Groupon Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net income (loss) | $(11,506) | $(28,613) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization of property, equipment and software | 8,071 | 12,387 |
| Amortization of acquired intangible assets | 1,606 | 2,118 |
| Stock-based compensation | 2,374 | 2,363 |
| Foreign currency (gains) losses, net | 9,797 | (4,087) |
| Change in assets and liabilities: | ||
| Accounts receivable | 515 | 8,319 |
| Prepaid expenses and other current assets | 3,564 | 3,493 |
| Right-of-use assets - operating leases | 750 | 4,008 |
| Accounts payable | (6,087) | (32,073) |
| Accrued merchant and supplier payables | (16,082) | (29,467) |
| Accrued expenses and other current liabilities | (2,298) | 782 |
| Operating lease obligations | (2,489) | (8,239) |
| Payment for early lease termination | (1,832) | (9,601) |
| Other, net | 3,506 | 2,290 |
| Net cash provided by (used in) operating activities | (10,111) | (76,320) |
| Investing activities | ||
| Purchases of property and equipment and capitalized software | (3,709) | (9,544) |
| Proceeds from sale of assets | 116 | 1,088 |
| Acquisitions of intangible assets and other investing activities | (338) | (557) |
| Net cash provided by (used in) investing activities | (3,931) | (9,013) |
| Financing activities | ||
| Payments of borrowings under revolving credit agreement | (42,776) | (27,300) |
| Proceeds from Rights Offering, net of issuance costs | 79,619 | — |
| Other financing activities | (1,502) | (1,897) |
| Net cash provided by (used in) financing activities | 35,341 | (29,197) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (494) | (148) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 20,805 | (114,678) |
| Cash, cash equivalents and restricted cash, beginning of period (1) | 167,638 | 281,696 |
| Cash, cash equivalents and restricted cash, end of period (1) | $188,443 | $167,018 |
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $1,719 | $2,578 |
| Income tax payments | 1,144 | 1,526 |
| Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software | 117 | (4,552) |
| Supplemental cash flow information on our leasing obligations | ||
| Cash paid for amounts included in the measurement of operating lease liabilities | $2,400 | $18,145 |
| Right-of-use assets obtained in exchange for operating lease liabilities | 1,264 | — |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(1)The following table provides a reconciliation of Cash, cash equivalents and restricted cash shown above to amounts reported within the Condensed Consolidated Balance Sheets as of March 31, 2024, December 31, 2023, March 31, 2023 and December 31, 2022 (in thousands):
| March 31, 2024 | December 31, 2023 | March 31, 2023 | December 31, 2022 | |
|---|---|---|---|---|
| Cash and cash equivalents | $158,717 | $141,563 | $163,757 | $281,279 |
| Restricted cash included in prepaid expenses and other current assets | 29,726 | 26,075 | 3,261 | 417 |
| Cash, cash equivalents and restricted cash | $188,443 | $167,638 | $167,018 | $281,696 |
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