Bumble Inc. Revenue Dips, But User Base Grows Dramatically

Bumble Inc., the company behind popular dating apps Bumble and Badoo, recently shared its third-quarter financial results for 2024, highlighting a mixed financial performance. While Bumble’s revenue showed a slight decline, its user base has continued to expand.

For the quarter ending September 30, 2024, Bumble reported a minor dip in total revenue, which decreased by 0.7% to $273.6 million compared to $275.5 million in the same period last year. Revenue from the Bumble App itself also fell by 0.7%, reaching $220.2 million. However, Bumble’s operational efficiency improved – the company’s earnings before tax and other expenses have actually increased from around 27% to just over 30%.

Despite these financial setbacks, Bumble saw growth in its paying user base. Total paying users increased to 4.3 million, up from 3.8 million in the same quarter last year. The Bumble App specifically has experienced 10% rise in paying users, reaching 2.9 million – overall income per paying user is lower, but there are more users overall, meaning that the platform has a much wider base of potential customers to cultivate.

This isn’t even mentioning non-paying users, but given that only around 4.6% of Bumble users ever pay, the overall user base growth rate must be significant. This revenue decrease has been the only dip in earnings since the company went public in 2021, and Bumble Inc. already forecasts that it will rise again once more of the new users are converted into paying customers.