Bumble Inc. Announces Third Quarter 2024 Results
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) ha annunciato i risultati del terzo trimestre 2024, rivelando una decremento dell'1% nei ricavi totali, scesi a 274 milioni di dollari. Anche i ricavi dell'app Bumble sono diminuiti dell'1% a 220 milioni di dollari, nonostante un aumento del 10% degli utenti paganti, saliti a 2,9 milioni. Gli utenti paganti totali sono aumentati a 4,3 milioni, ma il ricavo medio per utente pagante (ARPPU) è sceso a 21,17 dollari, rispetto ai 23,42 dollari precedenti. La società ha riportato una perdita netta di 849,3 milioni di dollari, causata da oneri di impairment non monetari per 892,2 milioni di dollari. L'EBITDA rettificato è migliorato a 82,6 milioni di dollari, rappresentando il 30,2% dei ricavi. Bumble ha riacquistato azioni per un valore di 89,7 milioni di dollari durante il terzo trimestre e 30 milioni di dollari in ottobre, lasciando 89 milioni di dollari disponibili per ulteriori riacquisti. Le previsioni finanziarie per il quarto trimestre 2024 indicano ricavi totali compresi tra 256 milioni e 262 milioni di dollari, con ricavi dell'app Bumble tra 207 milioni e 211 milioni di dollari. Per l'intero anno 2024, i ricavi totali sono attesi tra 1.066 milioni e 1.072 milioni di dollari, con una crescita del margine EBITDA rettificato di almeno 200 punti base.
Bumble Inc. (NASDAQ: BMBL) anunció los resultados del tercer trimestre de 2024, revelando una disminución del 1% en los ingresos totales, que alcanzaron los 274 millones de dólares. Los ingresos de la aplicación Bumble también cayeron un 1% a 220 millones de dólares, a pesar de un aumento del 10% en los usuarios que pagan, alcanzando los 2,9 millones. El número total de usuarios que pagan aumentó a 4,3 millones, pero los ingresos promedio por usuario que paga (ARPPU) cayeron a 21,17 dólares desde 23,42 dólares. La compañía reportó una pérdida neta de 849,3 millones de dólares, impulsada por 892,2 millones de dólares en cargos por deterioro no monetarios. El EBITDA ajustado mejoró a 82,6 millones de dólares, representando el 30,2% de los ingresos. Bumble recompró acciones por un valor de 89,7 millones de dólares durante el tercer trimestre y 30 millones de dólares en octubre, dejando 89 millones de dólares disponibles para recompras. Las proyecciones financieras para el cuarto trimestre de 2024 estiman ingresos totales entre 256 y 262 millones de dólares, con ingresos de la aplicación Bumble entre 207 y 211 millones de dólares. Para el año completo 2024, se espera que los ingresos totales oscilen entre 1,066 millones y 1,072 millones de dólares, con un crecimiento del margen EBITDA ajustado de al menos 200 puntos básicos.
Bumble Inc. (NASDAQ: BMBL)는 2024년 3분기 실적을 발표하며 총 수익이 1% 감소하여 2억 7400만 달러에 달했다고 밝혔다. Bumble 앱의 수익 또한 1% 감소하여 2억 2000만 달러에 이르렀으며, 유료 사용자 수가 10% 증가하여 290만 명에 이르렀다. 총 유료 사용자 수는 430만 명으로 증가했으나, 유료 사용자 평균 수익(ARPPU)은 23.42달러에서 21.17달러로 하락했다. 회사는 849.3백만 달러의 순손실을 기록했다, 이는 8억 9220만 달러의 비현금 손상비용에 의해 생겼다. 조정된 EBITDA는 8260만 달러로 개선되었으며, 이는 수익의 30.2%를 차지한다. Bumble은 3분기 동안 8970만 달러의 자사주식을 재매입했고, 10월에는 3000만 달러를 추가로 매입하였으며, 추가 매입을 위해 8900만 달러를 남겼다. 2024년 4분기 재정 전망은 총 수익이 2억 5600만 달러에서 2억 6200만 달러 사이, Bumble 앱 수익이 2억 700만 달러에서 2억 1100만 달러 사이로 예상된다. 2024년 전체 연도에 대해, 총 수익은 10억 6600만 달러에서 10억 7200만 달러로 예상되며, 조정된 EBITDA 마진은 최소 200 베이시스 포인트 증가할 것으로 보인다.
Bumble Inc. (NASDAQ: BMBL) a annoncé les résultats du troisième trimestre 2024, révélant une baisse de 1% du chiffre d'affaires total à 274 millions de dollars. Les revenus de l'application Bumble ont également diminué de 1% à 220 millions de dollars, malgré une augmentation de 10% du nombre d'utilisateurs payants, atteignant 2,9 millions. Le nombre total d'utilisateurs payants est passé à 4,3 millions, mais le revenu moyen par utilisateur payant (ARPPU) a chuté à 21,17 dollars, contre 23,42 dollars. La société a enregistré une perte nette de 849,3 millions de dollars, due à des charges de dépréciation non monétaires de 892,2 millions de dollars. L'EBITDA ajusté s'est amélioré à 82,6 millions de dollars, représentant 30,2% des revenus. Bumble a racheté pour 89,7 millions de dollars d'actions au cours du troisième trimestre et 30 millions de dollars en octobre, laissant 89 millions de dollars disponibles pour des rachats supplémentaires. Les prévisions financières pour le quatrième trimestre 2024 projettent un chiffre d'affaires total compris entre 256 millions et 262 millions de dollars, avec des revenus de l'application Bumble entre 207 millions et 211 millions de dollars. Pour l'année entière 2024, le chiffre d'affaires total devrait se situer entre 1 066 millions et 1 072 millions de dollars, avec une augmentation de la marge EBITDA ajustée d'au moins 200 points de base.
Bumble Inc. (NASDAQ: BMBL) hat die Ergebnisse des dritten Quartals 2024 bekannt gegeben und dabei einen Rückgang der Gesamterlöse um 1% auf 274 Millionen US-Dollar festgestellt. Auch die Erlöse der Bumble-App sanken um 1% auf 220 Millionen US-Dollar, trotz eines 10%igen Anstiegs der zahlenden Nutzer auf 2,9 Millionen. Die Gesamtzahl der zahlenden Nutzer stieg auf 4,3 Millionen, aber der durchschnittliche Umsatz pro zahlendem Nutzer (ARPPU) fiel von 23,42 US-Dollar auf 21,17 US-Dollar. Das Unternehmen berichtete von einem Nettoverlust von 849,3 Millionen US-Dollar, bedingt durch 892,2 Millionen US-Dollar an nicht liquiditätswirksamen Wertminderungen. Das bereinigte EBITDA verbesserte sich auf 82,6 Millionen US-Dollar, was 30,2% der Erlöse entspricht. Bumble hat im dritten Quartal Aktien im Wert von 89,7 Millionen US-Dollar zurückgekauft und im Oktober weitere 30 Millionen US-Dollar, was 89 Millionen US-Dollar für Rückkäufe übrig lässt. Der finanzielle Ausblick für das vierte Quartal 2024 prognostiziert Gesamterlöse zwischen 256 Millionen und 262 Millionen US-Dollar, während die Einnahmen der Bumble-App zwischen 207 Millionen und 211 Millionen US-Dollar liegen sollen. Für das gesamte Jahr 2024 wird mit Gesamterlösen zwischen 1.066 Millionen und 1.072 Millionen US-Dollar gerechnet, mit einem Anstieg der bereinigten EBITDA-Marge von mindestens 200 Basispunkten.
- Bumble App paying users increased by 10% to 2.9 million.
- Adjusted EBITDA rose to $82.6 million, 30.2% of revenue.
- Total paying users increased to 4.3 million.
- Total revenue decreased by 1% to $274 million.
- Net loss of $849.3 million due to $892.2 million in non-cash impairment charges.
- Average revenue per paying user (ARPPU) fell to $21.17 from $23.42.
Total Revenue Decreased
Bumble App Revenue Decreased
Bumble App Paying Users Increased
“We delivered on our financial objectives for the third quarter as we executed on our plans to reimagine Bumble App to enable the next generation of online-to-real-world connections,” said Lidiane Jones, CEO of Bumble Inc. “Our work is focused on strengthening our ecosystem, rolling out a rebalanced marketing approach to drive high-quality user growth, achieving a steady cadence of product releases, and evolving our revenue strategy to better align with customer value. Our work will take time, but our powerful brand, scale, technical infrastructure and healthy financial position provide us with a strong foundation to build toward our vision.”
Third Quarter 2024 Financial and Operational Highlights:
(All comparisons relative to the Third Quarter 2023)
-
Total Revenue decreased
0.7% to$273.6 million $275.5 million $1.3 million -
Bumble App Revenue decreased
0.7% to$220.2 million $221.8 million $0.9 million -
Badoo App and Other Revenue decreased
0.6% to$53.4 million $53.7 million $0.4 million
-
Bumble App Revenue decreased
- Total Paying Users increased to 4.3 million, compared to 3.8 million.
-
Total Average Revenue per Paying User ("ARPPU") decreased to
$21.17 $23.42 -
Net loss was
$849.3 million $892.2 million $23.1 million 8.4% of revenue. -
Adjusted EBITDA was
$82.6 million 30.2% of revenue, compared to$75.3 million 27.3% of revenue.
Information about Bumble's use of non-GAAP financial measures is provided below under “Non-GAAP Financial Measures.”
“We reported total revenue and Bumble App revenue within our Q3 outlook ranges, while our team’s strong operational focus led to Adjusted EBITDA that exceeded our outlook,” said Anu Subramanian, CFO of Bumble Inc. “Operating with discipline and generating solid cash flow enabled us to continue to return cash to our shareholders, while allowing us to invest in key initiatives to drive our long-term growth plans for our business.”
Key Operating Metrics:
The following metrics were calculated excluding paying users and revenue generated from Official, advertising and partnerships or affiliates and, for periods prior to the fourth quarter of 2023, excluding paying users and revenue generated from Fruitz. Beginning in the fourth quarter of 2023, paying users and revenue generated from Fruitz are included in our key operating metrics. Prior period information and key operating metrics have not been recast to include paying users and revenue generated from Fruitz.
(In thousands, except ARPPU) |
|
Three Months Ended
|
|
|
Three Months Ended
|
|
||
Bumble App Paying Users |
|
|
2,869.3 |
|
|
|
2,604.9 |
|
Badoo App and Other Paying Users |
|
|
1,386.2 |
|
|
|
1,215.6 |
|
Total Paying Users |
|
|
4,255.5 |
|
|
|
3,820.5 |
|
Bumble App Average Revenue per Paying User |
|
$ |
25.58 |
|
|
$ |
28.38 |
|
Badoo App and Other Average Revenue per Paying User |
|
$ |
12.03 |
|
|
$ |
12.79 |
|
Total Average Revenue per Paying User |
|
$ |
21.17 |
|
|
$ |
23.42 |
|
Balance Sheet:
As of September 30, 2024, total cash and cash equivalents were
The Company concluded that it was necessary to perform an interim impairment test as of September 30, 2024, primarily as a result of a sustained decline in the Company's stock price and market capitalization. Based on the results of the test, we recognized non-cash impairment charges of
Share Repurchase Program:
During the third quarter of 2024, the Company repurchased
In October 2024, the Company repurchased
As of October 31, 2024, a total of
Financial Outlook:
A reconciliation of Adjusted EBITDA to GAAP net earnings (loss) and Adjusted EBITDA margin growth to GAAP net earnings (loss) margin growth which is growth in GAAP net earnings (loss) as a percentage of revenue has not been provided for the outlook included herein as the quantification of certain items included in the calculation of GAAP net earnings (loss) cannot be calculated or predicted at this time without unreasonable efforts. For example, the non-GAAP adjustment for stock-based compensation expense requires additional inputs such as number of shares granted and market price that are not currently ascertainable, and the non-GAAP adjustment for certain legal, tax and regulatory reserves and expenses depends on the timing and magnitude of these expenses and cannot be accurately forecasted. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.
Bumble anticipates the following for the fourth quarter ending December 31, 2024 and full year ending December 31, 2024:
Fourth Quarter 2024:
-
Total Revenue in the range of
$256 million $262 million -
Bumble App Revenue of
$207 million $211 million
-
Bumble App Revenue of
-
Adjusted EBITDA of
$70 million $73 million
Full Year 2024:
-
Total Revenue in the range of
$1,066 million $1,072 million -
Bumble App Revenue of
$861 million $865 million
-
Bumble App Revenue of
- Adjusted EBITDA margin growth of at least 200 basis points.
Actual results may differ materially from Bumble’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.
Conference Call and Webcast Information
Bumble will host a live webcast of its conference call to discuss its third quarter 2024 financial results at 4:30 p.m. Eastern Time today, November 6, 2024. A webcast of the call and other information related to the call will be accessible on the Investors section of the Company’s website at https://ir.bumble.com. A webcast replay will be available approximately two hours after the conclusion of the live event.
Definitions
As used in this press release, unless otherwise noted or the context requires otherwise, the following terms have the following meanings. Our key metrics (Bumble App Paying Users, Badoo App and Other Paying Users, Total Paying Users, Bumble App Average Revenue per Paying User, Badoo App and Other Average Revenue per Paying User, and Total Average Revenue per Paying User) were calculated excluding paying users and revenue generated from Official, advertising and partnerships or affiliates and, for periods prior to the fourth quarter of 2023, excluding paying users and revenue generated from Fruitz. Beginning in the fourth quarter of 2023, paying users and revenue generated from Fruitz are included in our key operating metrics.
Total Revenue is the sum of Bumble App Revenue and Badoo App and Other Revenue.
Total Paying Users is the sum of Bumble App Paying Users and Badoo App and Other Paying Users.
Total Average Revenue per Paying User or Total ARPPU is a metric calculated based on Total Revenue in any measurement period divided by the Total Paying Users in such period divided by the number of months in the period.
Bumble App Revenue is revenue derived from purchases or renewals of a Bumble app or Bumble For Friends app subscription plan and/or in-app purchases on Bumble app or Bumble For Friends app in the relevant period.
Bumble App Paying User is a user that has purchased or renewed a Bumble app or Bumble For Friends app subscription plan and/or made an in-app purchase on Bumble app or Bumble For Friends app in a given month. We calculate Bumble App Paying Users as a monthly average, by counting the number of Bumble App Paying Users in each month and then dividing by the number of months in the relevant measurement period.
Bumble App Average Revenue per Paying User or Bumble App ARPPU is a metric calculated based on Bumble App Revenue in any measurement period, divided by Bumble App Paying Users in such period divided by the number of months in the period.
Badoo App and Other Revenue is revenue derived from purchases or renewals of a Badoo app subscription plan and/or in-app purchases on Badoo app in the relevant period, purchases on one of our other apps that we owned and operated in the relevant period, purchases on other third party apps that used our technology in the relevant period and advertising, partnerships or affiliates revenue in the relevant period.
Badoo App and Other Paying User is a user that has purchased or renewed a subscription plan and/or made an in-app purchase on Badoo app in a given month or made a purchase on one of our other apps that we owned and operated in a given month, or made a purchase on other third-party apps that used our technology in the relevant period. We calculate Badoo App and Other Paying Users as a monthly average, by counting the number of Badoo App and Other Paying Users in each month and then dividing by the number of months in the relevant measurement period.
Badoo App and Other Average Revenue per Paying User or Badoo App and Other ARPPU is a metric calculated based on Badoo App and Other Revenue in any measurement period divided by Badoo App and Other Paying Users in such period divided by the number of months in the period.
Non-GAAP Financial Measures
We report our financial results in accordance with GAAP, however, management believes that certain non-GAAP financial measures provide users of our financial information with useful supplemental information that enables a better comparison of our performance across periods. We believe Adjusted EBITDA provides visibility to the underlying continuing operating performance by excluding the impact of certain expenses, including income tax (benefit) provision, interest (income) expense, net, depreciation and amortization expense, stock-based compensation expenses, employer costs related to stock-based compensation, foreign exchange (gain) loss, changes in fair value of contingent earn-out liability, interest rate swaps and investments in equity securities, transaction and other costs, litigation costs net of insurance reimbursements that arise outside of the ordinary course of business, tax receivable agreement liability remeasurement (benefit) expense, impairment loss, and costs associated with our restructuring plan, as management does not believe these expenses are representative of our core earnings. We also provide Adjusted EBITDA margin, which is calculated as Adjusted EBITDA divided by revenue. In addition to Adjusted EBITDA and Adjusted EBITDA margin, we believe free cash flow and free cash flow conversion provide useful information regarding how cash provided by (used in) operating activities compares to the capital expenditures required to maintain and grow our business, and our available liquidity, after funding such capital expenditures, to service our debt, fund strategic initiatives, effectuate discretionary share repurchases and strengthen our balance sheet, as well as our ability to convert our earnings to cash. Additionally, we believe such metrics are widely used by investors, securities analysis, ratings agencies and other parties in evaluating liquidity and debt-service capabilities. We calculate free cash flow and free cash flow conversion using methodologies that we believe can provide useful supplemental information to help investors better understand underlying trends in our business.
Our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies, have limitations as analytical tools and should not be considered in isolation, or as substitutes for analysis of our operating results as reported under GAAP. Additionally, we do not consider our non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP.
Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is defined as net earnings (loss) excluding income tax (benefit) provision, interest (income) expense, net, depreciation and amortization expense, stock-based compensation expense, employer costs related to stock-based compensation, foreign exchange (gain) loss, changes in fair value of contingent earn-out liability, interest rate swaps and investments in equity securities, transaction and other costs, litigation costs net of insurance reimbursements that arise outside of the ordinary course of business, tax receivable agreement liability remeasurement (benefit) expense, impairment loss, and restructuring costs.
Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue.
Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures.
Free cash flow conversion represents free cash flow as a percentage of Adjusted EBITDA.
Operating cash flow conversion represents net cash provided by (used in) operating activities as a percentage of net earnings (loss).
Forward-Looking Statements
This press release 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 and our business and other non-historical statements, including without limitation statements related to our strategic plans and initiatives (including our marketing approach, product releases and revenue strategy) and the statements in the “Financial Outlook” section of this press release. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe(s),” “expect(s),” “potential,” “continue(s),” “may,” “will,” “should,” “could,” “would,” “seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),” “anticipates,” “projection,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include, but are not limited to, the following:
- our ability to retain existing users or attract new users and to convert users to paying users (including as a result of shifts in strategy)
- competition and changes in the competitive landscape of our market
- our ability to distribute our dating products through third parties, such as Apple App Store or Google Play Store, and offset related fees
- our ability to maintain the value and reputation of our brands
- risks relating to changes to our existing brands and products, or the introduction or acquisition of new brands or products
- risks relating to certain of our international operations, including geopolitical conditions and successful expansion into new markets
- the impact of data security breaches or cyber attacks on our systems and the costs of remediation related to any such incidents
- challenges with properly managing the use of artificial intelligence
- our ability to obtain, maintain, protect and enforce intellectual property rights and successfully defend against claims of infringement, misappropriation or other violations of third-party intellectual property
-
our ability to comply with complex and evolving
U.S. and international laws and regulations relating to our business, including data privacy laws - our substantial indebtedness
- affiliates of Blackstone Inc.’s (“Blackstone”) and our Founder’s control of us
- the outsized voting rights of Blackstone and our Founder
- the risk that we may experience impairments to our goodwill and intangible assets as a result of a number of factors, some of which are beyond our control
- the risk that our recent global workforce reduction and restructuring of our operations may not generate their intended benefits to the extent or as quickly as anticipated
- our ability to attract, hire and retain a highly qualified and diverse workforce, or maintain our corporate culture
-
changes in business or macroeconomic conditions, including the impact of lower consumer confidence in our business or in the online dating industry generally, recessionary conditions, increased unemployment rates, stagnant or declining wages, changes in inflation or interest rates, geopolitical events, political unrest (which may be heightened in a
U.S. presidential election year), armed conflicts, including conflicts inEastern Europe and theMiddle East , widespread health emergencies or pandemics and measures taken in response, extreme weather events or natural disasters - foreign currency exchange rate fluctuations
For additional information on these and other factors that could cause Bumble’s actual results to differ materially from expected results, please see our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2024, as such factors may be updated from time to time in our subsequent periodic filings, which are accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
About Bumble
Bumble Inc. is the parent company of Bumble, Bumble For Friends, Badoo, Fruitz and Official. The Bumble platform enables people to build healthy and equitable relationships, through Kind Connections. Founded by Whitney Wolfe Herd in 2014, Bumble was one of the first dating apps built with women at the center and connects people across dating (Date mode), friendship (BFF Mode) and professional networking (Bizz mode). Bumble For Friends app is a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections. Badoo, which was founded in 2006, was one of the pioneers of web and mobile free-to-use dating products. Fruitz, founded in 2017, encourages honesty and transparency by sharing dating intentions from the first touch point. Official, founded in 2020, is an app that is intended to help couples build healthy and lasting habits in their romantic relationships.
Bumble Inc. Condensed Consolidated Balance Sheets (In thousands, except share and per share information) (Unaudited) |
||||||||
|
|
September 30, 2024 |
|
|
December 31, 2023 |
|
||
ASSETS |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
252,057 |
|
|
$ |
355,642 |
|
Accounts receivable (net of allowance of |
|
|
102,547 |
|
|
|
102,677 |
|
Other current assets |
|
|
28,725 |
|
|
|
34,732 |
|
Total current assets |
|
|
383,329 |
|
|
|
493,051 |
|
Right-of-use assets |
|
|
13,303 |
|
|
|
15,425 |
|
Property and equipment (net of accumulated depreciation of |
|
|
8,974 |
|
|
|
12,462 |
|
Goodwill |
|
|
1,389,002 |
|
|
|
1,585,750 |
|
Intangible assets, net |
|
|
764,406 |
|
|
|
1,484,290 |
|
Deferred tax assets, net |
|
|
22,558 |
|
|
|
27,029 |
|
Other noncurrent assets |
|
|
7,840 |
|
|
|
7,120 |
|
Total assets |
|
$ |
2,589,412 |
|
|
$ |
3,625,127 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
6,830 |
|
|
$ |
4,611 |
|
Deferred revenue |
|
|
45,329 |
|
|
|
48,749 |
|
Accrued expenses and other current liabilities |
|
|
125,083 |
|
|
|
185,799 |
|
Current portion of long-term debt, net |
|
|
5,750 |
|
|
|
5,750 |
|
Total current liabilities |
|
|
182,992 |
|
|
|
244,909 |
|
Long-term debt, net |
|
|
612,231 |
|
|
|
615,176 |
|
Deferred tax liabilities, net |
|
|
975 |
|
|
|
5,673 |
|
Payable to related parties pursuant to a tax receivable agreement |
|
|
412,958 |
|
|
|
407,389 |
|
Other long-term liabilities |
|
|
13,393 |
|
|
|
14,707 |
|
Total liabilities |
|
|
1,222,549 |
|
|
|
1,287,854 |
|
Commitments and contingencies |
|
|
|
|
|
|
||
Shareholders’ Equity: |
|
|
|
|
|
|
||
Class A common stock (par value |
|
|
1,398 |
|
|
|
1,385 |
|
Class B common stock (par value |
|
|
— |
|
|
|
— |
|
Preferred stock (par value |
|
|
— |
|
|
|
— |
|
Additional paid-in capital |
|
|
1,749,314 |
|
|
|
1,772,449 |
|
Treasury stock (27,294,303 and 7,832,473 shares as of September 30, 2024 and December 31, 2023, respectively) |
|
|
(266,045 |
) |
|
|
(73,764 |
) |
Accumulated deficit |
|
|
(705,271 |
) |
|
|
(144,084 |
) |
Accumulated other comprehensive income |
|
|
73,166 |
|
|
|
79,029 |
|
Total Bumble Inc. shareholders’ equity |
|
|
852,562 |
|
|
|
1,635,015 |
|
Noncontrolling interests |
|
|
514,301 |
|
|
|
702,258 |
|
Total shareholders’ equity |
|
|
1,366,863 |
|
|
|
2,337,273 |
|
Total liabilities and shareholders’ equity |
|
$ |
2,589,412 |
|
|
$ |
3,625,127 |
|
Bumble Inc. Condensed Consolidated Statements of Operations (In thousands, except per share information) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
|
|
||||
Revenue |
|
$ |
273,605 |
|
|
$ |
275,510 |
|
|
$ |
809,995 |
|
|
$ |
778,193 |
|
Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of revenue |
|
|
79,552 |
|
|
|
80,049 |
|
|
|
240,882 |
|
|
|
227,366 |
|
Selling and marketing expense |
|
|
63,549 |
|
|
|
68,848 |
|
|
|
194,728 |
|
|
|
197,767 |
|
General and administrative expense |
|
|
33,251 |
|
|
|
48,577 |
|
|
|
90,436 |
|
|
|
141,706 |
|
Product development expense |
|
|
24,880 |
|
|
|
30,909 |
|
|
|
76,602 |
|
|
|
100,294 |
|
Depreciation and amortization expense |
|
|
18,312 |
|
|
|
17,127 |
|
|
|
52,542 |
|
|
|
50,825 |
|
Impairment loss |
|
|
892,248 |
|
|
|
— |
|
|
|
892,248 |
|
|
|
— |
|
Total operating costs and expenses |
|
|
1,111,792 |
|
|
|
245,510 |
|
|
|
1,547,438 |
|
|
|
717,958 |
|
Operating earnings (loss) |
|
|
(838,187 |
) |
|
|
30,000 |
|
|
|
(737,443 |
) |
|
|
60,235 |
|
Interest expense, net |
|
|
(9,809 |
) |
|
|
(5,256 |
) |
|
|
(27,809 |
) |
|
|
(16,585 |
) |
Other income (expense), net |
|
|
2,898 |
|
|
|
252 |
|
|
|
3,815 |
|
|
|
(6,278 |
) |
Income (loss) before income taxes |
|
|
(845,098 |
) |
|
|
24,996 |
|
|
|
(761,437 |
) |
|
|
37,372 |
|
Income tax provision |
|
|
(4,161 |
) |
|
|
(1,872 |
) |
|
|
(16,263 |
) |
|
|
(7,228 |
) |
Net earnings (loss) |
|
|
(849,259 |
) |
|
|
23,124 |
|
|
|
(777,700 |
) |
|
|
30,144 |
|
Net earnings (loss) attributable to noncontrolling interests |
|
|
(236,060 |
) |
|
|
6,453 |
|
|
|
(216,513 |
) |
|
|
8,331 |
|
Net earnings (loss) attributable to Bumble Inc. shareholders |
|
$ |
(613,199 |
) |
|
$ |
16,671 |
|
|
$ |
(561,187 |
) |
|
$ |
21,813 |
|
Net earnings (loss) per share attributable to Bumble Inc. shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic earnings (loss) per share |
|
$ |
(5.11 |
) |
|
$ |
0.12 |
|
|
$ |
(4.53 |
) |
|
$ |
0.16 |
|
Diluted earnings (loss) per share |
|
$ |
(5.11 |
) |
|
$ |
0.12 |
|
|
$ |
(4.53 |
) |
|
$ |
0.16 |
|
Bumble Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
|
|
||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net earnings (loss) |
|
$ |
(849,259 |
) |
|
$ |
23,124 |
|
|
$ |
(777,700 |
) |
|
$ |
30,144 |
|
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Impairment loss |
|
|
892,248 |
|
|
|
— |
|
|
|
892,248 |
|
|
|
— |
|
Depreciation and amortization expense |
|
|
18,312 |
|
|
|
17,127 |
|
|
|
52,542 |
|
|
|
50,825 |
|
Changes in fair value of interest rate swaps |
|
|
8,687 |
|
|
|
3,796 |
|
|
|
6,995 |
|
|
|
9,029 |
|
Changes in fair value of contingent earn-out liability |
|
|
(2,689 |
) |
|
|
(11,308 |
) |
|
|
(22,032 |
) |
|
|
(24,241 |
) |
Non-cash lease expense |
|
|
815 |
|
|
|
893 |
|
|
|
2,598 |
|
|
|
2,640 |
|
Tax receivable agreement liability remeasurement expense |
|
|
721 |
|
|
|
— |
|
|
|
951 |
|
|
|
— |
|
Deferred income tax |
|
|
(1,172 |
) |
|
|
(3,364 |
) |
|
|
314 |
|
|
|
(8,880 |
) |
Stock-based compensation expense |
|
|
10,158 |
|
|
|
21,528 |
|
|
|
12,273 |
|
|
|
83,660 |
|
Net foreign exchange difference |
|
|
7,357 |
|
|
|
(2,973 |
) |
|
|
8,015 |
|
|
|
(3,300 |
) |
Other, net |
|
|
(13,196 |
) |
|
|
(21,460 |
) |
|
|
(15,655 |
) |
|
|
1,240 |
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Accounts receivable |
|
|
(1,400 |
) |
|
|
(1,778 |
) |
|
|
1,262 |
|
|
|
(32,759 |
) |
Other current assets |
|
|
2,286 |
|
|
|
472 |
|
|
|
(1,659 |
) |
|
|
(1,784 |
) |
Accounts payable |
|
|
1,098 |
|
|
|
(2,770 |
) |
|
|
2,258 |
|
|
|
2,464 |
|
Deferred revenue |
|
|
(1,373 |
) |
|
|
1,195 |
|
|
|
(3,420 |
) |
|
|
3,149 |
|
Legal liabilities |
|
|
(816 |
) |
|
|
19,725 |
|
|
|
(26,044 |
) |
|
|
1,475 |
|
Lease liabilities |
|
|
(276 |
) |
|
|
(1,009 |
) |
|
|
(1,028 |
) |
|
|
(2,991 |
) |
Accrued expenses and other current liabilities |
|
|
21,345 |
|
|
|
18,993 |
|
|
|
(3,652 |
) |
|
|
7,664 |
|
Other, net |
|
|
648 |
|
|
|
378 |
|
|
|
573 |
|
|
|
334 |
|
Net cash provided by operating activities |
|
|
93,494 |
|
|
|
62,569 |
|
|
|
128,839 |
|
|
|
118,669 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Capital expenditures |
|
|
(1,619 |
) |
|
|
(3,559 |
) |
|
|
(6,150 |
) |
|
|
(12,769 |
) |
Acquisition of business, net of cash acquired |
|
|
— |
|
|
|
57 |
|
|
|
— |
|
|
|
(9,820 |
) |
Acquisition of intangible assets |
|
|
(17,435 |
) |
|
|
— |
|
|
|
(17,435 |
) |
|
|
— |
|
Net cash used in investing activities |
|
|
(19,054 |
) |
|
|
(3,502 |
) |
|
|
(23,585 |
) |
|
|
(22,589 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Repayment of term loan |
|
|
(1,438 |
) |
|
|
(1,438 |
) |
|
|
(4,313 |
) |
|
|
(4,313 |
) |
Distributions paid to noncontrolling interest holders |
|
|
(2,259 |
) |
|
|
(46 |
) |
|
|
(7,877 |
) |
|
|
(19,287 |
) |
Share repurchases |
|
|
(89,735 |
) |
|
|
— |
|
|
|
(151,843 |
) |
|
|
(20,890 |
) |
Purchase of Common Units |
|
|
(29 |
) |
|
|
— |
|
|
|
(22,184 |
) |
|
|
— |
|
Withholding tax paid on behalf of employees on stock-based awards |
|
|
(1,343 |
) |
|
|
(2,171 |
) |
|
|
(9,590 |
) |
|
|
(13,865 |
) |
Payments on tax receivable agreement |
|
|
(11,942 |
) |
|
|
— |
|
|
|
(11,942 |
) |
|
|
— |
|
Net cash used in financing activities |
|
|
(106,746 |
) |
|
|
(3,655 |
) |
|
|
(207,749 |
) |
|
|
(58,355 |
) |
Effects of exchange rate changes on cash and cash equivalents |
|
|
(2,660 |
) |
|
|
2,419 |
|
|
|
(1,443 |
) |
|
|
(2,117 |
) |
Net increase (decrease) in cash and cash equivalents and restricted cash |
|
|
(34,966 |
) |
|
|
57,831 |
|
|
|
(103,938 |
) |
|
|
35,608 |
|
Cash and cash equivalents and restricted cash, beginning of the period |
|
|
290,230 |
|
|
|
384,819 |
|
|
|
359,202 |
|
|
|
407,042 |
|
Cash and cash equivalents and restricted cash, end of the period |
|
|
255,264 |
|
|
|
442,650 |
|
|
|
255,264 |
|
|
|
442,650 |
|
Less restricted cash |
|
|
(3,207 |
) |
|
|
(3,466 |
) |
|
|
(3,207 |
) |
|
|
(3,466 |
) |
Cash and cash equivalents, end of the period |
|
$ |
252,057 |
|
|
$ |
439,184 |
|
|
$ |
252,057 |
|
|
$ |
439,184 |
|
Bumble Inc. Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited)
Reconciliation of Net Earnings (Loss) to Adjusted EBITDA and Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands, except percentages) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
|
|
||||
Net earnings (loss) |
|
$ |
(849,259 |
) |
|
$ |
23,124 |
|
|
$ |
(777,700 |
) |
|
$ |
30,144 |
|
Add back: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income tax provision |
|
|
4,161 |
|
|
|
1,872 |
|
|
|
16,263 |
|
|
|
7,228 |
|
Interest expense, net |
|
|
9,809 |
|
|
|
5,256 |
|
|
|
27,809 |
|
|
|
16,585 |
|
Depreciation and amortization expense |
|
|
18,312 |
|
|
|
17,127 |
|
|
|
52,542 |
|
|
|
50,825 |
|
Stock-based compensation expense |
|
|
10,158 |
|
|
|
21,528 |
|
|
|
12,273 |
|
|
|
83,660 |
|
Employer costs related to stock-based compensation (1) |
|
|
441 |
|
|
|
1,003 |
|
|
|
2,390 |
|
|
|
4,025 |
|
Litigation costs, net of insurance reimbursements (2) |
|
|
959 |
|
|
|
16,323 |
|
|
|
9,695 |
|
|
|
24,874 |
|
Foreign exchange gain (3) |
|
|
(12,143 |
) |
|
|
(3,905 |
) |
|
|
(11,515 |
) |
|
|
(2,439 |
) |
Changes in fair value of interest rate swaps (4) |
|
|
8,687 |
|
|
|
3,796 |
|
|
|
6,995 |
|
|
|
9,029 |
|
Restructuring costs (5) |
|
|
582 |
|
|
|
— |
|
|
|
20,355 |
|
|
|
— |
|
Transaction and other costs (6) |
|
|
583 |
|
|
|
463 |
|
|
|
1,297 |
|
|
|
1,994 |
|
Changes in fair value of contingent earn-out liability |
|
|
(2,689 |
) |
|
|
(11,308 |
) |
|
|
(22,032 |
) |
|
|
(24,241 |
) |
Changes in fair value of investments in equity securities |
|
|
(20 |
) |
|
|
2 |
|
|
|
26 |
|
|
|
178 |
|
Tax receivable agreement liability remeasurement expense (7) |
|
|
721 |
|
|
|
— |
|
|
|
951 |
|
|
|
— |
|
Impairment loss (8) |
|
|
892,248 |
|
|
|
— |
|
|
|
892,248 |
|
|
|
— |
|
Adjusted EBITDA |
|
$ |
82,550 |
|
|
$ |
75,281 |
|
|
$ |
231,597 |
|
|
$ |
201,862 |
|
Net earnings (loss) margin |
|
|
(310.4 |
)% |
|
|
8.4 |
% |
|
|
(96.0 |
)% |
|
|
3.9 |
% |
Adjusted EBITDA margin |
|
|
30.2 |
% |
|
|
27.3 |
% |
|
|
28.6 |
% |
|
|
25.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net cash provided by operating activities |
|
$ |
93,494 |
|
|
$ |
62,569 |
|
|
$ |
128,839 |
|
|
$ |
118,669 |
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Capital expenditures |
|
|
(1,619 |
) |
|
|
(3,559 |
) |
|
|
(6,150 |
) |
|
|
(12,769 |
) |
Free cash flow |
|
$ |
91,875 |
|
|
$ |
59,010 |
|
|
$ |
122,689 |
|
|
$ |
105,900 |
|
Operating cash flow conversion |
|
* |
|
|
|
270.6 |
% |
|
* |
|
|
|
393.7 |
% |
||
Free cash flow conversion |
|
|
111.3 |
% |
|
|
78.4 |
% |
|
|
53.0 |
% |
|
|
52.5 |
% |
* Not meaningful |
||
(1) |
Represents employer portion of Social Security and Medicare payroll taxes domestically, National Insurance contributions in the |
|
(2) |
Represents certain litigation costs, net of insurance proceeds associated with pending litigations or settlements of litigation that arise outside of the ordinary course of business. |
|
(3) |
Represents foreign exchange gain due to foreign currency transactions. |
|
(4) |
Represents fair value loss on interest rate swaps. |
|
(5) |
Represents costs associated with the restructuring plan announced in February 2024, such as severance, benefits and other related costs. |
|
(6) |
Represents transaction costs related to acquisitions and secondary offerings such as legal, accounting, advisory fees and other related costs. |
|
(7) |
Represents recognized adjustments to the tax receivable agreement liability. |
|
(8) |
Represents impairment charges to indefinite-lived intangible assets, the Fruitz asset group and goodwill in 2024. |
|
Supplementary Information (Unaudited)
Stock-Based Compensation Expense |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
|
|
||||
Cost of revenue |
|
$ |
45 |
|
|
$ |
542 |
|
|
$ |
364 |
|
|
$ |
2,800 |
|
Selling and marketing expense |
|
|
490 |
|
|
|
2,469 |
|
|
|
(2,328 |
) |
|
|
7,191 |
|
General and administrative expense |
|
|
7,781 |
|
|
|
10,352 |
|
|
|
14,167 |
|
|
|
44,029 |
|
Product development expense |
|
|
1,842 |
|
|
|
8,165 |
|
|
|
70 |
|
|
|
29,640 |
|
Total stock-based compensation expense |
|
$ |
10,158 |
|
|
$ |
21,528 |
|
|
$ |
12,273 |
|
|
$ |
83,660 |
|
Reconciliation of GAAP costs and expenses to non-GAAP costs and expenses by function |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months Ended September 30, 2023 |
|
||||
Cost of revenue GAAP |
|
$ |
79,552 |
|
|
$ |
80,049 |
|
|
$ |
240,882 |
|
|
$ |
227,366 |
|
Stock-based compensation expense |
|
|
(45 |
) |
|
|
(542 |
) |
|
|
(364 |
) |
|
|
(2,800 |
) |
Employer costs related to stock-based compensation |
|
|
(19 |
) |
|
|
(42 |
) |
|
|
(113 |
) |
|
|
(197 |
) |
Restructuring costs |
|
|
35 |
|
|
|
— |
|
|
|
(971 |
) |
|
|
— |
|
Transaction and other costs |
|
|
(279 |
) |
|
|
— |
|
|
|
(423 |
) |
|
|
— |
|
Cost of revenue non-GAAP |
|
$ |
79,244 |
|
|
$ |
79,465 |
|
|
$ |
239,011 |
|
|
$ |
224,369 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
|
|
||||
Selling and marketing expense GAAP |
|
$ |
63,549 |
|
|
$ |
68,848 |
|
|
$ |
194,728 |
|
|
$ |
197,767 |
|
Stock-based compensation expense |
|
|
(490 |
) |
|
|
(2,469 |
) |
|
|
2,328 |
|
|
|
(7,191 |
) |
Employer costs related to stock-based compensation |
|
|
(25 |
) |
|
|
(72 |
) |
|
|
(229 |
) |
|
|
(309 |
) |
Restructuring costs |
|
|
3 |
|
|
|
— |
|
|
|
(3,244 |
) |
|
|
— |
|
Selling and marketing expense non-GAAP |
|
$ |
63,037 |
|
|
$ |
66,307 |
|
|
$ |
193,583 |
|
|
$ |
190,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
Ended
|
|
||||
General and administrative expense GAAP |
|
$ |
33,251 |
|
|
$ |
48,577 |
|
|
$ |
90,436 |
|
|
$ |
141,706 |
|
Changes in fair value of contingent earn-out liability |
|
|
2,689 |
|
|
|
11,308 |
|
|
|
22,032 |
|
|
|
24,241 |
|
Litigation costs, net of insurance proceeds |
|
|
(959 |
) |
|
|
(16,323 |
) |
|
|
(9,695 |
) |
|
|
(24,874 |
) |
Stock-based compensation expense |
|
|
(7,781 |
) |
|
|
(10,352 |
) |
|
|
(14,167 |
) |
|
|
(44,029 |
) |
Employer costs related to stock-based compensation |
|
|
(208 |
) |
|
|
(193 |
) |
|
|
(819 |
) |
|
|
(1,239 |
) |
Restructuring costs |
|
|
(22 |
) |
|
|
— |
|
|
|
(6,094 |
) |
|
|
— |
|
Transaction and other costs |
|
|
44 |
|
|
|
(463 |
) |
|
|
(526 |
) |
|
|
(1,994 |
) |
General and administrative expense non-GAAP |
|
$ |
27,014 |
|
|
$ |
32,554 |
|
|
$ |
81,167 |
|
|
$ |
93,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
September 30,
|
|
||||
Product development expense GAAP |
|
$ |
24,880 |
|
|
$ |
30,909 |
|
|
$ |
76,602 |
|
|
$ |
100,294 |
|
Stock-based compensation expense |
|
|
(1,842 |
) |
|
|
(8,165 |
) |
|
|
(70 |
) |
|
|
(29,640 |
) |
Employer costs related to stock-based compensation |
|
|
(189 |
) |
|
|
(696 |
) |
|
|
(1,229 |
) |
|
|
(2,280 |
) |
Restructuring costs |
|
|
(598 |
) |
|
|
— |
|
|
|
(10,046 |
) |
|
|
— |
|
Transaction and other costs |
|
|
(348 |
) |
|
|
— |
|
|
|
(348 |
) |
|
|
— |
|
Product development expense non-GAAP |
|
$ |
21,903 |
|
|
$ |
22,048 |
|
|
$ |
64,909 |
|
|
$ |
68,374 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
(In thousands) |
|
Three Months
|
|
|
Three Months
|
|
|
Nine Months
|
|
|
Nine Months
|
|
||||
Total operating costs and expenses GAAP |
|
$ |
1,111,792 |
|
|
$ |
245,510 |
|
|
$ |
1,547,438 |
|
|
$ |
717,958 |
|
Impairment loss |
|
|
(892,248 |
) |
|
|
— |
|
|
|
(892,248 |
) |
|
|
— |
|
Depreciation and amortization expense |
|
|
(18,312 |
) |
|
|
(17,127 |
) |
|
|
(52,542 |
) |
|
|
(50,825 |
) |
Changes in fair value of contingent earn-out liability |
|
|
2,689 |
|
|
|
11,308 |
|
|
|
22,032 |
|
|
|
24,241 |
|
Litigation costs, net of insurance proceeds |
|
|
(959 |
) |
|
|
(16,323 |
) |
|
|
(9,695 |
) |
|
|
(24,874 |
) |
Stock-based compensation expense |
|
|
(10,158 |
) |
|
|
(21,528 |
) |
|
|
(12,273 |
) |
|
|
(83,660 |
) |
Employer costs related to stock-based compensation |
|
|
(441 |
) |
|
|
(1,003 |
) |
|
|
(2,390 |
) |
|
|
(4,026 |
) |
Restructuring costs |
|
|
(582 |
) |
|
|
— |
|
|
|
(20,355 |
) |
|
|
— |
|
Transaction and other costs |
|
|
(583 |
) |
|
|
(463 |
) |
|
|
(1,297 |
) |
|
|
(1,994 |
) |
Total operating costs and expenses non-GAAP |
|
$ |
191,198 |
|
|
$ |
200,374 |
|
|
$ |
578,670 |
|
|
$ |
576,820 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241106020307/en/
Investor Contact
ir@team.bumble.com
Media Contact
press@team.bumble.com
Source: Bumble Inc.
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