Bumble stock soars after online dating company optimistic about user growth

Shares of Bumble Inc. rose more than 16% in after-hours trading on Tuesday after the online dating company released upbeat user growth figures.

The Bumble app had 1.64 million paying users in the fourth quarter, up from 1.27 million a year earlier. The FactSet consensus was for 1.59 million paying users of the Bumble app.

Overall, Bumble BMBL,
+2.65%
had 2.98 million users on its properties, while the FactSet consensus was 2.93 million.

The company generated a net loss of $14.7 million, or 8 cents per share, in the fourth quarter, compared with a loss of $26.1 million, or 1 cent per share, in the prior quarter. Analysts tracked by FactSet had expected a loss of 2 cents per share on a GAAP basis.

Bumble also posted adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $54.8 million, up from $44.1 million a year earlier, when the FactSet consensus was $53.5 million. dollars.

Revenue for the quarter rose to $208.2 million from $165.6 million a year ago, while analysts tracked by FactSet were looking for $209.6 million. The company said its total revenue for the last quarter included $150.5 million from the Bumble app and $57.7 million from the Badoo app and other sources.

Bumble has revealed that it plans to shut down its operations in Russia and remove its apps from Apple Inc.’s AAPL,
-1.17%
Alphabet Inc.’s App Store and GOOG,
+0.64%

GOOGL,
+0.57%
Google Play Store in Russia and Belarus. Total revenue from Russia, Ukraine, and Belarus was about 2.8% of the company’s total in 2021, mostly from Badoo and other sources. The three countries accounted for less than 0.1% of Bumble app revenue.

For the first quarter, the company expects total revenue of $207 million to $210 million, as well as adjusted Ebitda of $47 million to $49 million. The FactSet consensus was $211.5 million in revenue and $53.7 million in Adjusted Ebitda.

Looking to the full year, Bumble expects revenue of $934-944 million and an Adjusted Ebitda margin of 26.5%-27%. Analysts tracked by FactSet had forecast revenue of $939.1 million and an adjusted Ebitda margin of 26.6%.

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