Grindr Q1 revenue $55.8M (+28% YoY) but net loss $32.9M on warrant & tax items; reaffirms guidance

Grindr Inc.

2023-Q1 EPS reported -$0.19 revenue$55,809,000

Revenue $55.8M, up 28% YoY; adjusted EBITDA $22M (39% margin).
Net loss $32.9M vs net income $4.5M prior year; swing from warrant liability ($15.3M) and tax provision ($15.5M).
Average paying users 866k (+20% YoY); ARPPU $18.52; MAU 12.8M (+9%).
FY2023 guidance reaffirmed: revenue growth 25%+ and adjusted EBITDA margin 38%+.
Operating income $8.6M (15% margin), down slightly from $8.8M; product dev expenses up 53% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Grindr Inc. reported first quarter ended March 31, 2023 results: revenue $55.8 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $55.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The team grew revenue 28% year-over-year to $55.8 million, reflecting higher paying user penetration and average revenue per paying user (ARPPU) through adoption of new products and a la carte offerings. Our adjusted EBITDA margin remains healthy at 39%. Both revenue growth and adjusted EBITDA margin are slightly above our FY23 guidance, which we reaffirm.

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Source: SEC EDGAR

accession 0001140361-23-024741

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