Bumble (BMBL) 7 Nov 232023 Q3 Earnings call transcript

Thank you for standing by. Thank you for joining. My name is Danica. I will be your conference operator today. At this time, I would like to welcome everyone to the Bumble Third Quarter 2023 Financial Results Conference Call. Instructions] [Operator

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

for results. are you third Subramanian, CFO and Thank joining discuss Anu to [ Bumble. Bumble's CEO; quarter and financial Wolfe With Whitney today of me Herd, Founder us ]

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

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

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

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

call Thank you, everyone. Cherryl. joining Good for today. afternoon, Thanks our

the Bumble leadership. want exciting we moment the into dive announcement of to results, our Inc.'s regarding spend yesterday we third a I Before quarter made on future

January I succession than and that has result Bumble a and a announcement experience a could and to I the as Board and role to leader, thoughtful Bumble hard greater of find to thought Inc. Bumble product, our what decades heights. our XXXX. about Chair. background, into successor as step me Inc. passion We effective moment Executive Officer join and and leading company, the to Lidiane of this X, process. role a leader Jones, The who take CEO of serves team currently even at X monumental as CEO with of and will help forward. Slack evolution propel chapter business is planning have type to will is the deliberate next a technology Bumble someone Executive Having transition continue thrilled members, and Bumble were major to Lidiane's next Inc. time, in for ultimately win At This values Chief shareholders. of more Inc.'s as is her

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are future we the of focusing these well positioned relationships. priorities, on By I believe for

confidence underscore we authorization our trajectory, to stock are program the increased of from million. announcing has our repurchase $XXX in million business we long-term To existing $XXX Directors our that have Board

world. our to demonstrating on performance basis objectives moving and delivered and Bumble share across across Now both gained and on strategic both global the footprint Across our accelerations line users, our continued our top financial we QX, against results. a paying profitability. our execution saw Badoo, grow ability download in In to sequential also strong continued

million. Inc. year-over-year adjusted EBITDA $XX $XXX revenue adjusted XX%. Bumble an of quarter And representing margin increased XX% EBITDA this to Total million, reached

paying QX momentum revenue added X.X QX QX, App's users, by to million $XXX to Bumble million, we grew XXX,XXX an quarters. payers, up prior were in from which XX% driven the increase XX% continued X year-over-year. From

Our driven our growth on by the sharp focus is customer.

building and brand product on great expansion for strides making further women. We on continued trusted innovation, a safe focus are and international

and ever, this our Our on than pleased year. progress this stronger shipping front velocity we with is are product

core compatibility and efficiency, designed models Our friction are goal emphasize reduce explore discovery and engagement the that matching-to-meeting and experience remains kindness to to process. and safety, in new enhance the

is goal people get Our online to off-line. go to

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our kindness included are Bees is tool, Best the you AI-powered our offering showing and Compliments is that most As people Premium a match subscription while encourages you for Bumble who connections, curation in and message-before-match positive tier. our reminder, compatible is currently

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Bees. Best metrics and revenue for also seeing are We improved activity

X enhance Gen our also excited only serious not customers but These last offerings and dating more users. us As our better the needs Z to we high-intent, of current quarter, serve new introducing our and members. mentioned tiers enable we will to directly for be are subscription

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ways. Our connection express lower-price find focused our a testing. tier deeper fun members is is personalities currently level and in This limited younger on tier also on and helping social in their

Our goal is launch in tiers quarters. and both testing coming expand to

our features have increases all user the included learning positive these on and impact in we new metrics engine, resulted always, improving with As with under-the-hood experience. augment improvements recommendation In relevance which that especially in for user women. QX, our meaningful machine algorithms, in these are experience, optimization strong in

innovation, and We focus dating grow the as has download area Switzerland product to user revenue Germany, the its In markets remained we In Western France, internationally. robust and key for App #X app addition been Netherlands. growth. Austria, saw Bumble reach payer Europe, gained such a and to in in we share

Our appeal also and demonstrating performing Latin expansion is Asia global and America well, of brand the product. our broad

which exciting and million revenue milestone. an Now X% Badoo $XX of and revenue consecutive Badoo, sequential quarters growth add in net Other marks and for App X up turning encouraging is our growth apps. This to QX, year-on-year other year-over-year. totaled

registrations, We active monthly including also to improving users see across and continue trends many global engagement. metrics,

user brand identity key excited build aimed awareness improving especially intend plan to XXXX, this and on to with highly trusted confidence we this loyal women XXXX, for momentum safe app the with are base refresh marketing we among at real to be a users. their and markets, vision environment. supplement of showcasing As our targeted We a in enabling in selves Badoo's campaigns its and of express becoming in

recent we is the expansion in the Fruitz. into first pleased be to international the Outside of performance step in Badoo, U.K. of more continue markets. with launch Its its

weekly with product continues launch of Z Our the subscriptions, engagement recent optimization. monetization behind progress and features around addition paywall be new and Gen focus the revenue of of to

Now engagement strong, Z this app are out and including the the now so Bumble or we've beyond several by that been with Gen for MAU, and we retention, far moving has U.S. BFF, in excited on Downloads Friends, for women. rolled stand-alone to app particularly stand-alone the opportunity markets, seen have been the for growth dating.

season. ahead, QX, partnerships future development, and our increase are in college U.S. driving look leveraged In awareness. on continue programming during intend on we that and particular and student groups the we communities greater celebrating areas we awareness. QX And As around near-term via to focus holiday to in strength friends our communities in back-to-school this center

ways in team's priorities which are one to is we on results excellent across to our is making our closing, and and testament users and deliver our our us The hard is strategy for can. execution else building and work of business. progress a In shareholders driving dedication, enabling our momentum no

to the and And next investors None Bumble. deep be forward I'd appreciation this years. Chair. for forward role always, you, employees would their partners of all I by had deeply without express our all am grateful look stepping like to possible gratitude extending have to to these Executive privilege and opportunity as to as of how lead customers, Team Bumble's support. conclude, of and I all my and of our into CEO to as and I trust cannot this continued for

with much. and so that, onwards, thank you So

our financial Anu discussion now over of it will outlook. I to turn for a and results

forward to stepping forward Chair next afternoon, partnering Exec and months. you seamless on into good Whitney, And look you, transition Thank few on with Bumble congratulations Lidiane I the welcoming role. and over the to a everyone.

operating to apps. and deliver reflected strategic results We of our flows. our quarter family strong on progress third while discipline revenue priorities with continued margins achieved strong Our cash growth across

growth year to our year walk and stated I outlook for I'll And unless are QX all I XXXX. conclude XXXX. that note will with on discuss please before basis. through full a comparisons QX a turning view full for As year-over-year preliminary results, you our otherwise,

of lower million, to paying Bumble XX% FX benefit X% at Inc. $X time our than assumed users users and and we increasing for $XX.XX. contributed total ARPPU revenue increasing to revenue what paying Total had was guidance. growth, the reached total ARPPU with million up Both $XXX million to prior X.X XX%.

driven gains key App up well monthly XX%. million, Revenue $XXX active to paying users users in penetration X.X XX% strength net as was from XXX,XXX Bumble users adding markets. million, both by payer App sequentially. Bumble many in in was as adds paying Growth grew

year-over-year pricing sequential driven $XX.XX, a primarily X% optimization. mix was shift, The down partially on offset X% ARPPU by Bumble basis. was geographic but year-over-year App's decline up by

was by users Now and XX,XXX. On Badoo and to grew App revenue X%. X% and users, paying a to X.X million. Badoo million, up App Badoo paying sequential Other Fruitz App increased Other. excluding basis, Official, on moving Other Badoo $XX and

at and flat and App Official, Badoo $XX.XX. Other excluding was ARPPU, Fruitz

stock-based excluding comp to quarter, expenses. other non-GAAP nonrecurring up expenses now total GAAP On and expenses noncash non-GAAP million, Total or Turning and the our and costs XX%. for costs million were XX%. basis, items, $XXX $XXX up a were

was of grew $XX million Cost revenue and XX%.

XX% revenue As a of with period versus higher revenue, to of as fees mandate. due was percentage compliance a in Play mostly year-ago of the App result cost Google Store the XX%

XX% grew represents the XX% period. Sales This to and of million. marketing revenue XX% versus expenses $XX in year-ago

G&A revenue year. of to expenses million last or or were of compared million XX% revenue XX% $XX $XX

million Product $XX X% versus expenses million $XX development period. the were in or year-ago of revenue X% or

GAAP reported We $XX $XX to last earnings million QX year. million of net compared

adjusted $XX ongoing EBITDA $XX margin. exceeded reflects commitment a guidance and million discipline. of and adjusted our XX%, to EBITDA We $XX up of our financial XX% delivered million, to representing million This

pleased remain margin disciplined are While the towards we continue we full costs on in to apps, for the year. our and invest our target with growing progress

to sheet. balance the Turning now

QX and healthy cash with cash free positive remains cash We equivalents $XX flow Our generated the ended position of we million. million. as $XXX quarter cash of

million, $XXX which XX due is million $X of was position debt total next months. over only the Our

buy And remaining shares program. the million share incremental million million, leadership to Due to announced aggregate. today, $XXX authorized not quarter. did QX, with back Approximately remains the buyback our we an on we total search date $XXX the authorization during of previously in in $XXX authorized any bringing million, $XXX repurchase to

our our buyback resuming returning and to committed are to capital program We shareholders.

XXXX. year financial on for full to our moving QX Now outlook and

While usage East current of year, rest and resumption the to Middle general, look to student macroeconomic strong trends in the as we loan see monetization we continue are of monitoring backdrop, in we war the and the including repayments. the the in

Additionally, outlook. FX are on our seeing unfavorable prior to we trends compared also

of $XXX As XX% between QX, expect $XXX representing following. the we growth and million midpoint a rate million, for a revenue result, now of Total range. the at the

assumes million to outlook our time than FX worse Our prior had what we impacts at be of guidance. assumed $X the

mostly ongoing outlook $X Our Middle impact also apps. in East, the of from assumes in million the Bumble conflict

million, $XXX and revenue a and Bumble $XXX between App XX% representing XX%. growth million rate between

impact time assumes in had assumed conflict million addition the impact than of Israel. prior Our $X we the what to at FX the outlook to our be guidance worse from in

net which paying With expect adds XQ of users, net adds to implies at XXX,XXX respect for of year XX,XXX approximately midpoint Bumble the approximately we full sequential to the XXX,XXX, range.

be expect net to to adds flat sequential We slightly Badoo in positive QX.

EBITDA QX midpoint adjusted $XX million margin representing at expect between We XX% and the range. of the million, $XX

XXXX, representing of $X.XXX billion worsening XX% billion, Israel guidance impact translates this the between prior a growth in aggregate conflict. $X.XX and full year million For This rate total to and to our from a XX%. assumes $X FX versus revenue

guidance a rate million the representing revenue $X $XXX total App and be to FX our conflict. in worsening prior between Israel aggregate XX%. a growth million, from Bumble assumes $XXX impact million and of This versus

expectation margin XXX of least maintain For at of adjusted our expansion. points we year-over-year basis EBITDA,

ahead very excited we unchanged, the of XXXX, we business. look strategy fundamental are future As and our about our to remains

exceptional We and that users the and brand by nearly million have used an loved growing. is paying around globe X

We our have users. innovative pipeline leverages a for safety strong technologies while product prioritizing that

beginning potential opportunity tremendous see are continue our in just apps, countries. and to to we expand realize of reach more We our to the

from our expected refine leadership At process, growth expect also for apps. stage of time, into to year, we work our of planning trends are our and solid takes another family we outlook seeing our early same the of plan, preliminary we our next planning As the succession consideration headwinds the FX. year for

year-over-year rate to headwinds growth XXX rate be approximately approximately On FX-adjusted basis, year-over-year Inc. of to XXXX are basis total the in assumes As estimated a Bumble such, translate FX. for low for teens. least at revenue This assumptions growth initial our points of this XX%. an would from

will on As finalize investment we being our disciplined spend. next year, our priority continue for we

year. EBITDA margin XXX year expand We expect XX adjusted next between basis to full to points

a next more outlook call in comprehensive will We when we our share results. QX earnings discuss

like all for our I'd driving end, to echo work business to their Whitney's thanks I in Before hard forward. our teams

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

question first from of Your comes with line Sachs. Instructions] Goldman [Operator the Alexandra Steiger

Congrats, make Whitney, that little announcement? think the right do elaborate this you on Could the on company for on on is questions some transition timing first at more role. you new Maybe you maybe When factors one bit timing. your a the you time here, versus the inside two the look why of outside, to move?

a to with listening this terms played the is it fast-forward and And few And her extent that you valuable of then Lidiane, Bumble? AI features very bringing for second, has background be past out AI services. some in appears the it going To some products a she AI interviews could have focus quarters? and what to of initiatives in into at existing

Thank you for questions. the

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allowing this fully to beyond Bumble get So think the founder I on don't and with that be. how day-to-day you Inc., mindset pair powerful into are her of opportunity. move remarkable me, behalf a me recognizing can people it's

new ultimately, really, products. it's but allow business, drive to across to going us drive So innovate the both growth

second a question, your moving Lidiane just now about talk And into let's moment. for

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journey, edge. opportunity, a us And the the massive we experience. think about what the excited member means And gives member competitive this so we're this so for

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JPMorgan. from comes question with next Carpenter Your Cory

I had two.

you the expand macro on that hoping first, could impact Just seeing. you're

But You thank Curious, Badoo you would contribution framing or from called loan and is and student And the where Badoo any App payers? then 'XX ARPPU around ARPPU this Anu, a most that Bumble level, repayments. impacting put App, you payers? Bumble business out initial at high across versus guidance. the the versus for expected

can I sure. that. take Cory,

price-sensitive our going it more younger macro, are like student well. users So on loan the prepared that largely are the the said my obviously repayments we in by our Those to be impacted remarks, around users, are I seeing as users.

We are much seeing broadly. it not more

adoption So quarter, on for the Premium seeing it are Bumble example, relates stayed rates through but little steady the as younger we have bit of Boost. pretty a Bumble to users impact

it's again, by on, keeping So Obviously, that is a certain we a but it something this. think more that is to eye are cohort limited we impacted U.S.-specific this a close issue. is largely

Badoo. on seeing Bumble are we versus much So this on more

To imagine, the in very lot of ton question, product now parts how we road bit just are And guidance, say the what of international like, thinking on middle looks stages your on thinking a as about a plans in XXXX. the are. around in terms there of those is teams putting what you are I XXXX are elaborate our moving of all very, that to deep excitement paper. of are second map for we will and little the planning next about still how are there very still much obviously, year a we can

us this so very, for next for year. means very far, about what And excited we are

succession we CEO place. wanted provide recognizing in of context that into all next a year, some some have you to high-level transition going numbers, can We have so

thinking into year. we specific a so And QX in teens. XXXX have least X-point revenue, we FX about at do into thinking X- like now, evolving said, next earnings be guidance. our I Right total the of Inc. as and will we low get are to We our headwind

total about So we're XX%. guidance. that's of Inc.-level FX XXXX talking about ex why on basis, a on an That's thinking basis, like-for-like you're how about growth

growth to strong the are you a we Bumble stabilization. Badoo, additions the which user year. still be as it, a Official in good of but plans, components well look on will contributions perspective. contributor at lot also a that exciting will And do see some will BFF are have excited largely path Bumble a to business. very, of monetization it If very testing next Fruitz We be as from is from we and

to are. slightly are where that again, we Bumble more growth looking on you growth For rates at assume App, rates come the But revenue company that. above should

low let's So say, are at Bumble App looking mid-teens to guidance. we where is

this We'll a focus contributor payers year. line big means for cetera. say talk more I will be revenue next us of just And truly continue that year, versus payers ARPPU, next in about the growing to for components and But for et be App will a items. strong will what terms Other then Badoo also of Badoo

very EBITDA, to expanding we are to guidance margin XX basis been And of investment. XXX given fully we've margins preliminary the for then expansion areas points. haven't now while. saying by finally, on committed of all We've still a as finalized about We

about want that in And et adequately we just to investment Whitney investment expanding terms in hasn't changed. for sure so providing margins commitment But cetera. our talked data, AI, we to make in that are of things

at sort So year. are again, provide thinking of more about these level, blocks specifics. we a how of building we'll the high next are But

Citi. comes Arounian with from question next Ygal Your

the see some of to if with together wanted we here. tie could leadership guidance I changes the

outlook, know the I XXXX talked leadership plan. you building preliminary about, the so on And in

Executive You're help those product, and seat, kind about the putting investments? going then finalizing around Just of of understand your moving make And How flow think how priorities. Still transition? all you will that are how through. to Are strategies? pause? us do Any change in on ton you Chairman obviously. Whitney that things a onboard to coming focus you investment Lidiane with

Yes.

that and is expect as I out right? consistently doing. we think we with something been it, been started our And we've what public, focus largely that strategy at focus been changes we went that that, blocks And following first Whitney innovation, focus on you building level, mentioned been has next year changed As growth don't with that high we've on about us. haven't when for consistent a So think we either. customers really earlier, very for brands on have

and obviously, see is that, what to what background tech, been last drives will definitely for we've few and I product with again, think in we dissimilar of us investment area the saying be Lidiane's That think an not that years. for I talk our she to obviously, wants the engine, And continue the ideas she'll very think on strong sure about that. comes us ramps you'll so that to then up things as I'm and business, do. she have in of

So fluid that's high-level we of operate will into why with as some as least at XXXX. But we about I think think this year. that going gave be next wanted sure that get for guardrails guidance, you make us can into you we our everyone to

that was at very attempt a really next for guidance So giving year. the high-level

from Khajuria question comes next Evercore ISI. Shweta with Our

of product one just Let subscription in me please, the a is, provide color tiers, in the X both lower no could for timing, pricing more thought on quick the One try rollout two, And you the on please? is then please. terms that's repurchases plans, why the the quarter. and second priced

Sure, Yes. Shweta.

were back shares were just we on to in a legal shares, unable considerations. leadership because didn't quickly why we Just middle the search, we for the market any of buy buy in

So shares. weren't able why to that was we the reason buy

for I'll the And Whitney to turn product. it

question. the for Thanks Yes.

subscription Plus. different about let's tiers. at Premium start the X We'll So talk

pleased largely we early indicators been long the a We requested a experience. better and itself, very really of that say, time received I now have that high come Plus. experience, excited over intent, the we're we features, of and want a to chance actually a Premium one really by could right? most Premium underpin curated, has other We've of layers seeing. match with it because You lot of more this have a more are saying and the in more, Plus delivers results it about thoughtful this been with early there's that

So coming you an update quarter. expect can in the

moving on that this base tier, Z particularly experience types to and personalized Gen is then different the really enjoys. of engagement more And the focused

peers are meeting what few to age understanding XX- XX-year-olds And the even looking and on it, for actually to call listening, on being this way, ground years express quite themselves, the at so comes really are looking a when older. older their different it is So we good to cohorts, themselves, is group the people. than just

base today, that specific a early to but point. so This tier testing is for intention about. price I and with can it is timing that really next experience publicly what pricing all now, of generation. you we a engaging will have is right be and And that's creating expanding low payers tell It or share in don't more the

ARPPU on experience of that, Meanwhile, much to to will a will be of be we other believe more offering. Plus that barbell, that Premium and side the premium premium than And current more blend obviously, expanding protective premium while the this the payers.

comes KeyBanc question next Our from Justin Patterson with Capital Markets.

Badoo. Great. I bit wanted to touch on little a

are timeline How really doing about refresh start and the you toward XXXX? year. into that, restore thinking user to helping identity next just mentioned revenue growth for a growth had and You brand Badoo

Thanks for question. the

know you Badoo. what, So really about we're excited

key Badoo, are and great they really a one leading have focus: We team build on confidence. anchored

is quite a remarkable this So finding.

they that it low viewed. feel don't They high super dating to great themselves want about they'll confidence. think how of efforts have They're these continue, today and they meet They that leading these been that speak someone, go find results some we to audience but the to you to really and we've to lonely. intent leading been we you're Badoo members If pertains that prior what the be reported expect and have to they have say someone. to seeing when

And XXX% team has anchored so around the that.

rest coming can the imagine throughout the These will year, of a the you nucleus are of that So a be hero early relaunch. campaign, brand of XXXX.

ramp here to working be world. the is really customer from see efforts the And you around pleased think everything I points. will but pain domestically the backwards also

are tangible to is leading solving results. issues, So members' they which real

here everyone all-time note Demand high. super right? at I in. super today higher isolated. relationships there's disconnected. for actually tuning is We're lonely for society. is love for an ever, think important a Demand We're than We're

products, solving our working. such love to does been real we clear said, lives. of see of intent us media not to already and all introduce confidence has giving Social potential proving Badoo be for this our That with

So for really early should results with stay the the speak tuned. We're themselves. excited progress, and

John Our next TD Cowen. question Blackledge with comes from

questions. Two

App year? great. there, products, are that you and growth kind in more quarter they paying of users, the are geographies payer App so ARPPU First, on driving Bumble more user the paying Compliments and provide Best color And be or on Bees, some would what recent growth both? for If the next key just can or fourth then Bumble

Yes, sure.

So payer as sure market. have we growth we think focus is making about payer across growth, that on every our

U.S. that obviously, focus base to we user to continue to for we will our grow So us, and a big the continue be sure make there. want area

So see on that. markets growing focus you'll us well. really extensively definitely international our Obviously, are

So like this a focusing as is again, the just we not are into going 'XX our U.S. are statement, outside right, English-speaking important. well, Australia, the markets core on QX hoping, U.K., Canada,

Europe, think, dating important are saying the especially as Switzerland, in where app. most payer again, like very for like market those for second we've are be Also in for Again, additions Western markets will downloaded we us. markets been a while, France, important I a Western for Germany Europe, has strong been now us. us, countries Netherlands,

there. making a so sure is a us, India, especially have big user Asia, users active sizable base for of we market

that at. sure And heavily are on. we certain focused are making Asia well something green There as we the launched LatAm. increase on. have quite in is that markets shoots markets in recently, penetration So then payer Certain that focused looking LatAm we've other is we there in are that team the

and growing we enter as slowly, get we when users. Obviously, focus start paying market, they active our to convert is say, then base, users, sizable into a a them base the as to user on new always then user we

So growth same. about we international largely our think the playbook is for how

the out in obviously, are, We middle which countries into enter new figuring we of exactly will year. next

when we'll So in on look details back of we come more forward that. to providing Feb, sort

a these it Bees, how or, question payers, Compliments is before, depending cases, And to ARPPU often of then relates in obviously, this as drivers we said product and can of be second Best around on many both. your engineered, drivers

of now, Right is are from payers. of these very new ARPPU For say, both adoption but is a we've both to will payers much Compliments gotten still drive as result goal definitely higher an of I metrics. seeing driver. that, products, we existing Obviously, these our

So seeing say still on early as Bees Bees, well, would in And the then days. that ARPPU. reflected is Best I you're Best

part we before, said now of Premium. it's Bumble As

point And product driver adoption Bees. we people Bumble so refine it. strong as continue entry out a we the an seen becoming from to as to and build payer we But Premium entering we've look forward it from to continue Best

with next Our comes from question Mark Kelley Stifel.

two had ones. quick just I

I App. App. good new 'XX one The you flattish Bumble point just for know, said of is the with That's Bumble ARPPU first It's that the would first a protective just them ARPPU. tiers Whitney, of on one. they starting see X kind be pricing to for

for phase there's And then in that I early should understand next the to look operating that moving a the we out you're second you're planning for of for line year? calling one, items 'XX completely but and pieces, guess lot leverage what that

of both take those. can Yes. I

of be think I sort talking and what bit a next early it's to like little will about ARPPU of takes the look year. puts too

function we of mix. are the that things. markets. includes products international includes our new changes ARPPU several doing we is a think that It It It are includes different launching. in I obviously, pricing

more I'll just exactly us for year. what looks next say, like wait to on details ARPPU So provide

if that users is have. across to goal the at think different are our we sure you pricing Just about a make ecosystem the we tiers, payers more high of that capturing level,

premium for an time, Plus opportunity the as if Premium a ecosystem directly it's driver. case, be potentially and about then you our non-Bumble into more, an non-daters goal then upsell which driver. And so to users payer would ARPPU think over well, becomes which get to in becomes And pay higher-price users tier, it and the existing

then in a payer And conversion. the tier, would the beginning, largely lower goal on to be be it for our

for of Bumble or the demographic, necessarily We Boost people especially for lot on don't younger have the pay use but the Bumble then our want Premium. of side on today, app of to app a sort that free

used to So to product way for start a having getting the tier and feature. lower-price the in payer them allows pay a

say, is of one, in the for managing ecosystem, Again, have ecosystem goal definitely to products are healthy. would would we be a our sure our subscription constantly So the to that that increase payer as I continues we goal a to we be that in our make driver. be that that number way

the dissimilar it think, operating leverage, too around I how question year, your blocks you we on then again, next to about be XXXX. in if for And building leverage think won't thought about

high, knows that to you and I've we will the is this So that in products see bar. for before, so innovation to we is make that and what and growth us want sure But always investment continue invest, continue high us. our obviously, said strategically for bar drives to very company maintain technology. again,

us want that. you'll spend. So on to leverage We invest continue areas see of show marketing in to

going always important for us. is brand to our building So be

percentage then towards while as a leverage try get get of other So is and as hope some basis, it And on that have will as we our see revenue in we leverage areas we always bigger spending such G&A. more, to be we there. will we

of right is largely to to more what now. cost come. revenue you're Hopefully, think seeing I Again, likely steady to that's be going helpful.

next with Kuntarich comes Chris from Our UBS. question

you're a that about of stable to be is that low that this revenue cadence? maybe throughout right sort teens, kind year-over-year Or deceleration you be low year? down to and of a of one now of year what at double just the mid-teens on we of the think growth as XQ. kind growth for seeing about for in kind the relatively guided help cadence I this low of 'XX the from confidence you least that end to thinking about level you midpoint think at Just XX% guide full going us can of digits? Should the throughout gives

Yes, sure.

be little bit sort is. it's of very cadence guidance think So again, quarterly how too of the a think early specific I numbers we to providing

growth I think way the that are we at are looking a about we we're today. high level, rate today, if seeing that is it thinking we rate you the at look at seeing are the growth

at looking we have. are the map that road We product

we bigger have And things become already outcomes. to know at that we range and see the next we launched are a looking will of then We year. are or either already start in testing

but to the year. we be, about what feel number again, come the overall will good So exactly quarterly cadence the more for on

Morrissey from next Zach with Wolfe Research. comes question Our

just impact to, macro guess, kind I the wanted the I about of business. consumable ask on

seeing being the lower the through of seeing business? of being on that kind more are the the income side affected, of stable. kind about But premium of kind talked users consumable you You I what guess,

Tinder you in And in Europe. certain the their in then marketing provide competition update what of markets spend an curious, marketing side? key and from out competition increased on of seeing those secondly, Can of called of kind kind just especially in some markets just of you've increasing you're kind terms

Sure.

as side, consumables to you subscribers our paying the on most are users our of know, also products. So

business the of is numbers consumables, think on So of the we it. of smaller seeing Consumables steady. I side over-index composition revenue. hold the about we subscription you Within are largely think if portion a

are we really looking big sort are we steady. largely been not Across what of seeing impact So age think I any in it's at. groups,

out for So out call yet to nothing us. something stands that really as

general to talk are you do just about competition what we marketing seeing in want and Whitney, then, date? And to and

Yes.

my into in superpower step This ours years. role. skill is such excitement this Executive that forward Chair brander. heart a You brand such over of I'm piece unique a my a the big have the going set, and In I'm know up a we of marketer. what, the my this and is into built

once, never women, moat. dating-related we And we have have really category. we'll seen say that we've again, said have any this with before in And been with a it loyalty durable so customers, such

don't really dating hats the walking see app You around street.

brand a merchandise, and into to XXXX, we fact going to where the us fandom beloved love, in to of our create this into around so wedding, put level, is so that beloved this shine. attention want I'm are integrate that our mission we take their take the they Friends. want have next level, community they Bumble proud us, to And Bumble and our that evangelized, next much the for care And

thing in the out, Another worth connection, Bumble Friends is special. that calling women, the so have particular, to for that's connection, emotional

our excited. where get I consistently brand just opportunity symbolizes candidly, that ourselves, trust, unique scale so think safety. to Our to respect, you When really about this is message,

product, exciting next So all that and of any chapter. a with got threat. paired From AI, irked, we're And not horizon about and this. concerned brand innovation standpoint, for marketing moved, a the personally competitive very we've I'm ripe

Feather with Morgan question Stanley. comes from next Our Nate

should forward? or growth And in about kind broadly given going will guess authorization, and features revenue are think more that share maybe cadence key is of the Nathan product road then the of we X I you're 'XX? Feather This on map, for increased Schenk. what thinking the X Lauren the buybacks allocation the drive how of buyback expecting capital

Thanks.

I'll So for road map talk product a the moment. about

an about brand build all-inclusive super is of we're Plus. bundled as ecosystem be going extend subscription. So the see built a within today. that around features Premium going to and this a beyond to excited This exists just the couple to We premium going our entire to be into This is that is a inside more opportunity experience. brand

go We also off-line feel that to there leverage the online is a for huge opportunity opportunity. this to

in special someone right impossible You nearly world, consistently place the It's to right meet too are "I It's I real to the that the be people hard." at time. to meet have but literally people saying, life. So real want can't. in at

is off-line. Premium meeting people this So incredible but all-inclusive gateway leveraging also you Bumble Plus to via getting

about looking not So incredibly driver, from folks excited driver revenue Premium It's Plus. just growth driver, a something share more a loyalty are for a real we're that these serious. recapturing but

Premium Plus So exciting. really is

date, feel really App this well and yourself. AI is of The way this about other inside own thing to about it that your never build translate make friend to this because best feel didn't pocket good you good in of you I delete it you to confidence, help confidence, you in to Bumble Bumble would app so back leaning into as generative its theme be to that using see say will

engaging and in So new and XXXX. And really that for people experience of I these in goes leaning discovery overhauling think Bumble other really going we X.X the a entire the as well, college-age product mechanisms capture much audience of is offerings end into next barbell the the to but terms interface decade. to that are higher be really

quickly capital how said allocation, allocation. on overall We've And has our changed nothing think of we about Yes. to capital already terms before. just in touch of this philosophy Nate,

and in is invest Our to goal business, our first foremost.

of definitely ahead of extent envelope growth that do make a organic be we've M&A so as the something take we interesting if to said margins of from Again, have for makes an we for we that ton and is sense. out us, look a opportunistic And within high, will before. we set there perspective us, we'll want for the that But is have ourselves, something We the bar sure that. that. there's at to

gives We always the from capital another said had now to to buyback of what in you ago opportunistic tool want authorization be we $XXX in us a that's back increase million. shareholders. how see And reflected about $XXX repurchase we quarters that return shares. we've couple then the million that to buy to And back the

something definitely intend of very, to to in doing. do specific shares. out cadence are in terms back But of be see you'll very buying call us it. we we nothing how focused this of So on opportunistic terms is And that

Ben Deutsche our at Black Bank. will We question final from for take today

of to and product about obviously, AI, supercharging product well? also Can potentially Whitney, you could us development sort And velocity supercharge you you do some of innovative launches wanted double-click AI just safe Bumble? human on examples support as think give just at of AI actually connection. how the you've I spoken can new

Thanks question. for the

be second part next-gen is, exponentially So yes. let's going that. and this both to externally, internally with the ramp able of tooling is technology but start AI is answer velocity technology to faster. short The the exist Where that

actually supercharge how tangibly and can Let's talk connection. this about love

the to be people to very are very Right meet passion, algorithm incredibly in They can think of what algorithm. look to And hopes ability for AI I the innings about Bees, already, business, compatible AI, just the AI at you come for exponentially to shared themselves, that that and look to do. enhancing desires, baseline them, here than want if to basic will our meet to particular, is good additive and have can reason is to why early business come that so match, do. will because is what now, product people shared to So say the shared future. Best them chat, our algorithms value dreams people. higher our feel at make value, They the the with AI that of yes

going to I'm other about of then the And talk facets this.

world Let's someone. through to just now. hundreds, where special Imagine have focus right people for to you swipe your matching don't a on potentially find dozens, of

to don't someone find endless Friday to You to people have out a swipe through night go for fun with.

matter the is from so You in is moments, all clip this a today. technology, what different effective than and an efficient, more voice, seamlessly, photos, someone person can detect exists different that currently integrated into we're such safe, way this reading available in AI can their ways the implementing, when do to product, ranging relevancy, of much just working perfect that on technology you deliver through all

driving So to multiplier too there's stories, be just and of high this compatibility that. extremely is while right, already to a going many success rates count, of we're

very, way of The the quickly from AI at we personality, can into then profile, best you very the really do. form a that short very, this Now somebody important yourself that the your early we innings understand extrapolate and are just build in let's relevance with condense help of else. you really what move to determining before can wrap. is facets other incredibly profile, Expressing

X So I day of those the small value time extremely additive. are AI interest X think be on can where in pieces just

piece I an from AI bot say last The standpoint. would companionship is

humans replace with here machines. not are We to

not do program here your while wing your is are therapist, looking we give what business, coach, bot bots. But tailored a person, you your the can friendship, your be to whatever with humans replace to you companion you're here your for navigate quest love, for. pal, We

in very us and the the very, the in this I about at are exciting. early leader we're extremely we is think hope my I And enthusiasm joining opportunity. brilliant it excited something reflected buyback So how of innings

appreciate gentlemen. concludes call. and All That you, today's right. joining. ladies Thank you We

disconnect. now may You