Groupon 2013 Annual Report Download - page 64
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56
Results of Operations
Comparison of the Years Ended December 31, 2012 and 2011:
Year Ended December 31,
2012 2011
(in thousands)
Revenue:
Third party and other ................................................................................. $ 1,879,729 $ 1,589,604
Direct.......................................................................................................... 454,743 20,826
Total revenue........................................................................................ 2,334,472 1,610,430
Cost of revenue:
Third party and other ................................................................................. 297,739 243,789
Direct.......................................................................................................... 421,201 15,090
Total cost of revenue............................................................................ 718,940 258,879
Gross profit ................................................................................................... 1,615,532 1,351,551
Operating expenses:
Marketing................................................................................................... 336,854 768,472
Selling, general and administrative............................................................ 1,179,080 821,002
Acquisition-related expense (benefit), net ................................................. 897 (4,537)
Total operating expenses....................................................................... 1,516,831 1,584,937
Income (loss) from operations.................................................................... 98,701 (233,386)
Loss on equity method investments.............................................................. (9,925) (26,652)
Other income, net.......................................................................................... 6,166 5,973
Income (loss) before provision for income taxes ...................................... 94,942 (254,065)
Provision for income taxes............................................................................ 145,973 43,697
Net loss ......................................................................................................... (51,031) (297,762)
Net (income) loss attributable to noncontrolling interests............................ (3,742) 18,335
Net loss attributable to Groupon, Inc. ...................................................... (54,773) (279,427)
Redemption of preferred stock in excess of carrying value.......................... — (34,327)
Adjustment of redeemable noncontrolling interests to redemption value .... (12,604) (59,740)
Net loss attributable to common stockholders ......................................... $ (67,377) $ (373,494)