PR NEWSWIRE - Colleen Birdnow Brown, Interim CEO of Spark Networks, said: "Spark has embarked on a transformational plan intended to drive the Company forward with revenue growth as well as improved margins, Adjusted EBITDA and cash flow. We reduced our user acquisition spend during the quarter by 43% as compared to the second quarter of 2022. In addition, we also reduced our operating expenses during the quarter by 16% year over year, primarily by reducing headcount and renegotiating vendor spend. With these cost reductions, we increased Adjusted EBITDA by $8.9M compared to the Q2 of 2022." Revenue was $41.2M, compared to $48M in the Q2 of 2022. Net loss was $26.9M, compared to $8.8M in the Q2 of 2022. Adjusted EBITDA was $7.2M, compared to $(1.7)M in Q2 2022.
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