THE MOTLEY FOOL - Apr 15 - After a highly successful IPO, shares of Bumble have fallen 24% from their highs. Bumble benefited from the pandemic-driven stay-at-home economy, as online dating became one of the only mediums to meet a match. Yet despite the seemingly perfect environment for its business, the company still struggled to generate positive earnings. The company faces a drag on its business from Badoo, whose revenue per paying subscriber fell 9.8% in 2020. Bumble suffered an overall net loss of $142.8M, which was in stark contrast to the $85M profit in 2019. The swing owes to a significant 74% ($292M) increase in operating expenses, which grew much faster than the 19% increase in revenue. Granted, some of the additional expenses may not recur in 2021.
by Anthony Di Pizio
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