Groupon narrows FY24 revenue view to $495M-$515M from $489M-$515M

Consensus $520.25M. Lowers FY24 adjusted EBITDA view to $65M-$80M from $80M-$100M. Says EBITDA guidance down due to lower Q3 outlook and our expectation to increase spending on marketing and ramping up the sales organization. Says while still expects revenues to inflect to a sustained positive growth trajectory, now expects the timing to be more back-end loaded towards the fourth quarter. Says the final trajectory of the year will depend on a variety of factors, including the delivery of certain projects such as new consumer front-end. Says possible that the company will rebalance some of the payment methods which were deprioritized last year.