Slide 1: Letter to Shareholders
Q4 2024 LETTER TO SHAREHOLDERS FOURTH QUARTER AND FISCAL YEAR 2024 | MARCH 5, 2025 LETTER TO SHAREHOLDERS 1
Slide 2: Dear Grindr Shareholders
Q4 2024 Dear Grindr Shareholders, 2024 was a landmark year for Grindr. We grew full-year revenue 33% year-over- FY 2024 year to $345 million with an Adjusted EBITDA Achieved 33% year-over- margin of 43% - well ahead of guidance - driven year revenue growth, with an by our relentless focus on user ex
Slide 3: 2025 accelerated roadmap and four key priorities
Q4 2024 Our accelerated roadmap is propelling us forward even faster than planned - enabling us to begin to show the world in 2025 what it really means to be the Global Gayborhood in Your Pocket. Through all of these achievements, we are delivering substantial value to our company, users, and shareh
Slide 4: First annual product roadmap released in January
Q4 2024 In January, we released our first annual product roadmap including: Chat Summaries Explore Heatmap Discover Quick recaps of chat Visualizes hotspots A new space serving relevant histories powered by in neighborhoods user profiles from around the Wingman AI and cities world based on interests
Slide 5: Marketing strategy and team growth
Q4 2024 Our marketing strategy will continue to be centered around Grindr-created content, bringing the full reality and future possibilities of the Global Gayborhood to life in a way our audiences will relate to and positively engage with. This will in turn build deeper user trust and stronger part
Slide 6: Closing message from the CEO
Q4 2024 The foundation we’ve built in a short amount of time leaves me truly inspired about what Grindr can accomplish. We strive to be aspirational and dream of audacious possibilities - because, in this company’s lifetime, we’ve seen once impossible ideas, like gay marriage, become reality. The im
Slide 7: Review of 2024 Key Priorities
Q4 2024 Review of 2024 Key Priorities Innovating for User Intent In 2024 we began rolling out a number of transformative features that are redefining how users engage with Grindr, all while preserving and enhancing Grindr’s core as the best place in the world for gay and bi- men to meet and build co
Slide 8: 2024 Product Highlights
Q4 2024 2024 Product Highlights Right Now, Grindr’s first intent-based product for enabling people to easily find others who want an immediate intimate connection. Testing in 2024 has gone well - stay tuned for more news on Right Now in coming months. RoamTM is now live globally and allows users to
Slide 9: Shaping our Brand, Building an Exceptional Team
Q4 2024 Shaping our Brand In 2024, we made significant strides in evolving Grindr’s perception from “just a hookup app” to the Global Gayborhood in Your PocketTM. Our aim is to evolve from broad recognition to a brand users love, trust, and recommend - one that feels essential to their lives. This s
Slide 10: Serving the LGBTQ+ Community Through Grindr for Equality
Q4 2024 Serving the LGBTQ+ Community Through Grindr for Equality Grindr’s north star is our vision to help make a world where the lives of our global community are more free, equal, and just. Through Grindr for Equality, we advanced this mission in 2024 through initiatives that drove meaningful chan
Slide 11: 2024 Financial & Operating Performance
Q4 2024 2024 Financial & Operating Performance 2024 was an exceptional year, capped by a strong fourth quarter. We exceeded our expectations on both top and bottom line, with sustained growth across key user metrics. In Q4, average monthly active users, average paying users, and average direct reven
Slide 12: Revenue and Operating Income
Q4 2024 Revenue Revenue for the fourth quarter of 2024 was $98 million, up 35% year-over-year from $72 million in Q4 2023. Direct Revenue, consisting of our core app products, grew 28% year-over-year to $80 million, while Indirect Revenue, which is our advertising business, surged 85% to $18 million
Slide 13: Net Income (Loss) and Adjusted EBITDA
Q4 2024 Net Income (Loss) Grindr reported a net loss for the fourth quarter of 2024 of $124 million, compared to a loss of $45 million in Q4 2023, primarily driven by a $139 million non-cash loss from the change in fair value of the warrant liability. For the full year 2024, net loss was $131 millio
Slide 14: Share Repurchase Program and 2025 Guidance
Q4 2024 Share Repurchase Program On March 5, 2025, we announced that our Board of Directors authorized a two-year share repurchase program of up to $500 million of our common stock. We are aiming to return cash to shareholders in excess of investments we believe are necessary for our core and gaybor
Slide 15: Performance Metrics and Conference Call
Q4 2024 Performance Metrics Q4 2024 2024 Average Paying Users 1.1M 1.1M Average MAUs 14.7M 14.2M Average Paying User Penetration 7.7% 7.6% ARPPU $23.46 $22.53 Conference Call Grindr will host a conference call to discuss these results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time), March 5, 2025
Slide 16: Adjusted EBITDA and Free Cash Flow
Q4 2024 Adjusted EBITDA and Free Cash Flow Adjusted EBITDA and Free Cash Flow (in thousands) (in thousands) Three Months Ended December 31, Year Ended December 31, ($ in thousands) 2024 2023 2024 2023 Reconciliation of net loss to Adjusted EBITDA Net loss $ (123,852) $ (44,763) $ (131,001) $ (55,768
Slide 17: Unaudited Consolidated Balance Sheets
Q4 2024 Unaudited Consolidated Balance Sheets (in thousands, except share data) LETTER TO SHAREHOLDERS 17
Slide 18: Unaudited Consolidated Statements of Operations and Comprehensive Loss
Q4 2024 Unaudited Consolidated Statements of Operations and Comprehensive Loss (in thousands) LETTER TO SHAREHOLDERS 18
Slide 19: Unaudited Consolidated Statements of Cash Flows
Q4 2024 Unaudited Consolidated Statements of Cash Flows (in thousands) LETTER TO SHAREHOLDERS 19
Slide 20: Unaudited Consolidated Statements of Cash Flows (continued)
Q4 2024 Unaudited Consolidated Statements of Cash Flows (continued) (in thousands) LETTER TO SHAREHOLDERS 20
Slide 21: Forward Looking Statements
Q4 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 22: Non-GAAP Financial Measures
Q4 2024 Non-GAAP Financial Measures Grindr uses Adjusted EBITDA, Adjusted EBITDA margin, free cash flow, and free cash flow conversion which are non-GAAP measures, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may differ from similarly titled mea
Slide 23: Key Operating Measures, Trademarks, About Grindr
Q4 2024 Key Operating Measures Our key operating measures include Average Paying Users, Average Monthly Active Users (Average MAUs), Average Paying User Penetration, Average Direct Revenue per Average Paying User (ARPPU) , and Average Total Revenue Per User (ARPU). We define our key operating measur