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Grindr Inc. (symbol: GRND) is a leading social networking app specifically designed for gay, bi, trans, and queer individuals. The platform provides a secure and discreet environment where users can connect without the need to share personal information. Founded with the mission to bring together like-minded individuals, Grindr has grown to become a significant player in the social networking space.
As an agile company, Grindr is known for its focus on engineering excellence. The team employs pair programming and behavior-driven development (BDD) principles to ensure high-quality software development. With a robust testing framework that achieves over 90% test code coverage, the company guarantees a reliable and user-friendly experience.
Grindr's technology stack includes a powerful back-end built with non-blocking I/O Akka and the Scala framework. The business components are developed using Java, and the infrastructure is configured with Zookeeper to manage AWS Elastic Beanstalk clusters. This advanced setup supports the app’s high-performance requirements, including over 1 million active hourly users, 10,000 API calls per second, and 135 million chat messages per day.
The company leverages cutting-edge cloud computing and caching techniques to scale globally. Key technologies in their infrastructure include Redis, Elasticsearch, AMQP RabbitMQ, Amazon RDS, and DynamoDB. Additionally, MongooseIM, an Erlang-based platform, is used to manage chat functionalities, ensuring seamless user interactions.
Grindr has continually evolved to meet the needs of its user base, introducing new features and enhancements to improve the user experience. The app is available on both iOS and Android, powered by the Grindr 3.0 back-end, offering a consistent and high-performance experience across devices.
In recent years, Grindr has achieved several milestones, including expanding its user base, improving app performance, and forming strategic partnerships to enhance its offerings. As a publicly traded company, Grindr remains committed to maintaining its leadership position in the social networking space through continuous innovation and user-centric development.
Grindr (NYSE: GRND) has announced it will release its fourth quarter and full year 2024 financial results after market close on Wednesday, March 5, 2025. The company will post a Shareholder Letter to its Investor Relations website, followed by a webcasted conference call to discuss the results.
The earnings conference call is scheduled for 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on March 5, 2025. Investors can access the live webcast and archived recording of the call through Grindr's Investor Relations website at https://investors.grindr.com.
Grindr (NYSE: GRND) has announced the Redemption Fair Market Value of $17.96 for its outstanding public and private placement warrants redemption. The company will redeem all unexercised warrants at $0.10 per warrant on February 24, 2025 (Redemption Date).
Warrant holders have two exercise options until the Redemption Date: (1) cash exercise at $11.50 per common stock share, or (2) cashless exercise receiving 0.361 shares per warrant. The cashless conversion rate was determined based on the volume-weighted average stock price during the ten trading days after January 23, 2025.
The warrants, currently trading under 'GRND.WS' on NYSE, will cease trading on February 21, 2025. Any warrants remaining unexercised after the Redemption Date will become void, with holders receiving $0.10 per warrant.
Grindr (NYSE: GRND) expects to exceed its 2024 revenue outlook with projections between $343 million and $345 million, representing a 32%-33% year-over-year growth. The company reaffirms its Adjusted EBITDA margin of 42% or greater for the full year 2024, driven by strong direct ad sales and continued subscription growth.
Grindr also announced the redemption of its public and private placement warrants. Holders can redeem warrants at $0.10 per warrant by 5:00 p.m. New York City time on February 24, 2025, or exercise their warrants for cash or on a cashless basis. As of the press release date, Grindr has 18,799,825 public warrants and 18,560,000 private placement warrants outstanding. The warrants will cease to be listed on the NYSE effective at the close of trading on February 21, 2025.
Holders who do not exercise by the deadline will receive $0.10 per warrant. Grindr has registered the shares underlying the warrants under the Securities Act of 1933. For redemption and exercise inquiries, holders can contact Continental Stock Transfer & Trust Company.
Grindr (NYSE: GRND) has announced its ambitious 2025 product roadmap, featuring six new intent-based travel and AI personalization products. The company plans to introduce AI-powered features including Chat Summaries, A-list for meaningful connections, For You personalized recommendations, and Discover for global profile matching.
Travel-focused features include Explore Heatmap for identifying local hotspots and Travel Pass offering unlimited Roam and Boost capabilities with chat translations. The company will also test new Gayborhood products in the health and wellness sector.
These launches build on Grindr's 2024 progress, which included the release of Right Now for immediate connections (currently in D.C. and Australia), Roam for travel connections, Super Boost for enhanced profile visibility, and AI assistant Wingman being tested with 10,000 U.S. users.
Grindr announced that its Roam feature, which allows users to explore and connect with locals worldwide, will be available for free during a 12-day holiday period from December 22 to January 2 in the U.S., sponsored by ViiV Healthcare. Typically priced at $5.99 per hour, Roam enables users to have their profiles appear on local grids in different cities or countries, facilitating connections for travel planning, relocation, or virtual exploration. The feature, launched earlier this year, has already helped thousands of users connect with locals before visiting new destinations.
Grindr (NYSE: GRND) announced its participation in the upcoming Raymond James 2024 TMT & Consumer Conference in New York. The company's Chief Financial Officer, Vanna Krantz, will engage in a fireside chat scheduled for Monday, December 9, 2024, at 11:20 AM ET.
The event will be accessible through a live webcast on Grindr's investor relations website, with an archived replay available after the presentation. This conference appearance represents an opportunity for investors to gain insights into the company's financial outlook and strategic direction.
Grindr (NYSE: GRND) reported a 27% revenue growth in Q3 2024, reaching $89 million. Net income stood at $25 million with a 28% net income margin. The company achieved an Adjusted EBITDA of $40 million and a 45% Adjusted EBITDA margin. As a result, Grindr has raised its FY 2024 revenue guidance to 29% or greater growth. CEO George Arison highlighted the company's strong performance and improvements in app features and user experience. The earnings webcast will be held on November 7, 2024, at 2:00 p.m. Pacific Time and can be accessed via Grindr’s Investor Relations website.
Grindr (NYSE: GRND) has scheduled its third quarter 2024 financial results announcement for Thursday, November 7, 2024, after market close. The company will publish a Shareholder Letter on its Investor Relations website, followed by a webcasted earnings conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). An archived version of the webcast will be available on the company's Investor Relations page for later viewing.
Grindr Inc. (NYSE: GRND), the Global Gayborhood in Your Pocket™, has announced its participation in two upcoming investor conferences. The company will be represented at Citi's 2024 Global TMT Conference in New York on September 5, 2024, with CFO Vanna Krantz leading a fireside chat at 4:40 PM ET. Additionally, Grindr will attend the Goldman Sachs Communacopia + Technology Conference in San Francisco on September 10, 2024, where CEO George Arison will present at 4:25 PM PT.
Both fireside chat presentations will be live-streamed on Grindr's investor relations website, with archived replays available after the events. These conferences provide Grindr with opportunities to engage with investors and showcase its business strategies and performance.
Grindr Inc. (NYSE: GRND) reported strong financial results for Q2 2024, with revenue growing 34% to $82 million. The company achieved an operating income of $25 million and an Adjusted EBITDA margin of 45%. Despite a net loss margin of 27%, Grindr raised its full-year 2024 guidance, projecting revenue growth of 27% or higher and an Adjusted EBITDA margin of 42%+.
CEO George Arison attributed the success to continued global user growth and enhanced product offerings. The company aims to further improve user experience and drive performance while progressing towards its vision of building the 'Global Gayborhood in Your Pocket™'.
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