Grindr Inc. Q4 FY2024 earnings call

• 2024 was a landmark year with revenue growing 33% to $345 million and adjusted EBITDA margin at 43%, exceeding initial guidance. - User engagement was strong in 2024 with over 130 billion chats, 2 billion shared albums, and an average of over 70 minutes per day on the app. - In 2025, they released a first annual product roadmap, redeemed warrants, and announced a $500 million share repurchase program. - Key priorities for 2025 include rapidly shipping products, strengthening the global brand, expanding the Gayborhood in health and wellness (test beta launch coming), and increasing talent density.

In 2024, Grindr achieved full year revenue of $345 million, a 33% year-over-year growth. The advertising business grew 56% year-over-year. For the fourth quarter, revenue was $98 million, with direct revenue at $80 million (up 28% year-over-year) and indirect revenue at $18 million (up 85% year-over-year). The adjusted EBITDA margin was 43% for the full year. Average monthly active users were 14.2 million (+7% y-o-y), average paying users were 1.1 million (+15% y-o-y) with payer penetration at 7.6%, and average direct revenue per paying user was $22.53 (+12% y-o-y).

• 2025 initial guidance calls for revenue growth of greater than 24% and an adjusted EBITDA margin of 41% or greater. - The guidance reflects confidence in continued strong growth and profitability, building on a robust product roadmap. - They expect revenue growth to flow directly to the bottom line with new features driving monetization.

Q: Andrew Marok asked about surprise factors in the product roadmap and balancing share repurchase with private share holdings.

A: George Arison stated productivity has increased with 3x more check-ins in GitHub per engineer from 2022 to 2024, and mentioned the float has doubled since going public.

Q: John Blackledge inquired about revenue mix and 1Q trends.

A: Vanna Krantz said they guide based on line of sight, expect payer growth and ARPU to continue with international and domestic levers moving nicely, and are guiding to 24% or higher revenue growth and 41% or higher EBITDA margin.

Q: Eric Sheridan asked about innovation signals and ad tech status.

A: George Arison talked about high product shipping speed and Vanna Krantz noted ad tech still has room for advancement with significant potential.

Q: Unidentified Analyst asked about user usage examples and efficiency management.

A: George Arison discussed user survey data on relationship and child-bearing desires, and plans to add managers to improve talent density while maintaining high efficiency.