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Mar 31, 2023
Grindr Q1 2023 Earnings Report
Grindr's Q1 2023 results were released, showing revenue growth and strong user engagement.
Key Takeaways
Grindr Inc. reported a 28% increase in first-quarter revenue, reaching $55.809 million. The company's operating income was $8.6 million, with an adjusted EBITDA of $22 million and an adjusted EBITDA margin of 39%. Grindr is maintaining its FY 2023 guidance of 25% or greater revenue growth and a 38%+ adjusted EBITDA margin.
Revenue increased by 28% compared to the previous year.
Operating income reached $8.6 million.
Adjusted EBITDA stood at $22 million, with a margin of 39%.
Full year 2023 guidance maintained with revenue growth of 25% or greater and adjusted EBITDA margin of 38%+
Grindr
Grindr
Forward Guidance
Grindr is maintaining its FY 2023 guidance of 25% or greater revenue growth and 38%+ adjusted EBITDA margin.
Positive Outlook
- On track to meet full year goals.
- Focus on improving user experience.
- Testing new subscription plans.
- Offering a la carte options.
- Introducing new product features to increase monetization.