Bumble (BMBL) 10 Nov 222022 Q3 Earnings call transcript

Good day and thank you for standing by. Welcome to the Bumble's Third Quarter 2022 Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Cherryl Valenzuela, Vice President of Investor Relations. Please go ahead.

thank quarter for financial and discuss us operator third Bumble's results. you, you joining all to Thank With me of today CEO; Tariq are Whitney Wolfe President; Anu Herd, and Subramanian, CFO Bumble. Shaukat, Founder and

assumptions to to our Before we on call on current risks are expectations are today and everyone us. statements beliefs, certain statements. forward-looking to statements based this These remind and forward-looking subject begin, available made that uncertainties information like currently I'd various and our reflect

filings are reasonable, Form any actual expectations forward-looking annual discussed from statements other with subsequent undertake no changes Although for in occur revise XX-K in these we could call. results SEC, are our and filings. including our year XXXX report we obligation to and materially these detail XX, statements our ended release that periodic cause believe differ risks December that on these factors reflect to to more the Descriptions the after this and of earnings press

the measures is comparable ir.bumble.com. Relations are today's most release that, in I'll not During be to Reconciliations which our refer with And addition GAAP results. the of our press financial non-GAAP to for over available Whitney. earnings Investor the in at considered measures on certain and available These GAAP to section non-GAAP a in website measures. isolation should substitute to or from turn we as call, also it

all thank Cherryl you, us you and joining Thank today. for

for higher. in FX and outlook. focus on delivering million How exceeding in to for growth both for that need love but quarter, a a well points QX lead restating new In and cash user users. higher XX surpassing sequential the $XX want XX% the driven both record global and App scale. consecutive with at and a expansion we I top as of X deliver App. global brands universal the revenue growth growth share apps and Inc. Monetization flow revenue growth to operating record Western to to App net have quarter profitability, Our propel we international our XX% and line third our increases strength third been EBITDA QX, Ukraine the points while also adjusted would challenging this We continued fundamental business its of accelerated would we bundle amidst solid paying growth results strong positioned in demonstrate expectations evolves America. across of continued resilience markets need. and Adjusted Latin by was Bumble by in expansion are growth year-over-year, our International deliver for been core Bumble and and have reengaged Asia strong download XXX,XXX complex, the members users a human is environment. quarter, users for Bumble gaining fourth both delivered our our momentum adds. Pacific and for strong maintained Europe, payers Bumble

against environment. and revenue these macroeconomic the and FX of achieved for of achieved geopolitical in the uncertain adjusting have Ukraine. made we Our in the Sequential adds for and for net progress QX to and since increased new strategy time structure to are management starting stabilizing the we conflict very We after positive XXXX Badoo impact and a results growth deliver backdrop do. first

also impact for quarter headwinds of FX QX. these shy in are which X will drove factors our just There previous expectations. strong, revenue While that this adjusted came results third our are

context more provide me let for each. Now

page. some launches QX, and core we in First, to encountered user engagement on our issues product design related new profile

That's before complements. these including the monetized made match feature. we launches, result, a delay As to our message decision

live XXXX. rollout plan. early Notably, the anticipate progressing and in and New X Australia, U.S. the to is now Canada We We parts York throughout Germany, XX rolling started features monetized have and completing issues behind the England. and and New out into these our weeks U.S., to have complement of addressed QX markets including fully remaining

also in the and markets. environment late our increasingly were QX. our macroeconomic are international User markets in engagement by and impacted results QX growth strong core and challenging new Our both expansion user

Importantly, we no subscriptions. new have impact seen on

However, disposable subscriptions lower facing these are some renewing of on modestly and are their our pressure rate. a user greater segments at income segments

of other year-over-year. our merchandising and approach alternatives net sequential in QX, adjusting to revenue Paying to $XXX,XXX. $XXX and App in growth marketing user dating modifying our the retention our actively business that value remains payer strategies. QX, are to to highlight ensure we Bumble these strong. We grew million remained adds with accelerating items, comparative our XX% offerings Notwithstanding up strong

our We app critical of X strong year. foundation for bundle Western significantly gap since our even the Belgium that growth grow player In user and see continues our Net with international segment early the faster in region favorability consoles, Switzerland, Netherlands. we strength strength Europe, XX- Gen a in MAU download the for Germany, most both recent Scores and revenue net launch to regions a saw seen unique is Fran, be delivered major app. have they expansion the and growth our the We International our the growth performance registrations, expansion dating growth core to the U.S., we performance the have markets and track to in Austria. the speaks This to gained the and share growth Promoter are the user which brand and growth. U.K. markets. our gains share with to significant is driver U.S. in Z research in to Spain all XX number July. revenue robust closing dating international warning continue highest XX-year-old all brand to in download we has share is the group brands and we in According number and and that X in across the core Bumble XX year-over-year the we and Australia. and with in Notably, continuing major both remained strong of Canada,

are notable we expansion India performing brand and India expand actively again, well. more revenue highlight Between Asia and America Latin will to doubled the and the than our end of year-over-year, of on build a XXXX, product. remains to appeal continue demonstrating and proven now in global broad Our our playbook internationally.

in each to expect launches in our We launched major our complete presence continue to our to and deepen Europe markets. of recently critically

audience. launch our of our a are Asia continue are to serving recent We expect an focus. to expect heritage for been the continue noted, key building has for want offerings graduate for this us, [indiscernible] Outside XX- launched experience the college we drove experiences out women, student-only America. was and engagement improved cultural product focusing for also the communities users on which launched addition, We've products Bumble on with platform. Tuesday rolling experiences strong QX We celebrate to for developing in and XX-year Latin active on of experience improved and students. particular, rollout we we we LGBTQIA+ a verified period been in that very range audiences and improved old to our college wide who already In their

English-speaking launch world, launched with functionality Lasso, Emmy QX, results. offering speed Live of in in our utilize Banter users the the the Our feature to introduced by dating fictitious partnership our on to markets. Ted remainder in engage life, In award-winning grow also first Bumble, around who core fun we monetization initial on an year. app show late creating the the Live select dating each to we are comedy our and way are Banter with bumble the through feature product and bringing college further innovative with place Thursdays the we takes August pleased and week cities

results pleased the model new product we're the participation initial engagement represents. we've that seen and excited with We that this are by

forward Now looking we pace XXXX, rapid of our to continue expect development. to product

enhancing as Friend and include new build college continuing such platforms will features, recently-launched the and and our recommender that leaning the focus feature at end. launched, experience high building on product into platforms both to and social the end dating low monetization crowd recent speed complements we've out Our

Now includes including and points combined and million Ukraine. negative and revenue $XX conflict down the FX on from XX% impact other other year-on-year fruit. products, XX turning in QX, in of a That basis. to Badoo Badoo totaled reported

paying experience and someone progress performance. Badoo's sequential made stabilizing the have to by at The consumable Badoo new driven economically user. in was product talk X-day towards users increase a aimed more We an conversion enhanced sensitive including for payer improvement, driving

and approach. releases quarters, will with product several marketing disciplined on next a additional the Over continued these build successes we

acquiring me same next its platform Netherlands working and for the and better capability XXXX. in Adoption expertise broader safety January, leveraging grow actively the amount that of we our Let we quickly we time, in turn to fruit. and on have we've At strategy team. France, Since our to continues Gen a integrated are parts been Belgium, company significant Canada expansion QX, to international as fruit the bringing a learning monetization Z. of are to serve throughout

serve Finally, creating I kind of our to initiatives powerful to that a our as of couple and safety like commitment reflections would mission spotlight connections.

a mark is for large. trust I in also upon of will private to shaping proud and that turn of global images sending the illegal, recently, open machine U.K. industry am the over social it lude user legislation our Texas, teams the you detector better of First, Thank outlook. similar bring flashing to that now at our building to model financials unwanted California a bill so industry safety discussion looking learning our our so and More championed we cyber much. signed I'm improved how media more. I in forward to we for September Anu and Virginia the source makes and

the by quarter drove app the than million marking Revenue X headwind X%. expected. to headwind sequential consecutive adds. in and factors, our was we've users people $X for quarter $XXX $X.X was FX users growth percentage trends App. group international increase number in FX I'll of successful Thank with paying Unless million, and our net negatively million users outlook Bumble by points. including On guidance. impacted FX in afternoon, basis, the while by points. the reengagement previously high QX to a impacts, full X% quarter from XX% user which $XX and increased by growth was grew discussion conversions. FX App fourth due the headwinds expected In I top from versus everyone. that year-over-year line, million $XX.XX, Bumble before a in begin was results to you, and comparisons third year. our active was At than was aggregate, partially ARPPU more optimization up million, strong added users Whitney offset which paid driven million had of XX% of our Bumble was X% XX million. of headwind by good Bumble Inc. rates, and conflict App's to our level, to a was quarter $X to a worse The stated turning growth QX a growth the XX% to and paying otherwise, had rate driven third million. Bumble make growth initiatives. XXX,XXX enhancements XXXX impacted will a Total sequentially, increased primarily paying Ukraine we product revenue $X year-over-year FX expansion the a at growth mix we pricing we XXXX. driven percentage time and growth primarily increased QX $XXX strong in revenue XX%, growth country driven of refer down $X.X paying by negatively revenue by third by

pricing had on $XX Ukraine QX points. headwind and headwinds, in to the ARPPU grew rates XX% and App $XX conflict $XX.XX revenue was moving to optimization other digits revenue to users to mix, negatively sequentially App million. offset Badoo other to by X% and app partially FX declined year-over-year. other percentage a XX double impacted Now FX declined million than other million million paying we worse Badoo Badoo Absent other. $X.X and headwind work. year-over-year which and by XX% grew year-over-year declined Badoo Badoo country by $X due year-over-year represented App but FX growth expected. and these and $XXX,XXX.

other and Badoo As reminder, Fruitz App paying users users. and but from we Fruitz Badoo paying exclude a currently include within revenue App other revenue

expenses. to now Turning

for grew Cost as were noncash our and up focused were by Total year-over-year. continue the have geopolitical current profitably, XX%. XX% store grown. and revenue especially of note million We primarily million non-GAAP onetime light driven remain non-GAAP higher the our other revenues year-over-year. excluding managing very a or was $XX of items, fees GAAP on following: down to costs basis, app X% the total macroeconomic On and operating operating was I'd The expenses environment. in $XXX stock-based million, and comp quarter, $XXX expenses increase business

million free were was $XX revenue, revenue, represented revenue a $XX and adjusted flat net year net million earnings cost of of period. quarter. expenses to million, were last of versus million XX% year year Product margin. a of period. XX% expenses marketing this of revenue, in the XX%, or was flow year-over-year XX% XX% As compared million million EBITDA or $XX ago year. of expenses loss And grew $XX QX of million. versus GAAP Sales period. We $XX of $XX percentage $XX to ago X% million development the XX% or flat cash revenue revenue G&A year-over-year a the the compared flat up period. were and ago year to versus This $XX generated XX% QX ago represents

and of total a strong QX have We cash million. $XXX ended position with cash

We with discipline strong maintain uses continue regards cash. to of financial potential to

Now moving to on outlook. our

expect growth of rate Total XX% QX. $XXX to between following We revenue million and year-over-year. representing for million, $XXX a XX% the

million million Our of estimated. year-over-year had we FX more assumes headwinds, previously than $X outlook $XX

of also $X outlook year-over-year Badoo. in related Our Ukraine, million assumes primarily the to conflict in approximately headwinds

total Excluding have the been outlook and conflict, XX% FX would Ukraine XX% revenue the impact our of to year-over-year. growth

FX App XX% $X negative million of million, between revenue a revenue $XXX from million, more Bumble assumes growth and expect approximately The we be originally. We $X to a of anticipated $XXX XX% impact outlook than million rate to year-over-year. had representing

our XX% $XX at headwinds, be XX% and the XX% will be midpoint to FX Bumble growth range. guidance million, for the revenue We adjusted estimate $XX would Excluding EBITDA of year-over-year. million representing between

X Our based considerations. are QX expectations on

our FX expect apps. all be continue to headwind to we across First, a

macro and issues to strong a other, total growth expect the QX On headwinds weigh with delay XX% for we Second, will and And we season. FX conflict, guidance user macro while revenue App to this is Bumble demonstrate advertising on continued continuing rate results. of the year and holiday along lastly, assumes have XXXX expect would and This lower Ukraine for FX XX% demand million Badoo excluding engagement, year-over-year. product on full revenue of impact basis, $XX year-over-year. been our of year-over-year total growth XX% pressure

negative The FX to App outlook from revenue of revenue to $XX Bumble We be rate expect growth million. XX% XX% year-over-year. a assumes impact

between XX% our for be revenue headwinds, million, would million XX% bumble estimate guidance at of and adjusted XX% representing range. to FX We Excluding growth the year-over-year. EBITDA $XXX margin the midpoint will $XXX be

given We are uncertainty, share to our typically for while cycle. our earnings full provide call, full XXXX currently planning year in guidance we the on preliminary And middle annual macro wanted some QX year today. expectations we of

next XXX high we at product year. continues mid- environment revenue While will our on rates. grow expect basis efforts, to headwinds for and the operating visibility growth XXs used Adjusted road expect on on basis that our teens high between year-over-year Inc. evolve, to expansion total has will market This revenue to year. company low based our current current teens Bumble points that, we be next FX a of map

while closing, are continuing expanding basis on adjusted in margins laser-focused to by we This we priorities. achieved as full remain on We XXXX execution. ensuring least on our to also focused in as by be committed year growth will EBITDA spend a that XXX basis. at balanced ever invest In points remain

operator, on open sustainable this our for best-in-class for without our we with We shareholders. that, Q&A. it profitable for and And goals up continue can our do we will experiences and will of users delivering sacrificing growth

Andrew question Marok from comes first [Operator James. Raymond with Instructions] our

talk for about or what involved? assumptions into from wanted preliminary into outlook contribution bit for little that? macro any baked guess I are the a I to based 'XX. -- any properties? outlook are is that there And in worsening baked non-dating consistent A

can Yes, that. take sure. I

wanted to for planning prepared remarks, much my in stages still that said are I next our year. we in like again, I So very mention

larger so our XXXX. we like uncertainties, working everyone to actively given again, estimate on on best based look again macro the just I XXXX wanted And will But said, teams guess are around a what the like. preliminary provide

to So headwinds. in points adjusted teens of the like I high said, for our range low X is FX currently about XXs

of will our paying both obviously, guidance. but provide that we to are looking here again, We year. and these not reasonable that that next that primarily we driver was share core drive come what state when QX. numbers largely in from back in We've users But growth we've current business we be also of is our have we'll And we've the the on are growth historical in continues will perspective, look From high-level we to our vectors data provide we we between based assuming something assumed of so high-level will back expansion. assumed specific levers more maps made the we now into goal revenue this geographies about to a very saw we still what degradation international a will expect for QX again, road like seeing. Bumble when growth are continue detail what being be obviously drivers closely contribution. macro made provide across when XXXX material Again, assumptions be No, App the and to to to come and similar assumptions come built terms any And the market at growth terms back. are in we still markets. the we've across around product But some have different some -- XXXX.

campus, I environment, back you remarks. bit But on type of a type philosophy in know this this through In lower-cost position? could. or need I environment, if spend Or in will marketing marketing your like anything on there that? more, outlook channel any pull like is to prepared to of defend about can you channels, one you it little your And I spend? toward marketing talked in guess differences your shifts your influencer Great.

take This Tariq. I'll is that. Sure.

always favorability for base and a off paid our the on So stats the that lot spend, Whitney our always side approach marketing had brand in some of marketing it's said we been just spend. built love we've we A marketing have marketing and performance not on centric the that the very for the disciplined our about even success of of ROI the very brand see is and our brands. brand

So other Bumble, of to you'll started have of first our up comparative might value platforms Bumble our some success the messaging What tougher anything at that to and and drinks several that the dialing the about about current the to really big are able first the users could sure it mentioned the the celebrating haven't which our of adjusting things moment is state have a of change of messaging weeks as bars and doing conditions the first do. cost seen QX lot our that merchandising to of from got or we the compared is to that. are like state marketing ways a we users per platform. to believe, on recall standpoint a we channel being one working on really is in of we're we the messaging in approach that context is you cost the of that need se one in make best QX, find A environment. to speak our Whitney

to So seeing we're And be yes spend. I in around change as you'll and don't substantial see think any going more well. that messaging

your I answering about assumptions non-dating business. any non-dating wanted And our Yes. question major just revenue from I our clarify, contributions don't I include businesses, missed to XXXX think

next contributions strategies revenue to Our not for our year. in But from any baking business that. test right goal are is non-dating now, we monetization big

Our next Mark Kelley comes question Stifel. from with

QX for XX-week just how next more that given and your margin high-level beyond, a Great. And would the maybe that any any and to outset X- outlook maybe then thoughts Maybe impacts then this expectations you you're But into at I way app you how quantify highlighted a you point. into if there's you prepared delay QX be year store taking at estimates to love not was wondering thoughts great. next for on think it your that there fees of remarks. the just impacted would year? gave, just the bit improvement

start Sure. over. question margin it I with I'll and Why don't the then hand Yes.

You're the store right, assumed relief coming in, any on app in haven't we fees, XXXX.

state XXX that. what current assume EBITDA basis to of of we'll So coming now, points will terms any But changes year this we've doesn't next resumed in in right expansion have bring front. of our Obviously, largely affairs. additional benefit out see

of if delays, robust of that We live. in was as is is paid launch you in delayed handful that of it was products our get will, some implications. mentioned we notable product very had our now And that it, a terms the products. Most did the of had QX. flow, There a monetization version complements, product and complements

not it of the features. delays providing but them between and macro even So X- the We're QX on breakdown really take, in give those are or XX-week product that roughly is calculus. specific a delay to number

Cory Our comes next JPMorgan. question Carpenter with from

more Maybe the For X the product delays. on question.

that in are then what your monetization the you also are the to the you growth what to bundle on helpful. And did see on And exactly bundles side? Just ARPU, be you the expectations led provide the a then college payer in expand Tara, for just terms hoping expectations testing XQ delay. could bit you what color on hoping your Any expand of new, on complements issues would in guide. could what were versus and out with

Great.

experience. details will, the -- into this who and number quarter largely But single a profile right? It of a top that but -- core It's it's the to So question, we integrated if single going experience complements experience. there's web. be you too the so features uses much I'm like do to homepage of built product. -- essentially, to launching our of the products to and going try on required that we the home like have serve Cory, without a that into the answer app the of everybody page, is And on for personalization were It's number the a of apps, solve that. profile

rolled primarily power started user experience there segment and that the interact behavior an we standpoint, and of elements was from frequently it As testing, decided unexpected segment, on for with see were causing in such that we and user some to design into and area. that sensitive kind to impacts most some sure some segment such of some a that important the a pause, of in make hit design mechanics We us it underneath we really hood. tweak the understood app the

an page on it complement -- for sits example, that that but how with get we speaking talking right. exactly good for So how broadly you that that, it. power where to about. good were were are interact it not like specific There exactly segments wanted And elements like as the segment user we

we've users. said, recently bar to into markets, our adoption. a have high both said. experience, and any in Australia. as in done That sending York, it other test of places People before. a strong Jersey, It's U.S. in we've New into more England, of the We're that a It's has New Germany not November then we run New something rolled different the been in seeing couple risk are those Canada were complements. our And and now it We alienating of late October live

do of people a associated sending. we So but little have learning with it curve a there's bit

experience to to have send at get out pay opening. really, to people a we have for leaning that are rolled better day. your see you is really quota people consumables experience, that monetized seeing We moment, critically, We it version matches. pay beyond we willing leading is you the are free into And that a where the for

well, is with that And And app, it we're continue college, so reminder in see so pleased rolling interaction model monetization to our can going because and areas all that. new We're on it of target go-to-market from on the it delaying being have came that offerings. is And excitement really we've did as a back from on right? out we very we overall mentioned a students monetization topic it all a bundles as as August so largely And we in college in College September, that revised have. was were standpoint, a just our number is August. missed we segment-specific big go said. the schedule rolled of -- live we segment opportunities the a students that broad-based about these into strategy out and college dive finding campus. kind We that different we of strategy, working

available There are them targeted uplift was of labeled are segments student the bundle. some the We targeted These a One others. we a meaningful all on ARPU. basis. in saw in

for the we as on this drive working still verification the is think and the uplift. now verified year out our and virtual to distribution year, and us we'll of also are We talked later in those of which expand goods, program that will college further expand we how rolling evolution example, do -- We're we had previously adding plan next this distribution. early enable about

getting -- who shouldn't accidentally be these don't offer not it. somebody packages we to So who is

Cory, And QX on your answer question about outlook. to Yes. specifics just

we X compared So overall taken our we've guidance contextualize our -- down to of just about guidance, this, to to $XX by headwinds. previous incremental that FX million, relates

about $X product So talked million of for terms Bumble of because of million $XX on the that is million the Bumble largely in you're $X and a X macro. on The million factors difference, really we've of delay about is about already and talking is that $X Badoo.

of in to getting net in how changed. KPIs terms up expect In to terms XXX,XXX adds of out QX, still I come the has year bumble our for goal not

number in QX. by to delayed the driver year. Obviously, and hoping going given which have contribute to to that are would given are not been get still much the are that we FX So an RPP end the complements as fact and of

see Bumble will declines in people app. for year-over-year in QX We our

on So what is again are conditions. before, that's I $X sensitive in to some now, expect macro as largely the is the for like. consumer Badoo we've out looks to -- composition And Obviously, come of macro QX. the of said taking approach a the right Badoo, more how we cautious Bumble million asked

So That weakness we think $X approach we of we companies. lot to are also that just to taking a other includes are million QX cautious a will in where advertising, end. again, similar seeing

to So last of than about terms year $X in that we expecting million as lower are well. be

So components how high-level the outlook of out. the QX those breaks are

comes Khajuria question with ISI. Evercore next Our from Shweta

your Could macro happen happen? of I year teens assuming A) planning. more high now, on what steady, to XX% low and please it's you'll I detail what what as has is that guess, rate. level high to to has very next you and Okay. provide understand do growth to a get low, But has

the guess you is level, talk towards My disposable the on range income you're sensitivity? of about sensitivity what that more that baked resilient touch could So now? and low you've understanding demographic the high second was as consumers? that's I a question at that skewed is, could but you in assumption where of got that seeing And your

X outlook a new then it with start question. omni to that I'll over second maybe and Seth, turn

becoming been of both in Z markets as just are that resilient our in So the we a number Gen product. that in broad-based that has it markets, And our is have, about, talking dating large base. downloaded X historically, we're make resilience rapidly seeing users. true core still is we've we in in really the downloads. grown these up Bumble app a adding example, Gen that And seeing for you're of world. user globally And base the growth and core majority a more user had particularly most Bumble think the as Z users we amount

is other Gen bit Z, users. price-sensitive moment, of It we primarily the demographics. At couple sensitivity price younger creep so And of pockets little seeing in. are of the there's that a the a

a in think with I point I'll hit earlier about rates, that. this seeing we're said that thinking dynamic. segments, on that The what really not decline twice type these purchase subscription we're of price-sensitive a any in seeing initial is including

that rates. renewal And to pockets the what do impacting very wanting is this user and is broad-based. of -- a not to really or going So in certain you keep at It's bluntly, put thinking money anything base, start out phenomenon about not. isolated of it do is should these that you point run

Yes.

its expect, very seeing lot head. in September November, to Tariq preliminary to between was while September, stages we like the of are at I it, impact rear mean worsen think saw we you think, haven't a of and pockets that But and macro We start the in continues. in In of outlook. October we we that seen if I high -- said, trends yes. business, some providing November, saying, our if assume compare about that, in terms level, again, are of you like much even you you October if

of So that we've terms steady in sort year. a for of assumed next state

a we been we about this integration. push our again, obviously, which of are groups products think That products excited Now depending And guidance. much monetize. will we of see of on all flight very higher what on land focus the has being the you about we which the terms our would like macro still get and want it, the we things we next we -- are we out. would Fruitz But of year the into But and next from as is excited think on guidance. starting year how the to what probability perspective, are And on those of up that about focus international worse being. where really of high obviously, want many end worked year, those to are end estimate a markets timing of the of some in of us products those year, got if ends also us again, of made to obviously, end lower to best guidance, next guess to each

assumptions as in what macro that. are also well like. into are that baked is saw QX in way of know that about we going that stabilizing there to the Obviously, looks So we potentially as but excited we come Bed.

So made we have. again, lots being that the terms of in plans products of all

range. this we put point on So Again, finer back in are about we a very now, months. we'll this come when a few right confident

may... And Okay. I if

ahead. Go you. Thank

Actually there second. lost a you for

that. sorry Yes, about

a Just follow-up.

and October was November stable. said date You to

any what So now stay end QX same? to forward? going does see the to your guidance, assumes you deterioration year of from guidance the now Or that the assume

Yes.

we seen we seeing what are had July assumes lower what guidance QX and back now which than remember, is, So again, in August.

close it. So obviously and guidance. the now, seeing numbers we've on a to October of on right we that keep good for feel but eye are we'll But where assumed respect pretty based we stays pretty terms that, in that November are we with

Our from Steiger Goldman Sachs. next with Alexandra comes question

these changes you little prepared product like offset maybe confidence seeing product segment? you fast into how focused macro management most of like -- you marketing. some that what Whitney, addressing just a some you're you're some just And revenue is these segment, Can headwinds And then your from can maybe 'XX of by reacceleration think a and the of remarks, So on that changes mentioned see for elaborate what impact that more? do from you. seeing? new changing you're on could team you perspective, one the product on second, Badoo that the gives we the In

much Yes, for great. so your question. Thank you

love would of both changing tactics I around marketing start remarks product think I with also but to pieces this. around my

think if the relative you to of about product cost options. dating alternative our So comparatively

For it's is saying strong. example, very was I what

New York really [indiscernible] So beer in adds cost subscription at going boost up City of a days for multiple the our than week a expense less quickly. example, and weekly on a

this perspective. we're and So into leaning both a from marketing product

going relative of This real be from customers product are the the So our to out very showing dating on really we hybrid, value our world. and product a in marketing versus a using subscription resonates well. going

with experiences to customers in that line We our are these we needs adjusting evolve. be be to as they offer the more also to their way really going

shorter shorter of instead longer-term subscription opportunities, maybe maybe consumables. So a

these to So really just demand nuanced being segments. the of

approach. segment to is that more segment Now more a I is want a still this not a experiences high-end offerings. premium curated reinforce There blanket There's offering. and that wants wants really

targeted so this we've we basis. a that new capabilities can these do very built. with on And

capabilities these saw land bundle. college You with

enhance College our is not and we experience important to offerings this our bundle can core the just about product is an I point. bundle think offerings college for how demographics. our audience. the monetization actually about It's

income, be a end them that how give looking their needs someone more So disposable meets on and can if have premium the versus consumables might we you demographic experience. of for see offerings the less subscription barbell, might other that a that

for So that point another this for important with a product demand is very the confidence into end would not hybrid something is it's value. say from we I our one to relative deep really marketing just really and think And and effort on for and would that dating. this extrapolate the conviction we leaning love

numbers numbers shown this shown demand product. Our top have not line is have registration in in for there our disintegration

that. I so And reinforce do. question second the just wanted about And believe to the was I

really by of do affected still we've the we're excited really is which efficiencies that user anticipate has work for team. focus remain that to uncertain so macroeconomic Badoo single very -- threaded as understanding is have laid economically challenges. customer about for in we're been these delivering an around does reacceleration will we also so encouraged sensitive terms base and by and out, So a performance we the while the delivering owner, Essentially, needs, in more leadership new that we their the QX improving the but we've that really know Badoo assigned for who customer remarkable and

driving feature the to that a providing we're then And that So daily product plan that suggestions. year. of this features introduce we ahead, adding really year before new for focused just this monetization end Discover includes and the audience. really on compatible new be serve will that

being this really team is new led manager. of of all by the a excellent focused general ultimately design that really and So tight said, and

the So progress momentum. are we and product positive continue we're to with our overall, the maintaining pleased focus

for next One our Thank moment you. question.

Loop with Our next question comes from Laura Capital. Champine

the a -- how grow to guide for outlook opportunity thoughts next for teens year's total compare or revenues in sort of long-term on initial the range that to company for growth? -- Inc., Bumble On does the your revenue

start with that and can the I'll Maybe in. others chime

we we about in space in about -- dating online other think as the do that. TAM but as I of talked social BFF think areas defining really in connection the the past like it we've we're kind think both bids,

space. we rate, app there I continued to bundle both that expansion a think And time. we our the the that runway believe opportunities that of if tremendous amount at some we course, the top of BFF, then growth online the with think look market of others international bundle that, other to the And think opportunity future. we'll do keep of growing continue -- app on do of layer the apps lot Fruitz, a there's both you is expansion in and you and of reason like over dating connection we incubate do that have in in may

there's and that on not speculate really what not are look market focusing of on we're share. or we've like tremendous secular a gaining on at headroom, We had both do that least terms XXXX performance going basis but to given could the we think in

A% basis. Just Bumble a more

really you're of exciting this very seeing early indicators I and and think what's complement. remarkable

and and had forms is foundation at core to brand but This is of of move. user business this core You given historic our the we've functionality interesting pre-match. strong first works any nature the really our and powerful so woman the engagement the this look future how proposition of product never of making a

in exciting product And so there's unlock year and ahead, well. there when the as opportunities the about think you years the ahead

next our And Benjamin comes question Black from Bank. with Deutsche

hear on And about spoke to trended expect -- app how on new should markets. you impact XXXX? you RPX? of little a Whitney, be we newer map the how next should have product just drivers bigger road And newer sort should in suite a Or international deeper great how the bit product should the should impact be KPIs a here? the bumble be what of Could your Bumble from have year. of thinking into of app sort in your of dig secondly, for bit conversion? model we we about And It'd perspective and timing Great. some launches international

then virtuous start on brand international it but happy really brand. some we and we're product piece. Europe, foundation go other favorability, for was these with of our Western I'll that focus able the make really seeing about as piece I'll The lays markets as Sure. growth just to are to turn to establish the we to Whitney talking about the markets it the specific is into talk for it a what into core really of and laying build in that see cycle. really of international on in just organic actually organic market lay all And we We growth is top tends as tons the markets. that then to and foundation. coming it strong growth organic to marketing try this that market. of of build We our on marketing our a healthy of into there top with opposed

So you example. as market Germany, a look like if means in an at that what

leading growing talk continuing would see then would that to see You the really a be is would organic continue very grow. lot And you brand to preference, a with that about registrations new growth. registrations, you strong strong to high. ecosystem and see start We new

market. on You And where can as are download gain closing market. download share of even see face in we in data in X around in number the Whitney to the this of third-party spend a continuing in that competitive that position share lot the said,

back, a a You high at well. as very if for doing see off it that while rates find go they app people terms they're the in rate they relationship, come a little where of reengagement

make you and mass the is you to that retention And in seeing need payer rates. option build time preference, worthwhile. we're the monetization it dynamics critical builds then over So because payment that

So we that's have. well-worn path that a

just DAC France, you in we X in think is in can it, Whit we see you playbook region, that see launched as that around You different mentioned, Spain that we And where this quickly pretty emerging see markets. in that, it use July.

healthy to brand looked something organic the into launched demand already really is like it a go lot We organic and would Spain of market through these that have we most markets it at if the actually see of we that's you through the level and and there. haven't in That us work of product the you of amplify -- that markets brand global kind a of localization a relatively we there. nurture makes straightforward what's in do.

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turning strategy. to product Badoo now So

year ahead, an date So feel great had road looking exciting product we've and launches we And to about our map. with innovation.

and offerings, So experiences technologies specifically AI of machine advancing in product XXXX relates safety to that our and recap, we trust lot to leveraging deliver time it relevance. as spent a as to such drive learning and

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and note is two-pronged you through that strategy. into talk entire this baked approach, time I as connections safety first women please this So

of to just going are health engagement be we focusing ecosystem. on: the said, one, of two, that will overall increase the these So Both monetization. increasing things and driving

user is So in X growing is about to segments. And bases many Dating products active needs. cohorts user have that and our and on different building we engagement, demographics cater wants all. XXXX specific size not so and rapid fits all

experiences are that we specificity. and prioritizing particularly So focused that with unique and these experiences these engaging are cohorts really on resonate delivering

mean doesn't be and and it our example, and them resonates that nuance behind So how they users, really the millennials virality there group. Gen going do That want engage don't is giving what within intentions product Z we're product use differently they to their much are for but socialize than in it. to Therefore, and they do. don't

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to now So turning monetization.

a are approach. taking We barbell

duration limited than more look group. and think we can limited users. offering products shorter customers, or at when consumables for tier lower still first care longer-duration that for we But more this and and affluent about higher So spending power

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we these So X of can are those kind of examples groups. different target how

while categories. experiences, that advance We product engagement believe our with we users with in and Z which continue monetization position So great monetization is center into just lean the lead map, at premier ahead and this of year really approach so the driving front road to Gen us to important, will experiences. this with both will

Our from Lauren Schenk. next comes question

Morgan with Stanley. line Your

Bumble the on And outlook, sort Okay, initial growth great. for just back assumption present as In marketing, more competitors App a sort of your sort coming of of what's a of on spend 'XX questions. marketing Maybe spend just being How following couple you marketing your 'XX? of up you to the of revenue in underlying the basis? terms then about increasing some largest backdrop in think their about the and year-over-year next year? are thinking earlier

Yes.

to Apple still not think So we specific be numbers next Like sort obviously provide App. of that the when we give We'll I've formal said, Bumble major now Bumble I growth going break driver guidance. are right Lauren, for for year. out

our points. basis the leaning and is such year, going our like about machine to of Think spend investing our be do be users philosophy, to that. like our respect up need When within growth where next of App expected. function large from. is comes again, AI, a we about to said, environment macro that paying With want think So Bumble beef technology And will the are I public XXX that margins our to areas things -- next and to you've want since that seen of as areas as margins by around given and data we've year, we've engineering, are expanding expand growth really at we committed year. long-term that of on learning, especially the philosophy this areas we we critical it's you do committed least And into product spend, our larger this us been for to business. whether

will business where of us in. see want lean in continue to invest we you specific the So to pockets

us. side, marketing revenue international a for the On Tariq obviously, like of driver saying, was just is growth, pillar a huge big still and

every of to So spend make for dollar et also et money you at within returns, thresholds hard taking we a will cetera. meeting us spend each is have but look there we cetera, spend area ROI see marketing the high are we roads, sure that that very

leverage want especially to year definitely will to is public. this see item it's -- but finally, infrastructure our So that us a want next largely line in obviously, a that then we've areas And built we where in. gone and since and up, on grow line we we've invest see money spend also item you on,

growing So be company also mean pockets I our lower in. seen very the the We very, very, on growth to still still within are pretty out. about right a that applying good high. than to be need the as are world, in But in think And that anything the for leverage is much be we that's But we still next the another company very going much we area you again, focused we is, we expect have very the to will going I and And to the are few will G&A, being invest happening bar feel bar next in what in looking to year investing we've areas. past. we headcount largely say thing high. given is ourselves to the create where obviously, final year. about where headcount funding built what's and

a I So information forward look in more again, few to months. specific providing

maybe marketing And side then real on quick. the

a competitive this, -- brand a typically, and -- gain of marketing that we product. elements we've the even have our on see without by micro QX we very and amount industry, I just spend not is in considerable the been have approach continued relying of something think to historical share fairly QX, differentiated in on of seen the focus a you unique that have we lot the marketing and

continue we we confident do pretty that. can So to feel

conference participation. call. Thank you. your for Thank today's you This concludes

now disconnect. a have Everyone, day. may You wonderful