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,
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,
Alphabet Inc.’s App Store and GOOG,
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%.