By
Tolu Ajiboye
February 23rd, 2023
Comparing Bumble 2021 Q4 with reports of the previous year, there was an increased revenue of $208.2 million against $165.6 million.
Online dating app Bumble Inc (NASDAQ: BMBL) published its 2021 Q4 and full-year financial report on March 8th. Alongside the Q4 reports, Bumble also announced that it is halting business and removing all its Apps from the App Store and Google Play Store in Russia and Belarus. Bumble Inc. is the parent company to some of the world’s highest-grossing dating apps with millions of users worldwide, such as Bumble, Fruitz, and Badoo.
Put together, the users in Russia, Ukraine, and Belarus made up 2.8% of Bumble Inc.’s annual revenue in 2021. Terminating business in these countries will result in an expected $20 million revenue loss in 2022.
Bumble 2021 Q4 and Full Year Performance
The Q4 report Bumble released for 2021 indicates a successful financial year dominated by its App. Compared to the previous year, the Bumble App made up 42% of revenue year over year and added 108,000 users in the quarter.
Comparing Bumble 2021 Q4 with reports of the previous year, there was an increased revenue of $208.2 million against $165.6 million. The Bumble App revenue increased to $150.5 million, a 42.2% jump compared to the $105.8 million recorded in 2020 Q4. Also, the total average revenue per paying user (ARPPU) was $22.83, while the total number of paying users increased from 2.7 million to 3.0 million, about 10% higher. Adjusted EBITDA was reported to be $54.8 million, and the net loss came in at $14.7 million.
According to IBES data by Refinitiv, Bumble earned 13 cents per share for the Q4, excluding items. Analysts, on average, had predicted the company to make a gross profit on a per-share basis.
Bumble’s Full Year 2021 Report
In the full financial year report, Bumble Inc highlighted $765.7 million revenue, a profit of $0.56 million against a revenue of $542.2 million from January 29th to December 31st, and $40.0 million from January 1st to 28th of the previous year.
Bumble App made $532.9 million in revenue against $337.2 from the previous year. Badoo App and Other revenue made $232.8 million, increasing 15.5% to 2.9 million in total paying users. Total ARPPU was $21.68 compared to $18.89.
Notably, there were net earnings (loss) of $286.9 million, which is 37.5% of revenue, and an operating loss of $4.59 million, down 78% year-over-year.
At pre-market trading, Bumble stock is currently up 23.35% to $20.55. Fingers are crossed if the company will see gains after months of consistent losses. Over the past year, BMBL has lost 73.52%, dropping further by over 50% in its year-to-date record.
The corporation is constantly growing its presence in the international market with over 800 staff working across its key offices. Its major offices are in Austin, London, Barcelona, Paris, and Moscow. Fruitz is Bumble’s first acquisition as its attempts intensify its stand in Europe, where its competitor Match Group’s (NASDAQ: MTCH) Tinder currently dominates.
