Key Highlights

  • Groupon (NASDAQ:GRPN) indicated at USD 13.04 pre-market on November 10, 2026, down 19.75% from a calculated prior close of USD 16.25.
  • Third quarter Revenue rose 2% and billings rose 6%, while adjusted EBITDA fell to USD 14.7 million from USD 17.5 million, about 16% lower.
  • The company reported a loss from continuing operations of USD 0.8 million versus USD 117.8 million a year earlier, and cash of USD 177.4 million on September 30, 2026.
  • Fourth quarter guidance is revenue of USD 133 million to USD 136 million and adjusted EBITDA of USD 18 million to USD 23 million.

What Moved Groupon Pre-Market (-19.75%)

Groupon released third quarter 2026 results on November 9, 2026. Revenue grew 2% and billings 6%, both year over year, with FX-neutral billings also up 6%. Adjusted EBITDA was USD 14.7 million, down from USD 17.5 million, and the loss from continuing operations was USD 0.8 million against USD 117.8 million in the third quarter of 2025. Operating Cash Flow from continuing operations was an outflow of USD 43.2 million and free cash flow was negative USD 45.8 million. Cash ended the quarter at USD 177.4 million. The pre-market price of USD 13.04 is 19.75% below the calculated prior close of USD 16.25 from Monday, November 9.

The Rationale: Guidance and General Context

The company's guidance is the clearest candidate for the decline, although no published coverage confirmed it as the cause. Fourth quarter revenue is guided to USD 133 million to USD 136 million, flat to up 2%, with billings growth of 4% to 6% and adjusted EBITDA of USD 18 million to USD 23 million. Full-year revenue is guided to USD 500 million to USD 503 million, flat to up 1%, with adjusted EBITDA of USD 60 million to USD 65 million and free cash flow of at least USD 40 million. Because third quarter free cash flow was negative USD 45.8 million, the full-year cash target requires a large fourth quarter swing. As general context, stocks fall after results when profit declines despite revenue growth, when guidance sits below consensus, or when cash burn rises. These are general mechanisms, not confirmed causes. Groupon operates a local deals and experiences marketplace, so consumer spending trends and merchant Supply affect billings.

Valuation, Liquidity and Risks for Groupon

Published data from October 22, 2026 showed a Market Value of USD 660.40 million on 40.67 million shares, a 52-week price change of -24.08%, a 20-day average Volume of 865,077 shares and an average analyst target of USD 28.67 from three analysts. At USD 13.04 the market value would be about USD 530 million (calculated), and the cash balance of USD 177.4 million equals roughly USD 4.36 a share (calculated). Pre-market volume is thin, spreads can be wide and the open may differ materially from the indicated price. Average Daily Volume of 865,077 shares is modest for a company of this size. Risks include slowing growth of 2%, falling adjusted EBITDA, the heavy cash use shown in the quarter, convertible note obligations referenced as the 2027 and 2030 Notes, and Reversal risk. Nothing here implies the move will continue.

Where Things Stand

Groupon (NASDAQ:GRPN) is down 19.75% pre-market on November 10, 2026 after third quarter results showed 2% revenue growth, lower adjusted EBITDA and negative free cash flow of USD 45.8 million. No published coverage confirmed the cause, but the soft fourth quarter outlook is the likeliest candidate. Thin pre-market trading means the move can reverse.