Financial Data and Key Metrics Changes - Global billings grew 11% year over year, marking the second consecutive quarter of double-digit growth [3][4] - Adjusted EBITDA reached $18 million, exceeding expectations, while trailing 12 months free cash flow reached $60 million [4] - Marketing spend increased by 14% year over year, accounting for 37% of gross profit [46] Business Line Data and Key Metrics Changes - The core local category, which represents 89% of billings, grew 18% year over year, with North America local up 18% and international local (excluding Giftcloud) up 15% [4][5] - The "Things to do" segment experienced its seventh consecutive quarter of strong double-digit growth [5] Market Data and Key Metrics Changes - All four major international markets delivered a second consecutive quarter of double-digit growth [5] - Chicago has become the largest city for Groupon, growing at nearly double the rate of North America local overall [5] Company Strategy and Development Direction - The company aims to accelerate supply and growth towards a goal of over 20% billings growth while generating strong adjusted EBITDA and free cash flow [5][6] - There is a focus on building a hyperlocal experience marketplace that combines trust, curation, quality, and unbeatable value [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the foundation being built for becoming a trusted destination for quality local experiences [6] - The company is optimistic about the impact of AI on sales processes and customer interactions, expecting to enhance lead generation and customer service [39][42] Other Important Information - The company is implementing a Customer Data Platform (CDP) to improve personalization and customer journey optimization [24][51] - Progress is being made on the Italian tax settlement, with a proposed settlement receiving several approvals [63] Q&A Session Summary Question: Growth in Chicago - Management confirmed that Chicago local billings are growing in the high 30s due to focused sales resources and a better understanding of the market [9][10] Question: Purchase Frequency Among New Cohorts - Management noted improvements in repurchase rates among new customers compared to previous cohorts, attributing this to ongoing technology enhancements [22][23] Question: Marketing Strategy Balance - The company plans to balance direct response marketing with brand advertising, with a focus on measuring ROI and adjusting budgets based on performance [26][27] Question: Impact of AI Initiatives - Management discussed the integration of AI in sales processes and customer service, expecting it to enhance conversion rates and customer interactions [39][42] Question: Travel Business Performance - The travel segment has seen growth due to partnerships with large enterprise brands and better offerings aligned with customer needs [55] Question: Italian Tax Settlement Update - The company is making progress on the Italian tax settlement, with a remaining amount owed of approximately $15 million [63]