Grindr Inc. · NYSE:GRND
Grindr — Q2 2024 Earnings Presentation
17 slides from Grindr's earnings presentation, Aug 8, 2024
Slide 1: Shareholder Letter Second Quarter 2024
Q2 2024 Shareholder Letter Second Quarter 2024 August 8, 2024 LETTER TO SHAREHOLDERS 1
Slide 2: Dear Grindr Shareholders
Q2 2024 Dear Grindr Shareholders, Grindr delivered outstanding Q2 results. Our outperformance was driven by continued MAU growth, higher conversion rates, and robust growth in our advertising business. Given the strong performance we’ve seen so far in 2024, we are raising our full year guidance. We
Slide 3: AI features, a-la-carte offerings and Gayborhood expansion
Q2 2024 Our goal within our roadmap is to build early AI features that will provide us with a better understanding of how our users interact with AI and inform longer-term integration of AI across the app. For example, we are creating the Grindr Wingman, an all-purpose assistant to help users naviga
Slide 4: Looking Ahead
Q2 2024 Looking Ahead We are in the early stages of an exciting monetization journey. Our unique and powerful relationship with our users, our global brand, our strong engagement, and our performance-driven team culture provide a sturdy foundation upon which we can build a great product and company.
Slide 5: Q2 Business Highlights
Q2 2024 Q2 Business Highlights Enhancing User Experience In the second quarter, we enhanced our paid tier and improved merchandising of premium features, leading to higher conversion of free to PRODUCT DEVELOPMENT paid users. Our goal with these enhancements was not only to Premium improve monetizat
Slide 6: Grindr en Español and Global Outreach
Q2 2024 Grindr en Español As we mentioned at Investor Day, the international market is a significant opportunity for us, which we expect to pursue NEW SERIES over the mid- and long-term. Hablando As part of our nascent effort to create better localization, en Grindr in Q2 we launched a Spanish socia
Slide 7: Q2 Financial & Operating Performance
Q2 2024 Q2 Financial & Operating Performance We had an exceptional second quarter, marked by outstanding performance across all of our financial and key user metrics. Our strong performance was driven by better merchandising of our premium features, enhancements to our paid tiers, and the successful
Slide 8: Revenue, Operating Expenses, Net Loss
Q2 2024 Revenue Revenue $82M ($ in millions) Direct Revenue increased by 31% year-over-year to $72M $75M $70 million, driven by growth in both average paying $70M users and ARPPU. $62M Indirect Revenue grew nearly 50% year-over-year to $12 million, fueled by momentum in third-party ads (TPAs). We’ve
Slide 9: Adjusted EBITDA, Free Cash Flow, Outlook
Q2 2024 Adjusted EBITDA Adjusted EBITDA was $37 million, or 45% of total revenue, in Q2 2024. Relative to Q2 of last year, Adjusted EBITDA grew by $10 million, or 37%, as we benefited from robust revenue growth driven by our exceptional advertising business line performance and continued momentum in
Slide 10: Performance Metrics and Conference Call
Q2 2024 Performance Metrics Q2 2024 Average Paying Users 1.1M Average MAUs 14.1M Average Paying User Penetration 7.5% ARPPU $22.08 Conference Call Grindr will host a conference call to discuss these results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time), August 8, 2024. The live audio webcast, a
Slide 11: Condensed Consolidated Balance Sheets (unaudited)
Q2 2024 Grindr Inc. and subsidiaries Condensed Condensed ConsolidatedConsolidated Balance Sheets (unaudited) Balance Sheets (unaudited) (in thousands, (in thousands, except share data) except share data) LETTER TO SHAREHOLDERS 11
Slide 12: Consolidated Statements of Operations and Comprehensive Loss
Q2 2024 Consolidated Statements of Operations and Comprehensive (Loss) Grindr Inc. Income (unaudited) (in thousands, except per share and and Subsidiaries share data) Consolidated Statements of Operations and Comprehensive Loss (unaudited) (in thousands, except per share and share data) LETTER TO SH
Slide 13: Condensed Consolidated Statements of Cash Flows
Q2 2024 Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands) LETTER TO SHAREHOLDERS 13
Slide 14: Adjusted EBITDA and Free Cash Flow
Q2 2024 Grindr Inc. and subsidiaries Adjusted EBITDA and Free Cash Flow Adjusted EBITDA (in thousands) (1) (2) (3) (4) LETTER TO SHAREHOLDERS 14
Slide 15: Forward Looking Statements
Q2 2024 Forward Looking Statements This letter contains “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 regarding Grindr’s current views with respect to our industry, operations, and future business
Slide 16: Non-GAAP Financial Measures
Q2 2024 Non-GAAP Financial Measures Grindr uses Adjusted EBITDA, Adjusted EBITDA margin, and free cash flow, which are non-GAAP measures, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may differ from similarly titled measures used by other compan
Slide 17: Trademarks and About Grindr
Q2 2024 Trademarks This letter may contain trademarks of Grindr. Solely for convenience, trademarks referred to in this letter may appear without the ® or TM symbols, but such references are not intended to indicate, in any way, that Grindr will not assert, to the fullest extent under applicable law