Groupon sees Q1 adjusted EBITDA ($10M)-($5M)

"We are providing more details on anticipated drivers of our first quarter performance. Our first quarter 2023 preliminary results through February include: North America Local billings are estimated to be approximately 44% of 2019 levels and down 9% year-over-year: International Local billings are estimated to be approximately 49% of 2019 levels and down 1% year-over-year on an FX-neutral basis, and consolidated Local billings are estimated to be approximately 46% of 2019 levels and down 7% year-over-year on an FX-neutral basis. We plan to reallocate some marketing spend to lower-funnel performance marketing channels and we will look to continue to invest in marketing overall if we see opportunities to drive attractive returns.We expect first quarter adjusted EBITDA to be between negative $10 million and negative $5 million, dependent on the timing of some of our proposed restructuring activities, and we anticipate significant cash outflows in the first quarter 2023."