Business
Bumble Inc. Announces Second Quarter 2021 Results
Total Revenue Increased 38% to $186 millionBumble App Revenue Increased 55% to $127 millionRaising Full Year 2021 Outlook AUSTIN, Texas, Aug. 11, 2021 (GLOBE
About this update from Bumble Inc.
[{"type":"text","content":"Total Revenue Increased 38% to $186 millionBumble App Revenue Increased 55% to $127 millionRaising Full Year 2021 Outlook AUSTIN, Texas, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Bumble Inc. (NASDAQ: BMBL), the parent company of Bumble and Badoo, today reported financial results for the second quarter ended June 30, 2021. “In the second quarter, we remained focused on executing against our strategic priorities and delivered strong growth in paying users, engagement and monetization across both Bumble app and Badoo app. Our results are a reflection of the appeal of our mission, and the result of the investments we are making in our product offerings, our technology, our international expansion efforts, and our ongoing commitment to our members. More people across the globe are benefiting from our brands, given the growing desire for healthy and equitable relationships,” said Whitney Wolfe Herd, Founder and CEO of Bumble. Second Quarter 2021 Financial and Operational Results: (All comparisons relative to the Second Quarter 2020) Total revenue increased 38% to $186.2 million.Bumble App Revenue grew 55% to $127.3 million.Badoo App and Other Revenue grew 11% to $58.9 million.Total Paying Users increased 20% to 2.9 million.Total average revenue per paying user (\"ARPPU\") increased to $20.88, compared to $18.12.Net loss was $11.1 million and net loss margin was (6.0)%, compared to net loss of $5.5 million and net loss margin of (4.0)%.Adjusted EBITDA was $51.9 million, or 27.9% of revenue, compared to $32.5 million, or 24.1% of revenue. “Our business delivered outstanding revenue growth in the second quarter, as we increased our user base and provided our members with innovative products that led to increases in paying users and ARPPU,” added Anu Subramanian, CFO of Bumble. \"Our Adjusted EBITDA expansion demonstrates that we are able to grow our business while scaling our cost structure efficiently. We are encouraged by the momentum we are seeing, and are pleased to be increasing our financial outlook for both revenue and Adjusted EBITDA for the year.” Key Operating Metrics: (In thousands, except ARPPU) Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Key Operating Metrics Bumble App Paying Users 1,473.0 1,079.3 Badoo App and Other Paying Users 1,454.3 1,352.9 Total Paying Users 2,927.3 2,432.2 Bumble App Average Revenue per...