Bumble has announced their financial results for the first quarter of 2022.
Some of the results highlights are listed below:
- Total Revenue increased 23.7% to $211.2 million compared to $170.7 million. This includes an unfavourable impact of $5.1 million from foreign currency movements year over year.
- Bumble App Revenue grew 38.0% to $155.4 million.
- Badoo App and Other Revenue, including Fruitz which was acquired in January 2022, declined 4.0% to $55.8 million.
- Total Paying Users increased to 3.0 million.
- Total Average Revenue per Paying User (“ARPPU”) increased to $22.76, compared to $19.99.
- Net earnings were $23.9 million and net earnings margin was 11.3%, compared to net earnings of $323.4 million and net earnings margin of 189.5%.
- Adjusted EBITDA was $49.8 million, or 23.6% of revenue, compared to $46.1 million, or 27.0% of revenue.
Whitney Wolfe Herd, founder and CEO of Bumble Inc. said: “I am pleased by our strong first quarter results. Bumble App drove substantial revenue growth across the U.S. and international markets and delivered a significant sequential increase in paying users by continuing to focus on a woman-first experience built upon trust, kindness and safety. Our compelling brands, product leadership, and operational excellence position us well to capture a growing share of the global dating market.”
Anu Subramanian, CFO of Bumble Inc. said: “We are off to an excellent start for fiscal year 2022, exceeding our outlook for revenue and adjusted EBITDA in the first quarter. Total revenue grew 24% year over year in Q1, propelled by Bumble App, which saw growth in both paying users and average revenue per paying user. We also continued to deliver strong economics, including adjusted EBITDA of $50 million and net earnings of $24 million. Even amid the current dynamic operating environment, we believe the underlying momentum in our business remains robust.”
Read the full financial report here.