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Groupon (GRPN) investor relations material
Groupon Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Global billings grew 11% year-over-year to $416.1 million, with core local category up 18% and now representing 89% of billings.
Global revenue increased 7% year-over-year to $122.8 million, with North America Local revenue up 12% and Local billings up 18%.
Adjusted EBITDA reached $18 million, exceeding expectations and up from $14.8 million year-over-year.
Net loss attributable to common stockholders was $118.4 million for Q3 2025, driven by a $99.9 million loss on extinguishment of debt.
Nearly 300,000 net new active customers were added in Q3, with active customers up 4% year-over-year to 16.1 million.
Financial highlights
Gross profit was $111.8 million, up 9% year-over-year, and consolidated gross margin improved to 91%.
Marketing spend increased 14% year-over-year to $41.4 million (37% of gross profit), supporting acquisition and ROI improvements.
SG&A expenses decreased to $68.3 million from $71.3 million year-over-year.
Operating expenses increased 1% year-over-year to $109.6 million.
Free cash flow for the quarter was negative $24.6 million, but trailing 12-month free cash flow totaled $60 million.
Outlook and guidance
Strategic priorities focus on accelerating supply and growth toward over 20% billings growth while maintaining strong adjusted EBITDA and free cash flow.
Management expects continued investment in technology and AI to drive future growth and efficiency.
Full North American rollout of the new app planned for early Q1 2026, with increased confidence in app performance.
The company believes it has sufficient liquidity for the next 12 months, including repayment of the 2026 Notes.
Anticipates potential release of U.S. federal and state valuation allowance within the next year, which could result in a tax benefit.
How does Chicago's playbook scale to other cities?
How will CDP improve overall purchase frequency?
What AI features will customers see on site?
Partial view of Summaries dataset, powered by Quartr API
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Q4 202511 Mar, 2026
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Frequently asked questions
Coupons and Vouchers
Groupon is an American Company that sells coupons and vouchers for things such as activities, travel, apparel, and services in various countries. These deals are available for a limited time and cover various categories, including restaurants, retail, health and beauty services, and more. The company is active in well over 500 different cities and locations across the world, with a primary focus on North America, Europe, and parts of Asia. Groupon is headquartered in Chicago, Illinois and its shares are listed on the Nasdaq.
Windy City Coupons
Groupon was founded in 2008, and started as a side project of a company called The Point, a website for collective action. Initially, it focused on local deals in the Chicago area and the company’s first deal on sale was a buy one get one free coupon at a local pizza restaurant. Groupon quickly gaining popularity in its hometown for its unique approach to e-commerce, as well as by offering appealing goods and services at heavily discounted prices. The success in Chicago led to rapid expansion into other US cities and eventually global markets. Today, the company is well-established and has millions of users spread out across the world.
The Platform
Groupon provides an online marketplace that connects consumers with local businesses by offering a range of discounted goods and services. These include deals on restaurants, retail products, travel experiences, leisure activities, beauty services, and more. Customers access deals through Groupon's platform, purchasing items and experiences, or in some cases vouchers that can be redeemed at businesses for the service or product at a reduced price. The company’s model aims to benefit all three parties: consumers save money on products and services, businesses gain exposure and potential new customers, and Groupon makes money facilitating the connection.
Commissions
Groupon generates revenue primarily by acting as an intermediary between customers and businesses, in a similar fashion to how Amazon and eBay make money off its platforms. When a customer purchases a deal, Groupon collects a portion of the sale. This commission is a primary source of their income, and Groupon charges for marketing and selling the businesses' offers on its platform. The exact percentage varies, but it allows Groupon to profit from each voucher sold, while the remaining revenue goes to the merchant offering the deal. Groupons platform is relatively.
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