Bumble (BMBL) Q4 2025 earnings summary

Executive summary

• Achieved Q4 and full-year 2025 results at the high end of guidance, with revenue declining 9.9% year-over-year to $965.7 million and a net loss of $906.6 million driven by $1,039.0 million in non-cash impairment charges.

• Stabilized app registrations and active users despite an 80%+ reduction in performance marketing, shifting to organic, high-intent growth.

• Completed foundational work to improve member quality and engagement, with increased paid penetration and a healthier monetization base.

• Preparing for a major product and technology relaunch (Tech Stack 2.0) in Q2 2026, aiming to accelerate innovation and deepen personalization.

• Net cash from operating activities rose to $250.4 million, up from $123.4 million in 2024.

Financial highlights

• Q4 2025 total revenue was $224.2 million, down 14.3% year-over-year; Bumble App revenue was $181.0 million, down 15%.

• Adjusted EBITDA for Q4 was $72 million (32% margin), with full-year Adjusted EBITDA at $313.6 million (32.5% margin), both up from 2024.

• Net loss for Q4 2025 was $611.1 million, compared to net earnings of $9.3 million in Q4 2024, driven by $630.5 million in impairment charges.

• Free cash flow for 2025 was $238.7 million, with a conversion rate of 76.1%.

• Ended 2025 with $176 million in cash and cash equivalents; total debt was $588.5 million.

Outlook and guidance

• Q1 2026 revenue expected between $209 million and $213 million, with Bumble App revenue of $171 million–$174 million and Adjusted EBITDA of $76 million–$80 million.

• Revenue headwinds expected to moderate through 2026 as product improvements and monetization gains flow through.

• Margin performance to benefit from increased adoption of direct payments and continued disciplined marketing spend.