97 Consolidated Balance Sheets Information | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------|--------------|-----------------------|-------|--------------------------------| | Legal liabilities | December \n$ | 31, 2023 \n65,761 | $ | December 31, 2022 \n20,501 | | Payroll and related expenses | | 23,603 | | 20,814 | | Marketing expenses | | 22,622 | | 19,874 | | Other accrued expenses | | 14,487 | | 14,536 | | Lease liabilities | | 1,171 ...

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 ...

Financial Data and Key Metrics Changes - Total Bumble Inc. revenue in Q4 increased 13% to $274 million, driven by a 16% increase in paying users [19][22] - For the full year 2023, total revenue grew 16% year-over-year to $1.052 billion, with adjusted EBITDA of $276 million, representing a 26% margin [22][24] - GAAP net loss for full year 2023 was $2 million compared to a net loss of $114 million in 2022 [23] - Q4 adjusted EBITDA was $74 million, consistent with the outlook [22] Business Line Data and Key Metrics Changes - Revenue from Bumble App increased 16% to $221 million, with paying users growing 21% to 2.7 million [20][22] - Badoo App and Other revenue was $53 million, up 4%, with paying users growing 8% to 1.3 million [39][40] - Bumble App's ARPPU declined 4% to $27.37, primarily due to geographic mix shift [21] Market Data and Key Metrics Changes - The global addressable market for online dating remains strong with about 2 billion single people worldwide [11] - The company is seeing strong growth in international markets, particularly in Germany, Spain, France, Mexico, and India [72] Company Strategy and Development Direction - The company plans to relaunch Bumble App in Q2 with a modern experience aimed at capturing a broader audience and appealing to younger users [14][16] - Focus on building Bumble For Friends to create equitable and safe friendships across communities [18] - Emphasis on leveraging data and emerging technologies like generative AI to enhance product innovation [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged execution challenges affecting the Bumble App and adjusted 2024 revenue outlook due to a slower-than-expected start [26][74] - Confidence in resolving issues within control and reaccelerating growth in the second half of 2024 post-relaunch [26][76] - Management highlighted the importance of innovation in the online dating category, noting a disconnect between demand and available experiences [58][116] Other Important Information - The company repurchased $136 million worth of shares in Q4, demonstrating commitment to the buyback program [25] - New leadership appointments were announced, including a Chief Product Officer and Chief Technology Officer, to drive innovation [47][48][50] Q&A Session Questions and Answers Question: What is the biggest opportunity for Bumble over the next few months? - Management sees a tremendous opportunity in modernizing the user experience and addressing the disconnect between demand and innovation in the online dating market [56][58] Question: What are the assumptions behind the updated 2024 guidance? - The guidance reflects a slower-than-expected start primarily in the US, with adjustments made to revenue outlook for Bumble App [74][76] Question: How is the company addressing the challenges with Premium+? - Management noted that while Premium+ was revenue-positive, it did not show the anticipated incremental uplift, leading to a reevaluation of the product tiering strategy [61][84] Question: What is the strategy for marketing spend throughout the year? - Marketing spend is expected to be higher in the first half of the year leading up to the Q2 launch, with a gradual decrease as revenue ramps up in the second half [90] Question: How does the company plan to leverage AI and data? - The company has significant in-house data related to user preferences and behaviors, which will be utilized alongside partnerships with large language model vendors to enhance user experiences [120]

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]