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HomeBusinessWhy Are Groupon Shares Very Attractive Post Q1 2023 Results?

Why Are Groupon Shares Very Attractive Post Q1 2023 Results?

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Groupon, Inc. (NASDAQ: GRPN) reported a non-GAAP loss of 65 cents per share in the first quarter of 2023, which was less than the loss of 81 cents predicted by the Zacks Consensus Estimate. In the previous quarter, the company posted a non-GAAP loss of 80 cents per share.

Approximately 18.2 million customers were active on Groupon at the end of the first quarter, down from 22.2 million at the same time last year.
The business had 7.3 million active overseas consumers and about 10.9 million active North American customers at the end of the first quarter.

Kedar Deshpande, CEO of Groupon, stated:

We are aware that it will be difficult to turn our company around and that it won’t happen overnight. We must use all of our resources to convert this in a targeted manner. Automate Groupon, a previous success, and a Groupon clone in the Czech Republic that successfully underwent the transformation from a daily deal discount flash site to a destination experience marketplace served as inspirations for how we developed our transformation strategy. Eight strategic pillars that will give our transformation strategy focus, structure our teams, and create momentum underpin it.

By putting more of an emphasis on lower funnel performance channels and switching from incrementality to ROI targets in Q1, Groupon increased the effectiveness of its marketing expenditure. This led to advances in efficiency, particularly in search engine marketing, and a decrease in marketing expenditure as a percentage of gross earnings. Prior to shifting back to mid- and upper-funnel channels, Groupon is now concentrating on increasing returns in performance channels.

Create a high-performance team with an emphasis on operational excellence as our fourth strategy pillar. The success of Groupon depends on attracting top talent, and the company is looking for people that are proactive, detail-oriented, and customer-focused. Through Pale Fire Capital’s Network, Groupon recently hired talent in the Czech Republic. The company is also aggressively hiring both internally and externally. The objective is to build a successful team that is devoted to bringing about change and is passionate about Groupon’s mission.

 

“We are currently implementing a transformation strategy that we think will enable Groupon to unlock its full potential. “While we experienced some macroeconomic headwinds in 2022, we also think that we could have adapted our business model more rapidly to address the new and evolving requirements of our local customers and merchants.

Looking ahead to 2023, we are focusing the entire organization on three areas:
Improving the supply side of our marketplace to drive customer demand, leveraging an improved inventory base to make our marketing and promotional spend more efficient, and doing both of these against a backdrop of a meaningfully streamlined cost structure and much better operational rigor. We are confident that if we successfully execute in these areas, we will be able to restart the company’s growth and produce positive adjusted EBITDA with even a smaller base of sales. Given the work we have already done and the opportunities that lie ahead of us, we think we are in a good situation to add value for our clients, partners in business, staff members, and shareholders.”

Etsy is currently trading at $93; Amazon (AMZN) is trending around $105, Target (TGT) is trending around $160.Wish is trading around $8 Groupon is trading currently at $3.50. Groupon can easily bounce back by the end of 2023 which makes it a better investment and buy opportunity for the savvy investor.

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