Bumble Inc (BMBL)

Bumble Inc. Announces First Quarter 2026 ResultsMay 5, 2026 4:05 PM
Business Wire Total Revenue Decreased 14% to $212 Million Net Earnings Increased 165% to $53 Million Adjusted EBITDA Increased 28% to $83 Million Bumble Inc. (NASDAQ: BMBL) today reported financial results for the first quarter ended March 31, 2026. “Our deliberate steps to reset the Bumble member base have meaningfully improved the health of our ecosystem,” said Whitney Wolfe Herd, Founder & CEO of Bumble Inc. "We’re now focused on activating this higher-quality member base by launching a fully reimagined Bumble experience on our rebuilt, AI-enabled platform later this year. This next chapter will deliver a more intuitive, personalized way to connect and help members move more confidently and quickly to in-person dates.” First Quarter 2026 Financial and Operational Highlights:
(all comparisons relative to the First Quarter 2025) Total Revenue decreased 14.1% to $212.4 million, compared to $247.1 million. Bumble App Revenue decreased 14.4% to $172.7 million, compared to $201.8 million. Badoo App and Other Revenue decreased 12.4% to $39.7 million, compared to $45.3 million. Total Paying Users decreased 21.1% to 3.2 million, compared to 4.0 million. Total Average Revenue per Paying User ("ARPPU") increased 8.9% to $22.04, compared to $20.24. Net earnings increased 165.4% to $52.6 million, or 24.8% of revenue, from net earnings of $19.8 million, or 8.0% of revenue. Adjusted EBITDA increased 28.3% to $82.6 million, or 38.9% of revenue, from $64.4 million, or 26.1% of revenue. Information about Bumble's use of non-GAAP financial measures is provided below under “Non-GAAP Financial Measures.” “We maintained strong operating discipline in Q1, delivering results in line with our expectations and generating strong cash flow,” said Kevin Cook, CFO of Bumble Inc. “The company’s performance and outlook reflect a more efficient cost structure with continued investment in product and platform capabilities designed to support sustainable growth.” Key Operating Metrics: The following metrics were calculated excluding paying users of and revenue generated from Official, advertising and partnerships or affiliates. The Bumble For Friends app was relaunched as BFF in the United States in September 2025. The Company has not sought to generate revenue from the BFF app and therefore it is excluded from our key operating metrics as of March 31, 2026. Please refer to the Definitions section for more information. (In thousands, except ARPPU)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Bumble App Paying Users     2,082.0     2,708.4 Badoo App and Other Paying Users     1,084.3     1,306.3 Total Paying Users     3,166.3     4,014.7 Bumble App Average Revenue per Paying User   $ 27.65   $ 24.84 Badoo App and Other Average Revenue per Paying User   $ 11.26   $ 10.72 Total Average Revenue per Paying User   $ 22.04   $ 20.24 Balance Sheet: As of March 31, 2026, total cash and cash equivalents were $245.6 million and total debt was $587.5 million. On April 24, 2026, the Company entered into a new $475.0 million senior secured term loan, the proceeds of which, together with cash on hand, were used to repay in full and terminate its prior term loans. In addition, the Company entered into a new $50.0 million senior secured revolving credit facility, which replaced its previous revolving credit facility. The new facilities extended the Company’s debt maturities to 2030. Financial Outlook: A reconciliation of Adjusted EBITDA to GAAP net earnings (loss) and Adjusted EBITDA margin growth to GAAP net earnings (loss) margin growth, which is growth in GAAP net earnings (loss) as a percentage of revenue, has not been provided for the outlook included herein, as the quantification of certain items included in the calculation of GAAP net earnings (loss) cannot be calculated or predicted at this time without unreasonable efforts. For example, the non-GAAP adjustment for stock-based compensation expense requires additional inputs such as number of shares granted and market price that are not currently ascertainable, and the non-GAAP adjustment for certain legal, tax and regulatory reserves and expenses depends on the timing and magnitude of these expenses and cannot be accurately forecasted. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results. Bumble anticipates the following results for the second quarter ending June 30, 2026: Second Quarter 2026: Total Revenue in the range of $205 million to $213 million, which includes: Bumble App Revenue of $168 million to $174 million. Adjusted EBITDA of $65 million to $70 million. Actual results may differ materially from Bumble’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. Conference Call and Webcast Information Bumble will host a live webcast of its conference call to discuss its first quarter 2026 financial results at 4:30 p.m. Eastern Time today, May 5, 2026. A webcast of the call and other information related to the call will be accessible on the Investors section of the Company’s website at https://ir.bumble.com. A webcast replay will be available approximately two hours after the conclusion of the live event. Definitions As used in this press release, unless otherwise noted or the context requires otherwise, the following terms have the following meanings. Our key metrics (Bumble App Paying Users, Badoo App and Other Paying Users, Total Paying Users, Bumble App Average Revenue per Paying User, Badoo App and Other Average Revenue per Paying User, and Total Average Revenue per Paying User) were calculated excluding paying users of and revenue generated from Official, advertising and partnerships or affiliates. The Bumble For Friends app was relaunched as BFF in the United States in September 2025. The Company has not sought to generate revenue from the BFF app and therefore it is excluded from our key operating metrics as of March 31, 2026. Total Revenue is the sum of Bumble App Revenue and Badoo App and Other Revenue. Total Paying Users is the sum of Bumble App Paying Users and Badoo App and Other Paying Users. Total Average Revenue per Paying User or Total ARPPU is a metric calculated based on Total Revenue in any measurement period divided by the Total Paying Users in such period divided by the number of months in the period. Bumble App Revenue is revenue derived from purchases or renewals of a Bumble app or Bumble For Friends app subscription plan and/or in-app purchases on Bumble app or Bumble For Friends app in the relevant period. Bumble App Paying User is a member that has purchased or renewed a Bumble app or Bumble For Friends app subscription plan and/or made an in-app purchase on Bumble app or Bumble For Friends app in a given month. We calculate Bumble App Paying Users as a monthly average, by counting the number of Bumble App Paying Users in each month and then dividing by the number of months in the relevant measurement period. Bumble App Average Revenue per Paying User or Bumble App ARPPU is a metric calculated based on Bumble App Revenue in any measurement period, divided by Bumble App Paying Users in such period divided by the number of months in the period. Badoo App and Other Revenue is revenue derived from purchases or renewals of a Badoo app subscription plan and/or in-app purchases on Badoo app in the relevant period, purchases on one of our other apps that we owned and operated in the relevant period, purchases on other third-party apps that used our technology in the relevant period and advertising, partnerships or affiliates revenue in the relevant period. Badoo App and Other Paying User is a member that has purchased or renewed a subscription plan and/or made an in-app purchase on Badoo app in a given month or made a purchase on one of our other apps that we owned and operated in a given month, or made a purchase on other third-party apps that used our technology in the relevant period. We calculate Badoo App and Other Paying Users as a monthly average, by counting the number of Badoo App and Other Paying Users in each month and then dividing by the number of months in the relevant measurement period. Badoo App and Other Average Revenue per Paying User or Badoo App and Other ARPPU is a metric calculated based on Badoo App and Other Revenue in any measurement period divided by Badoo App and Other Paying Users in such period divided by the number of months in the period. Non-GAAP Financial Measures We report our financial results in accordance with GAAP, however, management believes that certain non-GAAP financial measures provide users of our financial information with useful supplemental information that enables a better comparison of our performance across periods. We believe Adjusted EBITDA provides visibility to the underlying continuing operating performance by excluding the impact of certain expenses, including income tax (benefit) provision, interest and derivative (gains) losses, net, depreciation and amortization expense, stock-based compensation expenses, employer costs related to stock-based compensation, foreign exchange (gain) loss, changes in fair value of contingent earn-out liability, changes in fair value of investments in equity securities, transaction and other costs, litigation costs net of insurance reimbursements that arise outside of the ordinary course of business, tax receivable agreement liability remeasurement (benefit) expense, impairment loss, and costs associated with restructuring, as management does not believe these expenses are representative of our core earnings. We also provide Adjusted EBITDA margin, which is calculated as Adjusted EBITDA divided by revenue. In addition to Adjusted EBITDA and Adjusted EBITDA margin, we believe free cash flow and free cash flow conversion provide useful information regarding how cash provided by (used in) operating activities compares to the capital expenditures required to maintain and grow our business, and our available liquidity, after funding such capital expenditures, to service our debt, fund strategic initiatives, effectuate discretionary share repurchases and strengthen our balance sheet, as well as our ability to convert our earnings to cash. Additionally, we believe such metrics are widely used by investors, securities analysts, ratings agencies and other parties in evaluating liquidity and debt-service capabilities. We calculate free cash flow and free cash flow conversion using methodologies that we believe can provide useful supplemental information to help investors better understand underlying trends in our business. Our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies, have limitations as analytical tools and should not be considered in isolation, or as substitutes for analysis of our operating results as reported under GAAP. Additionally, we do not consider our non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is defined as net earnings (loss) excluding income tax (benefit) provision, interest and derivative (gains) losses, net, depreciation and amortization expense, stock-based compensation expense, employer costs related to stock-based compensation, foreign exchange (gain) loss, changes in fair value of contingent earn-out liability, changes in fair value of investments in equity securities, transaction and other costs, litigation costs net of insurance reimbursements that arise outside of the ordinary course of business, tax receivable agreement liability remeasurement (benefit) expense, impairment loss, and restructuring costs. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue. Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures. Free cash flow conversion represents free cash flow as a percentage of Adjusted EBITDA. Operating cash flow conversion represents net cash provided by (used in) operating activities as a percentage of net earnings (loss). Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements reflecting the current views of management of Bumble Inc. with respect to, among other things, our operations, our financial performance, our industry and our business and other non-historical statements, including without limitation statements related to our product innovation, investment in platform capabilities and member experience enhancement plans, statements regarding our ability to achieve product-led, long-term growth, our ability to maintain financial discipline and the statements in the “Financial Outlook” section of this press release. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe(s),” “expect(s),” “potential,” “continue(s),” “may,” “will,” “should,” “could,” “would,” “seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),” “anticipate(s),” “projection,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include, but are not limited to, the following: our ability to retain existing members or attract new members and to convert members to paying users (including as a result of shifts in strategy) competition and changes in the competitive landscape of our market our ability to distribute our dating products through third parties, such as Apple App Store or Google Play Store, and offset related fees our ability to attract, hire and retain a highly qualified and diverse workforce, or maintain our corporate culture, including as such factors may be impacted by our global workforce reductions and efforts to restructure our operations our ability to maintain the value and reputation of our brands risks relating to changes to our existing brands and products, or the introduction or acquisition of new brands or products risks relating to certain of our international operations, including geopolitical conditions and successful expansion into new markets the impact of data security breaches or cyber attacks on our systems and the costs of remediation related to any such incidents challenges with properly managing the use of artificial intelligence our ability to obtain, maintain, protect and enforce intellectual property rights and successfully defend against claims of infringement, misappropriation or other violations of third-party intellectual property our ability to comply with complex and evolving U.S. and international laws and regulations relating to our business, including data privacy laws our substantial indebtedness affiliates of Blackstone Inc.’s (“Blackstone”) and our Founder’s control of us the outsized voting rights of Blackstone and our Founder the risk that our restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated risks relating to the market price volatility of our Class A common stock, which could limit our ability to make acquisitions and retain key personnel and employees, and result in dilution if our stock-based compensation programs issue increased numbers of shares because of a depressed stock price or could result in increased cash compensation expense in the event that we shift the mix of incentive compensation in favor of cash-based awards over equity-based awards changes in business or macroeconomic conditions, including the impact of lower consumer confidence in our business or in the online dating industry generally, recessionary conditions, increased unemployment rates, stagnant or declining wages, changes in inflation or interest rates, geopolitical events (such as trade wars), political unrest, armed conflicts, including conflicts in Eastern Europe and the Middle East, widespread health emergencies or pandemics and measures taken in response, extreme weather events or natural disasters foreign currency exchange rate fluctuations For additional information on these and other factors that could cause Bumble’s actual results to differ materially from expected results, please see our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission (the “SEC”) on March 16, 2026, as such factors may be updated from time to time in our subsequent periodic filings, which are accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. About Bumble Bumble Inc. is the parent company of Bumble, Badoo and BFF. Bumble brings people closer to love by enabling them to build healthy relationships. Founded in 2014 by Whitney Wolfe Herd, who serves as CEO, Bumble was one of the first dating apps built with women at the center and connects people across dating (Bumble Date) and friendship (Bumble For Friends). Badoo, founded in 2006, was one of the pioneers of web and mobile dating products. BFF is a friendship app for friend-finding, group connections and community-building. Bumble Inc. Condensed Consolidated Balance Sheets (In thousands, except share and per share information) (Unaudited)       March 31, 2026   December 31, 2025 ASSETS         Cash and cash equivalents   $ 245,589     $ 175,760   Accounts receivable (net of allowance of $64 and $86, respectively)     66,199       83,062   Other current assets     45,196       46,449   Total current assets     356,984       305,271   Right-of-use assets     9,193       10,198   Property and equipment (net of accumulated depreciation of $23,889 and $22,706, respectively)     5,790       6,896   Goodwill     732,715       732,715   Intangible assets, net     351,883       351,454   Deferred tax assets, net     9,943       11,429   Other noncurrent assets     6,397       7,115   Total assets   $ 1,472,905     $ 1,425,078   LIABILITIES AND SHAREHOLDERS’ EQUITY         Accounts payable   $ 1,901     $ 9,231   Deferred revenue     35,454       36,790   Accrued expenses and other current liabilities     97,463       86,226   Current portion of long-term debt, net     158,656       5,750   Total current liabilities     293,474       137,997   Long-term debt, net     428,834       582,715   Deferred tax liabilities, net     2,321       318   Other long-term liabilities     13,031       22,939   Total liabilities     737,660       743,969   Commitments and contingencies         Shareholders’ equity:         Class A common stock (par value $0.01 per share, 6,000,000,000 shares authorized; 130,389,737 shares issued and outstanding as of March 31, 2026; 129,613,455 shares issued and outstanding as of December 31, 2025)     1,305       1,297   Class B common stock (par value $0.01 per share, 1,000,000 shares authorized; 17 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively)     —       —   Preferred stock (par value $0.01; authorized 600,000,000 shares; no shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively)     —       —   Additional paid-in capital     1,812,051       1,803,905   Accumulated deficit     (1,349,019 )     (1,394,230 ) Accumulated other comprehensive income     152,760       159,021   Total Bumble Inc. shareholders’ equity     617,097       569,993   Noncontrolling interests     118,148       111,116   Total shareholders’ equity     735,245       681,109   Total liabilities and shareholders’ equity   $ 1,472,905     $ 1,425,078   Bumble Inc. Condensed Consolidated Statements of Operations (In thousands, except per share information) (Unaudited)       Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Revenue   $ 212,383     $ 247,101   Operating costs and expenses:         Cost of revenue     54,824       73,353   Selling and marketing expense     26,960       59,734   General and administrative expense     30,762       21,644   Product development expense     30,171       34,504   Depreciation and amortization expense     4,412       9,585   Impairment loss     —       3,631   Total operating costs and expenses     147,129       202,451   Operating earnings     65,254       44,650   Interest expense, net     (7,959 )     (12,049 ) Other income (expense), net     6,741       (6,762 ) Income before income taxes     64,036       25,839   Income tax provision     (11,414 )     (6,008 ) Net earnings     52,622       19,831   Net earnings attributable to noncontrolling interests     7,411       6,387   Net earnings attributable to Bumble Inc. shareholders   $ 45,211     $ 13,444   Net earnings per share attributable to Bumble Inc. shareholders         Basic earnings per share   $ 0.35     $ 0.13   Diluted earnings per share   $ 0.34     $ 0.13   Bumble Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited)       Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Cash flows from operating activities:         Net earnings   $ 52,622     $ 19,831   Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:         Impairment loss     —       3,631   Depreciation and amortization expense     4,412       9,585   Changes in fair value of interest rate swaps     (675 )     2,636   Changes in fair value of contingent earn-out liability     (36 )     (2,282 ) Non-cash lease expense     956       790   Tax receivable agreement liability remeasurement expense     —       857   Deferred income tax     3,333       1,327   Stock-based compensation expense     10,818       4,138   Net foreign exchange difference     (8,463 )     10,860   Other, net     444       1,058   Changes in assets and liabilities:         Accounts receivable     18,292       (720 ) Other current assets     3,708       1,559   Accounts payable     (7,485 )     (1,977 ) Deferred revenue     (1,336 )     (1,729 ) Lease liabilities     (1,092 )     (888 ) Accrued expenses and other current liabilities     9,289       (5,475 ) Other, net     (7,562 )     44   Net cash provided by operating activities     77,225       43,245   Cash flows from investing activities:         Capital expenditures     (3,398 )     (2,411 ) Net cash used in investing activities     (3,398 )     (2,411 ) Cash flows from financing activities:         Repayment of term loan     (1,438 )     (1,438 ) Distributions paid to noncontrolling interest holders     (2 )     (7 ) Share repurchases     —       (28,682 ) Withholding tax paid on behalf of employees on stock-based awards     (2,140 )     (3,422 ) Payments on tax receivable agreement     —       (8,917 ) Net cash used in financing activities     (3,580 )     (42,466 ) Effects of exchange rate changes on cash and cash equivalents     (602 )     328   Net increase (decrease) in cash and cash equivalents and restricted cash     69,645       (1,304 ) Cash and cash equivalents and restricted cash, beginning of the period     179,254       207,062   Cash and cash equivalents and restricted cash, end of the period     248,899       205,758   Less restricted cash     (3,310 )     (3,515 ) Cash and cash equivalents, end of the period   $ 245,589     $ 202,243   Bumble Inc. Reconciliation of GAAP to NON-GAAP Financial Measures (Unaudited)   Reconciliation of Net Earnings (Loss) to Adjusted EBITDA and Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow   (In thousands, except percentages)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Net earnings   $ 52,622     $ 19,831   Add back:         Income tax provision     11,414       6,008   Interest and derivative (gains) losses, net(1)     7,959       12,049   Depreciation and amortization expense     4,412       9,585   Stock-based compensation expense     10,818       4,138   Employer costs related to stock-based compensation(2)     313       705   Litigation costs, net of insurance reimbursements(3)     4       1,287   Foreign exchange (gain) loss(4)     (6,702 )     6,017   Restructuring costs(5)     1,636       1,210   Transaction and other costs(6)     199       1,313   Changes in fair value of contingent earn-out liability     (36 )     (2,282 ) Changes in fair value of investments in equity securities     (39 )     51   Tax receivable agreement liability remeasurement expense(7)     —       857   Impairment loss(8)     —       3,631   Adjusted EBITDA   $ 82,600     $ 64,400   Net earnings margin     24.8 %     8.0 % Adjusted EBITDA margin     38.9 %     26.1 %           Net cash provided by operating activities   $ 77,225     $ 43,245   Less:         Capital expenditures     (3,398 )     (2,411 ) Free cash flow   $ 73,827     $ 40,834   Operating cash flow conversion     146.8 %     218.1 % Free cash flow conversion     89.4 %     63.4 % (1)   Includes interest income received on money market funds and interest rate swaps, fair value changes in interest rate swaps, and interest expense incurred in connection with our long-term debt. (2)   Represents employer portion of Social Security and Medicare payroll taxes domestically, National Insurance contributions in the United Kingdom and comparable costs internationally related to the settlement of equity awards. (3)   Represents certain litigation costs, net of insurance proceeds, associated with pending litigations or settlements of litigation that arise outside of the ordinary course of business. (4)   Represents foreign exchange (gain) loss due to foreign currency transactions. (5)   Represents costs associated with discontinuing the operations of the Fruitz and Official apps and the 2025 Restructuring Plan, such as severance, benefits and other related costs. (6)   Represents transaction and other costs primarily related to acquisitions and divestiture of business. (7)   Represents recognized adjustments to the tax receivable agreement liability prior to its amendment in November 2025. (8)   Represents impairment charges to the Official asset group in the first quarter of 2025. Supplementary Information (Unaudited)   Stock-Based Compensation Expense   (In thousands)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Cost of revenue   $ 50   $ 154   Selling and marketing expense     889     (839 ) General and administrative expense     6,218     (3,894 ) Product development expense     3,661     8,717   Total stock-based compensation expense   $ 10,818   $ 4,138   Reconciliation of GAAP costs and expenses to non-GAAP costs and expenses by function   (In thousands)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Cost of revenue GAAP   $ 54,824     $ 73,353   Stock-based compensation expense     (50 )     (154 ) Employer costs related to stock-based compensation     (4 )     (25 ) Restructuring costs     (369 )     (36 ) Transaction and other costs     —       (85 ) Cost of revenue non-GAAP   $ 54,401     $ 73,053   (In thousands)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Selling and marketing expense GAAP   $ 26,960     $ 59,734   Stock-based compensation expense     (889 )     839   Employer costs related to stock-based compensation     (23 )     (39 ) Restructuring costs     (42 )     (195 ) Selling and marketing expense non-GAAP   $ 26,006     $ 60,339   (In thousands)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 General and administrative expense GAAP   $ 30,762     $ 21,644   Changes in fair value of contingent earn-out liability     36       2,282   Litigation costs, net of insurance proceeds     (4 )     (1,287 ) Stock-based compensation expense     (6,218 )     3,894   Employer costs related to stock-based compensation     (111 )     (219 ) Restructuring costs     (178 )     (75 ) Transaction and other costs     (1 )     (408 ) General and administrative expense non-GAAP   $ 24,286     $ 25,831   (In thousands)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Product development expense GAAP   $ 30,171     $ 34,504   Stock-based compensation expense     (3,661 )     (8,717 ) Employer costs related to stock-based compensation     (175 )     (422 ) Restructuring costs     (1,047 )     (904 ) Transaction and other costs     (198 )     (820 ) Product development expense non-GAAP   $ 25,090     $ 23,641   (In thousands)   Three Months Ended March 31, 2026   Three Months Ended March 31, 2025 Total operating costs and expenses GAAP   $ 147,129     $ 202,451   Impairment loss     —       (3,631 ) Depreciation and amortization expense     (4,412 )     (9,585 ) Changes in fair value of contingent earn-out liability     36       2,282   Litigation costs, net of insurance proceeds     (4 )     (1,287 ) Stock-based compensation expense     (10,818 )     (4,138 ) Employer costs related to stock-based compensation     (313 )     (705 ) Restructuring costs     (1,636 )     (1,210 ) Transaction and other costs     (199 )     (1,313 ) Total operating costs and expenses non-GAAP   $ 129,783     $ 182,864     View source version on businesswire.com: https://www.businesswire.com/news/home/20260505978064/en/ Investor Contact
ir@team.bumble.com Media Contact
press@team.bumble.com Original: Bumble Inc. Announces First Quarter 2026 Results

$BMBL ⚠️
Bumble’s user trends and revenue growth have been inconsistent, and the brand isn’t commanding the same momentum it once did. In a crowded dating-app market, softness shows up fast in the chart.

BMBL.............................https://stockcharts.com/sc3/ui/?s=BMBL&p=W&b=5&g=0&id=p86431144783

Bumble Inc. Announces Fourth Quarter and Full Year 2025 ResultsMarch 11, 2026 4:05 PM
Business Wire
Total Revenue in 2025 Decreased 10% to $966 Million


Full-year Net Cash Provided by Operating Activities was $250 Million


Bumble Inc. (NASDAQ: BMBL) today reported financial results for the fourth quarter and full year ended December 31, 2025.


“In 2025, we made the deliberate choice to return Bumble to its women-first foundation, raising the bar on trust and authenticity while addressing pain points our members experience with online dating,” said Whitney Wolfe Herd, Founder & CEO of Bumble Inc. “We believe that when women feel safe, confident, and intentional about who they meet, the entire ecosystem works better. With the heavy lift of our quality reset behind us, we are accelerating product innovation and prioritizing member experience enhancements. We are building from a stronger base and positioning Bumble for its next chapter of product-led growth.”


Fourth Quarter 2025 Financial and Operational Highlights:


(all comparisons relative to the Fourth Quarter 2024)



Total Revenue decreased 14.3% to $224.2 million, compared to $261.6 million.


Bumble App Revenue decreased 14.8% to $181.0 million, compared to $212.4 million.



Badoo App and Other Revenue decreased 12.4% to $43.2 million, compared to $49.3 million.






Total Paying Users decreased 20.5% to 3.3 million, compared to 4.2 million.



Total Average Revenue per Paying User ("ARPPU") increased 7.9% to $22.20, compared to $20.58.



Net loss was $611.1 million, or (272.6)% of revenue, which included $630.5 million of non-cash impairment charges, compared to net earnings of $9.3 million, or 3.6% of revenue.



Adjusted EBITDA was $71.6 million, or 31.9% of revenue, compared to $72.5 million, or 27.7% of revenue.



Net cash provided by (used in) operating activities was $59.1 million, compared to $(5.4) million.



Full Year 2025 Operational and Financial Highlights:


(all comparisons relative to the Full Year 2024)



Total Revenue decreased 9.9% to $965.7 million, compared to $1,071.6 million.


Bumble App Revenue decreased 9.6% to $783.0 million, compared to $866.3 million.



Badoo App and Other Revenue decreased 11.1% to $182.6 million, compared to $205.4 million.






Total Paying Users decreased 11.5% to 3.7 million, compared to 4.1 million.



Total ARPPU increased 1.9% to $21.64, compared to $21.23.



Net loss was $906.6 million, or (93.9)% of revenue, which included $1,039.0 million of non-cash impairment charges, compared to net loss of $768.4 million, or (71.7)% of revenue, which included $892.2 million of non-cash impairment charges.



Adjusted EBITDA was $313.6 million, or 32.5% of revenue, compared to $304.1 million, or 28.4% of revenue.



Net cash provided by operating activities was $250.4 million, compared to $123.4 million.



Information about Bumble's use of non-GAAP financial measures is provided below under “Non-GAAP Financial Measures.”


“We executed according to plan in the fourth quarter, delivering results at the high end of our guidance ranges while completing the most intensive phase of our member base reset,” said Kevin Cook, CFO of Bumble Inc. “We continue to generate strong cash flow, and as we move into 2026, we are focused on maintaining financial discipline, thoughtfully investing in product innovation and preserving operating flexibility.”


Key Operating Metrics:


The following metrics were calculated excluding paying users of and revenue generated from Official, advertising, partnerships and affiliates and include paying users and revenue from Fruitz through July 2025, when the business was sold. Although Bumble For Friends app was relaunched as BFF in the United States in September 2025, the Company continues to generate revenue from the legacy Bumble For Friends app. As of December 31, 2025, BFF app has not generated any revenue and therefore is excluded from our key operating metrics. Please refer to the Definitions section for more information.




(In thousands, except ARPPU)






 






Quarter Ended

December 31, 2025






 






Quarter Ended

December 31, 2024






 






Year Ended

December 31, 2025






 






Year Ended

December 31, 2024








Bumble App Paying Users






 






 






2,185.2






 






 






2,812.6






 






 






2,434.4






 






 






2,807.3








Badoo App and Other Paying Users






 






 






1,136.2






 






 






1,366.2






 






 






1,237.7






 






 






1,342.0








Total Paying Users






 






 






3,321.5






 






 






4,178.8






 






 






3,672.1






 






 






4,149.3








Bumble App Average Revenue per Paying User






 






$






27.61






 






$






25.17






 






$






26.80






 






$






25.72








Badoo App and Other Average Revenue per Paying User






 






$






11.80






 






$






11.13






 






$






11.48






 






$






11.85








Total Average Revenue per Paying User






 






$






22.20






 






$






20.58






 






$






21.64






 






$






21.23







Balance Sheet:


As of December 31, 2025, total cash and cash equivalents were $175.8 million and total debt was $588.5 million.


Financial Outlook:


A reconciliation of Adjusted EBITDA to GAAP net earnings (loss) and Adjusted EBITDA margin growth to GAAP net earnings (loss) margin growth, which is growth in GAAP net earnings (loss) as a percentage of revenue, has not been provided for the outlook included herein, as the quantification of certain items included in the calculation of GAAP net earnings (loss) cannot be calculated or predicted at this time without unreasonable efforts. For example, the non-GAAP adjustment for stock-based compensation expense requires additional inputs, such as number of shares granted and market price that are not currently ascertainable, and the non-GAAP adjustment for certain legal, tax and regulatory reserves and expenses depends on the timing and magnitude of these expenses and cannot be accurately forecasted. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and potentially significant impact on its future GAAP financial results.


Bumble anticipates the following results for the first quarter ending March 31, 2026:


First Quarter 2026:



Total Revenue in the range of $209 million to $213 million, which includes:


Bumble App Revenue of $171 million to $174 million.






Adjusted EBITDA of $76 million to $80 million.



Actual results may differ materially from Bumble’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.


Conference Call and Webcast Information


Bumble will host a live webcast of its conference call to discuss its fourth quarter and full year 2025 financial results at 4:30 p.m. Eastern Time today, March 11, 2026. A webcast of the call and other information related to the call will be accessible on the Investors section of the Company’s website at https://ir.bumble.com. A webcast replay will be available approximately two hours after the conclusion of the live event.


Definitions


As used in this press release, unless otherwise noted or the context requires otherwise, the following terms have the following meanings. Our key metrics (Bumble App Paying Users, Badoo App and Other Paying Users, Total Paying Users, Bumble App Average Revenue per Paying User, Badoo App and Other Average Revenue per Paying User, and Total Average Revenue per Paying User) were calculated excluding paying users and revenue generated from Official, advertising, partnerships and affiliates and include paying users and revenue from Fruitz through July 2025, when the business was sold. Although the Bumble For Friends app was relaunched as BFF in the United States in September 2025, we continue to generate revenue from the legacy Bumble For Friends app. As of December 31, 2025, BFF app has not generated any revenue and therefore is excluded from our key operating metrics.


Total Revenue is the sum of Bumble App Revenue and Badoo App and Other Revenue.


Total Paying Users is the sum of Bumble App Paying Users and Badoo App and Other Paying Users.


Total Average Revenue per Paying User or Total ARPPU is a metric calculated based on Total Revenue in any measurement period divided by the Total Paying Users in such period divided by the number of months in the period.


Bumble App Revenue is revenue derived from purchases or renewals of a Bumble app or Bumble For Friends app subscription plan and/or in-app purchases on Bumble app or Bumble For Friends app in the relevant period.


Bumble App Paying User is a member that has purchased or renewed a Bumble app or Bumble For Friends app subscription plan and/or made an in-app purchase on Bumble app or Bumble For Friends app in a given month. We calculate Bumble App Paying Users as a monthly average, by counting the number of Bumble App Paying Users in each month and then dividing by the number of months in the relevant measurement period.


Bumble App Average Revenue per Paying User or Bumble App ARPPU is a metric calculated based on Bumble App Revenue in any measurement period, divided by Bumble App Paying Users in such period divided by the number of months in the period.


Badoo App and Other Revenue is revenue derived from purchases or renewals of a Badoo app subscription plan and/or in-app purchases on Badoo app in the relevant period, purchases on one of our other apps that we owned and operated in the relevant period, purchases on other third party apps that used our technology in the relevant period and advertising, partnerships or affiliates revenue in the relevant period.


Badoo App and Other Paying User is a member that has purchased or renewed a subscription plan and/or made an in-app purchase on Badoo app in a given month or made a purchase on one of our other apps that we owned and operated in a given month, or made a purchase on other third-party apps that used our technology in the relevant period. We calculate Badoo App and Other Paying Users as a monthly average, by counting the number of Badoo App and Other Paying Users in each month and then dividing by the number of months in the relevant measurement period.


Badoo App and Other Average Revenue per Paying User or Badoo App and Other ARPPU is a metric calculated based on Badoo App and Other Revenue in any measurement period divided by Badoo App and Other Paying Users in such period divided by the number of months in the period.


Non-GAAP Financial Measures


We report our financial results in accordance with GAAP, however, management believes that certain non-GAAP financial measures provide users of our financial information with useful supplemental information that enables a better comparison of our performance across periods. We believe Adjusted EBITDA provides visibility to the underlying continuing operating performance by excluding the impact of certain expenses, including income tax (benefit) provision, interest and derivative (gains) losses, net, depreciation and amortization expense, stock-based compensation expenses, employer costs related to stock-based compensation, foreign exchange (gain) loss, changes in fair value of contingent earn-out liability, investments in equity securities, transaction and other costs, litigation costs net of insurance reimbursements that arise outside of the ordinary course of business, tax receivable agreement liability remeasurement (benefit) expense, impairment loss, and costs associated with restructuring, as management does not believe these expenses are representative of our core earnings. We also provide Adjusted EBITDA margin, which is calculated as Adjusted EBITDA divided by revenue. In addition to Adjusted EBITDA and Adjusted EBITDA margin, we believe free cash flow and free cash flow conversion provide useful information regarding how cash provided by (used in) operating activities compares to the capital expenditures required to maintain and grow our business, and our available liquidity, after funding such capital expenditures, to service our debt, fund strategic initiatives, effectuate discretionary share repurchases and strengthen our balance sheet, as well as our ability to convert our earnings to cash. Additionally, we believe such metrics are widely used by investors, securities analysts, ratings agencies and other parties in evaluating liquidity and debt-service capabilities. We calculate free cash flow and free cash flow conversion using methodologies that we believe can provide useful supplemental information to help investors better understand underlying trends in our business.


Our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies, have limitations as analytical tools and should not be considered in isolation, or as substitutes for analysis of our operating results as reported under GAAP. Additionally, we do not consider our non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP.


Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) is defined as net earnings (loss) excluding income tax (benefit) provision, interest and derivative (gains) losses, net, depreciation and amortization expense, stock-based compensation expense, employer costs related to stock-based compensation, foreign exchange (gain) loss, changes in fair value of contingent earn-out liability, changes in fair value of investments in equity securities, transaction and other costs, litigation costs net of insurance reimbursements that arise outside of the ordinary course of business, tax receivable agreement liability remeasurement (benefit) expense, impairment loss, and restructuring costs.


Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue.


Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures.


Free cash flow conversion represents free cash flow as a percentage of Adjusted EBITDA.


Operating cash flow conversion represents net cash provided by (used in) operating activities as a percentage of net earnings (loss).


Forward-Looking Statements


This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements reflecting the current views of management of Bumble Inc. with respect to, among other things, our operations, our financial performance, our industry and our business and other non-historical statements, including without limitation statements related to our product innovation and member experience enhancement plans, statements regarding our ability to achieve product-led growth, our ability to maintain financial discipline and the statements in the “Financial Outlook” section of this press release. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe(s),” “expect(s),” “potential,” “continue(s),” “may,” “will,” “should,” “could,” “would,” “seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),” “anticipate(s),” “projection,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include, but are not limited to, the following:



our ability to retain existing members or attract new members and to convert members to paying users (including as a result of shifts in strategy)



competition and changes in the competitive landscape of our market



our ability to distribute our dating products through third parties, such as Apple App Store or Google Play Store, and offset related fees



our ability to attract, hire and retain a highly qualified and diverse workforce, or maintain our corporate culture, including as such factors may be impacted by our global workforce reductions and efforts to restructure our operations



our ability to maintain the value and reputation of our brands



risks relating to changes to our existing brands and products, or the introduction or acquisition of new brands or products



risks relating to certain of our international operations, including geopolitical conditions and successful expansion into new markets



the impact of data security breaches or cyber attacks on our systems and the costs of remediation related to any such incidents



challenges with properly managing the use of artificial intelligence



our ability to obtain, maintain, protect and enforce intellectual property rights and successfully defend against claims of infringement, misappropriation or other violations of third-party intellectual property



our ability to comply with complex and evolving U.S. and international laws and regulations relating to our business, including data privacy laws



our substantial indebtedness and our ability to repay or refinance such debt prior to its maturity



affiliates of Blackstone Inc.’s (“Blackstone”) and our Founder’s control of us



the outsized voting rights of Blackstone and our Founder



the risk that our restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated



risks relating to the TRA Buyout, including changes in applicable laws or fluctuations in our taxable income that could impact our ability to realize the anticipated benefits from the TRA Buyout



risks relating to the market price volatility of our Class A common stock, which could limit our ability to make acquisitions and retain key personnel and employees, and result in dilution if our stock-based compensation programs issue increased numbers of shares because of a depressed stock price or could result in increased cash compensation expense in the event that we shift the mix of incentive compensation in favor of cash-based awards over equity-based awards



changes in business or macroeconomic conditions, including the impact of lower consumer confidence in our business or in the online dating industry generally, recessionary conditions, increased unemployment rates, stagnant or declining wages, changes in inflation or interest rates, geopolitical events (such as trade wars), political unrest, armed conflicts, including conflicts in Eastern Europe and the Middle East, widespread health emergencies or pandemics and measures taken in response, extreme weather events or natural disasters



foreign currency exchange rate fluctuations



For additional information on these and other factors that could cause Bumble’s actual results to differ materially from expected results, please see our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2025, as such factors may be updated from time to time in our subsequent periodic filings, which are accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.


About Bumble


Bumble Inc. is the parent company of Bumble, Badoo and BFF. Bumble brings people closer to love by enabling them to build healthy relationships. Founded in 2014 by Whitney Wolfe Herd, who serves as CEO, Bumble was one of the first dating apps built with women at the center and connects people across dating (Bumble Date) and friendship (Bumble For Friends). Badoo, founded in 2006, was one of the pioneers of web and mobile dating products. BFF is a friendship app for friend-finding, group connections and community-building.




Bumble Inc.








Condensed Consolidated Balance Sheets








(In thousands, except share and per share information)








(Unaudited)











 



 






 






December 31, 2025






 






December 31, 2024








ASSETS






 






 






 






 








Cash and cash equivalents






 






$






175,760






 






 






$






204,319






 








Accounts receivable (net of allowance of $86 and $103, respectively)






 






 






83,062






 






 






 






99,687






 








Other current assets






 






 






46,449






 






 






 






38,236






 








Total current assets






 






 






305,271






 






 






 






342,242






 








Right-of-use assets






 






 






10,198






 






 






 






11,232






 








Property and equipment (net of accumulated depreciation of $22,706 and $21,811, respectively)






 






 






6,896






 






 






 






8,495






 








Goodwill






 






 






732,715






 






 






 






1,386,229






 








Intangible assets, net






 






 






351,454






 






 






 






748,906






 








Deferred tax assets, net






 






 






42






 






 






 






16,300






 








Other noncurrent assets






 






 






7,114






 






 






 






11,483






 








Total assets






 






$






1,413,690






 






 






$






2,524,887






 








LIABILITIES AND SHAREHOLDERS' EQUITY






 






 






 






 








Accounts payable






 






$






9,231






 






 






$






6,609






 








Deferred revenue






 






 






36,790






 






 






 






43,411






 








Accrued expenses and other current liabilities






 






 






86,226






 






 






 






82,800






 








Current portion of long-term debt, net






 






 






5,750






 






 






 






5,750






 








Total current liabilities






 






 






137,997






 






 






 






138,570






 








Long-term debt, net






 






 






582,715






 






 






 






611,346






 








Deferred tax liabilities, net






 






 






318






 






 






 






777






 








Payable to related parties pursuant to a tax receivable agreement






 






 






—






 






 






 






400,926






 








Other long-term liabilities






 






 






22,939






 






 






 






24,214






 








Total liabilities






 






 






743,969






 






 






 






1,175,833






 








Commitments and contingencies






 






 






 






 








Shareholders’ equity:






 






 






 






 








Class A common stock (par value $0.01 per share, 6,000,000,000 shares authorized; 129,613,455 shares issued and outstanding as of December 31, 2025; 107,107,632 shares issued and shares outstanding as of December 31, 2024)






 






 






1,297






 






 






 






1,071






 








Class B common stock (par value 0.01 per share, 1,000,000 shares authorized; 17 shares issued and outstanding as of December 31, 2025; 20 shares issued and outstanding as of December 31, 2024)






 






 






—






 






 






 






—






 








Preferred stock (par value $0.01; 600,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively)






 






 






—






 






 






 






—






 








Treasury stock (no shares outstanding as of December 31, 2025 and December 31, 2024, respectively)






 






 






—






 






 






 






—






 








Additional paid-in capital






 






 






1,803,429






 






 






 






1,453,483






 








Accumulated deficit






 






 






(1,403,466






)






 






 






(701,092






)








Accumulated other comprehensive income






 






 






158,948






 






 






 






71,073






 








Total Bumble Inc. shareholders’ equity






 






 






560,208






 






 






 






824,535






 








Noncontrolling interests






 






 






109,513






 






 






 






524,519






 








Total shareholders’ equity






 






 






669,721






 






 






 






1,349,054






 








Total liabilities and shareholders’ equity






 






$






1,413,690






 






 






$






2,524,887






 









Bumble Inc.








Condensed Consolidated Statements of Operations








(In thousands, except per share information)








(Unaudited)















 



 






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Revenue






 






$






224,165






 






 






$






261,648






 






 






$






965,658






 






 






$






1,071,643






 








Operating costs and expenses:






 






 






 






 






 






 






 






 








Cost of revenue






 






 






64,605






 






 






 






77,953






 






 






 






281,515






 






 






 






318,835






 








Selling and marketing expense






 






 






40,864






 






 






 






66,444






 






 






 






165,450






 






 






 






261,172






 








General and administrative expense






 






 






34,015






 






 






 






38,085






 






 






 






138,075






 






 






 






128,521






 








Product development expense






 






 






24,885






 






 






 






24,123






 






 






 






121,513






 






 






 






100,725






 








Depreciation and amortization expense






 






 






4,998






 






 






 






18,074






 






 






 






25,856






 






 






 






70,616






 








Impairment loss






 






 






630,541






 






 






 






—






 






 






 






1,039,027






 






 






 






892,248






 








Total operating costs and expenses






 






 






799,908






 






 






 






224,679






 






 






 






1,771,436






 






 






 






1,772,117






 








Operating earnings (loss)






 






 






(575,743






)






 






 






36,969






 






 






 






(805,778






)






 






 






(700,474






)








Interest expense, net






 






 






(9,499






)






 






 






(12,136






)






 






 






(42,448






)






 






 






(39,945






)








Other expense, net






 






 






(2,204






)






 






 






(8,642






)






 






 






(12,750






)






 






 






(4,827






)








Income (loss) before income taxes






 






 






(587,446






)






 






 






16,191






 






 






 






(860,976






)






 






 






(745,246






)








Income tax provision






 






 






(23,695






)






 






 






(6,865






)






 






 






(45,672






)






 






 






(23,128






)








Net earnings (loss)






 






 






(611,141






)






 






 






9,326






 






 






 






(906,648






)






 






 






(768,374






)








Net earnings (loss) attributable to noncontrolling interests






 






 






(111,729






)






 






 






5,147






 






 






 






(204,274






)






 






 






(211,366






)








Net earnings (loss) attributable to Bumble Inc. shareholders






 






$






(499,412






)






 






$






4,179






 






 






$






(702,374






)






 






$






(557,008






)








Net earnings (loss) per share attributable to Bumble Inc. shareholders






 






 






 






 






 






 






 






 








Basic and diluted loss per share






 






$






(4.06






)






 






$






0.04






 






 






$






(6.03






)






 






$






(4.61






)









Bumble Inc.








Condensed Consolidated Statements of Cash Flows








(In thousands)








(Unaudited)















 



 






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Cash flows from operating activities:






 






 






 






 






 






 






 






 








Net loss






 






$






(611,141






)






 






$






9,326






 






 






$






(906,648






)






 






$






(768,374






)








Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:






 






 






 






 






 






 






 






 








Impairment loss






 






 






630,541






 






 






 






—






 






 






 






1,039,027






 






 






 






892,248






 








Depreciation and amortization expense






 






 






4,998






 






 






 






18,074






 






 






 






25,856






 






 






 






70,616






 








Changes in fair value of interest rate swaps






 






 






641






 






 






 






(4,559






)






 






 






5,149






 






 






 






2,436






 








Changes in fair value of contingent earn-out liability






 






 






(323






)






 






 






1,824






 






 






 






(2,500






)






 






 






(20,208






)








Non-cash lease expense






 






 






846






 






 






 






804






 






 






 






3,276






 






 






 






3,402






 








Tax receivable agreement liability remeasurement expense






 






 






—






 






 






 






7,390






 






 






 






700






 






 






 






8,341






 








Deferred income tax






 






 






14,259






 






 






 






4,708






 






 






 






17,091






 






 






 






5,022






 








Stock-based compensation expense






 






 






9,592






 






 






 






13,972






 






 






 






31,189






 






 






 






26,245






 








Net foreign exchange difference






 






 






4,291






 






 






 






(20,660






)






 






 






17,159






 






 






 






(12,645






)








Other, net






 






 






1,172






 






 






 






19,401






 






 






 






6,339






 






 






 






3,746






 








Changes in assets and liabilities:






 






 






 






 






 






 






 






 








Accounts receivable






 






 






9,095






 






 






 






4,526






 






 






 






15,144






 






 






 






5,788






 








Other current assets






 






 






(10,997






)






 






 






(3,073






)






 






 






(7,581






)






 






 






(4,732






)








Accounts payable






 






 






5,515






 






 






 






(326






)






 






 






2,604






 






 






 






1,932






 








Deferred revenue






 






 






(2,121






)






 






 






(1,918






)






 






 






(6,621






)






 






 






(5,338






)








Legal liabilities






 






 






(400






)






 






 






(39,719






)






 






 






—






 






 






 






(65,763






)








Lease liabilities






 






 






(937






)






 






 






(185






)






 






 






(3,833






)






 






 






(1,213






)








Accrued expenses and other current liabilities






 






 






13,609






 






 






 






(15,359






)






 






 






16,045






 






 






 






(19,011






)








Other, net






 






 






(9,577






)






 






 






376






 






 






 






(2,033






)






 






 






949






 








Net cash provided by (used in) operating activities






 






 






59,063






 






 






 






(5,398






)






 






 






250,363






 






 






 






123,441






 








Cash flows from investing activities:






 






 






 






 






 






 






 






 








Capital expenditures






 






 






(2,737






)






 






 






(3,169






)






 






 






(11,682






)






 






 






(9,319






)








Acquisition of business, net of cash acquired






 






 






—






 






 






 






—






 






 






 






—






 






 






 






—






 








Acquisition of intangible assets






 






 






—






 






 






 






—






 






 






 






—






 






 






 






(17,435






)








Net cash used in investing activities






 






 






(2,737






)






 






 






(3,169






)






 






 






(11,682






)






 






 






(26,754






)








Cash flows from financing activities:






 






 






 






 






 






 






 






 








Repayment of term loan






 






 






(1,438






)






 






 






(1,437






)






 






 






(30,750






)






 






 






(5,750






)








Debt issuance costs






 






 






—






 






 






 






(189






)






 






 






—






 






 






 






(189






)








Distributions paid to noncontrolling interest holders






 






 






(1






)






 






 






(41






)






 






 






(5,195






)






 






 






(7,918






)








Share repurchases






 






 






—






 






 






 






(40,270






)






 






 






(28,682






)






 






 






(192,113






)








Purchase of Common Units






 






 






—






 






 






 






—






 






 






 






—






 






 






 






(22,184






)








Withholding tax paid on behalf of employees on stock-based awards






 






 






(1,041






)






 






 






(1,142






)






 






 






(8,830






)






 






 






(10,732






)








Payments on tax receivable agreement






 






 






(185,745






)






 






 






—






 






 






 






(194,662






)






 






 






(11,942






)








Net cash used in financing activities






 






 






(188,225






)






 






 






(43,079






)






 






 






(268,119






)






 






 






(250,828






)








Effects of exchange rate changes on cash and cash equivalents






 






 






(113






)






 






 






3,444






 






 






 






1,630






 






 






 






2,001






 








Net decrease in cash and cash equivalents and restricted cash






 






 






(132,012






)






 






 






(48,202






)






 






 






(27,808






)






 






 






(152,140






)








Cash and cash equivalents and restricted cash, beginning of the period






 






 






311,266






 






 






 






255,264






 






 






 






207,062






 






 






 






359,202






 








Cash and cash equivalents and restricted cash, end of the period






 






$






179,254






 






 






$






207,062






 






 






$






179,254






 






 






$






207,062






 








Less restricted cash






 






 






(3,494






)






 






 






(2,743






)






 






 






(3,494






)






 






 






(2,743






)








Cash and cash equivalents, end of the period






 






$






175,760






 






 






$






204,319






 






 






$






175,760






 






 






$






204,319






 









Bumble Inc.








Reconciliation of GAAP to NON-GAAP Financial Measures








(Unaudited)















 



Reconciliation of Net Earnings (Loss) to Adjusted EBITDA and Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow








 






 






 






 






 






 






 






 






 








(In thousands, except percentages)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Net earnings (loss)






 






$






(611,141






)






 






$






9,326






 






 






$






(906,648






)






 






$






(768,374






)








Add back:






 






 






 






 






 






 






 






 








Income tax provision






 






 






23,695






 






 






 






6,865






 






 






 






45,672






 






 






 






23,128






 








Interest and derivative (gains) losses, net(1)






 






 






9,499






 






 






 






5,141






 






 






 






42,448






 






 






 






39,945






 








Depreciation and amortization expense






 






 






4,998






 






 






 






18,074






 






 






 






25,856






 






 






 






70,616






 








Stock-based compensation expense






 






 






9,592






 






 






 






13,972






 






 






 






31,189






 






 






 






26,245






 








Employer costs related to stock-based compensation(2)






 






 






198






 






 






 






248






 






 






 






1,751






 






 






 






2,638






 








Litigation costs, net of insurance reimbursements(3)






 






 






2,096






 






 






 






1,035






 






 






 






7,051






 






 






 






10,730






 








Foreign exchange (gain) loss(4)






 






 






1,751






 






 






 






7,738






 






 






 






12,138






 






 






 






(3,777






)








Restructuring costs(5)






 






 






18






 






 






 






—






 






 






 






14,597






 






 






 






20,355






 








Transaction and other costs(6)






 






 






196






 






 






 






375






 






 






 






1,840






 






 






 






1,672






 








Changes in fair value of contingent earn-out liability






 






 






(323






)






 






 






1,824






 






 






 






(2,500






)






 






 






(20,208






)








Changes in fair value of investments in equity securities






 






 






458






 






 






 






517






 






 






 






516






 






 






 






543






 








Tax receivable agreement liability remeasurement expense(7)






 






 






—






 






 






 






7,390






 






 






 






700






 






 






 






8,341






 








Impairment loss(8)






 






 






630,541






 






 






 






—






 






 






 






1,039,027






 






 






 






892,248






 








Adjusted EBITDA






 






$






71,578






 






 






$






72,505






 






 






$






313,637






 






 






$






304,102






 








Net earnings (loss) margin






 






 






(272.6






)%






 






 






3.6






%






 






 






(93.9






)%






 






 






(71.7






)%








Adjusted EBITDA margin






 






 






31.9






%






 






 






27.7






%






 






 






32.5






%






 






 






28.4






%








 






 






 






 






 






 






 






 






 








Net cash provided by operating activities






 






$






59,063






 






 






$






(5,398






)






 






$






250,363






 






 






$






123,441






 








Less:






 






 






 






 






 






 






 






 








Capital expenditures






 






 






(2,737






)






 






 






(3,169






)






 






 






(11,682






)






 






 






(9,319






)








Free cash flow






 






$






56,326






 






 






$






(8,567






)






 






$






238,681






 






 






$






114,122






 








Operating cash flow conversion






 






*






 






 






(57.9






)%






 






*






 






*








Free cash flow conversion






 






 






78.7






%






 






 






(11.8






)%






 






 






76.1






%






 






 






37.5






%








*Not meaningful

























(1)







Includes interest income received on money market funds and interest rate swaps, fair value changes in interest rate swaps, and interest expense incurred in connection with our long-term debt.








(2)







Represents employer portion of Social Security and Medicare payroll taxes domestically, National Insurance contributions in the United Kingdom and comparable costs internationally related to the settlement of equity awards.








(3)







Represents certain litigation costs, net of insurance proceeds, associated with pending litigations or settlements of litigation that arise outside of the ordinary course of business.








(4)







Represents foreign exchange (gain) loss due to foreign currency transactions.








(5)







Represents costs associated with discontinuing the operations of the Fruitz and Official apps and the 2025 and 2024 Restructuring Plans, such as severance, benefits and other related costs.








(6)







Represents transaction and other costs primarily related to acquisitions and divestiture of business.








(7)







Represents recognized adjustments to the tax receivable agreement liability.








(8)







Represents impairment charges to goodwill, indefinite-lived intangible assets, Fruitz asset held for sale, the Official asset group and trademarks in 2025, as well as the indefinite-lived intangible assets, Fruitz asset group, and goodwill in 2024.









Supplementary Information (Unaudited)















 



Stock-Based Compensation Expense















 



(In thousands)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Cost of revenue






 






$






(195






)






 






$






326







 






$






18







 






$






690






 








Selling and marketing expense






 






 






950






 






 






 






1,032






 






 






 






1,420






 






 






 






(1,296






)








General and administrative expense






 






 






7,419






 






 






 






8,506






 






 






 






13,389






 






 






 






22,673






 








Product development expense






 






 






1,418






 






 






 






4,108






 






 






 






16,362






 






 






 






4,178






 








Total stock-based compensation expense






 






$






9,592






 






 






$






13,972






 






 






$






31,189






 






 






$






26,245






 









Reconciliation of GAAP costs and expenses to non-GAAP costs and expenses by function















 



(In thousands)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Cost of revenue GAAP






 






$






64,605






 






 






$






77,953






 






 






$






281,515






 






 






$






318,835






 








Stock-based compensation expense






 






 






195






 






 






 






(326






)






 






 






(18






)






 






 






(690






)








Employer costs related to stock-based compensation






 






 






(5






)






 






 






(15






)






 






 






(55






)






 






 






(128






)








Restructuring costs






 






 






(43






)






 






 






—






 






 






 






(912






)






 






 






(971






)








Transaction and other costs






 






 






—






 






 






 






—






 






 






 






(434






)






 






 






(423






)








Cost of revenue non-GAAP






 






$






64,752






 






 






$






77,612






 






 






$






280,096






 






 






$






316,623






 









(In thousands)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Selling and marketing expense GAAP






 






$






40,864






 






 






$






66,444






 






 






$






165,450






 






 






$






261,172






 








Stock-based compensation expense






 






 






(950






)






 






 






(1,032






)






 






 






(1,420






)






 






 






1,296






 








Employer costs related to stock-based compensation






 






 






(8






)






 






 






(24






)






 






 






(77






)






 






 






(253






)








Restructuring costs






 






 






(109






)






 






 






—






 






 






 






(2,483






)






 






 






(3,244






)








Selling and marketing expense non-GAAP






 






$






39,797






 






 






$






65,388






 






 






$






161,470






 






 






$






258,971






 









(In thousands)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








General and administrative expense GAAP






 






$






34,015






 






 






$






38,085






 






 






$






138,075






 






 






$






128,521






 








Changes in fair value of contingent earn-out liability






 






 






323






 






 






 






(1,824






)






 






 






2,500






 






 






 






20,208






 








Litigation costs, net of insurance proceeds






 






 






(2,096






)






 






 






(1,035






)






 






 






(7,051






)






 






 






(10,730






)








Stock-based compensation expense






 






 






(7,419






)






 






 






(8,506






)






 






 






(13,389






)






 






 






(22,673






)








Employer costs related to stock-based compensation






 






 






(63






)






 






 






(65






)






 






 






(472






)






 






 






(884






)








Restructuring costs






 






 






(52






)






 






 






—






 






 






 






(4,747






)






 






 






(6,094






)








Transaction and other costs






 






 






15






 






 






 






(71






)






 






 






(238






)






 






 






(597






)








General and administrative expense non-GAAP






 






$






24,723






 






 






$






26,584






 






 






$






114,678






 






 






$






107,751






 









(In thousands)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Product development expense GAAP






 






$






24,885






 






 






$






24,123






 






 






$






121,513






 






 






$






100,725






 








Stock-based compensation expense






 






 






(1,418






)






 






 






(4,108






)






 






 






(16,362






)






 






 






(4,178






)








Employer costs related to stock-based compensation






 






 






(122






)






 






 






(144






)






 






 






(1,147






)






 






 






(1,373






)








Restructuring costs






 






 






186






 






 






 






—






 






 






 






(6,455






)






 






 






(10,046






)








Transaction and other costs






 






 






(211






)






 






 






(304






)






 






 






(1,178






)






 






 






(652






)








Product development expense non-GAAP






 






$






23,320






 






 






$






19,567






 






 






$






96,371






 






 






$






84,476






 









(In thousands)






 






Quarter Ended

December 31,

2025






 






Quarter Ended

December 31,

2024






 






Year Ended

December 31,

2025






 






Year Ended

December 31,

2024








Total operating costs and expenses GAAP






 






$






799,908






 






 






$






224,679






 






 






$






1,771,436






 






 






$






1,772,117






 








Impairment loss






 






 






(630,541






)






 






 






—






 






 






 






(1,039,027






)






 






 






(892,248






)








Depreciation and amortization expense






 






 






(4,998






)






 






 






(18,074






)






 






 






(25,856






)






 






 






(70,616






)








Changes in fair value of contingent earn-out liability






 






 






323






 






 






 






(1,824






)






 






 






2,500






 






 






 






20,208






 








Litigation costs, net of insurance proceeds






 






 






(2,096






)






 






 






(1,035






)






 






 






(7,051






)






 






 






(10,730






)








Stock-based compensation expense






 






 






(9,592






)






 






 






(13,972






)






 






 






(31,189






)






 






 






(26,245






)








Employer costs related to stock-based compensation






 






 






(198






)






 






 






(248






)






 






 






(1,751






)






 






 






(2,638






)








Restructuring costs






 






 






(18






)






 






 






—






 






 






 






(14,597






)






 






 






(20,355






)








Transaction and other costs






 






 






(196






)






 






 






(375






)






 






 






(1,850






)






 






 






(1,672






)








Total operating costs and expenses non-GAAP






 






$






152,592






 






 






$






189,151






 






 






$






652,615






 






 






$






767,821






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311314741/en/
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Original: Bumble Inc. Announces Fourth Quarter and Full Year 2025 Results