2023-05-04 16:30:40 ET
Bumble ( NASDAQ: BMBL ) turned higher by 2.6% after hours Thursday following its first-quarter earnings, where the online dating company topped revenue expectations and posted a narrow loss while topping forecasts for paying users.
Revenues grew by nearly 16% to $242.9M, beating consensus (and including an unfavorable impact of $7.2M tied to currency movements).
Revenue breakout: Bumble App, $194.3M (up 25.9%); Badoo and Other Apps, $48.7M (down 12.6%).
Total paying users were more impressive, landing at 3.5M vs. expectations for 3.44M. Of those, Bumble App paying users rose to 2.32M.
And despite the user beat, average revenue per paying user rose to $22.83 (also topping consensus for $22.80). Bumble App ARPPU dipped to $27.93.
“In Q1, we delivered solid revenue growth and strong Bumble App paying user additions,” said CEO/founder Whitney Wolfe Herd.
“We believe the momentum in our business sets us up well to continue delivering profitable growth and we are reiterating our guidance for the full year," said Chief Financial Officer Anu Subramanian.
At quarter-end, cash and equivalents came to $389M, against total debt of $624M.
It's guiding to second-quarter revenue of $254M-$258M -- in line with expectations, and including Bumble App revenue of $205M-$208M -- and adjusted EBITDA of $64M-$64M.
For the full year, it sees revenue growth in a 16%-19% range (also in line with consensus), with the Bumble App growing 22-25% and adjusted EBITDA margin growth of at least 100 basis points.
Conference call to come at 4:30 p.m. ET .
For further details see:
Bumble gains as revenues, user growth top expectations in Q1