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Jun 30, 2024
Grindr Q2 2024 Earnings Report
Reported a revenue growth of 34% and raised revenue and Adjusted EBITDA guidance.
Key Takeaways
Grindr Inc. reported strong second quarter results with a 34% revenue increase to $82 million. The company raised its full-year guidance to 27% or greater revenue growth and a 42%+ Adjusted EBITDA margin. Operating income was $25 million, with a net loss margin of 27% and an Adjusted EBITDA margin of 45%.
Second quarter revenue reached $82 million, a 34% increase year-over-year.
Operating income was reported at $25 million.
Net loss margin was 27%, while Adjusted EBITDA margin was 45%.
Full-year 2024 revenue growth guidance raised to 27% or greater, with an Adjusted EBITDA margin of 42% or higher.
Grindr
Grindr
Forward Guidance
Grindr raised its full-year 2024 guidance to 27% or greater revenue growth and a 42%+ Adjusted EBITDA margin.
Positive Outlook
- Increased confidence in 2024 outlook.
- Focus on delivering more for users.
- Driving continued performance momentum.
- Progressing toward long-term vision.
- Strong execution.
Challenges Ahead
- Impact of the regulatory environment and complexities with compliance.
- Ability to address privacy concerns and protect systems and infrastructure from cyber-attacks.
- Success in retaining or recruiting key personnel.
- Ability to respond to general economic conditions.
- Competition in the dating and social networking products and services industry.