Business
Bumble Inc. Announces Third Quarter 2022 Results
Total Revenue Increased 17% to $233 millionBumble App Revenue Increased 28% to $181 millionBumble App Paying Users Increased 36% to 2.1 million; Grew 164,000
About this update from Bumble Inc.
[{"type":"text","content":"Total Revenue Increased 17% to $233 millionBumble App Revenue Increased 28% to $181 millionBumble App Paying Users Increased 36% to 2.1 million; Grew 164,000 Quarter Over QuarterNet Earnings of $26 million; Adjusted EBITDA of $62 million AUSTIN, Texas, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Bumble Inc. (NASDAQ: BMBL), the parent company of Bumble, Badoo, and Fruitz, today reported financial results for the third quarter ended September 30, 2022. \"Our third quarter results support our view that love and connection are fundamental and enduring human needs,” said Whitney Wolfe Herd, Founder and CEO of Bumble Inc. “We continue to see resilient usage and engagement trends across our family of apps. Bumble App continued to gain share across most major markets while driving record paying user additions and we also made encouraging progress with Badoo. We remain confident that we are well positioned to capitalize on the long term-opportunity ahead of us.\" Third Quarter 2022 Financial and Operational Highlights:(All comparisons relative to the Third Quarter 2021) Total Revenue increased 16.8% to $232.6 million, compared to $199.1 million. This includes an unfavorable impact of $14.0 million from foreign currency movements year over year. Bumble App Revenue grew 27.9% to $180.6 million. This includes an unfavorable impact of $7.0 million from foreign currency movements year over year.Badoo App and Other Revenue declined 10.2% to $52.0 million. This includes an unfavorable impact of $7.0 million from foreign currency movements year over year. Total Paying Users increased to 3.3 million, compared to 2.9 million.Total Average Revenue per Paying User (\"ARPPU\") increased to $22.96, compared to $22.81.Net earnings was $26.4 million or 11.4% of revenue, compared to net loss of $10.4 million, or (5.2)% of revenue.Adjusted EBITDA was $61.8 million, or 26.6% of revenue, compared to $54.5 million, or 27.4% of revenue. “Our business continued to perform well, even as the macro environment became more challenging,” said Anu Subramanian, Chief Financial Officer of Bumble Inc. “We delivered solid top-line growth, while exceeding our adjusted EBITDA outlook in the third quarter. We will continue to operate with discipline as we strive to deliver profitable long-term growth for our shareholders.” Key Operating Metrics: The following metrics were calculated...