Groupon, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Groupon, Inc. has submitted its annual 10-K filing for the fiscal year ending December 31, 2023.</b>

AI Summary

Groupon, Inc. (GRPN) filed a Annual Report (10-K) with the SEC on March 15, 2024. Groupon, Inc. filed its 10-K report for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 35 W. Wacker Drive, Floor 25, Chicago, IL 60601. Groupon, Inc. is incorporated in Delaware. The SIC code for Groupon, Inc. is 7311 (Services-Advertising Agencies).

Why It Matters

For investors and stakeholders tracking Groupon, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Groupon's financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial data and disclosures within the 10-K are essential for investors and analysts to make informed decisions regarding investment in Groupon, Inc. (GRPN).

Risk Assessment

Risk Level: medium — Groupon, Inc. shows moderate risk based on this filing. The company operates in the advertising and services sector, which is subject to intense competition and evolving consumer preferences, potentially impacting revenue and profitability.

Analyst Insight

Investors should review the detailed risk factors and financial statements in the 10-K to understand the challenges and opportunities facing Groupon in the coming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 10-K filing)
• 2024-03-15 — Filing Date (Date the 10-K was filed)
• 001-35335 — SEC File Number (Groupon's SEC file number)

Key Players & Entities

• Groupon, Inc. (company) — Filer of the 10-K report
• Chicago, IL (location) — Business and mailing address
• 7311 (other) — Standard Industrial Classification code
• DE (location) — State of incorporation

FAQ

Industry Context

Groupon operates in the online deals and e-commerce sector, connecting consumers with local businesses and offering a variety of goods and services.

Regulatory Implications

As a publicly traded company, Groupon is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Analyze the risk factors section to understand potential challenges and their impact on future performance.
3. Compare key financial metrics with previous years and industry peers to assess trends and competitive positioning.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K
• 2024-03-15: Filing Date — Date Groupon, Inc. filed its 10-K

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K) for Groupon, Inc., providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share GRPN NASDAQ Global Select M
• $7,500 — ith CPRA could result in fines of up to $7,500 per violation in addition to providing

Filing Documents

• grpn-20231231.htm (10-K) — 2345KB
• exhibit44-202310xkdescript.htm (EX-4.4) — 24KB
• a202310-kexhibit105.htm (EX-10.5) — 34KB
• exhibit19-insidertradingpo.htm (EX-19) — 40KB
• exhibit211-2023q4.htm (EX-21.1) — 19KB
• exhibit2312023q4.htm (EX-23.1) — 2KB
• exhibit311-2023q4.htm (EX-31.1) — 8KB
• exhibit312-2023q4.htm (EX-31.2) — 8KB
• exhibit321-2023q4.htm (EX-32.1) — 5KB
• exhibit97-clawbackpolicy.htm (EX-97) — 44KB
• grpn-20231231_g1.jpg (GRAPHIC) — 46KB
• 0001490281-24-000024.txt (&nbsp;) — 13319KB
• grpn-20231231.xsd (EX-101.SCH) — 87KB
• grpn-20231231_cal.xml (EX-101.CAL) — 144KB
• grpn-20231231_def.xml (EX-101.DEF) — 446KB
• grpn-20231231_lab.xml (EX-101.LAB) — 987KB
• grpn-20231231_pre.xml (EX-101.PRE) — 782KB
• grpn-20231231_htm.xml (XML) — 2135KB

Forward-Looking Statements

Forward-Looking Statements 4

Risk Factors

Item 1A. Risk Factors 11

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 34 Ite m 1C. Cyberse curity 34

Properties

Item 2. Properties 35

Legal Proceedings

Item 3. Legal Proceedings 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 35 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36

[Reserved]

Item 6. [Reserved] 38

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 39

Quantitative and Qualitative Disclosure About Market Risk

Item 7A. Quantitative and Qualitative Disclosure About Market Risk 55

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 56

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 106

Controls and Procedures

Item 9A. Controls and Procedures 106

Other Information

Item 9B. Other Information 110

Disclosure Regarding Foreign Jurisdiction that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 110 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 111

Executive Compensation

Item 11. Executive Compensation 111

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 111

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 111

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 111 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 112

Form 10-K Summary

Item 16. Form 10-K Summary 114 ______________________________________________________ 3 PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future operations and future liquidity. The words "may," "will," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue" and other similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, but are not limited to, our ability to execute and achieve the expected benefits of our go-forward strategy; execution of our business and marketing strategies; volatility in our operating results; challenges arising from our international operations, including fluctuations in currency exchange rates, tax, legal and regulatory developments in the jurisdictions in which we operate and geopolitical instability resulting from the conflicts in Ukraine and the Middle East; global economic uncertainty, including as a result of inflationary pressures; retaining and adding high quality merchants and third-party business partners; retaining existing customers and adding new customers; competing successfully in our industry; providing a strong mobile experience for our customers; managing refund risks; retain

BUSINESS

ITEM 1. BUSINESS Groupon is a global scaled two-sided marketplace that connects consumers to merchants. Consumers access our marketplace through our mobile applications and our websites, which are primarily localized groupon.com sites in thirteen countries. We operate in two segments, North America and International, and in three categories, Local, Goods and Travel. See Item 8, Note 18, Segment Information, for additional information. Revenue is earned through transactions during which we generate commissions by selling goods or services on behalf of third-party merchants. Revenue also includes commissions we earn when customers make purchases with retailers using digital coupons accessed through our digital properties. Our Strategy Our strategy is to be the trusted marketplace where customers go to buy local services and experiences. We plan to grow our revenue by building long-term relationships with local merchants to strengthen our inventory selection and by enhancing the customer experience through inventory curation and improved convenience in order to drive customer demand and purchase frequency. Our Categories Local . Our Local category includes experiences and services from local and national merchants, and other revenue sources that are primarily generated through our relationships with local and national merchants. Our local inventory includes, things to do, beauty and wellness and dining, as well as other types of experiences and services. Goods . In our Goods category, we earn revenue from transactions in which third-party merchants sell products to customers through our marketplaces. Our Goods category includes merchandise across multiple product lines, such as electronics, sporting goods, jewelry, toys, household items and apparel. Travel . Through our Travel category, we feature travel experiences at both discounted and market rates, including hotels, airfare and package deals covering both domestic and international travel. For many of our t

View Full Filing

View this 10-K filing on SEC EDGAR