Bumble Announces Q2’22 Financial Results
Bumble Inc. has reported its financial results for the second quarter of 2022, ended June 30, 2022. Bumble is the parent company of Badoo and Fruitz.
The highlights from the financial results include:
- Total Revenue increased 18.4% to $220.5 million, compared to $186.2 million. This includes an unfavourable impact of $9.4 million from foreign currency movements year over year.
- Bumble App Revenue grew 33.2% to $169.6 million.
- Badoo App and Other Revenue declined 13.7% to $50.8 million.
- Total Paying Users increased to 3.0 million, compared to 2.9 million.
- Total Average Revenue per Paying User (“ARPPU”) increased to $23.65, compared to $20.88.
- Net loss was $6.4 million or (2.9)% of revenue, compared to net loss of $11.1 million, or (6.0)% of revenue.
- Adjusted EBITDA was $54.8 million, or 24.8% of revenue, compared to $51.9 million, or 27.9% of revenue.
Anu Subramanian, CFO of Bumble, said: “We are encouraged by the strong momentum of our business in this dynamic operating environment. We delivered an 18% increase in total revenue and drove strong bottom-line results, with adjusted EBITDA of $55 million exceeding our Q2 outlook. As we move into the second half of the year, we remain focused on executing on our growth initiatives and are confident in our ability to drive profitable growth for our shareholders.”
Whitney Wolfe Herd, CEO of Bumble, said: “Our strong second quarter results reflect the strength of our products, the relevance of our mission and the enduring fundamental human need for love and connection. With its powerful women-first approach, Bumble App drove robust paying user growth, while expanding to more markets around the globe. Across the company, we believe our focus on product innovation, underscored by our drive to create an inclusive and trusted experience for our users, continues to differentiate us from the competition while delivering profitable growth.”
