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Highlights
- Q4 Revenue Decline: Total revenue down 4.4% to $261.6 million.
- Bumble App Performance: Revenue fell 3.8% to $212.4 million.
- Badoo and Other Revenue: Decreased 6.8% to $49.3 million.
- Paying Users Growth: Increased 5.3% to 4.2 million.
- ARPPU Drop: Declined to $20.58 from $22.64.
- Full Year Revenue Increase: Up 1.9% to $1.07 billion.
- Full Year Paying Users Growth: Up 11.5% to 4.1 million.
- Operating Loss: $700.5 million due to non-cash impairment charges.
Bumble Inc. (NASDAQ:BMBL) has reported its financial results for the fourth quarter and full year ending December 31, 2024, showing a mix of positive and challenging trends. While the company achieved user growth, revenue faced pressure, particularly in the last quarter.
Q4 2024 Performance: Declining Revenue but Higher User Engagement
Bumble’s total revenue for Q4 2024 fell by 4.4% to $261.6 million, down from $273.6 million in Q4 2023. This decline was partially impacted by a $2.7 million unfavorable foreign currency movement.
The company’s flagship Bumble App saw a 3.8% revenue decline, generating $212.4 million compared to $220.7 million last year. Meanwhile, Badoo and other revenue streams dropped 6.8% to $49.3 million.
Despite the revenue slump, total paying users increased by 5.3% to 4.2 million, demonstrating user retention and acquisition efforts. However, Average Revenue Per Paying User (ARPPU) declined to $20.58, compared to $22.64 a year ago, indicating a possible shift towards lower-priced subscription plans.
Full Year 2024: Modest Revenue Growth but Large Operating Loss
For the full year, Bumble reported a 1.9% revenue increase, reaching $1.07 billion compared to $1.05 billion in 2023. While Bumble App revenue grew by 2.5%, reaching $866.3 million, revenue from Badoo and other segments saw a slight 0.8% decline to $205.4 million.
The company’s total paying user base surged by 11.5% to 4.1 million, underscoring Bumble’s success in growing its subscriber base. However, ARPPU continued its downward trend, averaging $21.23, compared to $23.03 in 2023.
One of the most significant financial developments was a substantial operating loss of $700.5 million, driven primarily by $892.2 million in non-cash impairment charges. This contrasts sharply with the previous year’s $53.4 million operating earnings.
Profitability Metrics: Adjusted EBITDA Remains Positive
Despite revenue pressures and a high operating loss, Adjusted EBITDA for Q4 remained stable at $72.5 million, representing 27.7% of revenue, compared to $73.7 million (26.9%) in Q4 2023. Similarly, for the full year, Adjusted EBITDA increased to $304.1 million (28.4% of revenue), up from $275.6 million (26.2%) in 2023.
