Bumble (BMBL) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was $273.6M, down 0.7% year-over-year, with Bumble App revenue at $220.2M and Badoo App and Other revenue at $53.4M; net loss was $849.3M due to $892.2M in impairment charges.

• Adjusted EBITDA rose to $82.6M (30.2% margin), up 10% year-over-year, driven by disciplined operations and cost management.

• Total paying users increased 11% year-over-year to 4.3M, with Bumble App paying users up 10% to 2.9M.

• Transformation initiatives focused on leaner operations, leadership, data-driven decisions, and faster execution in engineering and product.

• Strategic priorities include ecosystem health, customer experience innovation, and revenue strategy enhancements.

Financial highlights

• Total ARPPU declined 10% year-over-year to $21.17; Bumble App ARPPU fell to $25.58, Badoo and Other ARPPU to $12.03.

• Cash and cash equivalents at September 30, 2024 were $252.1M; total debt was $618.0M.

• Free cash flow for Q3 2024 was $91.9M; free cash flow for the nine months was $122.7M.

• Adjusted EBITDA margin improved to 30.2% from 27.3% year-over-year.

• Net loss margin was (310.4)% in Q3 2024, compared to 8.4% net earnings margin in Q3 2023.

Outlook and guidance

• Q4 2024 revenue expected between $256M and $262M; Bumble App revenue between $207M and $211M.

• Q4 2024 adjusted EBITDA projected at $70M–$73M (28% margin midpoint).

• Full-year 2024 revenue guidance is $1,066M–$1,072M, with adjusted EBITDA $302M–$305M and margin expansion of at least 200 basis points.

• Q4 Bumble App payer net adds expected to decline by 70,000–80,000; full-year net adds ~285,000.

• Management warns user growth and monetization may be negatively impacted during the transition.