Grindr Inc (GRND)

[Monksdream]

Grindr Inc. Reports Fiscal Year 2023 Revenue Growth of 33%
March 07 2024 - 04:05PM
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Grindr Inc. Reports 2023 Q4 and Full Year 2023 Earnings Results

2023 Full Year Revenue was $260 Million, Operating Income was $55 Million, Net Loss Margin of 21% and Adjusted EBITDA Margin of 42%

121 Billion Chats Sent in 2023, with Revenue from Paying Users up 38%

Guidance of 23% or Greater Revenue Growth and 40%+ Adjusted EBITDA Margin in 2024

Grindr Inc. (NYSE: GRND), the world’s largest social network and dating app for the LGBTQ community, today posted its financial results for the fourth quarter and fiscal year ended December 31, 2023 in a Letter to Shareholders. The Letter to Shareholders can be accessed on Grindr’s Investor Relations website.

“The Grindr team delivered an outstanding first full year as a public company. Our results came in well ahead of our financial guidance; we generated solid growth in paying users supported by the launch of Weeklies, our popular weekly subscription product; and we drove best-in-class user engagement through our improved user experience, highlighted by over 121 billion chats sent on the platform in 2023 and roughly an hour spent on Grindr per day, per user,” said George Arison, Chief Executive Officer of Grindr. “We’ve entered 2024 with strong momentum and we’re excited about the year ahead, with a robust product roadmap and a growing team. We look forward to sharing more about our plans at our first-ever Investor Day event in June.”