Spark Networks Announces Q1’22 Financial Results

Spark Networks has announced their financial results for the first quarter of 2022. Some of the highlight results are as follows:

First Quarter 2022 Financial Results

  • Revenue was $52.4 million, compared to $56.4 million in the first quarter of 2021. On a constant currency basis, revenue would have been $54.6 million in the first quarter of 2022, down 3% year over year.
  • Net Loss was $5.3 million, compared to $6.5 million in the first quarter of 2021.
  • Adjusted EBITDA(1) was $3.5 million, compared to $5.1 million in the first quarter of 2021.

Eric Eichmann, CEO of Spark Networks, commented: “In April, Zoosk’s new subscribers grew 15% year over year and key female engagement metrics increased by 14%. Also, for the quarter, Zoosk’s organic traffic increased 65% year over year. With the right talent in place, the right product strategy, scalable technology and new financial flexibility, we are now well-positioned to return to sustainable revenue growth. Spark is the fourth largest online subscription-based dating company across North America and Europe by revenue, and we remain focused on successfully executing the well-developed roadmap of strategies and investments we have in place to drive revenue growth and ultimately shareholder value in 2022 and beyond.”

The results also showed that Zoosk’s new subscribers grew 15% year over year, and Zoosk’s key female engagement metrics increased 14% year over year in April 2022. Spark Networks said that the company expects mid-to-high single-digit revenue growth for full year 2022.

David Clark, CFO at Spark Networks, said: “During the first quarter, we successfully refinanced our existing debt facility to better fund our growth initiatives. Under the new debt facility, we have extended our maturity dates and improved our covenant flexibility, which will allow us to increase our investment to grow our business in 2022 and beyond. For full-year 2022, we expect mid-to-high single-digit total revenue growth year over year.”

Luke Smith

Luke is the Editor for Global Dating Insights. Originally from London, he achieved a BA in Journalism from De Montfort University, Leicester. An experienced content writer, he enjoys a variety of sports, with a keen passion for his football team, Fulham FC.

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