8-K
filed February 27, 2024, 6:59 PM ET
ticker BMBL
CIK 0001830043
earnings
confidence high
sentiment neutral
materiality 0.85
Bumble Inc. (BMBL): restructuring charge — Bumble FY2023 rev $1.05B (+16%), net loss narrows; cuts 350 roles, $20-25M charge
Bumble Inc.
2023-FY EPS reported
-$0.03
revenue$1,051,830,000
- Q4 rev $273.6M (+13.2%), net loss $32M improved from $159.2M loss; adj EBITDA $73.7M (26.9% margin).
- FY2023 rev $1.05B (+16.4%), net loss $1.9M vs $114.1M loss; adj EBITDA $275.6M (26.2% margin).
- Bumble App paying users 2.7M in Q4 (+21% YoY); total paying users 4.0M (+16.4%).
- Board approved workforce reduction of ~350 roles; estimated $20M-$25M severance charges, mostly Q1/Q2 2024.
- Repurchased $136M shares in Q4; $143M remaining under $300M buyback program.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Bumble Inc. reported financial results for the full year ended December 31, 2023.
- Period
- the full year ended December 31, 2023
- Result
- reported results
Exact text from the filing
On February 27, 2024, Bumble Inc. (the “Company”) issued a press release announcing earnings for the fourth quarter and full year ended December 31, 2023. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein in its entirety.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Bumble Inc. reported financial results for the fourth quarter ended December 31, 2023.
- Period
- the fourth quarter ended December 31, 2023
- Result
- reported results
Exact text from the filing
On February 27, 2024, Bumble Inc. (the “Company”) issued a press release announcing earnings for the fourth quarter and full year ended December 31, 2023. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein in its entirety.
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Bumble Inc. announced a restructuring with charges of approximately $20 million to $25 million affecting global workforce (approximately 350 roles).
- Type
- restructuring
- Charge
- approximately $20 million to $25 million
- Affected area
- global workforce
- Headcount
- approximately 350 roles
Exact text from the filing
On February 27, 2024, the Company announced that it intends to reduce its global workforce by approximately 350 roles to better align its operating model with future strategic priorities and to drive stronger operating leverage. As a result, the Company expects to incur approximately $20 million to $25 million of non-recurring charges, consisting primarily of employee severance, benefits, and related charges, for impacted employees.
View on SEC.gov
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