Bumble is increasing its investments in AI and branching out with new features to stay relevant amid a generational shift in dating behavior among younger users. During Goldman Sachs' annual technology conference on Monday, Bumble CEO Lidiane Jones unveiled more details about the app's upcoming AI capabilities, including a photo selection tool as well as features to help with conversations and profile creation. Jones previously teased the features in Bumble's latest earnings presentation. During a call with ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Bumble Inc. ("Bumble" or "the Company") (NASDAQ: BMBL) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Bumble investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact attorney Lesley ...

SAN DIEGO, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving Bumble Inc. (NASDAQ: BMBL) focused on whether Bumble and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors. If you have information that could assist in the Bumble investigation or if you are a Bumble investor who suffered a loss and would like to learn mor ...

J Studios/DigitalVision via Getty Images Bumble (NASDAQ:BMBL) shares plummeted like a stone (-40%), after the company reported results for the June quarter, missing expectations on revenue and giving a worse than hoped outlook for the FY 2024. Taking a commercial perspective, momentum in Q2 was pressured by a highly competitive market and fading consumer sentiment for non-necessity products like dating - issues that are now becoming too significant to ignore. In addition, investors were surprised about Bumb ...

Bumble Today BMBL Bumble $6.00 +0.10 (+1.69%) 52-Week Range $4.80 ▼ $17.31 P/E Ratio 35.29 Price Target $9.62 Add to Watchlist Bumble NASDAQ: BMBL is one of the most well-known online dating companies in the world. After the firm's most recent earnings release on Aug. 7, its shares lost nearly a third of their value. Year-to-date, shares are down 60%. It is now at the lowest forward price-to-earnings multiple in its history, at 5.4x. This is also lower than 90% of firms in the U.S. communication services se ...

NEW YORK, Aug. 11, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Bumble Inc. ("Bumble" or "the Company") (NASDAQ: BMBL). Investors who purchased Bumble securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/BMBL. Investigation Details On August 7, 2024, Bumble released its Q2 financial results. The Company also revised its year-over-year ...

NEW YORK, Aug. 10, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Bumble Inc. ("Bumble" or the "Company") (NASDAQ:BMBL) on behalf of Bumble stockholders. Our investigation concerns whether Bumble has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. Bumble announced on August 7, 2024, its second-quarter results and adjusted gui ...

ATLANTA, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Bumble Inc. ("Bumble" or the "Company") (NASDAQ: BMBL) complied with federal securities laws. On August 7, 2024, Bumble reported financial results for its second quarter ended June 30, 2024, and lowered its guidance for fiscal year 2024, stating "We are resetting our guidance today to reflect actions we are taking to position Bumble to reignite user growth, deliver improved customer value, and drive long-term revenue gr ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) This section presents Bumble Inc.'s unaudited condensed consolidated financial statements, including balance sheets, statements of operations, and cash flows, with detailed accounting policy notes [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets decreased to **$3.52 billion** from **$3.63 billion** at year-end 2023, driven by reduced cash and equivalents Condensed Consolidated Balance Sheet Data (in thousands) | Account | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $286,664 | $355,642 | | Goodwill | $1,584,546 | $1,585,750 | | Intangible assets, net | $1,455,658 | $1,484,290 | | **Total assets** | **$3,524,240** | **$3,625,127** | | **Liabilities & Equity** | | | | Total current liabilities | $176,193 | $244,909 | | Long-term debt, net | $613,194 | $615,176 | | **Total liabilities** | **$1,226,242** | **$1,287,854** | | **Total shareholders' equity** | **$2,297,998** | **$2,337,273** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2024 revenue grew to **$268.6 million**, with operating earnings surging to **$52.0 million** and diluted EPS increasing to **$0.22** Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | **$268,615** | **$259,735** | **$536,390** | **$502,683** | | Operating earnings (loss) | $51,954 | $21,171 | $100,744 | $30,235 | | Net earnings (loss) | $37,686 | $9,349 | $71,559 | $7,020 | | Net earnings (loss) attributable to Bumble Inc. shareholders | $27,395 | $6,753 | $52,012 | $5,142 | | **Diluted earnings (loss) per share** | **$0.22** | **$0.05** | **$0.41** | **$0.04** | [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations for H1 2024 was **$35.3 million**, with **$101.0 million** used in financing, resulting in a **$69.0 million** net cash decrease Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $35,345 | $56,100 | | Net cash used in investing activities | ($4,531) | ($19,087) | | Net cash used in financing activities | ($101,003) | ($54,700) | | **Net decrease in cash and cash equivalents** | **($68,972)** | **($22,223)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, including **$19.8 million** in restructuring charges, a **$450 million** share repurchase program, and a **$40.5 million** litigation provision - In February 2024, the company adopted a Restructuring Plan to reduce its global workforce by approximately 350 roles, expecting to incur total charges of **$20.0 million** to **$22.0 million**. For the six months ended June 30, 2024, it incurred **$19.8 million** in restructuring charges[34](index=34&type=chunk)[86](index=86&type=chunk) - The share repurchase program authorization was increased to **$450.0 million** in May 2024. As of June 30, 2024, **$208.7 million** remains available for repurchase[24](index=24&type=chunk)[82](index=82&type=chunk) - As of June 30, 2024, the company has accrued a provision of **$40.5 million** for probable future obligations related to various litigations, including matters concerning the Illinois Biometric Information Privacy Act (BIPA)[70](index=70&type=chunk) - On July 1, 2024, Bumble acquired Geneva Technologies, Inc., a social networking platform, for an aggregate purchase price of approximately **$17.0 million** in cash[70](index=70&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2024 financial performance, noting **3.4%** revenue growth driven by user increases, offset by lower ARPPU, and the impact of restructuring on expenses [Key Operating and Financial Metrics](index=30&type=section&id=Key%20Operating%20and%20Financial%20Metrics) Q2 2024 saw **13.9%** growth in Total Paying Users to **4.14 million**, but Total ARPPU declined **8.0%** to **$21.37** Key Operating Metrics (Q2 2024 vs. Q2 2023) | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Total Paying Users (thousands) | 4,138.6 | 3,633.3 | +13.9% | | Bumble App Paying Users (thousands) | 2,817.2 | 2,457.8 | +14.6% | | Total Average Revenue per Paying User | $21.37 | $23.23 | -8.0% | | Bumble App Average Revenue per Paying User | $25.79 | $28.21 | -8.6% | [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Q2 2024 revenue grew **3.4%** YoY, while operating expenses, particularly G&A and Product Development, significantly decreased due to restructuring-related compensation reductions - Bumble App Revenue grew to **$218.0 million** in Q2 2024 from **$208.0 million** in Q2 2023, an increase of **4.8%**, driven by a **14.6%** increase in paying users[97](index=97&type=chunk) - Badoo App and Other Revenue decreased slightly to **$50.6 million** in Q2 2024 from **$51.8 million** in Q2 2023, a **2.3%** decline, primarily due to lower ARPPU[97](index=97&type=chunk) - Product development expense decreased by **$20.5 million** (**56.7%**) in Q2 2024 compared to Q2 2023, mainly due to an **$18.0 million** decrease in stock-based compensation from forfeitures[102](index=102&type=chunk) - General and administrative expense decreased by **$7.0 million** (**16.1%**) in Q2 2024, driven by an **$11.0 million** decrease in stock-based compensation and lower legal fees[101](index=101&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, cash and equivalents totaled **$286.7 million**, with **$101.0 million** used in financing activities, primarily for share repurchases - Cash and cash equivalents stood at **$286.7 million** as of June 30, 2024, a decrease of **$69.0 million** from year-end 2023, primarily due to share repurchases[113](index=113&type=chunk) - During the six months ended June 30, 2024, the company repurchased **5.3 million** shares of Class A common stock and **2.0 million** Common Units for a total of **$84.4 million**[113](index=113&type=chunk) - The company made cash payments of **$15.2 million** in H1 2024 related to its Restructuring Plan[113](index=113&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risks include foreign currency exposure, with **47.3%** of Q2 2024 revenue from outside North America, and interest rate risk on **$618.9 million** in variable-rate debt - Revenue outside of North America accounted for **47.3%** of consolidated revenue for the three months ended June 30, 2024. A hypothetical **10%** change in British Pound and Euro exchange rates would have impacted H1 2024 revenue by **$12.4 million**[120](index=120&type=chunk)[122](index=122&type=chunk) - The company mitigates interest rate risk on its variable-rate debt by using interest rate swaps with a total notional value of **$350.0 million**, effectively fixing the variable rate element at **3.18%** until January 2027[123](index=123&type=chunk) [Item 4. Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of June 30, 2024, with no material changes to internal controls - Management, including the CEO and CFO, concluded that as of June 30, 2024, the company's disclosure controls and procedures are effective[124](index=124&type=chunk) - There were no changes in internal control over financial reporting during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[125](index=125&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=44&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, including BIPA-related litigation, with a **$40.5 million** provision for probable losses as of June 30, 2024 - The company is subject to various legal proceedings, including matters related to consumer protection, intellectual property, and employment[64](index=64&type=chunk)[125](index=125&type=chunk) - A proposed class action settlement for lawsuits related to the Illinois Biometric Information Privacy Act (BIPA) was preliminarily approved on June 6, 2024[67](index=67&type=chunk) - As of June 30, 2024, the company determined a provision of **$40.5 million** reflects its best estimate of probable future obligations for its litigations[70](index=70&type=chunk) [Item 1A. Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) This section refers readers to the comprehensive risk factor discussion in the company's 2023 Form 10-K, with no new or updated risks presented - For a discussion of risk factors, readers are referred to Part I, "Item 1A—Risk Factors" of the company's 2023 Form 10-K[126](index=126&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company updated its share repurchase program, increasing authorization to **$450.0 million**, with **$208.7 million** remaining available as of June 30, 2024 - The Board of Directors increased the share repurchase program authorization from **$300.0 million** to **$450.0 million** in May 2024[126](index=126&type=chunk) - The company did not purchase any shares under the program during the second quarter of 2024[126](index=126&type=chunk) - As of June 30, 2024, **$208.7 million** remained available for repurchase under the program[126](index=126&type=chunk)

Vladimir Vladimirov Bumble stock plunges after reporting Q2 earnings It's been an incredibly tough earnings season for many companies, but Bumble Inc.'s (NASDAQ:BMBL) post-Q2 decline has been one of the worst. After announcing a wholesale "reset" of its corporate strategy and dramatically slashing its outlook for the year, shares of Bumble crashed roughly 40%. Now, the stock has lost more than two-thirds of its value since the start of the year, making it by far the worst-performing dating app stock and one ...