Shares jumped late in trading on Tuesday after the online dating company reported fourth quarter results.
The company also said it was ceasing operations in Russia, removing its apps from the
App Store and Google Play Store in Russia and Belarus.
For the fourth quarter, Bumble (ticker: BMBL) posted a net loss of 8 cents per share on revenue of $208.2 million. Analysts polled by FactSet had expected a net loss of 2 cents per share and revenue of $209.6 million. Total paid users increased 10.6% from a year ago to 3 million, while total average revenue per paid user increased $2.81 to $22.83 . Adjusted earnings before interest, taxes, depreciation and amortization was $54.8 million.
Bumble shares rose 20% after hours trading. The stock’s reaction might look like a relief rally. Heading into the earnings report, Bumble shares had fallen 74% in the past 12 months.
The company said revenue from Russia, Ukraine and Belarus accounted for about 2.8% of Bumble’s revenue in 2021, which came primarily from its Badoo App and Other revenue segment, which reached 57. $7 million in revenue in the quarter, compared to $59.8 million in the same period. a quarter of a year ago. Bumble App revenue jumped 42.2% to $150.5 million.
“In our first year as a public company, and with our mission at the forefront of everything we do, we successfully executed on our key strategic priorities: drive scale and engagement, increase monetization and improve profitability,” CEO Whitney Wolfe Herd said in the company’s earnings release.
For the first quarter, the company expects revenue between $207 million and $210 million. This assumes a loss of revenue of approximately $2 million due to the conflict in Ukraine and the company’s decision to withdraw its app from Russia and Belarus.
For the full fiscal year, the company expects revenue of between $934 million and $944 million. Consensus analyst expectations were $939.1 million, according to FactSet.
Write to Connor Smith at [email protected]