North America Local Billings Growth
North America Local achieved a positive 8% billings growth in Q4, a significant turnaround from a 19% decline in 2022.
Financial Strength Improvement
Groupon generated $69 million in adjusted EBITDA and $41 million in free cash flow for the full year, marking the first positive free cash flow since exiting the pandemic.
Platform Modernization Success
Major migrations completed, including fraud detection platform, North America cloud infrastructure, new website, and ERP system, enhancing innovation and user experience.
International Market Growth
International Local, excluding Italy, grew billings by 2% with positive momentum in major markets like Spain, UK, France, and Germany.
Double-Digit Growth in Key Verticals
Significant growth observed in key verticals such as Things to Do, enterprise brands, gifting, and seasonal offerings.
Improved Cash Position
Cash position improved to $229 million, providing a strong foundation for future growth initiatives.