Business
Bumble Inc. Announces Second Quarter 2024 Results
Total Revenue Increased 3% to $269 Million Bumble App Revenue Increased 5% to $218 Million Bumble App Paying Users Increased 15% to 2.8 Million; Grew 87,000
About this update from Bumble Inc.
[{"type":"text","content":"\nTotal Revenue Increased 3% to $269 Million\n\n\nBumble App Revenue Increased 5% to $218 Million\n\n\nBumble App Paying Users Increased 15% to 2.8 Million; Grew 87,000 Quarter Over Quarter\n\n\nNet Earnings of $38 Million, Adjusted EBITDA of $75 Million\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nBumble Inc. (NASDAQ: BMBL) today reported financial results for the second quarter ended June 30, 2024.\n\n\n“Our first chapter of the Bumble App launch delivered better women’s experiences and improved engagement,” said Lidiane Jones, CEO of Bumble Inc. “We are pleased with these early wins but it’s evident that to reignite the user growth engine for Bumble Inc. in the long term, we need to take a firm stance towards delivering customer value that goes beyond this launch. We are confident that the steps we are taking to strengthen our ecosystem, customer experience, and revenue strategy will revitalize our growth by making Bumble the best place for people to find successful and healthy connections in their lives.”\n\n\nSecond Quarter 2024 Financial and Operational Highlights:\n(All comparisons relative to the Second Quarter 2023)\n\n\n\nTotal Revenue increased 3.4% to $268.6 million, compared to $259.7 million. This includes an unfavorable impact of $3.4 million from foreign currency movements year over year.\n\n\nBumble App Revenue increased 4.8% to $218.0 million, compared to $208.0 million. This includes an unfavorable impact of $2.5 million from foreign currency movements year over year.\n\n\n\nBadoo App and Other Revenue decreased 2.2% to $50.6 million, compared to $51.8 million. This includes an unfavorable impact of $0.9 million from foreign currency movements year over year.\n\n\n\n\n\n\nTotal Paying Users increased to 4.1 million, compared to 3.6 million.\n\n\n\nTotal Average Revenue per Paying User (\"ARPPU\") decreased to $21.37, compared to $23.23.\n\n\n\nNet earnings were $37.7 million, or 14.0% of revenue, compared to net earnings of $9.3 million, or 3.6% of revenue.\n\n\n\nAdjusted EBITDA was $75.0 million, or 27.9% of revenue, compared to $67.3 million, or 25.9% of revenue.\n\n\n\n“We delivered second quarter results that were largely in line with our expectations,” said Anu Subramanian, CFO of Bumble Inc. “We are resetting our guidance today to reflect actions we are taking to position Bumble to reignite user growth, deli...