Bumble stock rises 5% after dating app shows 30% increase in fourth quarter sales

Bumble Inc.’s stock rose nearly 5% in the extended session on Wednesday after the dating app operator’s first quarterly report as a state-owned company showed lower losses and losses. more revenue than analysts expected.

Bumble BMBL,
+ 0.70%
said it lost $ 26.1 million, or 1 cent per share, compared to a profit of $ 17.2 million in the quarter last year.

Revenue rose 31% to $ 165.6 million, from $ 126.3 million a year ago, the company said. Bumble said it ended the quarter with 2.7 million paid users, a 32% increase from the fourth quarter of 2019.

Analysts polled by FactSet had expected Bumble to report a GAAP loss of 9 cents per share on sales of $ 163.3 million.

The company runs its namesake app Bumble as well as Badoo, a dating app popular in Europe and Latin America. The Bumble app consists of Bumble Date, for finding romantic partners, Bumble BFF, for finding platonic friends, and Bumble Bizz, for finding network connections.

The company forecast first quarter 2021 revenue of between $ 163 million and $ 165 million, and adjusted EBITDA between $ 41 million and $ 42 million.

For the full year 2021, the company said it expects revenue of between $ 716 million and $ 726 million and adjusted EBITDA between $ 173 million and $ 178 million.

The company went public last month, with stocks rising 70% on their first day of listing.

Bumble remains “focused on growth, investing in our users and expanding internationally,” CEO Whitney Wolfe said in a statement. “Our IPO was a critical step, but we are just getting started and are excited about the next chapter of our journey. “

Bumble’s revenue growth has slowed amid the pandemic. The company generated revenue of $ 488.9 million in 2019, up about 36% from the previous year, while Bumble reported revenue of $ 582.2 million. dollars in 2020, up 19%.

Bumble mainly generates revenue from paid memberships and purchases of premium features of dating apps, although the company also makes money from advertising.

Emily Bary in New York contributed to this report.

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