Bumble Inc. - BMBL STOCK NEWS

Bumble Inc. (NASDAQ: BMBL) announced a leadership transition as Founder and Executive Chair Whitney Wolfe Herd will return as CEO in mid-March 2025, succeeding Lidiane Jones who resigned for personal reasons. Jones will continue as CEO until the transition.

In connection with this change, current Lead Director Ann Mather will become Chair of Bumble's board of directors. The company also reported positive financial expectations, stating that Q4 2024 total revenue and Bumble App revenue are expected to be above the midpoints of previously provided outlook ranges, with Q4 Adjusted EBITDA within the previously disclosed outlook range.

Bumble Inc. (NASDAQ: BMBL) has appointed Michael Affronti as Chief Product Officer (CPO), effective immediately. In this executive role, Affronti will oversee innovation and user experience across the company's product portfolio while leading the Product, Safety, Research and Customer Care teams.

Affronti joins from Salesforce, where he served as SVP and General Manager of Commerce Cloud, managing their multi-billion-dollar global e-commerce business serving over two billion consumers annually. His previous experience includes leadership roles at Dataminr and Fuze, where he developed product-led growth offerings using AI and machine learning. He also spent ten years at Microsoft working on Office and Outlook products.

He succeeds former CPO Ali Rayl, who departed last year. CEO Lidiane Jones highlighted Affronti's track record in driving innovation and platform scaling, noting that his appointment aligns with Bumble's upcoming product innovations planned for 2025.

Bumble Inc. announced key leadership changes and reaffirmed its 2024 financial outlook. Neil Shah has been appointed as Chief Business Officer, a new position focused on strategic transformation, revenue model, and partnerships. Chief Financial Officer Anu Subramanian will step down in March 2025, while Chief Marketing Officer Selby Drummond will depart in January 2025. Subramanian, who joined in 2020, will assist with the transition through the year-end earnings and Form 10-K filing. The company has initiated a search for a new CFO. Both departing executives were credited with significant contributions to Bumble's growth and global expansion.

Bumble (NASDAQ: BMBL) has announced its participation in the upcoming Wells Fargo 8th Annual TMT Summit in Rancho Palos Verdes, California. The company's management will engage in a fireside chat on Tuesday, December 3, 2024, at 11:00 a.m. PT.

Investors and interested parties can access the live audio webcast of the discussion through the Investors section of Bumble's website at ir.bumble.com.

Bumble Inc. (NASDAQ: BMBL) announced third-quarter 2024 results, revealing a 1% decrease in total revenue to $274 million. Bumble App revenue also fell by 1% to $220 million, despite a 10% increase in paying users to 2.9 million. Total paying users rose to 4.3 million, but average revenue per paying user (ARPPU) dropped to $21.17 from $23.42. The company reported a net loss of $849.3 million, driven by $892.2 million in non-cash impairment charges. Adjusted EBITDA improved to $82.6 million, representing 30.2% of revenue. Bumble repurchased $89.7 million in shares during Q3 and $30 million in October, leaving $89 million available for repurchase. The financial outlook for Q4 2024 projects total revenue between $256 million and $262 million, with Bumble App revenue between $207 million and $211 million. For the full year 2024, total revenue is expected to range from $1,066 million to $1,072 million, with an adjusted EBITDA margin growth of at least 200 basis points.

Bumble Inc. (NASDAQ: BMBL) has announced that it will release its third quarter 2024 financial results on Wednesday, November 6, 2024, after the market closes. The company will host a live webcast conference call at 4:30 p.m. Eastern Time on the same day to discuss the results.

Investors and interested parties can access the webcast, earnings release, and related materials through the Investors section of Bumble's official website at https://ir.bumble.com. For those unable to attend the live event, a webcast replay will be made available approximately two hours after the call concludes.

Bumble Inc. (NASDAQ: BMBL) has announced its participation in two upcoming investor conferences. The company will be present at the Citi Global TMT Conference in New York on September 5, 2024, with a fireside chat scheduled for 10:50 a.m. ET. Additionally, Bumble will participate in the Goldman Sachs Communacopia + Technology Conference in San Francisco on September 9, 2024, with a fireside chat at 3:05 p.m. PT.

Both conference fireside chats will be accessible via live audio webcast on the Investors section of Bumble's website at https://ir.bumble.com. This announcement demonstrates Bumble's commitment to engaging with investors and sharing insights about the company's performance and strategy.

Bumble Inc. (NASDAQ: BMBL) announced its Q2 2024 financial results, showing a 3.4% increase in total revenue to $268.6 million. Bumble app revenue rose by 4.8% to $218 million, while Badoo app and other revenue decreased by 2.2% to $50.6 million. Total paying users increased to 4.1 million, but average revenue per paying user (ARPPU) dropped to $21.37 from $23.23.

The company reported net earnings of $37.7 million (14.0% of revenue), up from $9.3 million (3.6%) in Q2 2023. Adjusted EBITDA was $75 million (27.9% of revenue), compared to $67.3 million (25.9%) last year. The balance sheet shows $286.7 million in cash and $618.9 million in total debt.

Bumble projects Q3 2024 revenue between $269 million and $275 million, with an adjusted EBITDA of $77 million to $80 million. For the full year 2024, the company expects a 1% to 2% increase in total revenue and a 200 basis point growth in adjusted EBITDA margin.

Bumble Inc. (NASDAQ: BMBL) has announced that it will release its second quarter 2024 financial results on Wednesday, August 7, 2024, after the market closes. The company will host a live webcast conference call at 4:30 p.m. Eastern Time on the same day to discuss the results.

Investors and interested parties can access the webcast, earnings release, and related materials through the Investors section of Bumble's official website at https://ir.bumble.com. A replay of the webcast will be made available approximately two hours after the live event concludes.