Earnings Results: Bumble stock rockets higher after online-dating company upbeat on user growth
Shares of Bumble Inc. were up more than 16% in after-hours trading Tuesday after the online-dating company posted upbeat user-growth numbers.
The Bumble app had 1.64 million paying users in the fourth quarter, up from 1.27 million a year prior. The FactSet consensus was for 1.59 million paying Bumble app users.
had 2.98 million users across its properties, while the FactSet consensus was for 2.93 million.
The company generated a fourth-quarter net loss of $14.7 million, or 8 cents a share, compared with a loss of $26.1 million, or 1 cent a share, in the year-prior quarter. Analysts tracked by FactSet were anticipating a 2-cent loss per share on a GAAP basis.
Bumble also posted adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $54.8 million, up from $44.1 million a year earlier, whereas the FactSet consensus was for $53.5 million.
Revenue for the quarter increased to $208.2 million from $165.6 million a year ago, while analysts tracked by FactSet had been looking for $209.6 million. The company said that its revenue total for the latest quarter included $150.5 million from the Bumble app and $57.7 million from the Badoo app and other sources.
Bumble disclosed that it plans to discontinue its operations in Russia and yank its apps from Apple Inc.’s
App Store and Alphabet Inc.’s
Google Play Store in both Russia and Belarus. Total revenue from Russia, Ukraine, and Belarus was about 2.8% of the company total in 2021, mainly from Badoo and other sources. The three countries accounted for less than 0.1% of Bumble app revenue.
For the first quarter, the company anticipates $207 million to $210 in total revenue, as well as $47 million to $49 million in adjusted Ebitda. The FactSet consensus was for $211.5 million in revenue and $53.7 million in adjusted Ebitda.
Looking at the full year, Bumble expects revenue of $934 million to $944 million, and an adjusted Ebitda margin of 26.5% to 27%. Analysts tracked by FactSet were projecting $939.1 million in revenue and an adjusted Ebitda margin of 26.6%.