thanks call. and to an a joining Hello posted are with quarter remarks. our Investor prepared presentation, website, on investor be I Today's of remarks It's all you. pleasure to which my XXXX during year our us and full with refer fourth Relations for earnings for along will
you on encourage our XX-K XXXX press review I to and our QX detail addition, full contain In release more results. and which year
Slide takeaways the from today's I key on fourth call X and will the cover start quarter.
in our adjusted both our pleased fourth another EBITDA. of guidance and reported as on results progress above I'm of high-end deliver on numbers. our to the First, quarter numbers came revenue financial quarter
North a last were X% the was revenues performance period segment, same to Local down a and year Our driven our our categories down when Travel year-over-year, combined XX%. major strong compared were categories improvement where by in our America these
and Local represents of North see in XX% to progress the Travel It's consolidated categories, revenue. our America encouraging which
in While strong segment of we our clearly is category, and do our Goods positive our International declaring a work to market performance that indicator from are plan and transformation is improved far working. victory our main have more the
my also bottom adjusted to is flow strong improved from organization, long-term to quarter year employee on resulted strength end our working the From the and both robust top-line line, basis progress financial note. fourth combination top our transformation made our capital to $XX declines. of where points on cycle a fourth free the X,XXX bottom cash EBITDA performance of performance improvements, line In a cornerstone we of million negative holiday last pleased value. line margins quarter. I'm benefited A satisfaction perspective, in moderating positive better of addition thriving shareholder and as compared year-over-year and one innovation, fueling
million has Using agreement. all a to we prepaid part all This February financial terminated like in to their that the clarity and Groupon third provide Second, Since significantly we rights our I our liquidity oversubscribed not our combination on stakeholders, of combination and asset sales would proceeds customers, including employees, liquidity we our credit offering suppliers you improved of to and milestone investors that our and important to our financial with issue. balance concern speaking $XXX is for call, increased going through sheet. fully solid I foundation am The plan and in backstopped our from the offering, an thank support. going pleased are resolves was quarter rights on to raise closed offering. performance the shareholders rights and anywhere. merchants, earnings a report of a our
our on key the pace our an on projects that our projects. quarter, across Last Third, will I depend our executing explained progress update transformation businesses. of
will new want new I the and projects, front to I highlight briefly our more end details X our go key last, slides, at and on we touch While consumer team which X% in progress is front significant spoke America subsequent consumer a up expected gifting web running the in weeks. North into initiative. currently our of end, Since traffic ramp to coming made has further and
gifting. to Turning
orders we Our saw strong vX.X last had over XX% offering results grow year. and December December versus gift
as thesis numbers leading destination very Groupon pleased small can base, that the become giftable we these early are a for experiences. our off am results While with I a support
back. to a lead transformation. accepted shareholders a the step It Turning take financial my minute Groupon. our has frankly spoke and the X. need business X to about and take earnings urgent to since last published almost letter QX year, In with I implement been a faced significant year I I and Slide want challenge challenges the to to
financial past team the our has the top-line rebuilt organization. and our to hundreds year, Over of position, which the improved tirelessly has strengthened deliver small trajectory improvements worked
started for I same the while services. are has mission this and is, local At accomplished, am experiences just proud of our we to extremely on getting feeling the become what my team time, ultimate destination
and are we understanding a mainly internal delivering partners. and shifting to strong projects impact our our people, have challenges of that will made our consumers more internal both means company Now merchant efficient, improvements focus customers, which mechanics, processes, which we from
opportunities much We front have than us, more execute. our current capacity of in many to
laying taking more projects bottom sacrifice avoiding a temporary the for top a capacity our from the to agile Many line approach execute. for the or to up high shortcuts and to become increase line Groupon foundation are to to rebuilding sugar that juice bottom We and game current end are us long-term results.
changing stacks to become and We company. our are technology-first a Groupon redoing technology
to execute. go on understand will our market take huge we time a we lift side supply interact how is to changing are how This customers. We and the with and and
use use are improve to to leads sales see opportunity of and our AI leverage AI to AI-driven based We sales, generate business. communication across looking massive efficiency. a In on also to benefit the inventory needs our we
tools on progressing are create the and higher-quality We customer of deal help copy us page AI support. our to improve efficiency to
our building more really is engagement using progress customers' on reduce about our satisfaction performance is improvements while changing sides of phase to way. our expect to in the we and Groupon. both increase And problems, and in transformation overall in financial Success trust not show our friction, with solve do earn marketplace, linear, experience always along
X. Slide
continues. front-end to project stock Our our re-engineer
reaching of without performance. X% jeopardizing As new can behind traffic, X% front my front After which end start most are our ramping point at where for end running is this currently we we expectations. new of of the our QX, is at week,
the new the X and and conversion many focused We of that search issues page layout. now two have blockers, hurt with deal relevance fixed main and front-end resolving on
significantly up for in ramp and weeks. web to America the expect North coming touch in We traffic
app will to turn app to to LinkedIn out NA For will which to America After end shortly is is new company's in those interested next new on turn we a we after. posting expect international we the try the Once roll ramped, America week, launch front the front we touch web link markets. will North and North page. end be out ramped, fully
why we doing this. are investors remind To
years many Our and legacy together over was cobbled many platform acquisitions.
different with to own technology As similar stacks, embarked their a stacks. years and single different companies simplification platform X several one each projects stacks inefficiencies legacy on challenges have really different result, Other their our manage taken into front have require people that is end. who consolidate the to
currently in XX. are month We
for deliver agility will We enable to and and do kind customers that believe launch project speed opportunity expect and amazing faster versus testing this us of features us weeks give in the will breadth learning. new new this to us We innovate give months. to to capabilities
deliver get is would like new for product enhancements. us can with their to into visibility more I'm we efforts, to customer We will funnel, see thank the also I platform do it once enabling our tireless much released. and our what excited further to team
Slide gifting other in last QX and from X. Last giftable had I season. specifically wanted seasons. a Repositioning growth and from uplift Gifting. we and benefited Groupon the experiences, gifting that the that big minute typically was to role thesis benefited to test experience key historically a validate marketplaces play bigger Groupon highlighted strategic retailers not a holiday in gap that had quarter, -- not during been
base, X to experiences, with saw giftable a Christmas. December, a front-end constrained weeks legacy before despite before Overall, the XXXX our very increase experience versus in starting the and I off day for XX% for highest opportunity that Christmas peaking XXXX. XX% platform, am on demand last-minute vX.X of significant the gifting report and small gift data month the happy indicates orders versus a approximately we
ranging orders gifting at of orders between looking when wide our XX%. a as a and adoption the gifting of observe countries, gift total percentage And we variance X% with across
about gifting opportunities we the numerous on to the forward, continue gifting our side, U.S. see efforts customers benefits Going experiential of Groupon market. at will focus the marketing a and educate with on we the year throughout
on have our are and our the side, also to to taking On of legacy platform gifting we are improvements new on for long list end. gifting product proposition our a making our learnings new we iterate front
just consumers to side, a great for QX gifting These holiday giftable. untapped but and market highlight for supply just we option build We Groupon for with all to underway that special traditional season are to turn work examples are of the we can to Groupon believe expanding occasions. products. a large a an On make round are initiatives year their excited giftable our offering giftable the experiences merchants the are not more few
Groupon market a to showcases leading of can I our a and last-minute time, ability become quickly opportunity. execute and move for Gifting that business gifting experiences. become believe team destination can the on a Over us for big also giftable
significant are business. opportunities Going forward, our there across
is of what the So case team can this deliver. a nice study
and I assortment deals Slide management how connected impressions. we our our holiday am we marketing with distribute an execution as the X. a performance improved management. of season with Marketplace Overall, during active push daily pleased of
customers Our saw quarter. business improving and and responded the throughout in we our trends uplift
relevance the website, it saw market. visitors of channels rate of channels, to to distribution of and saw of number important we of delivered priority and and traffic. in early, in we we and paid very an side unique improved actively early us continues algorithm the be driven growth by display. ROI direct channels, improve on Within in our including while traction influencer revamped grow Search impressions. manage our improving we our trends And marketplace, decline SEM continuing while affiliate for in the is success paid targets as demand the desired in the On visiting our
on reliance on continue we our initiative reduce promotional spend. Finally, to our
promotional of our health paid the towards have before, spend we improving is a improving mix marketplace. discussed As between marketing the key step and
and signals. vertical with supply enterprise the our our both we On Do side to marketplace, in long the to amount to continue existing see Things we other the after they Groupon, return want are of increase companies encouraging platform hiatus of accounts strength do and where companies To business see
Last modern part our as the we year, needs city of for planner nuances. and local model transformation, original reimagined
seeing beginning are where on out. micro approach to effort off this strength Our we in pay local rolled as initiative is was markets this
to and at on regions, reps We strategy a X double was our driving in Earlier local to sales level. local where are leadership, in marketplace down our into focus deal go-to-market manage dedicated U.S. and announced quality. managers to for I shift sales with planning a assortment our plan responsible our Chicago week, we regional with the this
this we team we we partner this rolled have Groupon. value XX% proactive management seen success for merchant Finally, accounts. team of our our with as highest shifting we Over in This I have our cycle will retention quarter, and out tools, organization time, Based full sales merchant life culture success. focused processes account have to continue business. support managing program, on a our top partner our existing to more help merchant and the and partners on drive responsible partners one-on-one is mentioned revenue of new build with around expanded success actively the business more last expect
Slide XX.
market scaled of OTAs in dollars. is the about markets, going with Let XX-year-old I hundreds a excited the for other early there with such other The experience market company marketplaces in percentage expect this delivery is create transacted a large to those are secure why increasing capitalization see It's combined me rivaling service and and opportunity. relatively of we in billions to an still days markets, the thoughts growth on we for Groupon Zero. ridesharing, services continue value Groupon at market of In market prospects Day be shareholders. for and future, ourselves to a close few online fueling the be local online hotels. as and massive, but experiences
margins marketplace has that X-sided execution. fixed and Our attractive growth is It that a cost leveraged local can level. proper a a model base with gross operates at be business horizontal and
done attractive side capital shown be local requirements. business the Internet from assets. and dimension, low effects, As network model, can extremely in will other replicate categories, the And scale easy it benefiting when supply not our be economies our given right, marketplace to of
Groupon $X.X billion XX with sessions countries over in customers. month million active has XX global scale, and in over visitor operating million XX billings, per
We our have with Once leverage value an buy we engage to brand customer underleveraged the our consumers proposition, X brand come, been Groupon. times. believe recognition to we used asset we and in has that improve billion over can reengage
economic quality, with and functional approach emphasizing value a We for inspiration merchant a strategically are towards successful drawing proposition starts playbook that a shifts and model partners. developing supply-first from transformation
with the market consumers center. the are opportunities at have our rebuilding price are both we ability convenience multiple We Today, and partners. our consumer improve more proposition and for merchant trust to opportunities execute. There than to experience
an and love of drive, ambition, A+ passion, with intensity, team our work. continuous assembling a mindset game the are partnership egos, for and skin first, management group mindset in no We
of that get We ownership. and applying as we tackle high-performance drive X team toughness a We in are culture hard years extreme principle win. believe XX are a sports where with people We ourselves we building can the totally see years. experience humble, problems to environment reasoning, first providing to meritocratic execution and values excellence, are talented hands-on,
For find the and you reading culture my I can those personal of building, recommend assessment, appendix to interested mentality are earnings our the understand which we in slides.
with mindset ready aligns If and you see mission, dedicate out of regardless reach you to you yourself know approach are open. positions or you the the please and anyone the to
and both conditions. experiences be economies, to for that Groupon in In them. economic a place a are getting to we and perform growing they We love building variety shrinking people of love and deals good want
Our merchant increase case which yield as a a when partners platform use have historically Groupon's used tool, management demand slows. can
finally, And more sheet go Jiri concern which have balance our and our steps taken to will going details. issue, we into address strengthen
for Groupon -- value and For successful it's these that drive reasons, ability those the other superior belief has through creation a to transformation. my
thank want the team. to I take Jiri, opportunity Before not to turn Transformations the the call are over I Groupon easy. to
to across drive continue changes our and business. ask asked to have We our teams significant
energy -- Our the as passion team merchant and partners. and our and innovating team responded with deliver for to work users I'm on to our excited we on mission. our shown has proud dedication of the together focus of and resilience faster has
that, Jiri. I With to over it turn will
