Bumble (BMBL) 22 Feb 232022 Q4 Earnings call transcript

Good afternoon, ladies and gentlemen, and welcome to the Bumble Inc. Fourth Quarter 2021 Financial Results Conference Call. [Operator Instructions]. This call is being recorded on Wednesday, February 22, 2023.

I would now like to turn the conference over to Cherryl Valenzuela, VP of Investor Relations. ahead. go Please

Anu joining Full for are discuss Fourth President; Bumble Herd, Bumble. Thank XXXX us Financial and and Shaukat, Tariq Year and today CFO Results. Quarter of Founder you CEO; to Subramanian, With Whitney me

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

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

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

that, it turn over I'll with Whitney. And to

today. joining million, with Cherryl, $XX and was you, our EBITDA total million Thank $XXX us strong exceeding QX of adjusted finish both thank for all the outlook. revenue you a to year and of

for our the growth mission driven users. by against Inc's. execute to revenue strategic XX% increase reached over our Bumble year-over-year growing and profitability million, revenue full $XXX XX% year shareholders. of strong delivered for up year-over-year, Bumble App continued advanced a priorities, paying revenue and XXX,XXX we XXXX, with In our

are who to a delivering execution and teams flow profitability, work hard $XXX testament adjusted well results and strong the incredibly EBITDA amidst cash to free of full of continue of globe million. execute XX% drove geopolitical and These the year also our We uncertainty. margin macroeconomic around

our equitable demonstrate These in and connection. enduring results to by healthy which power create world a relationships all mission are also a the of

XXX,XXX each a touch France the fourth on quarter brands. markets Bumble million, quarter. App growing strength let and with $XXX in markets Now as of strong over XX% established added revenue revenue of both me in our users year-over-year. briefly strong growth was had Germany, as paying India. with up broad-based Spain, our as well such in This Bumble

continued our data on sources, share as QX, and in Based these Canada, U.S. key in like position and we third-party in downloaded most maintained dating app #X to markets markets. the grow download the

downloaded top is and Germany. most We Bumble are of say dating Valentine's Day, markets, that also App U.S., as the Australia, app Canada, the in including our to excited the U.K.

Bumble in the the Net audiences, Gen important in Scores X especially our led and women most Promoter other fourth online App's apps, quarter Z. dating of U.S. during

momentum extend several plans we have the over years. the last XXXX generated Our

continuing with one, in leader remaining two, brand strength, by our growing product rapid and women; safety pillars: reinforcing These X design. especially four, a global new are through built on and experiences; revenue expansion; monetization three, our

turn. each me Let describe in

new to into cities tremendous runway core First, global a and expanding both secondary and Building still expansion we in years, our of strategy. has in markets. believe is critical been are component and there Bumble's growth depth growth recent existing

be in to on and revenue For track launch as it push been of third into markets couple XXXX. cities grow continues years largest now and we've now, in our a more market Germany original example, beyond to rapidly we for the is

countries We new year. will in this also be launching

in resonance to and with the Central baseline efforts strong active in markets further we major We'll in Western example, due have for Europe, and foundation and Asian on and of go-to-market Poland women-first our expansion Portugal our Latin as around countries. level brand the world American Italy, our a Southeast this well advantage as is of most be to One approach. demand building

Bumble the we is of this especially by it Astrology strength Second, features launching because women our and and out where We matching our is experience intently remains requested our brand And to year, of focused we've them, year. been enhancements women, to including this steadily our with a offerings. expect most women new roll Tuesday new to last offering today loyalty, Beeline, and priority. series and listen launch are that the customers,

with investing continue programs in are women. further our Gen to college gain We Z our share

we quarter, are customer verified last college users experience recently mentioned who a dedicated for we students. As launched

college We believe our verified hundred we on resonating. thousand several platform, have seen experience dedicated is the students and

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reciprocation Our lead of Gen to optimistic future we data about are this growth. rates, customer test have especially that enablers gifts Z, learning and with experience strong of initiative. higher been Machine early Bumble's suggests and almost XX% the and virtual science

further We ranging to helping journey, relevance matching. initiate and better from our opportunities see and more them more optimize improving their and chats to into integrate AI profile user

engine double-digit in substantial have several X at months and last Europe we new this match markets on last behavior learning saw core. in working Western been improvements the improvement tested machine in the over rebuilding the recommendation rates. voting Over with X We've and in model years, our a

our brings testing expect creating QX, offering, model me people grow begin to highly compatible to third new new highlighting paid this we In pillar, you. revenue. curated, highly Bees to Best experiences to leverage our to This

our next to year, enable performing last to work platform. This was more work our been [indiscernible]. required of modularity into build monetization foundational to we've engineering and us launch the monetization agility Over wave

in grow value. enable greater increasingly It additional the offerings offerings, lifetime la a of an these us to ability manner and Going enable to target forward, to this will a new carte platform launch enhanced bundles will variety precise subscription offerings. also customer

markets. now major highly this initiatives. We've use test optimization our out our seen which likely feature, fully rolled sophisticated has accelerate impactful We typical enabled user to message-before-match promotional and our feature more pricing with where will is is XX% initial we One new where platform the Compliments, markets response platform in to be match we've launched, in result Compliments than in strong a to have mode. monetization a seen also

upon Compliments space, year. now the the new rest to are starting We with are major throughout the feature to this excited and of roll corresponding plans. marketing in out our the is build offerings message-before-match first we

addition Germany about from In as and for dating including a of experience. number partnership our of to Best potential speed excited speed branded experience dating our it offerings, also stand-alone I'm India. unbranded version In the we the transitioned and a launched Compliments and markets, U.S., a Bees in major QX,

are We a experience testing approaches, making monetization ticketed events. including actively the

a ways we for and with Lastly, that know users, authenticity. express their level are XXs, [indiscernible] personality more to those looking themselves of particularly in high their

and their examples. expression. experimenting leaning virtual will ability just In offering effects as we [indiscernible] mood a experiences to for This with photo and the include profiles and into creating new desire stickers, expanding chat, well be QX QX, to of few our self will this a to add range paid gift name as

our or is Our not create afterthought relentlessly last Safety mission and we by kind us. pillar connections. for by is to safety working We marketing and design. campaign a committed an design remain are mission to fiercely

into build and been safety the the build we at Bumble to Our to products field. in see approach always capabilities at to continue products has new safety our as these outset,

amount We learning into our safety increasing are also efforts. machine of deploying an

other monitor continuously models moderation photo to experience are and language already large we approach. further And toxicity. content our GPT-X in-house and prevent with augment our strong Our services harassment model to experimenting

have finding to our Now offering We strong turning to the only a friend successful and remain unique due Bumble dating app BFF. scale to brands.

market General XXXX loneliness friendship the the around Americans the people. sizable is opportunity that believe to figure of among to XX% prevalence given struggle sharing climbs We with revealed Surgeon That a with younger U.S. survey loneliness. online XX% of XXXX

managing significant a as brand. reflect Bumble separate To we're this increasingly BFF opportunity,

BFF, to global appeal. traction XX% alongside excited by the year-over-year continue QX, strong user now growth be We in of on with

important forward very sharing in expect launch further the product have unlock We initiatives quarters. coming of marketing midyear, around and believe to a will user these set look and which we to we growth

have lot in exciting strong XXXX, of we planned a initiatives Bumble off a App are for summary, to year. and we start In to the

stabilizing was XX apps France. by turning made in solid Mexico, of Now second facing some Badoo progress the Brazil, the Italy, X countries, user to in and Despite base top Badoo. Badoo challenges, have a in continues to dating ranked among downloads XXXX. Spain half We macroeconomic including large and

most appreciates engagement connections, the loyal creates user the amplifying and recent had also and adjusted Badoo the quick product which and in FX impact for has when positive easy on conflict year-over-year of authentic and Badoo's Other how platform, on what impact user Ukraine. a and retention. We've long-tenured base focused revenue efforts it grew about

monetization mentioned lot Badoo, The continued enhancements in of optimization our our the model. earlier our platform that also is using applied A experience platform I power of XXXX of on platform shared illustrating focus these to enhancements.

a have drive greater payer ability on these we'll now offered and bundles we to promotional on penetration. new And much example, For increasing focusing be Badoo's consumables.

of to number lean on into Badoo exciting quality a to drive features faster have chat-based we connection. addition, all the time product designed In and experience new launching,

right are we work we fully the stabilize have While Badoo, still path. to we to do believe that on

celebrate we X-year to Lastly, of an the its on as anniversary Fruitz I'd share acquisition. like update

year, the proceeded Over with its shared has steadily and platform our contribution smoothly. has revenue its past grown, integration

been strong more for and mission. where been brand our organic business In our its French-speaking and brands, markets growth Z about enjoys the Gen Fruitz download have concentrated, tremendous share [indiscernible]. opportunity never I our excited most has

our have apps We and momentum growth. runway solid significant have for user

advance map have team and product it. the strong also a to We road

focus We kind design. continue connections financial discipline will execution. safe by providing and as true our operate to and we be on always, mission a And to with of

our of for Bumble. work. We like team only thank customers, your I'd their continued and to and you dedication for Thank contribution. succeeded and to Thank trust because everyone's investors you support. partners hard

over our for a I discussion that, And results it will to with financial Anu outlook. and of turn

of everyone. with year discussion a Whitney, and XXXX QX outlook results and you, full afternoon, Thank XXXX. and for turning our quarter good before begin full fourth our to year I'll

Unless end stated quarter above was the I Bumble quarter the fourth XXXX to versus primarily of App. and by our Inc. QX Total driven refer up high otherwise, Bumble million, fourth make XX% XXXX. in $XXX comparisons of growth guidance the year-over-year, revenue in the of will

negatively primarily per revenue average paying paying level, revenue driven increased $XX percentage points. had top growth FX expected of at time million we $X FX our better Ukraine line, million aggregate, X and impacted by which increased by million, In rate a user was the growth users, the X%. our while X.X in XX% guidance. was growth conflict than to At a headwind group to headwinds by

Bumble lower from was had which year-over-year previously X Revenue XX%. headwind, The we anticipated. headwind from $X million was than up negatively million, a $X App points. growth $XXX FX impacted by FX percentage million was

by App that added revenue number growth drove X.X by strong strong on paying in growth increase users. million. users successful of driven Bumble reengagement payer a was in factors, a was registration international XX% XXX,XXX The users strong to paying sequential expansion rates, including and basis, we improvements And a penetration. and paying driven product

ARPPU Bumble country optimization by and down sequentially. to initiatives. The year-over-year was FX primarily impacts, App's and partially mix $XX.XX, X% offset due X% pricing

App $XX a QX, XX% revenue and Other was reported a Badoo App Other. basis. to on on moving representing and Badoo decline in year-over-year million Now

negatively The Badoo our declined impact to rate In conflict growth points. and and users headwinds exit percentage XX% to Belarus paying our XX growth. negative X.X Russia year-over-year the aggregate, from roughly FX of a million. by impact and App XX% Ukraine Other impacted

primarily mix, country Other due App to ARPPU optimization ongoing FX by Badoo to pricing partially and declined work. $XX.XX X% and offset year-over-year

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

non-GAAP We remain Total $XXX On and noncash profitably, stock-based and operating into managing very the excluding onetime expenses for our business quarter. non-GAAP were items, other dynamic our expenses. on a operating consideration XX%. to GAAP expenses environment. were macro focused now million or up total comp million, basis, costs the Turning taking $XXX

between $XX year-over-year. XX% Android. was shift grew from App revenue and and by driven revenue iOS resulting million increase was mix primarily growth higher Store of fees Cost The and

ago As a XX% of of year was versus revenue the revenue, cost XX% in period. percentage

spend year-over-year in million. efficiency ago versus during XX% marketing expenses focused to This marketing XX% million million grew XX% to expenses XX% of last $XX period represents quarter. $XX we G&A or Sales the were year on as year. or revenue of compared XX% revenue revenue the of and $XX and

$XX charge X% result or our year impairment Belarus included to million revenue related operations loss expected of net resulting to the a QX period. as in X% in $XX to $XX Badoo This and GAAP larger loss million the from versus was were Russia ago revenue million Product a an expenses as loss development of of of or year of million environment. $XXX brand million in ago net compared the as decision well $XXX seize business macro period.

QX and a XX% margin. $XX represented adjusted EBITDA up was XX% EBITDA year-over-year million, adjusted

the XXXX, In to from X XX% paying user Bumble XX% aggregate, to XX% For negatively revenue growth million Bumble Ukraine to million. grew during net X.X our year. percentage total Inc. full and more than rate conflict of impacted Revenue year points. million, driven million FX to year-over-year grew App $XXX growth headwinds leading by $XXX adds by X the

Adjusted $XXX XX% rate our impacted points. EBITDA headwinds FX margin. was percentage by representing X million, negatively growth

GAAP net of $XXX XXXX. full $XXX in for the year loss compared earnings Our XXXX was net million to million

to of cash million year. last continued free a year with cash totaling million $XXX from cash strong equivalents up total for healthy $XXX in ended year. million, with We We flow the generate cash cash and $XXX flow position the

moving outlook. financial on Now our XXXX to

we in growth of As year ahead. the profitable another strong expect Whitney noted, period

revenue For to to XXXX, estimate full year-over-year. Inc. we year between Bumble total grow XX% XX%

Bumble and seeing expansion year. between expect we so product momentum strong the we expect Based well growth the another have We on far, are we geo map revenue have, as road plans our XX% to rate XX%. exciting as App

path Other points estimate to ongoing margin that margin We be XX%, with Badoo advertising outlook our pressures we a While and along is of revenue. revenue basis continued EBITDA on on the assumes recovery, Badoo pressures macroeconomic year-over-year user, believe on representing expansion. will XXX adjusted

we at representing expect year-over-year and million, a QX, XX% For between growth our total of following: million midpoint range. rate the of $XXX revenue the $XXX

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

would of at have revenue total our outlook the growth impact Excluding this, the midpoint. been XX%

expect between representing $XXX App year-over-year of revenue to million, a XX% We Bumble and at be midpoint. the $XXX rate million growth

Excluding FX be growth revenue headwinds, XX%. our guidance Bumble would rate for

$XX be at level midpoint $XX margin we representing high margins marketing We of estimate million, spend the QX the will EBITDA adjusted the of range. million XX% and reflect between typical place see investment priorities. at that several the and around of efficient internally spending remain to ensure beginning put year. measures stay around hyper-focused we We the have disciplined our and in

confident margin healthy target very achieve our EBITDA in also and committed margin XX% We adjusted ability are full to of remain our long-term year to expansion.

on for We an In strong that priorities. can confident closing, are and our execution strong revenue strategic profitability growth focus very disciplined our this have we our we and exciting year of we believe ahead is opportunity and deliver against us, shareholders.

open with it can for up And operator, Q&A. we that,

Instructions]. [Operator

Your first question Justin comes with from KeyBanc. Patterson

impacts over of year. course like the into to wanted on just a a some kind out that forecast outlined little Anu, and Great. you just forecast assumptions the of rolls a and of you deeper sense year. It getting lot of the about how for the potentially the I guidance a surprise into could the what go be the you the of what's year. sounds course product embedded it expansion. of me, the talk in better with over geographic and initiatives -- could of

Yes.

Justin, happy is to This that. take Anu.

guidance revenue XX%. App, a in my I said as remarks, Bumble total range have given we to XX% prepared for So of

perspective, We're We not any think be starting with a peak quarterly quarters. Obviously, momentum. quarter. fairly from big expecting good off this QX cadence will, stable we're every

for feel that, good and feel then what's of So year. assumed the rest good about the about we we

paying a to healthy in growth comes the growth from we users. think Similar 'XX, revenue

around estimating effectively And next mark. again the adds initiatives we projecting. what would That's that our depending to lower, year that of some are will slightly , be largely product we flat imply is maybe So ARPPU where 'XX net are numbers, land. on

at Now as maximizing just this revenue the said we've reminder, on always versus and are always maximizing focused payers a we in past, ARPPU.

again, confident a feel revenue can down, about numbers numbers, up of initiatives shift given adds pretty So these the how little some very about or bit but on that feel we've net we the range these you. we product land, depending good

the our product you optimization from of growth initiatives, from are a we lot lot revenue of that that as the comes perspective. next perspective of user as terms a In a year see in as base improvement work doing a well well from as largely pricing

is we've this something are good historically. Again, that very very, we doing, at done

the out what With assumptions of there. these product will to map initiatives So always, very, good we that model a the we new through very road of the and year. course respect lot product have, we look that about feel like product made we think initiatives the like we've

are products There the we talked have different Compliments coming that data in Whitney some already markets. about that landed from real -- like have are market,

Compliments in assumptions on made sizable we've contributor XXXX. be So that a will based revenue and to

But in then yet landed we later initiatives those. product there are certain where the haven't other year

made we've certain included modest not because, those even down. that other our product some far we've again, then guidance are contribution in too there initiatives And assumptions. So ranges are

roughly that's guidance out. of sort App how So Bumble the falls

next comes from Shweta question Khajuria. Your

Could the the drove app implying that? you are please that specifically? you're had across in that Was gains is, different you QX were talk countries? these on share you think Valentine's about your of there So you Day sustainable that what effort downloads? And marketing a how seeing as question gains share do

XXX is, efforts Help of for marketing about sound confident could through least in question bps expansion. second your year. confidence your talk the You expansion? the you delivering in then And margin at Anu, margin think us

Shweta, gain it's then over question it the share start turn Anu. Tariq. and with I'll to

noted, Whitney nice a QX, then QX, we've where where to very as traction on downloads, as see continue that I'm share, we've seen been we you had acceleration. the in in and gain and we've So -- both to noted pleased

To not spend to things. that different helped we really cut outsized spending an has to us achieve chase, out is what's There's the anything of a that that We of the -- been couple acceleration. ordinary have is think that. marketing there going not on achieve

cumulative the momentum -- number word a one. we think we've success Bumble programs is effect. about continuing build talked are starting started to the like the That's a that the around really value on and mouth, One of we of fostering it stories, which to narrative we think really are Bumble, around have lot the proposition, before, App,

Number two that's kind are there. already demand teams that lot harvesting our of out is doing work of around there's a

So you Stores as well. the on the the App called Store like things think the search world about engine that and App sits capturing what's There's how parallel are App in demand a optimization, Store, that.

that late to specific a then placement nice and whether demand demand. demand promotions. -- in paying whether is in just think February, get that Bumble that's demand, We And we January, very that's particularly at better to just and And of industry fortunate off. that we've continued better capture, or lot of were then receive

Netflix, of Store Store that. the We in That an activity announced a App a partnership Play like with and things the lot resulted as example. in itself, in

we're it's the traffic, have spend that I been we of based buying investments of not but So a where the a lot think it's culmination making.

but share you spend spend we -- so gains. can achieve to people And market can don't,

share. download it's I the think that particularly

So we're happy we today. with where are

the who's #X happier just to on are opposed X. underlying have, with as and we're going trend that to keep and that we focusing We

I'm XXX the margins, question ability your points like about I confident very basis about to expansion. very, so margin to get Shweta, said, And Yes. our

On marketing of talking line we international bar expanding And into a this those is we XXXX, I Growing marketing high one all was Tariq goes, of about, just as still which have bigger for as very markets, about market us. again spend. priorities as call for last as think in said items. spend how far big are earnings our our share, well,

returns, brand. So existing are new that are spend sure for we our area we spend as thresholds will to a areas money be look meeting in well markets all markets spending that every But at even high cetera, definitely ROI very the make cetera. et have set taking et of building on those of we as hard of

line that So you the of item will see leverage the through year. course give definitely

as Now Date as always I on think Sunday elevated spends QX, Day. about has marketing and said, you Valentine's

similar we well. It tend So spend in we did QX. to what very higher last was to year as do

year entire Our QX lowest quite quarter ticks And EBITDA up as was the by. goes then in margin margin year. our significantly the our

I we of a guide. lot too that is have into much the during EBITDA read So the QX very our the in wouldn't much year Again, spend control.

confident spend very area about next So is, us we for feel headcount. big again, The very, it. of

areas again our growth. we've previously, are the that to As into critical we business leading said of very are

So Whitney and a AI you about heard learning machine data talk engineering. lot and

in in So resources a to spend are want as continue to that those we areas. as people for and invest far headcount concerned, we have other definitely but high areas are bar

that very So that's why, set forth. again, I about good target the feel we've

the And sort that us reiterate continue year. you'll to as we message see of through go

comes Cory next from Carpenter Your question with JPMorgan.

would Great. teased I wanted premium sounded a back a that Best to that that a of in offering? Could more a it la subscription be to earlier. an little on like something carte package Bees new bit? the offering perhaps or like you you come Is that expand

secondly, And just macro. then on

step and then consumables? impact October. You on down rates renewal of that a has trended previously talked since in in late terms How September, about early

it's Cory, Whitney.

Best is monetization we're This little give just Bees. on talk paid excited the then feature how you how works and testing about standpoint. a we're So a background about we And from can really offering. a I'll it

opportunity people. to really our exciting of compatible to So curated all for and very this really access a is a of get highly members set

this it is calling we're Best why Bees. So

age groups, tailored And really And this specific board, to geographies, cetera. to be going so et we that across to user. going really think it's the resonant gender, be is

the content-based And more provide to opportunity nudges. machine huge there's a learning, with

And about is will work? going a we're premium to offering. to this say, It very all excited so How be anyway, this.

consumable the to be going that are different rollout both updates of with of We and provide we versions more testing subscription, that. will

on question macro. next The

the about to top strong. the and important results, be industry engagement about confident dating the our very So note funnel continue we're of to that and feeling think it's metrics I very

we're clip. So overall, at users our a growing paying healthy

last we're see New was price-sensitive user purchases. renewal Where subscriptions around for in macro-related some subscription consumable seeing strong. growth good the rates summer groups. impact remain And the we really did more

rates earnings. believe But stabilized Gen pricing lot last lower strength and This deterioration the a we since the Z. really base reflects brand, of further that of And been the Bumble was resiliency have resonance the the our and not recent renewal product our level, of the we've business at of majority and user seen of marketing efforts.

Your next with Sachs. question comes Steiger from Alexandra Goldman

So like potential as virtual we also, college goods And timing and Whitney, How of you stand-alone you discussed potential avenues do update gifts monetization the the that? should part about an for virtual on providing How the about think BFF. bundle. as of think of then thanks monetization a product?

you. Thank

take So in. is going to then BFF, and I'll Tariq jump

be finding want reiterate equally for important to going And friendships, important as to feel BFF we So it's as opportunity the remains I that platonic with just priority love. an us XXXX. market in

become want I So has even bigger post-pandemic a concern. just to this loneliness reiterate

I to high a want us. this is So priority for just reiterate that

factoring far As we monetization monetization to some this as for later around not product initiatives excited but far into really year. models XXXX, in goes, be guide grows as we the are as testing our go are --

time in. update you Tariq, can we'll So jump you comes. as the And

reception nice are opportunity. -- the population are that talked from conversion we when that that just virtual about, we Yes. college group, to presenting high Whitney On a gifts, rates launched very and we're gifts virtual seeing we

to something with think virtual here on that we we're do So gifts.

higher in are, send seeing if a We meaning to a virtual, much likely also reciprocation fact, rate, get more a gift response. much you're you

that so adding the the users of creating our And overall it's inside ecosystem of value to and for health the app. we're

there that our we excited know we Z we're on a what there I that we're side. is the think virtual about strong think So And do on opportunity college is goods very here. Gen doing premise something here is basic

and put we express leads of a together notion a bundle, Z We're that self-expression. Gen for yourself looking really into package at how offerings of can this really

people stand gift in other virtual would you out helps way so otherwise, to And do a we express authentically. different there a you things can themselves let than that are

other in and you roll Z particular. see of us expect So should kind targeting this packages to Gen into bundles

next John question comes from Your with Blackledge Cowen.

I'm America. your Malinowski question comes of next David sorry, with Bank from

a a It's it what improvement year, and to of of for Schindler. or beyond like just just first back the the half look on half look for 'XX Is steady dive bit in state might little maybe into David possible Nat Badoo's more that? the at

Yes.

Badoo -- -- So you question. the think it's a I and key reinforce remains important Badoo its to in for leader markets. thank

So it dozens and Central and a America, X across downloads countries app Latin of by Europe Asia. in is top Eastern

it tenured global And long does have this and loyal base.

So we of with lot strength. a a operate are continuing from user to standpoint

'XX. On in the revenue the of side, half we Badoo made in progress solid stabilizing second

we Badoo's However, be more that acknowledge do there's to work done to resume growth trajectory.

really propensity results to be and inflation This lower overall to in macroeconomic And we customer an sensitive know that pressures. continues to Badoo the pay.

our are. is customer Badoo goal to our they So where meet

going serve point promotional tap consumables platform these XXXX, customers to to So offer price in we're to better and bundles enhanced new their monetization our with ability.

ex think and impact will from Russia, will we -- for building what et expect our year, add, negative in think that outlook XXXX. net And that Yes. -- are Belarus, be better. XXXX what we the We from to Badoo see versus net in adds cetera, negative definitely XXXX we do just that continue will in I a to into we the saw be will

be most is So will QX to probably XXXX adds. it should negative we also, going the think get have negative. net But definitely still better.

negative between now, we projecting for users about terms right 'XX. Badoo are QX of in So paying QX 'XX and

see to pricing continues a make of Whitney we and put lot work said, definitely should year are that by, a goes to we from well. a deliver recover. promotional start as perspective that sure But the on perspective, the path that to And doing as we Badoo product have from

Blackledge Your Cowen. question from with John comes next

questions. Two

international on First, the expansion.

in -- Just first some are on the quarter launches provide us update on give you color more efforts country if can how XXXX? those key in and an perhaps going

European kind engine? certain any some key question, recommendation second to the the do using new offer it on in then matches markets in other and new in uptick the markets, the and rec to engine roll U.S. way And on of you're you with out expect that color

Sure. of John, those. both I'll take

On the into international expansion, have where to expanded into already Part where and go -- continue is markets. our we X new deep two-pronged. see markets focus expand is X deeper really those deeper is to opportunity. we and Part

got The job country. a is done in the we playbook when we've really very both not fronts, launch And feel that that pleased is we on working well.

example, deeper still in an piece, launched other if in France Germany region, regions the rapid as of So the the take seeing have Western that Europe growth we're and in in. go we I parts German-speaking DACH

we're expanding true in is, we're expansion and as very very, deeper we're rapid cities that to in segments to as in both also go well more new the India, if well. of inside that And And where already growth India of seeing lot core a geo That's continuing to as in. cities. key cities you Mumbai like our will,

Latin and Asia, well Europe everyone's Indonesia, we continue us the Philippines, share. market playbook, in historical the memory, And South and America. parts focus and been refresh that Mexico southern Southeast is Latin to is of gain allowing and So parts think, of Western America, to particularly working Singapore to has

opportunity. market have Central Western new we year on comes really least this that and strong other it believe markets this a first to the As focusing at Europe of launches, half the in we're --

markets and So be on. Nordics I Portugal think mentioned Italy, we'll focused Whitney -- key as and Poland,

got in with go really deep as efforts it combination well. these again, is we've that But

rollout. our Moving they engine, We the recall, work. on that make to we this sure absolutely expecting to you to be a as test are we global obsessively products recommendations --

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as that quite results we're you the are And seeing, really substantial. mentioned,

compatible super with rates presented recommendation the already when are versus centric we've double-digit this increases non-machine very recommendation got, our of model. learning We good match seeing engine you're that sort in

value adding product, that's really we to of us think we're allow that an of will on think what monetize a further. strong already lot this top we So incremental and

Your next with question Mark comes Stifel. from Kelley

QX about how spend. you you. maybe competitors of their -- just steps need to commenting is maybe think it one factor With for fairly into spend or I of doesn't? that to one you the want does much that up -- you I for know marketing that usually Great. brand ask your main campaign products, large a

users is maybe that But about I college those not that would way product, incremental on about would of a you many yours, thoughts product a I'm that any then out would called is to comp college perfect one focused launch? there just second, argue you there great. talking that to a but as how imagine the And result be were of think

Mark. Sure,

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So we think that how core remains about to marketing.

on operated a approach more and performance-driven operate very the of very of continue to discretionary here. disciplined sort will the media-driven, ROI-centric. pieces, We're that, On the pieces top we've

a very, You'll really at our level. on to recall very payback this that pretty that we've allows got marketing us which short, periods spend fine-tuned are manage

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approach I And unique this with feel Z. like really Gen authentic so and we have

question with comes Ben Black next Deutsche from Bank. Your

Great.

sort the follow-up last to a Just question. of

rebranding So Gen to your better competitors are Z. connect with

it curious it success what's users? your to product really hear marketing? So these driving Is Is related? across I'm

think then do you included impacts how feel how could you're all. that product them help at standpoint? that secondly, Billing product potentially a how if from potentially you a And launch User program. competitively And Choice positioned I And Google's flexibility there? financial Curious or in perspective,

Whitney. your bit that Z, for women is to weave I'll a going into well. I'm and question. you Gen Thank as with start This

the our been such So of as said has Bumble, prior of I my response, pillar since huge on a inception college strategy.

after or to consistently that year-over-year much we connect have And as stay this as and And quarter relevant we seniors. to reinvent unique with able ourselves we have the been freshman to with really with hyper do ability the community quarter.

with have right? also them, this resonance strong graduate We to

beyond even the We've ambassador alumni. college programs with built

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potential resonant are really So with too, mission the are stance cares we about and to here, oriented. Z really Gen product good be authentic want we're more and about on do iterate is even brands deeply a one feeling the really double-click that to take I thing as The them.

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or So Gen topic. on moat. the otherwise, brand Women, other our Z, Z note one this Gen is quick millennial

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Billing? Choice User On

On as that User margins, don't Billing, to we any Choice have expect impact you know. on

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much We looks in still like. Choice very User of are Billing what phase testing

have the on if we will so And that, we in updates any particular subsequent quarters. share to

Your next Wolfe question Deepak with comes from Mathivanan Research.

past is the This the increase first just kind utilize for increase were we seen on services potential. in environment. Deepak. lever inflation guess subscription price on several Obviously, several We've Zack over price an consumer just of I of kind months. elevated

at you you've geographic just of a How needs that So core of year? kind the side. of this guys thinking kind And outlined second, this are year? about product to how count just think about And lever kind of the we philosophically curious kind increases you're pull if expansion. pipeline, on that's then growth looking Bumble should the robust pricing head

price to they're a pricing as optimization pricing question. and the DNA -- all think mean, with core start testing, of Bumble. price the and I'll So analytics about I price we

to something maximizes or and up point. is on daily Bumble, down prices adjust what elasticity to we a on basis. And and a the Anu's understand trying constantly earlier particular really revenue, might And user that do it Fruitz Badoo it's on literally are then have as

more opportunities on at change that, And increase say to moment, right, I we do the flip of decrease. to appetite material inflation. to we're it's to doing that. by see seeing willingness and a or where side, generate revenue, of advantage so where because the in not take pay Same will advantageous would we pay

up, -- getting wallets but X forgiveness, And have if to think, there's, will, other that coin you're you I are prices more might stretched. so you going raise that you sides if some

very segment-by-segment So it's very active muscle go analysis we we through, but a that exercise. -- that it's we're a

I we year. And question expect second about to we count think around invest and how where think Yes. head this was

innovator like heavily this best have sure teams in said to that do into that we to an to want the space. making our we need talent So continue lean products I earlier, the and be

cetera, around et map you road to we invest relates are as areas those AI, newer stuff et of especially learning, around things we product to the heard that all So earlier monetization sort have machine that headcount -- that cetera, want what of in. it

will a We platform operate sophisticated leveraging et And quite we monetization, in extensively. that for shared team cetera, things place very pricing, et have revenue already from infrastructure. like again, a we cetera, be remember,

we once this initiative take Fruitz in Bumble, Badoo for quite easily also year that So to create and learning well. for it are a replicate product as certain able -- we to

you these think about of definitely apps. that's sharing and of product lot tech for teams as a synergy So each between knowledge that happens the

to expand been that in one up requires companies we From of never those we've that in. show market every perspective, a to marketing teams brand-new go

every about in very, we market. are nimble We how think very growing about

ground headcount and marketing, the We the field often us about ground local and talk teams on that that hiring on hire big lot the require influencer the involves on us go a doesn't but to ground.

and to you'll a from again, expansion continue perspective. see spend very So us efficient be geographic marketing

from And public. just think lastly, -- perspective, have corporate a will I being -- years I infrastructure we've we this X completed say, largely is of

built largely have out. We

still pockets we and sort of We have couple to that up. of fully built there have a here

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with Your comes Steve SMBC. from Koenig next question

curious one Bumble Koenig. and interesting? maybe about you This Yes, how And mental markets? Steve that, health, your more that Whitney. close. fatigue how I'm around philosophy app pretty mature positive Maybe That's probably for kind as think of enjoyable position you contributor fruitful. is just your dating do would to be you, in

much. Yes. so Thank you

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in that So great and this, with Z, a Gen to we our feel are share committed year we particularly poised and to we have are women gain ahead.

There this are proceed. at questions further no Please time.

the can just you Thank conclude you. Operator, call.

call lines. and you and please conference your Ladies your thank disconnect concludes you gentlemen, participating this today. for We ask for that