Bumble Hits Q1 Expectations Despite Dip, Acquires New Executives
Bumble Inc. reported a 7% decline in first-quarter revenue on Wednesday, but results aligned with analyst forecasts, helping to calm investor concerns over the company’s ongoing challenges in a competitive online dating market. The company’s stock rose 7% in after-hours trading following the announcement.
The dating app operator posted revenue of $247.1 million for the quarter, slightly above Wall Street’s expectation of $246.2 million. This figure includes a $5.9 million hit from foreign exchange fluctuations. Despite the year-over-year drop, the earnings report signals cautious optimism about Bumble’s ability to adapt and stabilize in a maturing market under economic pressure.
The number of paying users on Bumble’s flagship app declined by nearly 1%, totalling 2.7 million. In response, the company is focusing on product enhancements to reinvigorate engagement. These include AI-driven tools to improve user safety, verification, and matchmaking, as well as new dating coaching features.
“I would expect some additional price increases are going be in line here or forthcoming based on the way that management’s describing it,” said M Science research analyst Chandler Willison, pointing to a broader push to improve user experience. Another factor may also be the rapid growth of some competing apps, though no fault of Bumble’s own.
Alongside this, Bumble Inc. has appointed Julie Radford as its new Chief Communications and Corporate Affairs Officer, marking a notable leadership shift as the company works to reinvigorate its position in the online dating space. Radford, who served as chief of staff to Ivanka Trump during her time as a White House advisor, joined Bumble in April and will oversee global communications, public policy, employee engagement, and external affairs.
Radford’s hiring is part of a larger leadership refresh. Bumble also brought on Vivek Sagi, formerly of Eventbrite, as Chief Technology Officer, and Deirdre Runnette from Flexe as Chief Legal Officer. Wolfe Herd called the appointments “an exciting next step” as the company advances its 2025 vision.
The Q1 forecast, originally revealed earlier this year, caused shares to unexpectedly plunge by 18% upon the reveal. Looking ahead, Bumble projects second-quarter revenue between $235 million and $243 million, slightly below consensus expectations at the midpoint.
