PRESS RELEASE - Revenue: Total revenue declined slightly by 1% to $274M, with Bumble App revenue down 1% to $220 million. Paying users for the Bumble App increased by 10% to 2.9M, up by 52K from the previous quarter. Losses: Bumble reported a net loss of $849.3M, primarily due to a non-cash impairment charge of $892.2M. This charge reflects a lowered valuation of company assets, largely due to a drop in Bumble's stock price and market value. User and Revenue Metrics: Overall, paying users grew from 3.8M to 4.3M, but the average revenue per paying user decreased from $23.42 to $21.17. Profitability: Adjusted EBITDA rose to $82.6M (30.2% of revenue), up from $75.3M (27.3%). Share Buybacks: The company repurchased $89.7M in shares in Q3 and an additional $30M in October, with $89M still available for repurchases. Outlook: For Q4 2024, Bumble anticipates revenue between $256 and $262M, with projected full-year revenue between $1.066 and $1.072B.
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