quarter 2013, compared with $29.7 million in the fourth quarter 2012. Operating income was $13.4 million in the fourth quarter 2013, compared with an operating loss of $12.9 million in the fourth quarter 2012. Fourth quarter 2013 net loss attributable to common stockholders was $81.2 million, or $0.12 per diluted share, including stock compensation and acquisition-related costs, net, of $34.5 million ($31.0 million net of tax). Fourth quarter 2012 net loss attributable to common stockholders was $81.09 million, or $0.12 per diluted share. Loss before provision for income taxes was $71.48 million, compared to $62.37 million for the last year. Net cash provided by operating activities was $178.275 million, compared to $65.72 million for the last year.
For the year, revenue increased 10% to $2.6 billion in 2013, compared with $2.3 billion in 2012. Adjusted EBITDA was $286.7 million in 2013, compared with $259.5 million in 2012. Operating income was $75.8 million in 2013, compared with $98.7 million in 2012. Full year 2013 net loss attributable to common stockholders was $95.4 million, or $0.14 per diluted share, including stock compensation and acquisition-related costs, net, of $121.5 million ($90.7 million net of tax). Full year 2012 net loss attributable to common stockholders was $67.38 million, or $0.10 per diluted share. Loss before provision for income taxes was $18.91 million, compared to income of $94.94 million for the last year. Net cash provided by operating activities was $218.43 million, compared to $266.83 million for the last year.
For the fourth quarter 2013, impairment of investments was $85.925 million, compared to $50.553 million for the last year.
For the first quarter 2014, the company expects revenue of between $710 million and $760 million, adjusted EBITDA of between $20 million and $40 million, and earnings per share excluding stock compensation, amortization of acquired intangibles, and acquisition-related expenses, net of tax, of between negative $0.04 and negative $0.02.
As a result of growth investments anticipated in 2014, the company expects adjusted EBITDA for the full year to be slightly above 2013 levels.
Groupon Launches Deal Builder, a Self-Service Option for Local Businesses to Build their Own Groupon Deal
Feb 19 14
Groupon announced the launch of Deal Builder, a self-service option for local businesses to build their own Groupon deal. The new Deal Builder platform guides merchants through a step-by-step process and enables them to choose from a series of popular deal templates to construct a promotion that best meets the needs of their business. Piloted to an audience of more than 10,000 merchants, Deal Builder is now available to almost every local business in the US. To begin the process, merchants fill out their basic information, and then choose the right deal structure and discount for their business. Once a merchant is finished, and they have opportunity to review the final product, they e-sign their contract and the deal goes live after a short review process. Deal Builder is available for almost all local businesses, including health and beauty, service-oriented and activities-based businesses. Merchants can even choose which of their products or services they want to feature as part of their Groupon deal. The platform will expand to food and beverage merchants later in 2014.
Groupon, Inc. Announces the Left of Jeffrey Holden as Senior Vice President of Product Management, Effective March 18, 2014
Feb 10 14
Groupon, Inc. announced that jeffrey holden, senior vice president of product management of the company, will be leaving the company effective March 18, 2014.
Groupon, Inc. Announces Significant Expansion of its Groupon Getaways
Jan 22 14
Groupon, Inc. announced a significant expansion of its Groupon Getaways marketplace with the addition of approximately 20,000 new hotels in all of the popular destinations around the world. With the addition of these new properties to Getaways' already popular up-to-60%-off Flash Deals, travelers can now find a hotel through Groupon for every major travel destination providing consumers with even more opportunities to save money when they travel. Plus, anyone who makes a reservation at one of the approximately 20,000 new properties receives 5% back in the form of Groupon Bucks to use toward a future Groupon purchase. The expanded Groupon Getaways marketplace is initially available to Groupon subscribers in the United States and Canada, with plans to launch globally later in 2014. Popular destinations in the marketplace include New York, Paris, Cancun, Orlando, Las Vegas, San Diego and Chicago.
Groupon, Inc., Q4 2013 Earnings Call, Feb 20, 2014
Jan 13 14
Groupon, Inc., Q4 2013 Earnings Call, Feb 20, 2014