Groupon, Inc. (NASDAQ:GRPN) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET
Company Participants
Dusan Senkypl - Interim Chief Executive Officer
Jiri Ponrt - Chief Financial Officer
Conference Call Participants
Sean McGowan - ROTH MKM
Eric Sheridan - Goldman Sachs
Operator
Hello, and welcome to Groupon's First Quarter 2024 Financial Results Conference Call. On the call today are CEO Dusan Senkypl; CFO, Jiri Ponrt; and SVP Corporate Development and Investor Relations, Rana Kashyap. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the Company's formal remarks. [Operator Instructions] Today's conference call is being recorded.
Before we begin, Groupon would like me to remind listeners that the following discussion and responses to your questions reflect management's views as of today, May 09, 2024 only and will include forward-looking statements. Actual results may differ materially from those expressed or implied in the company's forward-looking statements. Groupon undertakes no obligation to update these forward-looking statements as a result of new information or future events.
Additionally, information about risks and other factors that could potentially impact the company's financial results are included in its earnings press release and in their filings with the SEC, including its quarterly report on Form 10-Q. We encourage investors to use Groupon's Investor Relations website at investor.groupon.com as a way of easily finding information about the company. Groupon promptly makes available on this website the reports that the company files or furnishes with the SEC, corporate governance information and select press releases and social media postings.
On the call today, the company will also discuss the following non-GAAP financial measures, adjusted EBITDA and free cash flow. In Groupon's press release and their filings with the SEC, each of which is posted on its Investor Relations website, you will find additional disclosures regarding these non-GAAP measures including reconciliations of these measures to the most comparable measures under the U.S. GAAP.
Before we begin, I’d like to apologize for the technical difficulty to start this call. And with that, I am happy to turn the call over to Dusan.
Dusan Senkypl
Hello and thanks for joining us for our first quarter 2024 earnings call. It’s a pleasure to be with all of you. Today’s prepared remarks are posted on our investor relations website along with an investor presentation which I will refer to during my remarks.
In addition, I encourage you to review our press release and 10-Q, which contain more detail on our first quarter results. I will start today’s call on Slide 5 and cover our first quarter numbers. Our business grew +1% year-over-year in the first quarter. While 1% growth is far below my ultimate goal and the opportunity I see ahead, I am pleased to achieve this milestone. You need to travel back 8 years to 2016 to find the last time that Groupon grew revenue on a consolidated basis.