GRPN - NASDAQ

Hello and welcome to Groupon's First Quarter 2023 Financial Results Conference Call. On the call today are our Interim CEO, Dusan Senkypl; and CFO, Jiří Ponrt. [Operator Instructions] As a reminder, today’s conference is being recorded. Before we begin, Groupon would like to remind listeners that the following discussion and responses to your questions reflect management's views as of today, May 10, 2023 only and will include forward-looking statements. As a result may differ materially from those expressed or implied in the company’s forward-looking statements. Additional information about risks and other factors that could potentially impact our financial results is included in our earnings press release and in our filings with the SEC. We encourage investors to use Groupon’s Investor Relations website at investor.groupon.com as a way of easily finding information about the Company. Groupon promptly makes available on this website the reports that the Company files or furnishes with the SEC, corporate governance information and select press releases and social media postings. On the call today, the company will also discuss the following non-GAAP financial measures, adjusted EBITDA, non-GAAP SG&A, free cash flow and FX-neutral results. In Groupon’s press release and our filings with the SEC, each of which is posted on our Investor Relations website, you will find additional disclosures regarding these non-GAAP measures, including reconciliations of these measures to the most comparable measures under U.S. GAAP. Unless otherwise noted, all comparisons are provided on an FX neutral basis. And with that, I'm happy to turn the call over to Dusan.

Operator Instructions] We'll take our first question from Trevor Young with Barclays.

We'll take our next question from Eric Sheridan with Goldman Sachs.

Thanks so much for taking the questions. Two, if I could, just coming back to the eight strategic pillars you laid out, I wanted to hone in on number two and number three. So in terms of how you might want to invest and arc or change the product experience to align it with modern market place standards. I'd love to go a little deeper there on what you see as some of the key white spaces to attack or areas of investment to possibly pursue. And then the second would be your third pillar. How should we be thinking about sort of arcing or changing the marketing engine inside the company to align more closely with lower funnel performance channels? How should we think about that in terms of either investments that need to get made or possibly changing some of the user funnel and user conversion pathways that the marketplace has had over time? Thanks so much.