Healthy Cash Flow:
Cash increased to roughly $144M in Q1 2026 from about $103M at year‑end, highlighting improved liquidity. Management also pointed to stronger cash generation exiting the quarter.
Cost & Operational Efficiency:
Adjusted EBITDA improved sequentially to $9.5M in Q1 2026 and the company is executing a $60M annualized cost‑savings program. Results were at or above the high end of guidance while expenses were being reduced.
Customer Loyalty & Retention:
The app segment delivered about 20% year‑over‑year GOV growth in Q1 2026 and surpassed 40% of total GOV, supported by conversion and rewards. This mix shift indicates healthier engagement even as headline volumes are pressured.
