Business
Bumble Inc. Announces First Quarter 2022 Results
Total Revenue Increased 24% to $211 millionBumble App Revenue Increased 38% to $155 millionBumble App Paying Users Increased 31% to 1.8 million; Grew 134,000
About this update from Bumble Inc.
[{"type":"text","content":"Total Revenue Increased 24% to $211 millionBumble App Revenue Increased 38% to $155 millionBumble App Paying Users Increased 31% to 1.8 million; Grew 134,000 Quarter Over Quarter AUSTIN, Texas, May 11, 2022 (GLOBE NEWSWIRE) -- Bumble Inc. (NASDAQ: BMBL), the parent company of Bumble, Badoo, and Fruitz, today reported financial results for the first quarter ended March 31, 2022. \"I am pleased by our strong first quarter results,” said Whitney Wolfe Herd, Founder and CEO of Bumble Inc. “Bumble App drove substantial revenue growth across the U.S. and international markets and delivered a significant sequential increase in paying users by continuing to focus on a woman-first experience built upon trust, kindness and safety. Our compelling brands, product leadership, and operational excellence position us well to capture a growing share of the global dating market.\" First Quarter 2022 Financial and Operational Highlights:(All comparisons relative to the First Quarter 2021) Total Revenue increased 23.7% to $211.2 million compared to $170.7 million. This includes an unfavorable impact of $5.1 million from foreign currency movements year over year. Bumble App Revenue grew 38.0% to $155.4 million.Badoo App and Other Revenue, including Fruitz which was acquired in January 2022, declined 4.0% to $55.8 million. Total Paying Users increased to 3.0 million.Total Average Revenue per Paying User (\"ARPPU\") increased to $22.76, compared to $19.99.Net earnings were $23.9 million and net earnings margin was 11.3%, compared to net earnings of $323.4 million and net earnings margin of 189.5%.Adjusted EBITDA was $49.8 million, or 23.6% of revenue, compared to $46.1 million, or 27.0% of revenue. “We are off to an excellent start for fiscal year 2022, exceeding our outlook for revenue and adjusted EBITDA in the first quarter,” said Anu Subramanian, CFO of Bumble Inc. “Total revenue grew 24% year over year in Q1, propelled by Bumble App, which saw growth in both paying users and average revenue per paying user. We also continued to deliver strong economics, including adjusted EBITDA of $50 million and net earnings of $24 million. Even amid the current dynamic operating environment, we believe the underlying momentum in our business remains robust.” Key Operating Metrics: The following metrics were calculated excluding paying users and revenue generat...