RADNOR, Pa., Nov. 11, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Western District of Texas against Bumble Inc. (“Bumble”) (NASDAQ: BMBL) on behalf of investors who purchased or otherwise acquired Bumble securities between November 7, 2023 and August 7, 2024, inclusive (the “Class Period”) The lead plaintiff deadline is November 25, 2024. CONTACT ...

SAN DIEGO, Nov. 8, 2024 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Bumble Inc. (NASDAQ: BMBL) securities between November 7, 2023 and August 7, 2024, inclusive (the "Class Period"), have until Monday, November 25, 2024 to seek appointment as lead plaintiff of the Bumble class action lawsuit. Captioned Holzer v. Bumble Inc., No. 24-cv-01131 (W.D. Tex.), the Bumble class action lawsuit charges Bumble and certain of Bumble's top executives with vi ...

NEW YORK, Nov. 11, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Bumble Inc. (NASDAQ: BMBL).Shareholders who purchased shares of BMBL during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/bumble-loss-submission-form/?id=111169&from=4CLASS PERIOD: November 7, 2023 to August 7, 2024 ...

NEW YORK, Nov. 10, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bumble Inc. (NASDAQ: BMBL) between November 7, 2023 and August 7, 2024, both dates inclusive (the "Class Period"), of the important November 25, 2024 lead plaintiff deadline. So what: If you purchased Bumble securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do ...

NEW YORK, Nov. 09, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bumble Inc. (NASDAQ: BMBL) between November 7, 2023 and August 7, 2024, both dates inclusive (the “Class Period”), of the important November 25, 2024 lead plaintiff deadline. SO WHAT: If you purchased Bumble securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT T ...

SAN DIEGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Bumble Inc. (NASDAQ: BMBL) securities between November 7, 2023 and August 7, 2024, inclusive (the “Class Period”), have until Monday, November 25, 2024 to seek appointment as lead plaintiff of the Bumble class action lawsuit. Captioned Holzer v. Bumble Inc., No. 24-cv-01131 (W.D. Tex.), the Bumble class action lawsuit charges Bumble and certain of Bumble’s top executives with violations of ...

Financial Performance - Total Revenue for the three months ended September 30, 2024, was $273,605,000, a slight decrease of 0.3% compared to $275,510,000 for the same period in 2023[10] - Net loss for the three months ended September 30, 2024, was $849,259,000, compared to a net income of $23,124,000 for the same period in 2023[11] - Comprehensive loss attributable to Bumble Inc. shareholders for the three months ended September 30, 2024, was $616,886,000[11] - The company reported a net loss of $(561,187) for the year ending December 31, 2023, compared to a net loss of $(144,084) for the previous year, representing a significant increase in losses[14] - For the nine months ended September 30, 2024, Bumble Inc. reported a net loss of $777,700,000 compared to a net earnings of $30,144,000 for the same period in 2023[18] - The company reported a net loss of $849.3 million for the three months ended September 30, 2024, compared to a net income of $23.1 million in the same period of 2023[106] Revenue and User Metrics - Total Average Revenue per Paying User (ARPPU) was calculated based on Total Revenue divided by Total Paying Users, reflecting the company's revenue generation efficiency[10] - Total Paying Users increased, contributing to the overall revenue despite the net loss reported[10] - Bumble App revenue for Q3 2024 was $220.2 million, down from $221.8 million in Q3 2023[30] - Average revenue per paying user for Bumble App was $25.58 in Q3 2024, down from $28.38 in Q3 2023[88] - Total Paying Users for Bumble App increased by 10.2% to 2.9 million for the three months ended September 30, 2024[110] Operating Costs and Expenses - Operating costs and expenses for the three months ended September 30, 2024, totaled $1,111,792,000, significantly higher than $245,510,000 for the same period in 2023[10] - The total operating costs and expenses for the three months ended September 30, 2024, were $1.1 billion, significantly higher than $245.5 million in the same period of 2023, primarily due to impairment losses[106] - Selling and marketing expenses for the three months ended September 30, 2024, were $63.5 million, down from $68.8 million in the same period of 2023[106] - General and administrative expenses decreased to $33.3 million for the three months ended September 30, 2024, from $48.6 million in the same period of 2023[106] Impairment Losses - The company reported an impairment loss of $892,248,000 for the three months ended September 30, 2024, with no impairment loss reported in the same period of 2023[10] - The Company recorded $197.2 million in goodwill impairment charges during the three months ended September 30, 2024[27] - The Company recognized $670.3 million in impairment charges associated with indefinite-lived intangible assets during the same period[28] - The Company recorded $24.7 million in impairment charges related to the Fruitz asset group during the three months ended September 30, 2024[29] - An impairment charge of $670.3 million for indefinite-lived intangible assets was recognized during the three and nine months ended September 30, 2024, with total impairment loss for the nine months being $892.2 million[119] Shareholder Equity and Stock Repurchases - The balance of total shareholders' equity as of September 30, 2024, was $2,297,998,000, reflecting the impact of the net loss during the period[12] - The company repurchased 14.2 million shares of Class A common stock for $89.7 million during the three months ended September 30, 2024[30] - The Company repurchased a total of 19.5 million shares of Class A common stock and 2.0 million Common Units for $174.1 million during the nine months ended September 30, 2024[32] - The Company has $119.0 million remaining available for repurchase under the share repurchase program as of September 30, 2024[32] Cash Flow and Liquidity - Net cash provided by operating activities was $128,839,000, an increase from $118,669,000 in the prior year[18] - Cash and cash equivalents at the end of the period were $252,057,000, down from $439,184,000 a year earlier[18] - Net cash used in financing activities increased significantly to $207,749,000 from $58,355,000 in the prior year[18] - Free cash flow for the nine months ended September 30, 2024, was $122.7 million, compared to $105.9 million for the same period in 2023, with a free cash flow conversion rate of 53.0%[128] Acquisitions and Strategic Initiatives - The company continues to explore acquisition opportunities to strengthen its market position and expand its user base[10] - The Company completed the acquisition of Geneva Technologies, Inc. for total cash consideration of $17.5 million, with $17.2 million allocated to developed technology[44] - The company aims to expand the Bumble For Friends experience through the acquisition of Geneva in July 2024[30] Legal Proceedings - The company is subject to various legal proceedings, which may result in liabilities that cannot be reasonably estimated at this time[74] - The company faced six shareholder derivative complaints related to the September 2021 Secondary Public Offering, alleging false and misleading statements[78] - The company is currently involved in litigation related to the California Unruh Civil Rights Act, with a class action complaint filed in April 2024[80] Restructuring and Workforce Changes - The Company announced a restructuring plan to reduce its global workforce by approximately 350 roles, incurring total non-recurring charges of approximately $20.4 million through Q3 2024[46] - As of September 30, 2024, the remaining restructuring liability is $1.3 million, primarily consisting of accrued severance costs[46] Tax and Compliance - The effective tax rate for the Company was (0.5)% for the three months ended September 30, 2024, compared to 7.5% for the same period in 2023[36] - The company expects to qualify for transitional safe harbor relief under the Pillar Two rules in most jurisdictions, but some jurisdictions may not provide this relief[123] Other Financial Metrics - Adjusted EBITDA for Q3 2024 was $82.6 million, representing an Adjusted EBITDA margin of 30.2%, up from $75.3 million and 27.3% in Q3 2023[30] - The company incurred approximately $20.4 million in total non-recurring charges related to the Restructuring Plan, which was completed in Q3 2024[129]

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bumble Inc. (NASDAQ: BMBL) between November 7, 2023 and August 7, 2024, both dates inclusive (the "Class Period"), of the important November 25, 2024 lead plaintiff deadline. SO WHAT: If you purchased Bumble securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO ...

Financial Data and Key Metrics - Total revenue for Q3 2024 was $274 million, down 1% YoY, with an unfavorable FX impact of approximately $1 million [37] - Bumble app revenue declined 1% YoY to $220 million, also impacted by FX [37] - Total paying users grew 11% YoY to 4.3 million, with Bumble app paying users increasing 10% to 2.9 million [37] - Badoo app and other revenue declined 1% to $53 million, but showed slight growth excluding FX impact [38] - Adjusted EBITDA for Q3 increased 10% YoY to $83 million, with a margin of 30%, up 290 basis points [42] - The company repurchased $120 million in stock since August, bringing total buybacks under the $450 million authorization to $361 million [7][46] Business Line Performance - Bumble app revenue declined 1% YoY to $220 million, with paying users growing 10% to 2.9 million [37] - Badoo app and other revenue declined 1% YoY to $53 million, but paying users grew 14% to 1.4 million [38] - Badoo saw improved payer conversion due to revenue re-architecture, with six consecutive quarters of positive payer net ads [39] - Geneva, a new app focused on friendships and community, is now live and gradually increasing awareness [30] Market Performance - The company observed a high single-digit incremental increase in women's registration in a growing European market, leading to more daily "yes" votes [14] - Marketing efforts in top-tier cities, including organic strategies, are showing positive results, particularly among Gen Z women [12][69] - The company is expanding its marketing tests to additional markets in Q4, with plans for gradual global expansion [14] Strategy and Industry Competition - The company is focused on transforming Bumble by making data-driven decisions, increasing execution velocity, and attracting top talent [8] - Key initiatives include strengthening the core ecosystem, driving innovation in customer experience, and enhancing revenue strategy [11] - The company is piloting a generative AI-based customer service agent to improve response effectiveness and accuracy [17] - A winter product release in 2025 will focus on authentic connections, including ID verification and AI-powered photo selection [23] Management Commentary on Operating Environment and Future Outlook - The company is confident in its transformation path and expects 2025 to be a pivotal year for growth [31] - Management emphasized the importance of balancing free users with subscription value to drive long-term profitability [25] - The company expects full realization of its strategic initiatives to take multiple quarters, with investments in marketing, technology, and product innovation [27][50] Other Important Information - The company recorded a non-cash impairment charge of $892 million related to intangible assets and goodwill, triggered by a sustained decline in market cap [40] - Free cash flow for Q3 was $92 million, with $252 million in cash and cash equivalents at the end of the quarter [45] - Full-year 2024 revenue is expected to be between $1.066 billion and $1.072 billion, with Bumble app revenue projected at $861 million to $865 million [47] Q&A Session Summary Question: Progress on strategic initiatives and timeline for impact [54] - The company is focused on strengthening the ecosystem, ensuring customer success, and reimagining the revenue strategy, with early progress seen in Q3 [55] - Full realization of these initiatives will take multiple quarters, with more details to be provided in future earnings calls [56] Question: Capital allocation philosophy and buybacks [57] - The company prioritizes organic growth, opportunistic M&A, and returning capital to shareholders through buybacks [58] - For 2025, the focus will be on top-line growth while continuing the buyback program opportunistically [59] Question: Ecosystem health and customer experience initiatives [61] - The company is rebalancing marketing spend, strengthening organic marketing, and implementing a regular product cadence to improve ecosystem health [62] - Safety initiatives, such as improved photo moderation and ID verification, are seen as positive investments for user growth [63] Question: Badoo's role and potential in the portfolio [65] - Badoo serves a complementary customer base to Bumble, with positive engagement and ARPPU improvements observed after product and marketing changes [66] Question: Gen Z engagement and election impact [68] - The company has seen positive engagement from Gen Z women, particularly in top cities, due to organic marketing efforts [69] - Historically, elections have not significantly impacted customer engagement, and Q4 guidance remains consistent [70][71] Question: Free experience evolution and 2025 growth composition [73] - The company is focused on improving the free experience to drive conversion to paid tiers, with near-term opportunities to increase conversion rates [74] - Detailed plans for 2025, including user and payer growth, will be shared in future earnings calls [76] Question: Marketing tests in Europe and learnings for mature markets [78] - In emerging markets, the company has balanced brand expansion with tailored marketing, resulting in effective user acquisition [79] - In mature markets, organic marketing efforts, such as sponsoring the WNBA, have yielded positive results and amplified digital engagement [80] Question: Q4 margin outlook and advertising spend [83] - Q4 margins are expected to be lower due to higher marketing spend, but the full-year EBITDA margin outlook remains unchanged [83]

For the quarter ended September 2024, Bumble Inc. (BMBL) reported revenue of $273.61 million, down 0.7% over the same period last year. EPS came in at $0.35, compared to $0.12 in the year-ago quarter.The reported revenue represents a surprise of +0.68% over the Zacks Consensus Estimate of $271.76 million. With the consensus EPS estimate being $0.20, the EPS surprise was +75.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...