Newly public Bumble, Inc. (BMBL) – Get Report reported higher-than-expected revenue for its fiscal fourth quarter and offered an upbeat revenue forecast for the full year.
The dating app operator posted a net loss of $26.1 million, on revenue of $165.6 million. Analysts had been expecting a loss of $17 million on sales of $163.3 million, based on a FactSet survey of nine analysts. Bumble didn’t break out its financial results on a per-share basis.
Bumble said paying customers rose 32.5% from the same period a year earlier.
“Our significant increase in revenue and paying users is a direct result of our team’s dedication and remarkable agility during a challenging pandemic,” said Whitney Wolfe Herd, CEO of Bumble, in a statement. “Looking ahead, we remain focused on driving scale, investing in our users and expanding internationally. Our IPO was a pivotal milestone, but we are just getting started.”
The company came public in February just before Valentine’s Day, raising $2.15 billion in its hotly anticipated IPO. Bumble seeks to differentiate itself in the crowded dating app field, by giving women more control over the process.
At the time of the IPO, TheStreet’s Jim Cramer said Bumble was worth consideration as a growth stock for younger investors.
Bumble forecasted first-quarter revenue in the range of $163 to $165 million and adjusted EBITDA in the range of $41 to $42 million.
For the full year, it forecasted revenue in the range of $716 to $726 million and adjusted EBITDA in the range of $173 to $178 million.
For the year, analysts are projecting revenue of $579.9 million, according to FactSet data.
Shares of Bumble rose $2.51, or 4%, to $65.64 in after-hours trading Wednesday. The stock fell 0.6% in the regular session.