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Groupon LogoGroup coupon start-up Groupon filed an updated S-1 filing with the SEC Tuesday, revealing that while Groupon’s business continues to grow at a steady rate, it’s also hemorrhaging money in the process.

The filing confirmed a boost in email subscribers, from 83 million in the first quarter of 2011 to a total 115.7 million in the second quarter. The company said over 23 million customers purchased group deals in 175 North American markets and 45 countries through the end of the second quarter 2011.

Groupon’s revenue increased from $644.7 million last quarter to $878 million in the second quarter of 2011. The company managed to cut marketing costs from $208 million in the first quarter to $170 million in the second quarter 2011. However, that didn’t positively impact its net losses, which remained flat at $102.7 million for both the first and second quarter of 2011–and almost triple the $36 million loss from the second quarter of 2010.

The company hired more than one thousand new employees in Q2 2011, and revealed a smaller increase in the number of North American merchants compared to past quarters. Both higher labor costs and increased competition from other group deal services likely contributed to Groupon’s net loss.

As previously reported, Groupon removed the shady ACSOI (Adjusted Consolidated Segment Operating Income) measurement from the updated filing. The unusual measurement, which leaves out marketing costs, will still be used internally, the company said in the filing.

The Chicago-based start-up first filed for a $750 million IPO in June.

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