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detail our quarter results. third In addition, I which encourage you to review on XX-Q, contain our press release more and
at the end we issues high our various impacted guidance key revenue was low our I will to had disclosed America on EBITDA. as of start quarter many ended migrations. on previously but We technical today's tough our North highlights call by cover quarter. and the QX end platform our a the Overall, X third of on Slide beat despite related positives, business
into for consideration then me to deeper will dive remaining quarter, and and the highlights key point. I each use Let my the time outline
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positive needed growth. Just North us steps this like we in to business local, the additional in international gives return we confidence, know to development America local saw the
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both The market vertical. we this vertical we that have strongly for As faster our review positive a strength proposition, the business we the both customers. this and of value when proof our To vertical other online focused our platform correct marketplaces grew Do versus summer performance point the and that delivers Things than believe merchants is and competition, to market do our things on
product roadmap. reached XXX% increase will we feature new milestone XXX%, America and our of reaching material the North new an a Third, driver we be on future our mobile of development website. important already important seen web have of an in which desktop speed traffic in Since
gifting product to front new and video season. are expanded this features excited We to leverage customers bring our our end to like holiday during experiences
and to price. announce a an future an are agreement $XX pleased for important X.XX% this overall works, new raise sheet, acquisition and company. growth growth our our customer North in in Fourth, that on This North signal engine new a driver excluding are XXXX, growth new strike secured cohorts helped to for has debt, year-over-year active of goods. is million $XXX seeing balance the convertible Fifth, seeing customer America. we are stabilize we accounts, maturing we believe positive of customer America We coupon
to I with provide believe will navigate details Jiri additional more flexibility our financing transformation financial his remarks, attractive helps the at cover new terms. company of in While this to round
platform we we for while experience expect a a we third headwind to will the a financial retention provide time. in onetime did which fixed drop future our quarter, our migration rates period challenges many performance customers, of of of legacy Finally, in the
Turning X, International to Slide Local.
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see as Local have shoots, International as several made green expect we much overall While our Spain, and countries improve all we progress further. not to can
changes step our operate from not the minus quarter platform. back have markets on continue as big a to X% markets we plus third X% results Importantly, X, platform North quarter impact our moving tech we to seen to against a Local. largely America It in second international took to turning year-over-year. from those legacy our Slide significant compared
A X,XXX performance. in bridge basis this comments few point to change
and in consideration, those headwinds. that refunds First, reversed for had we quarter become variable after commenting and X this tailwinds quarters tailwinds
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multiple time, While we expect over decline initiatives at of improving to customer have legacy retention we aimed these cohorts customers.
year, customer year-over-year for QX legacy half improvement strong last the strong in foundation retention first during of setting legacy a a saw we example, For performance our in in XXXX. cohorts
retention decline a to Beginning continuing into in customers the July in prior period compared rates we legacy our August for and years. same observed in
and curves good. While that bounce migration audience seen stabilized possible have we the our in our of It's but it's in we that they this to fixed created back a retention friction QX, made come changes changes many segment certain September, not those lose of challenges a saw and possible back for also our platform yet enough curves. cohort we
cohorts drop North continue America to may the QX, in for time. legacy the of in in massive business. retention our our As setback Despite previously rates onetime see potential a performance stated, i customer Local financial to provide period future performance this a headwind of in
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our our at coverage of top The look room you if believe potential addressable level still indexing of not metro relative at we based market. best-performing basic example, going of on number and we category inventory. the significant have For improvements areas, rather a of size make by way but divisions the on measure weighted performance our we merchants, is to
positive the vying e-commerce to moving and of many as door leverage our still emerging fragmented local a first in entry serve is as itself deals are engine. pieces Internet the acquisition story its players the one there highly establish in XXXX commerce, while ecosystem was these front Groupon sought to X, launched Groupon of position to Groupon's points. customer When in new market to transformation, key Internet. Slide one
with and Today, new where opportunity engines few as for consolidated marketing a scalable engine who pilot to for to huge Internet Many the the build reposition a e-commerce has have matured a to marketplace at drive spend can our customers and campaigns measurable growing acquisition. on and because is channels is a Groupon established act of very and our traffic enormous the front This very this these and Internet the or customer consumers. of new of large our marketing heart we to acquisition platforms, firms doors scale last insight customer their ecosystem year platforms clear online acquiring of percentage high into built ROI. towards tapping and top
improve current to we good customer Our next hit marketing and commissions Groupon's time as a is channels subsequent lifetime customer is the spend XX. purchase. run prioritizing purchase initial a cohort When value will of with almost period. we X. X.Xx the we means they the Therefore, if as we philosophy initiatives cohorts month to expect at $XXX marketing It spending we profit reach are that a view, in new then new the ROI earn is our frequency to purchase look monthly be long payback customers. on immediate over $XXX, But by target approximately our their and back to our X-week year, ROI This we targets, of start.
to to of did targets related the campaigns. quarter, engineering. and impacts our observed marketing channel in election, in changes ROI efficiency. efficient we U.S. improvement to achieve product effectiveness Since the third what during campaigns election. the moving effectiveness our to a we the resulted largely saw September marketing our October, we are also we Slide the In an presidential platform marketing not our and In X reduce significant believe as have
tech the that International quarter. we initiatives. we unstable long-term any while reported reasonable then old highly our would Given would conclude that America, of to But stack, platform, this on. difficult product would to consolidated growing running business was future is tech And in a made result changes would on had as it our be anchor we old progress and our in serve have the North heavy be a would that believe on be building is not positive reporting future technical I growth. working extremely all our still not sustained tech debt which towards develop inefficient, quarter This we
one protect for has several technology performance short-term have for the our of rapid before as change to legacy situation, with we who multiyear willing growth projects my migrations come point I small performance a possible. other performance to eclipsed to iterations, move our of business where and some the as performance the Between improve to at drop component embark Groupon, my At of overall a companies In time old must performance. the we I'm new two, tech believe in I stack. on platform upgrades to impact the modify outside the of of platform. now performance. many transform it a been the one career, our order the also modernize slower our aware was stock given long-term see just But was as platform common platform I accept goals to through on sacrificing protect neutral to to quickly past quarters, was where the the
able to use growth. to excited revenue how a power new path be front-end platform flywheel we to as sustained to I'm will see the
for few we performance. of you Let what on. a examples Platform currently are me give working
able front customer faster, get Our be stable to us new experiences. will end more to
weekly superior have this be are and platform also the drive not should While we which conversions. to better new of we pace see more improvements believe end and as QX, strong will of legacy, SEM there, be traffic and position direction, us the higher we by we in SEO for to will able
while customer interactions value, like improved features pages frequency. AI-driven and increase merchant retention FAQs and optimized improve Global search content and visit customer targeting inspire and and personalized Increased flexibility. personalization relevance, reach new
new in Our early reach we expanded engage with can offerings. front-end U.S. Positive diverse mean population customers for and relevant app. language mainly results Spanish-speaking and the capabilities merchants,
we early NA, focusing holiday rollout in we don't we performance functionality fine-tuning the and with a want legacy have solid on and in support beta as to full App app. new With for are in sufficient XXXX, risk season, showing gifting
expect of We migrate markets first to international XXXX. the half during
Platform for future.
to times faster and can market We the expectations in new have development of significantly and ability development bring high speed. features terms to versus agility We see legacy.
more customer Gifting, are of gifting enter everyone. and we set receiving new experiences journeys QX into gifting for as roll holiday to and features make to another season, we excited out exciting
Video, early into would that content we still is coming in positive be improvements video of have have It's very video and the feature but have started to results. launch. to there pages merchant add struggled significant just example our will and early, legacy platform one months,
pages and Merchant merchandise pages.
new front customers from deal for them. offering our bring them on different category as be moving Groupon in will focus to interact surface points we the the pages. the a to to journey will help that target with also their This With page pages to build merchant right out at and and in consumers end place, allow find us main legacy
closing remarks. Before I the call let turn few Jiri, make a to me
progress made our groundwork for is I'm some despite sustainable The our we growth. and conclusion, the In platform have customer enhancing future. experience about transforming our in laying optimistic challenges,
Local promising and seen International positive how channels. our that response showing operate is progress our and in business we significant understanding right like and we the belief content marketplace the video sales features our signs new reinforces Our path. We've in are to on gifting
that, to journey. hard for Jiri. the believe innovation, for joining over express it We work their I is our you our yet best their worldwide I to for improvement this company. to unwavering and sincere continuous and our on to turn to come are will Thank partners teams committed investors my and want support. and us With gratitude I for to
