Business
Bumble Inc. Announces Second Quarter 2023 Results
Total Revenue Increased 18% to $260 Million Bumble App Revenue Increased 23% to $208 Million Bumble App Paying Users Increased 28% to 2.5 Million; Grew
About this update from Bumble Inc.
[{"type":"text","content":"\nTotal Revenue Increased 18% to $260 Million\n\n\nBumble App Revenue Increased 23% to $208 Million\n\n\nBumble App Paying Users Increased 28% to 2.5 Million; Grew 139,000 Quarter Over Quarter\n\n\nNet Earnings of $9.3 Million, Adjusted EBITDA of $67.3 Million\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nBumble Inc. (NASDAQ: BMBL) today reported financial results for the second quarter ended June 30, 2023.\n\n\n“We believe our ability to deliver another strong quarter is a direct reflection of our commitment to creating Kind Connections for the millions of people using our products around the world,” said Whitney Wolfe Herd, Founder and CEO of Bumble Inc. “In addition to attracting a record number of paying users on Bumble, we’ve successfully launched BFF as a standalone offering, further stabilized Badoo, and expanded our portfolio of apps to meet the evolving needs of our members throughout their relationship journeys.”\n\n\nSecond Quarter 2023 Financial and Operational Highlights:\n(All comparisons relative to the Second Quarter 2022)\n\n\n\nTotal Revenue increased 18.5% to $259.7 million, compared to $219.2 million. This includes an unfavorable impact of $1.6 million from foreign currency movements year over year.\n\n\nBumble App Revenue grew 23.4% to $208.0 million, compared to $168.5 million. This includes an unfavorable impact of $1.6 million from foreign currency movements year over year.\n\n\n\nBadoo App and Other Revenue increased 2.0% to $51.8 million, compared to $50.7 million.\n\n\n\n\n\n\nTotal Paying Users increased to 3.6 million, compared to 3.0 million.\n\n\n\nTotal Average Revenue per Paying User (\"ARPPU\") increased to $23.23, compared to $23.51.\n\n\n\nNet earnings were $9.3 million or 3.6% of revenue, compared to net loss of $5.0 million, or (2.3)% of revenue.\n\n\n\nAdjusted EBITDA was $67.3 million, or 25.9% of revenue, compared to $54.8 million, or 25.0% of revenue.\n\n\n\n“We exceeded our second quarter outlook by continuing to execute on our strategic priorities while maintaining strong financial discipline,” said Anu Subramanian, Chief Financial Officer of Bumble Inc. “We believe the momentum we are experiencing across our family of apps sets us up to deliver profitable growth for our shareholders.”\n\n\nKey Operating Metrics:\n\n\nThe following metrics were calculated excluding paying users and revenue g...