Welcome to our dedicated page for Spark Networks SE news (Ticker: LOV), a resource for investors and traders seeking the latest updates and insights on Spark Networks SE stock.
Spark Networks SE (NYSE American: LOV) is a pioneering global dating company serving singles seeking meaningful relationships through a diversified portfolio of premium and freemium brands. Formed in 2017 from the merger of Affinitas GmbH and Spark Networks, Inc., Spark Networks SE operates in 29 countries, attracting over 9 million new users annually. Key brands include EliteSingles, Jdate, Christian Mingle, eDarling, JSwipe, Attractive World, and SilverSingles. The company's mission is to become the leading global dating company, driven by innovation and a commitment to serious connections.
Headquartered in Berlin, Germany, Spark Networks SE employs 300 people representing 52 nationalities. They leverage this diverse talent pool to foster a dynamic and inclusive work environment. The company is currently undergoing a significant transformation plan aimed at improving growth, margins, EBITDA, and cash flow. A new phase involves collaborating with a leading performance marketing agency to create an integrated marketing strategy that boosts brand growth. Additionally, a shift to third-party managed service providers is expected to reduce operational costs and enhance long-term efficiency.
Recent corporate developments underscore Spark Networks' strategic direction. As of July 2023, Colleen Birdnow Brown has taken on the role of interim CEO, bringing extensive experience in media, technology, and strategic leadership. Former CEO Chelsea Grayson successfully led the company through the initial phase of its transformation, which included identifying a top performance marketing partner and implementing a new enterprise resource planning system to optimize financial management.
Financially, the company has shown considerable resilience and adaptability. Despite reducing marketing expenditures by 43% in Q2 2023 compared to the same period in 2022, Spark Networks increased its Adjusted EBITDA by $8.9 million year-over-year. The next steps include outsourcing significant portions of its technology and operations to improve both cost-efficiency and product quality, with completion anticipated by Q1 2024.
The company recently announced that its American Depositary Shares would begin trading on the OTCQX Best Market under the ticker symbol LOVLY starting September 8, 2023, moving away from NASDAQ. This shift aligns with their strategic focus on maintaining high financial standards and robust corporate governance while enhancing investor engagement.
Spark Networks SE continues to innovate and adapt, setting the stage for sustainable growth and operational excellence. For more details on investor relations and recent updates, visit Spark Networks Investor Relations.
Spark Networks SE (NASDAQ: LOV) has announced the rescheduling of its fourth-quarter and full-year 2022 financial results to the week of March 27, 2023. The exact date for the earnings release and conference call will be communicated in a separate press release prior to the announcement. Spark Networks focuses on creating meaningful relationships for the 40+ demographic through its range of premium and freemium dating apps, which include Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, eDarling, and JSwipe, among others.
Spark Networks SE (NASDAQ: LOV) will release its 2022 fourth quarter and full-year financial results on March 14, 2023, prior to market opening. The company focuses on social dating for the 40+ demographic and faith-based affiliations, operating several popular dating apps including Zoosk, EliteSingles, and Christian Mingle. A conference call for analysts and investors will take place on March 14, 2023, at 8:30 a.m. ET. Participants can join via phone or through a live webcast accessible on the company's Investor Relations page.
On January 17, 2023, Spark Networks SE (NASDAQ: LOV) announced a conference call to introduce their new Interim CEO, Chelsea A. Grayson. The call is scheduled for January 19, 2023, at 4:30 pm ET. Grayson, the first woman to hold the CEO position at Spark Networks, has extensive leadership experience, including previous roles at True Religion and American Apparel. Investors can join the call by dialing 1-888-349-0106 (US) or +1 412-902-0131 (International). A live and archived webcast will be available on the company's investor relations website, along with a replay of the call.
Spark Networks SE (NASDAQ: LOV) has appointed Chelsea A. Grayson as interim CEO following the departure of Eric Eichmann. Effective December 1, 2022, Grayson aims to enhance the company's value through better capital utilization and operational improvements. Grayson, the first female CEO at Spark, brings extensive experience from previous roles in the fashion industry and as a lawyer. Eichmann is stepping down to focus on family and future opportunities, with the board expressing gratitude for his leadership during challenging times.
Spark Networks SE (NASDAQ: LOV) reported Q3 2022 results, showing a 5.1% year-over-year growth in initial subscribers and a 3.4% increase in average subscribers for Zoosk. Revenue decreased to $48.2 million from $53.3 million in Q3 2021, with a net loss of $10.7 million attributed to an $11.8 million impairment charge. Adjusted EBITDA rose 66% to $8.3 million, achieving a 17% margin. The company anticipates a low double-digit revenue decline for the year, mainly due to foreign exchange impacts.
Spark Networks SE (NASDAQ: LOV) is set to release its 2022 third quarter financial results on November 8, 2022, after market close. The announcement follows the company's focus on providing a platform for meaningful relationships, particularly for the 40+ demographic and faith-based individuals. A conference call for analysts and investors will be held on the same day at 5:00 PM ET to discuss the results. Investors can access the call live or via a webcast on the company's website.
On September 6, 2022, Spark Networks SE (NASDAQ: LOV) announced the election of Michael McConnell and Ulrike Handel to its Administrative Board during the 2022 Annual Meeting of Shareholders. Colleen Birdnow Brown, Chair of the Board, expressed confidence that McConnell and Handel will contribute significantly to the company's strategic plan aimed at enhancing revenue growth and shareholder value. McConnell has extensive experience in managing publicly traded companies, while Handel has a strong background in media and marketing leadership.
Spark Networks (NASDAQ: LOV) reported a total revenue of $48.0 million for Q2 2022, down from $55.3 million in Q2 2021. Despite this, paid subscribers increased from 831,000 to 838,000 sequentially. Zoosk, the largest brand under Spark, experienced significant growth with new subscribers rising 17% year-over-year and 7% sequentially, alongside a 19% uptick in organic traffic. The company is actively reviewing strategic alternatives while revising its full-year revenue guidance to reflect a potential decline by low to mid-single digits due to U.S. dollar appreciation.
Spark Networks SE (NASDAQ: LOV) announced it will release its financial results for Q2 2022 on August 9, 2022, prior to market opening. A conference call for analysts and investors will be held on the same day at 8:30 a.m. ET to discuss the results. Spark Networks is focused on creating meaningful relationships, particularly for those aged 40 and above, through a range of dating apps including Zoosk, EliteSingles, and Christian Mingle.
Spark Networks SE (NASDAQ: LOV) announced the nomination of Michael McConnell and Ulrike Handel to its Administrative Board, pending a shareholder vote on August 31, 2022. McConnell brings a wealth of experience from his tenure at Shamrock Capital Advisors and has previously served as CEO for multiple public companies. Handel has a solid background in leadership roles, including CEO at Dentsu International. The nominations aim to enhance shareholder value through strategic insights and leadership expertise.
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