Business
Bumble Inc. Announces Third Quarter 2021 Results
Total Revenue Increased 24% to $201 millionBumble App Revenue Increased 39% to $142 millionRaising Full Year 2021 Revenue and Adjusted EBITDA Outlook AUSTIN,
About this update from Bumble Inc.
[{"type":"text","content":"Total Revenue Increased 24% to $201 millionBumble App Revenue Increased 39% to $142 millionRaising Full Year 2021 Revenue and Adjusted EBITDA Outlook AUSTIN, Texas, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Bumble Inc. (NASDAQ: BMBL), the parent company of Bumble and Badoo, today reported financial results for the third quarter ended September 30, 2021. “In the third quarter, we delivered strong revenue growth and successful execution across our strategic priorities including driving user engagement, expanding into new markets, launching innovative product and safety features, and improving our overall monetization,” said Whitney Wolfe Herd, Founder and CEO of Bumble. “We will continue to provide our customers with differentiated, innovative and compelling ways to find the connections they seek and to advance our mission of creating healthy and equitable relationships.” Third Quarter 2021 Financial and Operational Highlights:(All comparisons relative to the Third Quarter 2020) Total revenue increased 24% to $200.5 million. Bumble App Revenue grew 39% to $142.5 million.Badoo App and Other Revenue declined 3% to $58.0 million. Total paying users increased to 2.9 million.Total average revenue per paying user (\"ARPPU\") increased to $22.97, compared to $19.38.Net loss was $10.7 million and net loss margin was (5.3)%, compared to net loss of $22.8 million and net loss margin of (14.1)%.Adjusted EBITDA was $54.5 million, or 27.2% of revenue, compared to $53.7 million, or 33.1% of revenue. “Our strong results reflect continued growth in paying users and ARPPU. We also grew adjusted EBITDA year over year while continuing to make disciplined investments in product, marketing, and our people,” added Anu Subramanian, CFO of Bumble. “We believe we are well positioned for the fourth quarter, given our ongoing product and market leadership combined with the operating leverage in our cost structure. Based on these factors, we are raising our full year 2021 outlook for both revenue and adjusted EBITDA.” Key Operating Metrics: (In thousands, except ARPPU) Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Key Operating Metrics Bumble App Paying Users 1,532.6 1,282.1 Badoo App and Other Paying Users 1,333.4 1,457.7 Total Paying Users 2,866.0 2,739.8 Bumble App Average Revenue per Paying User $30.99 $26.67 Badoo App and Other Ave...