Q1 2024 Bumble Inc Earnings Call Transcript
Key Points
- Bumble Inc (BMBL) reported a 10% year-over-year increase in total revenue, reaching $268 million in Q1 2024.
- The Bumble app experienced an 11% revenue growth, driven by an increase in paying users, which grew 18% to 2.7 million.
- Adjusted EBITDA for Q1 was $74 million, representing a 28% margin, which exceeded the high end of Bumble Inc (BMBL)'s outlook.
- Bumble Inc (BMBL) successfully launched new features and a refreshed brand identity aimed at enhancing user experience and safety, and expanding monetization options.
- The company returned $84 million of capital to shareholders through its stock repurchase program, demonstrating strong financial discipline and shareholder value focus.
- Average revenue per paying user (ARPPU) for Bumble apps declined by 6% to $26.34, primarily due to geographic mix shift.
- Despite overall growth, the Badoo app and other revenue segments saw a slight decline in ARPPU by 1% to $12.35.
- The company reported a decrease in stock-based compensation expense, which was largely due to headcount reductions, indicating potential challenges in workforce stability.
- Bumble Inc (BMBL) faces ongoing challenges in the US market with slower top of funnel trends, particularly among younger users.
- Foreign exchange trends have become more unfavorable since the previous outlook, expected to create an incremental headwind to revenue of at least 50 basis points.
Hello, and welcome to the Bumble first-quarter 2024 financial results conference call. My name is Elliott, and I'll be coordinating your call today. (Operator Instructions) I would now like to hand over to Charles Valenzuela, VP of Investor Relations. The floor is yours Please go ahead.
Thank you for joining us to discuss Bumble's first-quarter 2024 financial results. With me today are Lidiane Jones, CEO; and Anuradha Subramanian, CFO of Bumble. Before we begin, I'd like to remind everyone that certain statements made on this call today are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, and reflect our current expectations based on our beliefs, assumptions, and information currently available to us.
Although we believe these expectations are reasonable, we undertake no obligation to revise any statement to reflect changes that occur after this call. Descriptions of factors and risks that could cause actual results to differ materially from these
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
