August 7, 2015 Last Updated 8:34 am

Groupon records a Q2 profit due to sale of Ticket Monster

CHICAGO, Ill. – August 7, 2015 — Groupon, Inc. today announced financial results for the quarter ended June 30, 2015.

“Our marketplace transition continues to gain steam as we delivered another solid quarter,” said Groupon CEO Eric Lefkofsky. “Adjusting for currency, all of our businesses in North America and abroad are now growing. Groupon remains an indispensable platform for small businesses while becoming more and more of a daily habit for customers.”

Second Quarter 2015 Summary

  • Gross billings, which reflect the total dollar value of customer purchases of goods and services, increased to $1.53 billion in the second quarter 2015, compared with $1.50 billion in the second quarter 2014. Gross billings grew 2% globally, or 10% excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter. On this F/X neutral basis, North America billings increased 12%, EMEA increased 9% and Rest of World increased 6%.
  • Revenue increased to $738.4 million in the second quarter 2015, compared with $716.2 million in the second quarter 2014. Revenue grew 3% globally, or 11% excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter. On this F/X neutral basis, North America revenue increased 14%, EMEA increased 9% and Rest of World declined 4%.
  • Gross profit was $337.0 million in the second quarter 2015, compared with $366.4 million in the second quarter 2014. Excluding the $28.3 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, gross profit would have been $365.3 million.
  • Adjusted EBITDA, a non-GAAP financial measure, was $61.1 million in the second quarter 2015, compared with $59.7 million in the second quarter 2014, as lower gross profit was mostly offset by lower operating expenses, both reflecting the impact of year-over-year changes in foreign exchange rates.
  • Net earnings attributable to common stockholders was $109.1 million, or $0.16 per share, including $0.21 related to the gain on the Ticket Monster sale. Non-GAAP earnings attributable to common stockholders was $13.8 million, or $0.02 per share.
  • Operating cash flow for the trailing twelve months ended June 30, 2015 was $346.3 million. Free cash flow, a non-GAAP financial measure, was negative $12.5 million in the second quarter 2015, bringing free cash flow for the trailing twelve months ended June 30, 2015 to $266.8 million.
  • At the end of the quarter, Groupon had $1.1 billion in cash and cash equivalents.

Groupon-q2-2015

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