Whitney Wolfe Herd speaks onstage in Dana Point, California.
Joe Scarnici | Getty Images Entertainment
Bumble on Wednesday logged $165.6 million in revenue, topping Wall Street forecasts for its first quarterly report since going public in February. The stock rose 6% after the bell.
Here’s what the company reported for its fourth quarter, compared with what Wall Street analysts polled by Refinitiv were expecting:
- Loss per share: 1 cent
- Revenue: $165.6 million vs. expected revenue of $163.3 million.
Wall Street was looking for a quarterly loss of 13 cents per share. CNBC does not compare reported earnings per to share to expectations for a firm’s first report as a public company as uncertain share counts can skew forecasts.
Bumble reported a net loss of $26.1 million.
For the first quarter of 2021, Bumble expects revenue of $163 million to $165 million.
Bumble went public in February with an initial public offering of $2.2 billion, staking a claim in the online dating market alongside industry leader Match Group, which operates popular dating apps Tinder and Hinge.
Bumble operates its namesake app primarily in the U.S., U.K., Australia and Canada and a similar offering, Badoo, primarily in Europe and Latin America.
Bumble’s unique pitch for its flagship app is simple: In heterosexual matches, only women can message first after mutually expressing interest, and men must reply within 24 hours. In homosexual matches, either party can message first.
As of September 2020, the company boasted 42.1 million monthly active users: The Bumble app counted 12.3 million monthly active users and about 1.1 million paying users, and the Badoo app counted 28.4 million monthly active users and roughly 1.3 million paying users.
Dating apps have seen a surge in usage as Covid-19 lockdowns kept singles at home and online. Bumble reported a 26% increase in the number of messages sent on its platform during March 2020, a company spokesperson told CNBC in May.
The company has said it plans to expand into Latin America and Asia, with particular promise in India.
Bumble also hopes to expand existing, secondary offerings that match users with potential friends, through Bumble BFF, and with potential professional connections, through Bumble Bizz.
—CNBC’s MacKenzie Sigalos contributed to this report.
This is breaking news. Please check back for updates.
