Bumble Inc. (BMBL) Bundle
A Brief History of Bumble Inc.
Company Overview
Bumble Inc. operates as a technology company that provides dating and social networking services through its mobile applications, primarily Bumble and Badoo. As of September 30, 2024, Bumble Inc. reported total revenue of $273.6 million for the third quarter and $810.0 million for the nine months ended September 30, 2024.
| Period | Total Revenue (in millions) | Net Earnings (Loss) (in millions) | Basic Earnings (Loss) Per Share | Cash and Cash Equivalents (in millions) |
|---|---|---|---|---|
| Q3 2024 | $273.6 | $(613.4) | $(5.11) | $252.1 |
| Q3 2023 | $275.5 | $16.7 | $0.12 | $355.7 |
| 9M 2024 | $810.0 | $(566.7) | $(4.53) | $252.1 |
| 9M 2023 | $778.2 | $21.5 | $0.16 | $355.7 |
Recent Financial Performance
For the three months ended September 30, 2024, Bumble reported a decrease in total revenue of approximately 0.3% compared to the same period in 2023. The decrease in revenue was attributed to a decline in average revenue per paying user and unfavorable foreign currency fluctuations, despite an increase in total paying users.
Expenses Overview
The company reported various expenses that have been impacted by its restructuring efforts:
- Product Development Expense: $24.9 million for Q3 2024, down from $30.9 million in Q3 2023.
- Selling and Marketing Expense: $63.5 million for Q3 2024, down from $68.8 million in Q3 2023.
- General and Administrative Expense: $33.3 million for Q3 2024, down from $48.6 million in Q3 2023.
| Expense Type | Q3 2024 (in millions) | Q3 2023 (in millions) | Change (%) |
|---|---|---|---|
| Product Development | $24.9 | $30.9 | -19.5% |
| Selling and Marketing | $63.5 | $68.8 | -7.7% |
| General and Administrative | $33.3 | $48.6 | -31.5% |
Impairment Charges
Bumble Inc. recognized an impairment loss of $892.2 million during the three and nine months ended September 30, 2024. This loss included $670.3 million for indefinite-lived intangible assets and $197.2 million for goodwill. There were no impairment charges recorded for the same periods in 2023.
Cash Flow and Liquidity
As of September 30, 2024, Bumble had $252.1 million in cash and cash equivalents, a decrease of $103.6 million from December 31, 2023. The company generated $128.8 million in net cash from operating activities for the nine months ended September 30, 2024, compared to $118.7 million in the same period of 2023.
| Cash Flow Category | 9M 2024 (in millions) | 9M 2023 (in millions) |
|---|---|---|
| Net Cash Provided by Operating Activities | $128.8 | $118.7 |
| Net Cash Used in Investing Activities | $(23.6) | $(22.6) |
| Net Cash Used in Financing Activities | $(207.7) | $(58.4) |
Stock Repurchase Program
In May 2024, Bumble's Board of Directors approved a share repurchase program of up to $450 million. During the three months ended September 30, 2024, Bumble repurchased 14.2 million shares for approximately $89.7 million. As of October 31, 2024, $89.0 million remained available for repurchase under this program.
Restructuring Plan
In February 2024, Bumble announced a restructuring plan to reduce its global workforce, incurring approximately $20.4 million in non-recurring charges through Q3 2024. The plan aimed to streamline operations and improve financial performance.
A Who Owns Bumble Inc. (BMBL)
Major Shareholders
As of 2024, Bumble Inc. has a diverse ownership structure comprising institutional investors, company executives, and private equity firms. The following table outlines the major shareholders and their respective ownership stakes:
| Shareholder | Ownership Stake (%) | Type of Ownership |
|---|---|---|
| Blackstone Group Inc. | 23.4% | Institutional Investor |
| Whitney Wolfe Herd (CEO) | 10.2% | Insider |
| Vanguard Group | 8.1% | Institutional Investor |
| Fidelity Investments | 7.6% | Institutional Investor |
| Other Institutional Investors | 25.1% | Various |
| Public Float | 25.6% | Retail Investors |
Recent Share Repurchases
In 2023, Bumble Inc. engaged in significant share repurchase activities, including:
- Repurchased approximately 4.0 million shares from Blackstone for $100 million.
- Repurchased approximately 2.5 million shares in March 2024 for $50 million.
Stock Performance
Bumble Inc. has experienced fluctuations in stock performance, with the following key metrics reported as of September 30, 2024:
| Metric | Value |
|---|---|
| Current Stock Price | $10.45 |
| Market Capitalization | $1.45 billion |
| 52-Week Range | $8.50 - $15.75 |
| Average Daily Volume | 1.2 million shares |
Financial Overview
For the nine months ended September 30, 2024, Bumble Inc. reported the following financial results:
| Financial Metric | Value |
|---|---|
| Total Revenue | $810.0 million |
| Net Loss | $(777.7 million) |
| Adjusted EBITDA | $231.6 million |
| Cash and Cash Equivalents | $252.1 million |
| Total Assets | $2.59 billion |
Conclusion on Ownership Dynamics
The ownership dynamics of Bumble Inc. reflect a blend of institutional investment and insider holdings, with a significant portion of stock held by private equity firms like Blackstone. The company's strategic share repurchase program aims to enhance shareholder value amidst evolving market conditions.
Bumble Inc. (BMBL) Mission Statement
Company Overview
Bumble Inc. operates a dating application that empowers users to connect with others in a safe and respectful manner. The company's mission is to create a world where all relationships are healthy and equitable. Bumble Inc. aims to foster connections that are based on respect, equality, and empowerment.
Financial Performance
As of September 30, 2024, Bumble Inc. reported the following key financial metrics:
| Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Total Revenue | $273.6 million | $275.5 million | $810.0 million | $778.2 million |
| Bumble App Revenue | $220.2 million | $221.8 million | $653.9 million | $624.0 million |
| Badoo App and Other Revenue | $53.4 million | $53.7 million | $156.1 million | $154.2 million |
| Net Earnings (Loss) | $(849.3) million | $23.1 million | $(777.7) million | $30.1 million |
| Net Earnings (Loss) Margin | -310.4% | 8.4% | -96.0% | 3.9% |
Key Operating Metrics
Bumble Inc. also tracks several operating metrics to assess its performance:
| Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Total Paying Users | 4.26 million | 3.82 million | 4.14 million | 3.64 million |
| Bumble App Paying Users | 2.87 million | 2.60 million | 2.81 million | 2.46 million |
| Badoo App and Other Paying Users | 1.39 million | 1.22 million | 1.33 million | 1.18 million |
| Bumble App ARPPU | $25.58 | $28.38 | $25.90 | $28.18 |
| Badoo App ARPPU | $12.03 | $12.79 | $12.10 | $12.70 |
Stock Information
As of September 30, 2024, Bumble Inc. had the following stock performance metrics:
| Metric | Value |
|---|---|
| Basic Earnings (Loss) per Share | $(5.11) |
| Diluted Earnings (Loss) per Share | $(5.11) |
| Total Shares Outstanding | 139.6 million |
| Total Shareholders' Equity | $852.6 million |
Cash Flow and Liquidity
Bumble Inc.'s cash flow metrics for the nine months ended September 30, 2024, are as follows:
| Metric | Value |
|---|---|
| Net Cash Provided by Operating Activities | $128.8 million |
| Free Cash Flow | $122.7 million |
| Net Cash Used in Investing Activities | $(23.6) million |
| Net Cash Used in Financing Activities | $(207.7) million |
Conclusion
The mission of Bumble Inc. is supported by its financial performance and user metrics, reflecting its commitment to fostering healthy connections among users. The company continues to navigate challenges while focusing on growth and user engagement.
How Bumble Inc. (BMBL) Works
Business Model
Bumble Inc. operates primarily through its dating apps, Bumble and Badoo, generating revenue from subscription services and in-app purchases. The company offers various subscription tiers, enabling users to access premium features.
Key Financial Metrics
As of September 30, 2024, Bumble Inc. reported the following financial results:
| Metric | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Total Revenue | $273.6 million | $275.5 million | $810.0 million | $778.2 million |
| Bumble App Revenue | $220.2 million | $221.8 million | $653.9 million | $624.0 million |
| Badoo App and Other Revenue | $53.4 million | $53.7 million | $156.1 million | $154.2 million |
| Net Earnings (Loss) | $(849.3) million | $23.1 million | $(777.7) million | $30.1 million |
| Adjusted EBITDA | $82.6 million | $75.3 million | $231.6 million | $201.9 million |
User Statistics
As of September 30, 2024, Bumble Inc. reported the following user statistics:
| Metric | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Bumble App Paying Users | 2.87 million | 2.60 million | 2.81 million | 2.46 million |
| Badoo App and Other Paying Users | 1.39 million | 1.22 million | 1.33 million | 1.18 million |
| Total Paying Users | 4.26 million | 3.82 million | 4.14 million | 3.64 million |
Revenue Breakdown
The revenue streams for Bumble Inc. are categorized as follows:
| Source | Revenue (Q3 2024) | Revenue (Q3 2023) |
|---|---|---|
| Subscription Services | $273.6 million | $275.5 million |
| In-App Purchases | N/A | N/A |
Operating Expenses
For the three months ended September 30, 2024, Bumble Inc.'s operating expenses included:
| Expense Type | Amount (Q3 2024) | Amount (Q3 2023) |
|---|---|---|
| Cost of Revenue | $79.6 million | $80.0 million |
| Selling and Marketing Expense | $63.5 million | $68.8 million |
| General and Administrative Expense | $33.3 million | $48.6 million |
| Product Development Expense | $24.9 million | $30.9 million |
| Depreciation and Amortization Expense | $18.3 million | $17.1 million |
| Impairment Loss | $892.2 million | $0 million |
Balance Sheet Highlights
As of September 30, 2024, Bumble Inc. reported the following balance sheet highlights:
| Item | Amount |
|---|---|
| Total Assets | $2.59 billion |
| Cash and Cash Equivalents | $252.1 million |
| Long-term Debt | $618.0 million |
| Total Shareholders' Equity | $1.37 billion |
How Bumble Inc. (BMBL) Makes Money
Revenue Streams
Bumble Inc. generates revenue through various streams, predominantly from subscription services and in-app purchases across its platforms, including the Bumble App and the Badoo App.
Subscription Revenue
The primary source of revenue for Bumble Inc. comes from subscription services. The Bumble App reported revenue of $220.2 million for the three months ended September 30, 2024, compared to $221.8 million for the same period in 2023. For the nine months ended September 30, 2024, revenue from the Bumble App was $653.9 million, up from $624.0 million year-over-year.
Badoo App Revenue
Revenue from the Badoo App and other services was $53.4 million for the three months ended September 30, 2024, slightly down from $53.7 million in the same quarter of 2023. For the nine months of 2024, Badoo revenue reached $156.1 million, compared to $154.2 million for the previous year.
| Revenue Source | Q3 2024 Revenue (in millions) | Q3 2023 Revenue (in millions) | 9M 2024 Revenue (in millions) | 9M 2023 Revenue (in millions) |
|---|---|---|---|---|
| Bumble App | $220.2 | $221.8 | $653.9 | $624.0 |
| Badoo App and Other | $53.4 | $53.7 | $156.1 | $154.2 |
| Total Revenue | $273.6 | $275.5 | $810.0 | $778.2 |
Paying Users
Bumble Inc. reported a total of 4.26 million paying users as of September 30, 2024, an increase from 3.82 million in the same quarter of 2023. The Bumble App had approximately 2.87 million paying users, while Badoo and other services contributed 1.39 million paying users.
| Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Paying Users | 4.26 million | 3.82 million |
| Bumble App Paying Users | 2.87 million | 2.60 million |
| Badoo App and Other Paying Users | 1.39 million | 1.22 million |
Average Revenue Per Paying User (ARPPU)
The Average Revenue Per Paying User (ARPPU) has shown a decline, which impacted overall revenue. For the Bumble App, the ARPPU was $25.58 in Q3 2024, down from $28.38 in Q3 2023. Similarly, Badoo's ARPPU decreased to $12.03 from $12.79 year-over-year.
| Platform | Q3 2024 ARPPU | Q3 2023 ARPPU |
|---|---|---|
| Bumble App | $25.58 | $28.38 |
| Badoo App and Other | $12.03 | $12.79 |
Advertising and Partnerships
In addition to subscription revenue, Bumble also generates income through advertising and partnerships. While specific figures for advertising revenue were not detailed in the earnings report, it is recognized when advertisements are displayed, contributing to the overall revenue mix.
Operating Costs and Expenses
For the three months ended September 30, 2024, Bumble's total operating costs and expenses amounted to $1.11 billion, reflecting a significant increase primarily due to an $892.2 million impairment loss. This resulted in a net loss of $849.3 million for the quarter.
| Expense Category | Q3 2024 (in thousands) | Q3 2023 (in thousands) |
|---|---|---|
| Cost of Revenue | $79,552 | $80,049 |
| Selling and Marketing Expense | $63,549 | $68,848 |
| General and Administrative Expense | $33,251 | $48,577 |
| Product Development Expense | $24,880 | $30,909 |
| Impairment Loss | $892,248 | $0 |
| Total Operating Costs | $1,111,792 | $245,510 |
Conclusion of Financial Performance
For the nine months ended September 30, 2024, Bumble Inc. reported a total revenue of $810.0 million with a net loss of $777.7 million, which includes the significant impairment loss. The company's financial metrics indicate a complex landscape of growth in user base but challenges in maintaining revenue per user.
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Resources:
- Bumble Inc. (BMBL) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Bumble Inc. (BMBL)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Bumble Inc. (BMBL)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.