Bumble (NASDAQ:BMBL) saw its shares jump after it reported better-than-expected fourth-quarter earnings and revenue. Bumble posted revenue of $191 million, above the $186 million estimated by analysts polled by FactSet. Revenue also exceeded analysts’ expectations, at $242 million versus analysts’ estimates of $236 million.
Said CEO Whitney Wolfe Herd, “We achieved strong results in 2022 by advancing our powerful products, technology and mission to create kind connections,. By delivering unique and engaging product experiences built upon a foundation of trust and safety, our team is realizing the tremendous potential of our brands. The momentum of our business continues to strengthen our confidence in our long-term opportunity.“
Fourth-quarter net loss was $159.2 million or (65.9)% of revenue, compared to net loss of $13.9 million, or (6.7)% of revenue. Adjusted EBITDA was $60.5 million, or 25.0% of revenue, compared to $54.8 million, or 26.4% of revenue.
Bumble anticipates total revenue, adjusted EBITDA and adjusted EBITDA margin for the quarter ending March 31, 2023 and year ending December 31, 2023 to be: First-quarter 2023 total revenue in the range of $238 to $243 million; Bumble App revenue of $190 to $193 million; Adjusted EBITDA in the range of $53 to $56 million.
Full-year total revenue year-over-year growth is expected in the range of 16% to 19%.
Bumble App year-over-year revenue growth in the range of 22% to 25%. Adjusted EBITDA margin growth of approximately 100 basis points.
BMBL shares hike $1.37, or 5.9%, to $24.71.
