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Bumble revenue beats estimates; shares sink 9.4%

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July 25, 2024 2:51 PM
(GMT+2)

The online dating platform Bumble (BMBL:NASDAQ), a company that remains committed to its mission of creating a world where all relationships are healthy and equitable, reported better-than-expected results for Q3, which ended 30 September 2021. REVENUE AND EARNINGSAt a group level, Bumble delivered total revenue of $201 million, which was up from last year, and adjusted EBITDA of $54 million representing a 27% adjusted EBITDA margin.The Bumble app had an excellent quarter, with revenue of $142 million up 39% year-over-year, and representing more than 70% of total company revenue for Q3.The company saw strong engagement across the app with record levels of activity in monthly and daily active users, leading to total paying users of 1.5 million, up 20% year-over-year.The Badoo app and other revenue were down 3% year-over-year at $58 million for Q3. It remains the second most downloaded dating app in the world. According to third-party data sources, on a quarter-over-quarter basis, Badoo has continued to outperform overall market download trends in many of its top markets, including the UK, Spain, Russia, and the US.OUTLOOKAs the company prepares for many Badoo markets to emerge from COVID, Badoo is actively investing to release new features, strengthen product performance, and drive more safety and accountability on Badoo.Turning to Bumble Inc., the company continues investments in automation and AI-based technology to improve proactive detection of content and behavior that violates community guidelines.The company reported raising full-year 2021 guidance for both revenue and adjusted EBITDA. For Q4, it expects total revenue to be in the range of $208 million to $211 million, representing a growth rate of 27% at the midpoint.For the full year, the company expects revenue of between $765 million and $768 million. Surprisingly, however, following the earnings, shares fell 9.4% to close at $43.25 in the extended trade. Everything you need to know about stocks, trading and more with MEXEM.

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