Spark Networks Provides Financial Guidance for Full Year 2021
Spark Networks SE (NYSE: LOV) announced its financial guidance for the fiscal year 2021, projecting total revenue between $238 million and $244 million, with an anticipated Adjusted EBITDA of $33 million to $36 million. CEO Eric Eichmann expressed optimism about planned product improvements and brand investments, highlighting the company's accomplishments in 2020 as a foundation for expected revenue growth in 2021. Spark, based in Berlin, operates popular dating platforms like Zoosk and EliteSingles, boasting approximately one million monthly paying subscribers globally.
- Projected revenue for 2021 is between $238 million and $244 million.
- Expected Adjusted EBITDA for 2021 is $33 million to $36 million.
- Planned product improvements and brand investments indicate future growth.
- Spark Networks has about one million monthly paying subscribers.
- Competition in the dating app market remains a concern.
- Risks associated with maintaining subscriber numbers to sustain revenue.
- Potential cybersecurity incidents could impact operations.
- Challenges in attracting and retaining users through cost-effective marketing.
BERLIN, March 8, 2021 /PRNewswire/ -- Spark Networks SE (NYSE: LOV), one of the world's leading online dating companies, announced today financial guidance for the current fiscal year.
The Company anticipates total revenue for the 2021 fiscal year to be in the range of
"I'm excited about our planned product improvements and brand investments in 2021," said Eric Eichmann, Chief Executive Officer. "These, along with Spark's many 2020 accomplishments should lead to revenue growth in 2021.
About Spark Networks SE:
Spark Networks SE is America's second largest dating company, listed on the New York Stock Exchange American under the ticker symbol "LOV," with headquarters in Berlin, Germany, and offices in New York and Utah. The Company's widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, Christian Mingle, Jdate, JSwipe, SilverSingles and eDarling, among others. Spark Networks SE in its current form is the result of the merger between Affinitas GmbH and Spark Networks, Inc. in 2017 and the addition of Zoosk, Inc. in 2019. Spark Networks has approximately one million monthly paying subscribers globally.
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks' performance or achievements to be materially different from those of any expected future results, performance, or achievements. These statements contain statements regarding Spark Networks' projected financial performance, total revenue, EBITDA and growth. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, risks related to establishing and maintaining brand strength; attracting new members, converting members into paying subscribers and retaining existing subscribers; the risk that the benefits from the acquisition of Zoosk, Inc. may not be fully realized or may take longer to realize than expected; risks related to the degree of competition in the markets in which Spark Networks operates; maintaining Spark Networks' current number of paying subscribers to maintain or increase its current level of revenue; failure to keep pace with rapid technological change; risks associated with intellectual property rights including protection and infringement claims; ability to attract and retain users through cost-effective marketing; being subject to cybersecurity incidents in the past and potential for future attacks; Spark Networks' ability to comply with new and evolving regulations relating to data protection and data privacy; and general competition and price measures in the market place. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" in Spark Networks' Annual Report on Form 20-F for the year ended December 31, 2019 and in other sections of Spark Networks' filings with the Securities and Exchange Commission ("SEC"), and in Spark Networks' other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to Spark Networks as of the date hereof, and Spark Networks assumes no obligation to update any forward-looking statement except as required by law.
Contact:
Christopher Camarra
Vice President of Investor Relations
christopher.camarra@spark.net
View original content to download multimedia:http://www.prnewswire.com/news-releases/spark-networks-provides-financial-guidance-for-full-year-2021-301241621.html
SOURCE Spark Networks SE
FAQ
What is Spark Networks' revenue guidance for 2021?
What is the projected Adjusted EBITDA for Spark Networks in 2021?
How many monthly paying subscribers does Spark Networks have?
What improvements does Spark Networks plan for 2021?
What are the risks associated with Spark Networks' growth?
