Bumble announced plans to lay off 350 employers on Tuesday, reducing its headcount by 30% as part of a larger restructuring plan.Job cuts across dating app — whose defining feature is that only women can initiate chats with male suitors — is the first big move by CEO Lidiane Jones, who took over in January after serving in the chief executive position at Slack Technologies. (For users looking for a same-sex match, either person can reach out first.)Bumble said expects to incur about $20 million to $25 milli ...

Bumble (NASDAQ:BMBL), which owns the popular dating platform of the same name, just disclosed that it will dismiss roughly 350 employees. According to the firm, roughly 30% of its workers will be affected by the Bumble layoffs.Importantly, Bumble also reported weaker-than-expected fourth-quarter results with the news. The company also provided guidance that came in below analysts’ average estimates. Now, BMBL stock is sinking by more than 8%.The Bumble Layoffs and Q4 ResultsBumble decided to carry out the j ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

bumble inc. February 2024 Q4 2023 Earnings Supplemental Presentation This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements reflecting the current views of management of Bumble Inc. with respect to, among other things, our operations, our financial performance, our industry, our business and other non-historical statements, including without limitation the in ...

Bumble Inc. (NASDAQ:BMBL) Q4 2023 Results Earnings Conference Call February 27, 2024 4:30 PM ET Company Participants Cherryl Valenzuela - Vice President, Investor Relations Lidiane Jones - Chief Executive Officer Anuradha Subramanian - Chief Financial Officer Conference Call Participants Alexandra Steiger - Goldman Sachs Andrew Marok - Raymond James Cory Carpenter - J.P. Morgan Shweta Khajuria - Evercore ISI Ygal Arounian - Citigroup Miles Jakubiak - KeyBanc Capital Markets Benjamin Black - Deutsche Bank Ke ...

Bumble Inc. (BMBL) reported $273.64 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 13.3%. EPS of -$0.19 for the same period compares to $0.17 a year ago.The reported revenue represents a surprise of -0.63% over the Zacks Consensus Estimate of $275.38 million. With the consensus EPS estimate being $0.12, the EPS surprise was -258.33%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

Bumble, a once-powerful force in online dating, is facing a reckoning.The company posted weak Q4 2023 results today showing a $32 million net loss and $273.6 million in revenue. While up from the same period a year ago, earnings came in below Wall Street expectations and were paired with a disappointing Q1 2024 forecast — sending Bumble’s stock tumbling ~10% in after-hours trading.Bumble’s taking drastic action to stem the bleeding.CEO Lidiane Jones announced that 37% of Bumble’s workforce, or about 350 emp ...

The Bumble app on a smartphone arranged in New York, US, on Monday, Nov. 6, 2023.Bumble on Tuesday announced plans to lay off around 350 employees, or about 37% of its workforce, as part of a restructuring plan.The company said the layoffs will help drive stronger operating leverage and align its operating model with "future strategic priorities," according to its fourth-quarter report. Bumble had more than 950 full-time employees as of December 31, 2022, according to a filing with the U.S. Securities and E ...

Revenue Performance - Total Revenue for Q4 2023 increased 13.2% to $273.6 million, compared to $241.6 million in Q4 2022[4] - Bumble App Revenue rose 15.7% to $220.7 million, while Badoo App and Other Revenue increased 4.2% to $52.9 million[4] - Full Year 2023 Total Revenue increased 16.4% to $1,051.8 million, with Bumble App Revenue up 22% to $844.8 million[11] - Total revenue for the year ended December 31, 2023, reached $1.052 billion, up 16.4% from $903.5 million in 2022[52] User Metrics - Total Paying Users grew 16.4% to 4.0 million, up from 3.4 million in the previous year[4] - Total Paying Users increased to 1,253,000 in Q4 2023 from 1,093,000 in Q4 2022, representing a growth of 14.6% year-over-year[35] - Bumble App Average Revenue per Paying User (ARPPU) for the year ended December 31, 2023, was $4.054, compared to $3.819 for the year ended December 31, 2022, indicating a growth of 6.1%[35] Financial Losses and Improvements - Net loss for Q4 2023 was $32.0 million, significantly improved from a net loss of $159.2 million in Q4 2022[4] - Operating loss for Q4 2023 was $6.9 million, significantly improved from a loss of $147.4 million in Q4 2022[52] - Net loss attributable to Bumble Inc. shareholders for Q4 2023 was $26.0 million, compared to a loss of $110.6 million in Q4 2022[52] - Net earnings for the quarter ended December 31, 2023, were $(32,012) thousand, compared to $(159,246) thousand for the same quarter in 2022, showing significant improvement[55] Cash Flow and Liquidity - As of December 31, 2023, total cash and cash equivalents were $355.6 million, while total debt stood at $620.9 million[6] - Cash and cash equivalents at the end of Q4 2023 were $355.6 million, down from $402.6 million at the end of Q4 2022[54] - Operating cash flow for Q4 2023 was $63.4 million, an increase from $51.2 million in Q4 2022[54] - Free cash flow for the quarter ended December 31, 2023, was $61,251 thousand, compared to $46,150 thousand in the same quarter of 2022, indicating a 32.5% increase[55] - The company reported a net cash provided by operating activities of $63,417 thousand for the quarter ended December 31, 2023, up from $51,172 thousand in the prior year[55] Operational Efficiency - Adjusted EBITDA for Q4 2023 was $73.7 million, representing 26.9% of revenue, compared to 25.0% in Q4 2022[4] - Adjusted EBITDA for the year ended December 31, 2023, was $275,570 thousand, up from $226,919 thousand in 2022, reflecting a growth in adjusted EBITDA margin from 25.1% to 26.2%[55] - Adjusted EBITDA margin for the year ended December 31, 2023, was not specified but is calculated as Adjusted EBITDA divided by revenue, providing insight into operational performance[41] - The adjusted EBITDA margin increased by at least 300 basis points year-over-year, indicating strong operational efficiency[57] Cost Management - General and administrative expenses decreased to $52.008 million for the year ended December 31, 2023, from $63.575 million in 2022, a reduction of 18.3%[35] - Stock-based compensation expense for the year ended December 31, 2023, was $104.338 million, down from $111.008 million in 2022, a decrease of 6.0%[35] - Capital expenditures for the year ended December 31, 2023, were $(14,935) thousand, down from $(16,333) thousand in 2022, indicating a reduction in capital spending[55] Future Outlook - For Q1 2024, the company anticipates Total Revenue between $262 million and $268 million[19] - Bumble App Revenue for 2024 is expected to grow between 9% and 11%[21] - The company plans to reduce its global workforce by approximately 350 roles, expecting non-recurring charges of $20 million to $25 million[7] - The company plans to implement a global workforce reduction and restructuring of operations, which may impact future financial performance[46] - The company anticipates potential risks related to competition, user retention, and geopolitical conditions affecting future growth[46] Legal and Compliance - The company reported litigation costs net of insurance proceeds of $(71.918) million for the year ended December 31, 2023, compared to $(22.734) million in 2022, indicating increased legal expenses[35] - The company incurred litigation costs of $47,044 thousand in the quarter ended December 31, 2023, compared to $18,645 thousand in the same quarter of 2022, highlighting increased legal expenses[55] Asset Management - Total assets as of December 31, 2023, were $3.625 billion, a decrease from $3.693 billion in 2022[51] - Long-term debt as of December 31, 2023, was $615.2 million, slightly down from $619.2 million in 2022[51] - The company reported a significant increase in accounts receivable, netting $102.7 million in Q4 2023, up from $66.9 million in Q4 2022[51] Product Development - Product development expenses for the year ended December 31, 2023, were $130,565 thousand, compared to $109,020 thousand in 2022, reflecting a 19.8% increase[60] - Bumble Inc. plans to continue expanding its product offerings and market presence, focusing on user engagement and retention strategies[49]

AUSTIN, Texas--(BUSINESS WIRE)--To mark Safer Internet Day, Bumble Inc. (NASDAQ: BMBL) has announced its latest feature, Deception Detector™, building on its decade-long priority of building kind, safe, and authentic connections. Deception Detector™ uses Artificial Intelligence (AI) to help identify spam, scam and fake profiles, aiming to take action before members even see them. Within the first two months of the technology’s introduction, Bumble saw member reports of spam, scam, and fake accounts reduced ...