Bumble (BMBL) Q2 2022 Earnings Results

By Amit Chowdhry ● Aug 11, 2022
  • Bumble recently announced its Q2 2022 earnings results. These are the details.

Bumble recently announced its Q2 2022 earnings results. Below are the highlights.

Q2 2022 Financial and Operational Highlights: (All comparisons relative to the Second Quarter 2021)

1.) Total Revenue increased 18.4% to $220.5 million, compared to $186.2 million. This includes an unfavorable impact of $9.4 million from foreign currency movements year over year.

a.) Bumble App Revenue grew 33.2% to $169.6 million.

b.) Badoo App and Other Revenue declined 13.7% to $50.8 million.

2.) Total Paying Users increased to 3.0 million, compared to 2.9 million.

3.) Total Average Revenue per Paying User (“ARPPU”) increased to $23.65, compared to $20.88.

4.) Net loss was $6.4 million or (2.9)% of revenue, compared to a net loss of $11.1 million, or (6.0)% of revenue.

5.) Adjusted EBITDA was $54.8 million, or 24.8% of revenue, compared to $51.9 million, or 27.9% of revenue.

Financial Outlook:

Bumble anticipates Total Revenue and adjusted EBITDA for the third quarter and year ending December 31, 2022 to be:

Third quarter 2022:

1.) Total Revenue in the range of $236 million to $240 million, which includes:

a.) Impact from the conflict in Ukraine of $6 million, primarily in Badoo App and Other Revenue.

b.) An estimated unfavorable impact of $12 million from foreign currency movements.

2.) Bumble App Revenue of $184 million to $187 million. This includes an estimated unfavorable impact of $6 million from foreign currency movements.

3.) Adjusted EBITDA in the range of $58 million to $60 million.

Full year 2022:

1.) Total Revenue in the range of $920 million to $930 million, which includes:

a.) Impact from the conflict in Ukraine of $20 million, primarily in Badoo App and Other Revenue.

b.) An estimated unfavorable impact of $36 million from foreign currency movements, an increase of $8 million from the May outlook, and an increase of $16 million from the March outlook.

2.) Bumble App year-over-year revenue growth of 32% to 34%. This includes an estimated unfavorable impact of $18 million from foreign currency movements, an increase of $3 million from the May outlook and a $7 million increase from the March outlook.

3.) Adjusted EBITDA margin in the range of 24.5% to 25%, including $16 million of incremental expenses the Company expects to incur from complying with the Google Play billing mandate which started on April 1, 2022.

KEY QUOTES:

“Our strong second quarter results reflect the strength of our products, the relevance of our mission and the enduring fundamental human need for love and connection. With its powerful women-first approach, Bumble App drove robust paying user growth, while expanding to more markets around the globe. Across the company, we believe our focus on product innovation, underscored by our drive to create an inclusive and trusted experience for our users, continues to differentiate us from the competition while delivering profitable growth.”

— Whitney Wolfe Herd, Founder and CEO of Bumble

“We are encouraged by the strong momentum of our business in this dynamic operating environment. We delivered an 18% increase in total revenue and drove strong bottom-line results, with adjusted EBITDA of $55 million exceeding our Q2 outlook. As we move into the second half of the year, we remain focused on executing on our growth initiatives and are confident in our ability to drive profitable growth for our shareholders.”

— Anu Subramanian, CFO of Bumble