Groupon 2013 Annual Report Download - page 48
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40
Results of Operations
Comparison of the Years Ended December 31, 2013 and 2012:
Year Ended December 31,
2013 2012
(in thousands)
Revenue:
Third party and other ................................................................................. $ 1,654,654 $ 1,879,729
Direct.......................................................................................................... 919,001 454,743
Total revenue........................................................................................ 2,573,655 2,334,472
Cost of revenue:
Third party and other ................................................................................. 232,062 297,739
Direct.......................................................................................................... 840,060 421,201
Total cost of revenue............................................................................ 1,072,122 718,940
Gross profit ................................................................................................... 1,501,533 1,615,532
Operating expenses:
Marketing................................................................................................... 214,824 336,854
Selling, general and administrative............................................................ 1,210,966 1,179,080
Acquisition-related (benefit) expense, net ................................................. (11) 897
Total operating expenses....................................................................... 1,425,779 1,516,831
Income from operations ............................................................................. 75,754 98,701
Loss on equity method investments.............................................................. (44) (9,925)
Other (expense) income, net ......................................................................... (94,619) 6,166
(Loss) income before provision for income taxes ..................................... (18,909) 94,942
Provision for income taxes............................................................................ 70,037 145,973
Net loss ......................................................................................................... (88,946) (51,031)
Net income attributable to noncontrolling interests...................................... (6,447) (3,742)
Net loss attributable to Groupon, Inc. ...................................................... (95,393) (54,773)
Adjustment of redeemable noncontrolling interests to redemption value .... — (12,604)
Net loss attributable to common stockholders ......................................... $ (95,393) $ (67,377)