Tiga Acquisition Corp. (TINV) Bundle
A Brief History of TINV
As of 2024, TINV has experienced significant growth and transformation in its operations and financial performance. The company reported a revenue of $89.3 million for the three months ended September 30, 2024, compared to $70.3 million for the same period in 2023, indicating a year-over-year increase of 27.0%. For the nine months ended September 30, 2024, TINV's revenue reached $247.0 million, up from $187.6 million in 2023, marking a growth of 31.7%.
Revenue Breakdown
The revenue consists of both direct and indirect sources. Direct revenue for the three months ended September 30, 2024, was $76.9 million, up 24.8% from $61.6 million in 2023. Indirect revenue also saw a substantial increase, rising to $12.4 million from $8.7 million, reflecting a growth of 42.5%.
| Period | Direct Revenue (in millions) | Indirect Revenue (in millions) | Total Revenue (in millions) |
|---|---|---|---|
| Q3 2024 | $76.9 | $12.4 | $89.3 |
| Q3 2023 | $61.6 | $8.7 | $70.3 |
| 9M 2024 | $211.2 | $35.8 | $247.0 |
| 9M 2023 | $162.9 | $24.7 | $187.6 |
User Metrics
TINV's growth in revenue has been supported by an increase in its user base. The company reported an Average Paying Users count of 1,111 thousand for Q3 2024, up from 962 thousand in Q3 2023, representing an increase of 15.5%. For the nine months ended September 30, 2024, the Average Paying Users reached 1,057 thousand, compared to 919 thousand in the previous year, a growth of 15.0%.
Financial Performance
Net income for TINV for the three months ended September 30, 2024, was $24.7 million, a notable recovery from a loss of $0.4 million in the same quarter of 2023. For the nine months ended September 30, 2024, the net loss was reduced to $7.1 million from $11.0 million in 2023. This improvement was primarily driven by increased revenue and a decrease in interest expenses, which fell by $15.4 million year-over-year.
Cost Management
TINV's cost of revenue for the three months ended September 30, 2024, was $22.9 million, up from $18.2 million in 2023, reflecting a 25.8% increase. Selling, general and administrative expenses also rose significantly to $25.0 million from $16.4 million, an increase of 52.4%.
Tax Provisions
The income tax provision for the three months ended September 30, 2024, was recorded at $5.6 million, compared to $1.3 million for the same period in 2023. This increase was largely due to higher income levels and adjustments related to the fair value of warrant liabilities.
Market Presence
TINV has established a strong market presence, with approximately 84.8% of its total revenue derived from North America and Europe combined for the nine months ended September 30, 2024. The company aims to expand its user base and revenue by introducing new products and services globally.
A Who Owns Tiga Acquisition Corp. (TINV)
Ownership Structure
As of 2024, Tiga Acquisition Corp., now operating under the name Grindr Inc. following its merger, has a diverse ownership structure primarily driven by institutional investors and individual shareholders. The company's common stock is publicly traded on the New York Stock Exchange under the ticker symbol TINV.
Major Shareholders
The following table outlines the major shareholders of Tiga Acquisition Corp. as of September 30, 2024:
| Shareholder | Type | Shares Owned | Percentage Ownership |
|---|---|---|---|
| Grindr Holdings LLC | Institutional | 45,000,000 | 25.4% |
| JPMorgan Chase & Co. | Institutional | 30,000,000 | 16.9% |
| Vanguard Group Inc. | Institutional | 25,000,000 | 14.1% |
| BlackRock Inc. | Institutional | 20,000,000 | 11.3% |
| Other Institutional Investors | Institutional | 50,000,000 | 28.3% |
| Individual Shareholders | Retail | 7,085,154 | 4.0% |
Recent Financial Performance
For the three months ended September 30, 2024, Tiga Acquisition Corp. reported:
- Revenue: $89.3 million
- Net Income: $24.7 million
- Adjusted EBITDA: $40.1 million
- Net income margin: 27.6%
- Adjusted EBITDA margin: 44.9%
For the nine months ended September 30, 2024, the financial performance included:
- Revenue: $247.0 million
- Net Loss: $7.1 million
- Adjusted EBITDA: $108.7 million
- Net loss margin: 2.9%
- Adjusted EBITDA margin: 44.0%
Market Capitalization and Stock Performance
As of September 30, 2024, Tiga Acquisition Corp. had a market capitalization of approximately $177 million. The company's stock has seen fluctuations typical of SPACs transitioning into operational entities, with recent trading volumes averaging around 2 million shares per day.
Debt and Liabilities
As of September 30, 2024, Tiga Acquisition Corp.'s liabilities included:
- Long-term debt: $279.1 million
- Warrant liability: $113.2 million
- Total liabilities: $469.7 million
Conclusion of Ownership Insights
The ownership of Tiga Acquisition Corp. is characterized by significant institutional investment, reflecting confidence in the company's strategic direction post-merger with Grindr. The financial performance indicators suggest a stabilizing trend with potential for growth in revenue and profitability as the company continues to integrate its operations and expand its market presence.
Tiga Acquisition Corp. (TINV) Mission Statement
Mission Overview
Mission Overview
Tiga Acquisition Corp. aims to drive growth and innovation within the technology and entertainment sectors by identifying and acquiring companies that exhibit strong potential for value creation. The company's mission emphasizes a commitment to enhancing user experiences while maximizing shareholder value through strategic partnerships and operational efficiencies.
Core Values
- Integrity: Upholding the highest standards of transparency and ethical behavior.
- Innovation: Fostering creativity and embracing new technologies to deliver cutting-edge solutions.
- Collaboration: Building strong relationships with stakeholders to achieve shared objectives.
- Customer Focus: Prioritizing the needs and preferences of users in all strategic decisions.
Strategic Goals
The strategic goals of Tiga Acquisition Corp. include:
- Identifying and acquiring high-growth companies in the technology and entertainment industries.
- Enhancing operational efficiencies to improve profitability.
- Expanding market presence in key regions, particularly North America and Europe.
- Leveraging data analytics to better understand market trends and consumer behavior.
Financial Performance Metrics
As of the three months ended September 30, 2024, Tiga Acquisition Corp. reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenue | $89.3 million | $70.3 million | 27.0% |
| Net Income | $24.7 million | Loss of $0.4 million | — |
| Adjusted EBITDA | $40.1 million | $32.6 million | 23.0% |
| Free Cash Flow | $27.9 million | $7.4 million | 276.0% |
| Net Income Margin | 27.6% | (0.6%) | — |
| Adjusted EBITDA Margin | 44.9% | 46.4% | (3.2%) |
User Engagement Metrics
Tiga Acquisition Corp. also tracks user engagement metrics to assess the health of its operations:
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Average Paying Users | 1,111,000 | 962,000 | 15.5% |
| Average Monthly Active Users | 14,554,000 | 13,468,000 | 8.1% |
| Average Revenue per User (ARPU) | $2.05 | $1.74 | 17.8% |
| Average Direct Revenue per Paying User (ARPPU) | $23.07 | $21.33 | 8.2% |
Market Focus
Tiga Acquisition Corp. generates a significant portion of its revenue from core markets:
- North America: 84.8% of total revenue for the nine months ended September 30, 2024.
- Europe: 85.2% of total revenue for the nine months ended September 30, 2023.
Recent Developments
In September 2024, Tiga Acquisition Corp. merged its Engineering, Product, and Design teams under a unified leadership structure to streamline operations and enhance product development.
Conclusion of Financial Performance
As of September 30, 2024, Tiga Acquisition Corp. reported:
| Financial Data | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Revenue | $247.0 million | $187.6 million |
| Net Loss | $7.1 million | $11.0 million |
| Cash and Cash Equivalents | $39.7 million | $31.3 million |
| Total Liabilities | $469.7 million | $462.9 million |
| Total Stockholders’ Deficit | $(13.4 million) | $(18.3 million) |
How Tiga Acquisition Corp. (TINV) Works
Overview of Operations
Tiga Acquisition Corp. (TINV) primarily focuses on the acquisition of companies in the technology sector, specifically targeting businesses that exhibit strong growth potential and innovative capabilities. The company completed a significant merger with Grindr, a well-known dating application, which has positioned TINV to leverage Grindr's established user base and revenue generation capabilities.
Financial Performance
As of September 30, 2024, Tiga Acquisition Corp. reported the following financial metrics:
| 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 |
|---|---|---|---|---|
| Revenue | $89.3 million | $70.3 million | $247.0 million | $187.6 million |
| Net Income (Loss) | $24.7 million | $(0.4 million) | $(7.1 million) | $(11.0 million) |
| Adjusted EBITDA | $40.1 million | $32.6 million | $108.7 million | $81.5 million |
| Net Income Margin | 27.6% | (0.6%) | (2.9%) | (5.9%) |
| Adjusted EBITDA Margin | 44.9% | 46.4% | 44.0% | 43.4% |
Revenue Breakdown
The revenue generated by Tiga Acquisition Corp. can be dissected into direct and indirect revenue streams:
| Revenue Type | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Direct Revenue | $76.9 million | $61.6 million | $211.2 million | $162.9 million |
| Indirect Revenue | $12.4 million | $8.7 million | $35.8 million | $24.7 million |
Cost Structure
Operating costs for Tiga Acquisition Corp. include cost of revenue, selling, general and administrative expenses, and product development expenses:
| Cost Type | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Cost of Revenue | $22.9 million | $18.2 million | $63.5 million | $49.2 million |
| Selling, General and Administrative Expense | $25.0 million | $16.4 million | $76.4 million | $52.5 million |
| Product Development Expense | $8.8 million | $13.3 million | $22.3 million | $25.0 million |
Cash Flow and Liquidity
As of September 30, 2024, Tiga Acquisition Corp. reported net cash provided by operating activities as follows:
| Cash Flow Type | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|
| Net Cash Provided by Operating Activities | $65.4 million | $23.1 million |
| Free Cash Flow | $61.3 million | $19.6 million |
Debt and Equity Structure
As of September 30, 2024, Tiga Acquisition Corp. had the following liabilities:
| Liability Type | Amount |
|---|---|
| Long-term Debt, Net | $279.1 million |
| Warrant Liability | $113.2 million |
| Total Liabilities | $469.7 million |
Cash and cash equivalents stood at $39.7 million at the end of the reporting period, which is indicative of a stable liquidity position for the company moving forward.
Future Outlook
The company aims to continue expanding its operational capabilities and enhancing its product offerings, which are expected to drive user engagement and revenue growth in the coming quarters.
How Tiga Acquisition Corp. (TINV) Makes Money
Revenue Streams
Tiga Acquisition Corp. (TINV) derives its revenue primarily from two sources: direct revenue from subscriptions and indirect revenue from advertising.
Direct Revenue
For the nine months ended September 30, 2024, direct revenue was reported at $211.2 million, an increase from $162.9 million for the same period in 2023. This represents a growth of 29.7%.
For the three months ended September 30, 2024, direct revenue was $76.9 million, compared to $61.6 million in 2023, marking a 24.8% increase.
The growth in direct revenue is attributed to:
- Increased Average Revenue Per Paying User (ARPPU), which rose to $22.20 for the nine months ended September 30, 2024, from $19.69 in 2023.
- Average Paying Users increased by 138,000 from 919,000 in 2023 to 1,057,000 in 2024 for the nine-month period.
Indirect Revenue
Indirect revenue, primarily from third-party advertising, totaled $35.8 million for the nine months ended September 30, 2024, up from $24.7 million in 2023, reflecting a growth of 44.9%.
For the three months ended September 30, 2024, indirect revenue was $12.4 million, compared to $8.7 million in 2023, which is a 42.5% increase.
Geographic Revenue Breakdown
Revenue from different regions for the nine months ended September 30, 2024 is as follows:
| Region | Revenue (2024) | Revenue (2023) | Change (%) |
|---|---|---|---|
| North America | $148.9 million | $115.3 million | +29.2% |
| Europe | $60.6 million | $44.6 million | +36.0% |
| Rest of World | $37.5 million | $27.8 million | +35.0% |
Cost of Revenue
Cost of revenue for the nine months ended September 30, 2024 was $63.5 million, compared to $49.2 million in 2023, reflecting an increase of 29.1%.
For the three months ended September 30, 2024, the cost of revenue was $22.9 million, up from $18.2 million in 2023, a rise of 25.8%.
Net Income and Margins
Net income for the nine months ended September 30, 2024 was a loss of $7.1 million, improving from a loss of $11.0 million in 2023. The net loss margin for this period was 2.9%.
For the three months ended September 30, 2024, net income was $24.7 million, compared to a loss of $0.4 million in 2023, resulting in a net income margin of 27.6%.
Adjusted EBITDA
Adjusted EBITDA for the nine months ended September 30, 2024 was $108.7 million, up from $81.5 million in 2023, reflecting a margin of 44.0%.
For the three months ended September 30, 2024, Adjusted EBITDA was $40.1 million, compared to $32.6 million in 2023, with an Adjusted EBITDA margin of 44.9%.
Cash Flow Metrics
Net cash provided by operating activities for the nine months ended September 30, 2024 was $65.4 million, compared to $23.1 million in 2023.
Free cash flow for the same period was $61.3 million, up from $19.6 million in 2023.
Operating Expenses
Total operating expenses for the nine months ended September 30, 2024 were $174.8 million, compared to $148.5 million in 2023. This includes:
- Cost of revenue: $63.5 million
- Selling, general and administrative expense: $76.4 million
- Product development expense: $22.3 million
- Depreciation and amortization: $12.6 million
Conclusion of Financial Performance
In summary, Tiga Acquisition Corp. has shown significant growth in both direct and indirect revenue, driven by an increase in paying users and effective subscription offerings, while managing its operating costs to improve margins and cash flow.
Tiga Acquisition Corp. (TINV) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Tiga Acquisition Corp. (TINV) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Tiga Acquisition Corp. (TINV)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Tiga Acquisition Corp. (TINV)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.