Bumble (BMBL) 8 May 242024 Q1 Earnings call transcript

Hello, and welcome to the Bumble First Quarter 2024 Financial Results Conference Call. My name is Elliot, and I'll be coordinating your call today. [Operator Instructions]

I would now like to hand over to Cherryl Valenzuela, VP of Investor Relations. The floor is yours. ahead. go Please

joining Financial for CEO; discuss First Bumble's Anu Thank With us me XXXX Bumble. Results. CFO Jones, today Quarter Subramanian, you of to are and Lidiane

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

are reasonable, any expectations undertake no changes Although occur revise these we call. we obligation to statement that believe reflect to after this

Descriptions of in for including report on factors are December to year could our filings earnings and forward-looking in our from annual subsequent ended filings. periodic discussed and cause SEC, our actual differ statements risks the XX, the XX-K these results Form XXXX, press that detail and more release materially with

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

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

Thank afternoon, everyone. and you, good Cherryl,

first make have it had We a continues very XXXX. Bumble move, and the productive where women to is start today.

our CEO, to energized Bumble relevant on about my where I'm are, focused approach connections As Bumble's always more That's people's ever. equitable days create position Bumble coupled our experiences. makes mission, what even the customers throughout I complete women's world to and more with than and been healthy product-led first as XXX meeting they unique Bumble by has help lives,

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basis downloads data, on App's worldwide in through third-party Based an sequentially on QX. Bumble absolute year-over-year and

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of Adjusted EBITDA in or million QX XX% reached revenue. $XX

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map accelerate for the at more looking we'll BFF months. actively Bumble share to coming are in ways and We road the

the we drive has And future talent evolving of safety. and to more the to innovation lead AI accelerate important compatibility, and Bumble AI and since experiences, our As we're trust offerings to in our in data, profile it's embracing creation AI generative roadmap, rapidly the of intent in enthusiasm the ways. strong focusing technical into better incredibly today. continuing been company integrate on customers' team's see our start year, exciting advancement to our capabilities understanding

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well not in The staying doing and rallying first society champion I'm women, also mission for more come for just work committed executing but important this our demonstrate around together the we our apps, and X that for have of we're team to effectively. in months values grateful broadly. year to and

ad support quarter, Equality" joined industry of health XX of in Ban from care. to "Don't range participate reproductive business peers a This prominent the we proudly latest in coalition's campaign

introduction of a U.S. cause bill cyberflashing, state that at backed to level. the We a the successfully federal are celebrating we years for also fight have

to athletes of watching the the be LA of play, proud athletes are to was play also the Cameron, women joy at Draft sponsored parks. Brink, a we Bumble selected for Cameron I'm love and Bumble's cheering U.S., the team entire of Bumble's the one in in student you. you and WNBA support it watch

thank going where our given such the I'm It's we you've been and filled Finally, our can what support to can in our and with to confidence Bumble. accomplish all what partners short amount achieve. about all, time. I and trust of above customers want enthusiasm see a we're of we and amazing gratitude, shareholders, for

on I'll results Anu and And with for that, outlook. turn over to details financial it our

Unless you you, basis. are outlook afternoon, everyone. I'll walk on quarter about year a comparisons our and all for year-over-year XXXX. our results second through first share otherwise, stated Thank then more Lidiane, and quarter and full the good

high to users XX% end Total Total our Revenue exceeding million, outlook. $XX.XX, increased Bumble line XX% X%. the of of Bumble XX% outlook. with in paying $XXX the down the QX end App increased to quarter in for our million, and increased ARPPU Inc. from $XXX X was revenue million, to high

by expectations. $XX.XX, paying to ARPPU declined App's users to mix driven geographic X.X slightly growth was due Bumble X% million. in which added our paying a we On shift. sequential to growth users, revenue basis, increased The XX,XXX XX% above primarily

our of driven markets, many We within optimization. including the pricing individual U.S., year-over-year continue to see ARPPU improvement by

grew App turnaround milestone X Badoo this QX million XX% to and of to ARPPU million. growth revenue Other in App X% year-over-year an and and of revenue X.X declined brand. for Other Badoo XX,XXX the $XX App positive marks exciting consecutive Badoo paying to Other increased sequentially. users grew $XX.XX. and X% Badoo, quarters

including a in App Other As from XXXX. and QX Badoo Fruitz began reminder, we in contributions KPIs

across X% previous now Consistent million the of with year-over-year we've diligent a the year earnings spend compared to net growth. continuing QX for of all $XX areas while million period. were to million were $X in business ago quarter, expenses. remained $XXX costs the down and quarters, loss drive revenue Total GAAP expenses Turning and in to our

X%. $XX nonrecurring by and onetime QX The Total severance our stock-based decline offset basis, charges noncash compensation was in compensation cost margin million, end of a On $XX largely of related or driven a expense adjusted exceeding million. related was of excluding million, reduction, items, up decrease non-GAAP were in XX%, and by partially expenses EBITDA high and headcount cost other to outlook. representing a stock-based $XXX the

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

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

the a stable for rest the expect cost to of remain of as year. revenue percentage We of revenue

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

certain moved that QX campaigns the with Our to Bumble spend QX to anticipated was align timing than marketing of product lower App due relaunch. to from better

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

drive as continue We item scaled. to have this line in revenues leverage

the at were million ended cash We expenses year-over-year development $XX and Product and of in equivalents. $XXX revenue. cash million X% quarter with flat

to our worth date shares authorization $XX million. an million from incremental and we the a repurchased During very to $XX $XXX we buy first the including authorized Blackstone. buyback we $XX and repurchased remains million At using quarter, at current our good buyback end of We of $XXX bringing million in capital the QX, remain total to of announced our we shares, remaining authorization, directly million, levels back believe to program, strongly today, committed that investment. had

Now moving on outlook. our to

As Bumble of App's rest of we look last QX several and we relaunch come. of we first to are the as phase just unveiled excited future week. this And about Lidiane beginning ahead mentioned, very the to the year, the chapters is that

from with reaccelerate expectations benefits second call assume features, consistent growth and that trends shared our with QX relaunch, will app of of we in outlook, on the release along continue for prior earnings of improved App that in will Our trends current the XXXX. the half Bumble additional the

for year-over-year Adjusted expect growth FX rate of revenue this QX, between for million we X% represents growth representing to year-over-year to result, a total headwinds, X% $XXX between $XXX X%. a rate a and As X%. million

Bumble to for and growth million, a expect year-over-year rate represents million between representing this X% $XXX Adjusted app between X%. year-over-year be $XXX revenue X%. a growth to and rate FX, We of X%

of will the between be midpoint We XX,XXX million, $XX expect of $XX million Bumble in adds representing approximately sequential margin App to adjusted the XX% QX. estimate range. XX,XXX at We EBITDA and net

marketing As previously campaigns QX, marketing additional spend QX quarter. delayed result certain in mentioned, we which will this to from

for for total marketing the spend remains expectations unchanged. Our year

to rate we For XXXX, full total Inc. year of expect revenue Bumble growth X% XX%.

XXX,XXX. of points. we note App that previous Bumble for incremental unfavorable outlook between XXX,XXX Bumble to XX% trends to year-over-year. to XX adds our grow net revenue basis maintain year least expect We levels, an our more and have We approximately FX of become expectations to App We at current at since full headwind X% expect revenue

in-year our maintain conclude QX, includes least reduction, to year-over-year. margin also expectations. of EBITDA our workforce points which savings with expected the XXX outlook in impact basis from We for This prior expansion in adjusted line is of our early at

OpEx savings $XX track million, which long-term on of to are annualized million we to drive reinvest We will selectively realize of approximately $XX growth.

outlook the expected which expected excludes and between As impact severance $XX our a EBITDA charges our is slightly $XX onetime transformation, below adjusted to now other of million to million our reminder, estimate. related be workforce and previous

with further have we our our strong a our work provides our QX foundation in strengthen the to closing, In done pace accelerate bench leadership to rightsize and team, leverage of innovation us right and we large brand. powerful believe market to the dating for the online measures global growth We are human opportunity the taking more accelerate and capture our in connections broadly.

substantial path We ability growth are and for value to confident and drive in our shareholders. profitable our sustainable,

turn I'll operator over that, With to the it for Q&A.

Our first KeyBanc. comes Instructions] from Patterson question with Justin [Operator

Jakubiak for Miles Justin. is This on

little some weeks. around Just strategy over It marketing, and first more the are talking around campaigns about bit brand you your marketing. like saw a I guys your college of seems few last relaunch on the launched

how you So just curious the strategy that? measure performance against around relaunch your and around plan guys' marketing to

that? And early if affect this year on impacts in from ARPPU pricing if any any expect that you've to curious direction? you then seen optimizations, And guys

for the question. you, Miles, Thank

was Bumble with week start response our our Bumble experienced us with a very brand, our company, response positive marketing. we for important me the relaunch. -- as an certainly and culture-defining that It big from team a to Let App I'm to very a for customers. was for moment milestone of proud and the recapture the Last

be approach marketing an with are our flexibility digital, mentioned, multichannel we us achieved us in large our strategy, certainly to the younger also, to reactions, our of feedback, network. more approach all We very certainly out-of-home week. press our as different colleges gives that you and our lot but conversation as aiming received a relevant broad influencer well very a engaging more. enough and just reach base from broad users but so program taking last to are releases We for not as ages, ambassador allows customer only much This --

funnel first at with impressions, from at we're transformation, with We relaunch. forth. so So is we top how experiencing pleased funnel look along look the full a the week of different customer perspective. marketing a of And metrics downloads apps a our and couple since sentiment the going analysis, from

But a see is I enter passion not amazed customers the Bumble Gen for launch them. the the incredibly most brand engages expressed it only conversation, be allowed also great for opportunity customers but our that importantly, at It the Z us to us that during am campaign. are for looking that to brand to with

well. In terms look of as broadly at pricing, pricing we

the us term. a perspective the a going We to great for have from still growth very across feel we that So convicted monetization long set in early our journey tiers up subscription company. are

is our value these our and believe to months us in introduced remarks, about that all subscription across of a allow only subscriptions. prepared we talked will newest differentiation few more Premium+ time ago, we adding accelerate revenue As tier future over

important matches profile Last matches with introduced are at For helping and way really along helping clear capabilities much week, the algorithm. our fastest a their get we improvements for including focused couple improvements increase customers is conversion Premium+ of photo You That possible. and analysis, on across to aimed tiers. proposition These very our more ARPPU our value curated

We Raymond Andrew with Marok James. turn now to

the there's mentioned the you've you've On it's launched in lead these and what ones that around? kind I'm date about process, message of interesting create continuous to new brand relaunch, and the specific again, plenty wanted features to sure But pipeline. more a that with made that that you them

Make and has that us signature experience Thank signature bumble reaffirming customers today. you, experience reinvigorating for our is to stands aspect product Andrew. women. the Move The for remains been One and our important First

and them, in an women autonomy but for and only matters with today? And control want empowered. to also how experience, to Our What on of how for our women terms based we customers. of means to does of learned is evolve not their it be women understanding with are them today? it engaging months that key goal mean feel And aspects empowered what equality

first customers make and give because we control in how received of expanded to our make the experience have they from positive that, really lot like. shape a the we've move move, we more that helped looks first So women exactly those what reactions

So of of see the important, of this and that the company first the product over the the a was of course evolution year. this chapter innovation pace relaunch first really we

We increased improvement. For self-expressing profile photos additional we capabilities capabilities for customers of a the number minimum the other broadly. and as so introduced But that safety of We number algorithm experience well, added enhanced more. You are

that be customers helping of going All that's process. to aimed a Andrew, our at be, as beginning you And to just of in successful app. continual the our mentioned,

we big the that only market to for want have value we're in set them, This really they see to year, the that moments customers adding some apart. understand us add differentiates connections, and not and where finding what us but get value

engagement we're in certainly the engagements So We seeing. seen that the first I'm a by excited few positive week. key have

are our chat First, customers an and increased engaging rate. at in conversations

new in really are moves the And week, which matches most We also already opening great to we a adopt our sign. is looking importantly, relaunch. have match since have and its half increased users seen customers of first find help

making experience All of that customers, supporting in positive the again. are our joyful direction them in and signs we right those are dating a reengaging

And detail. in Badoo. if helpful one can Very a quick I maybe squeeze on

optimism. kind safe near I it's like a tone to pretty like one success has the Is quarters in say over turned And say of we for what there? it grown look Now has the Badoo can users, and term? worth of that but corner finally guess of business that we've does been a year's felt where cautious we're medium consistently

campaign the customers. to has very large And newly mission with at -- And is marketing relaunch product aimed targeted Badoo has that dating. resonating that helping confident been Great loyal marketing has really customer in question. and feel tied product users and message a base. capabilities been

building we find matches and on are feedback Our focus their they're for the helping really them looking while fine-tune road is dating. map product confidence enjoy to continue to the that that they're based customer

market. international from is going Badoo a continue very to are We to learn Badoo.

on allows take for The our learning the Bumble, And and positive to Badoo agility. Bumble really one portfolio is about strategic launched efforts. thing us App one product in to allows learnings our product with that take growth and added it great company can and only that expand from in to capabilities region, to not added very think us we we expansion us Badoo from with how entire our international be across we and our

customer learnings adds I what Bumble the the have, So we have love to to not the App. but Badoo base we to only again can that also bring that

Citi. We Ygal with to now turn Arounian

the you new any the that the on a evolution app mean little too Lidiane, on might about about this the products from Talk bit, Bumble chapter it to there you -- can want and the to at you what Can out you the it more. little lift elaborate but think positive mentioned and guidance, what is if in hit first what in talk least, course the to bit a launch XQ. is is see I impact evolution still year. relaunch? of and it means For XQ coming you about of expectation the Bumble in of or Or renew early a product-wise? over

the a of at year. on lot of showcase the confidence for hope that pace a see started we get of this is gives the and last that of I market can speed me months our the company. rest different I'll just a the X future operating innovation Great. This one. are about

that other innovate and to strong used product The on thing technology is X the a safety. years and very has has Bumble platform AI

so that our mix allows without We costs. also our with the AI technology compute additional can flexibility in of have we embrace of increasing infrastructure to cloud a and a first-party capabilities infrastructure accelerate us capacity that lot

foundation and this to have tool of innovation. you to product the accelerate that we tell All right the right

find throughout women's a And equitable us for connections their our lives excited is with broadly generative on AI will very AI customers to and focus more about what allow do experience. helping customers for personally us, this I'm focus healthy And year. and our

areas that key looking few we're a deeply at. there's So

allows feel First to really inspired us that and profile and users for creation and experience is the to to understand proud them the express themselves.

intent regularly progresses. is what and of understand intent evolve the time, be their as they their dating starts are journey, second someone for over The know evolution will might we as journey what their looking and that dynamic

use ensuring time. be find can to with whole learning, customers And in want learning about a real laws. to capabilities. thirdly, match is that be compatibility successful real This AI to We connections to human that find level we bring and different really helping of and in their reach

year, So create the big this we are aiming some in market. moments to certainly

I'm on to because surprises drive and So the going certainly customers. right beat elevates we reserve continue that to hold our detail to drum want a to

with to in leadership before The you technology attracting we exciting and an the that industry. tech last from thing senior the product from I'll leave caliber are of companies Anu best is passing

up Our incredibly and to which are AI, viral rest setting execute bringing CTO experience the year. combined throughout CPO of growth, decades us all are well of on product-led of the cloud computing,

Anu will I pass a little to that, speak with But guidance. to about bit

elaborate guidance. to how thought specific QX, to question so Ygal, on second maybe we on take a just about I'll your

I'm QX So if that expectations, We were off start. with feel in performance really you pleased think to our good. we a good line about we're largely our and

growth, been made very International area strong you huge share many across the If comments for recall growth Feb, download continues a to of gains. we markets, in be has strong of us, that some growth

U.S., third-party of we did we we've well. the all QX in are that in internally. see we numbers see as called as trends In that as are can seeing the data before. seeing top that well of funnel some as into definitely continue the And out You slowness

continue that as trends are So we these QX. QX think will largely guidance, about assuming we effectively throughout

about we are it's that that be. it time relaunch to the as user we early to possibly continue the the have very experience iterate make product best the teams can on want but some still to days, about we and make the excited talked sure make extensively, we've quite Now and sure

making an the and we watching second this doing think half closely would acceleration we work product. about QX that the as to where and in is I So the are are tweaks

one it on maybe a strategy you follow-up. just may little fits how into like more? just sounds portfolio but have that it And the a And Can little BFF the bit I quick shifting might and expand be bit. misunderstood, around

Yes, absolutely. It's a great question.

a Let's BFF. about little bit talk

a beyond As we earnings heard before, lives believed have meaningful dating. role play Bumble long in more you people's have previous can in that us from

We with brand have our of our the play equity mission different lives. us the parts a that a role really in market in allows and customers bigger to customers'

that the for we And our to to up it. experience. with in one-on-one doing to And point, though has that our narrowed has friendship approach current reach where been today, audience looking even at customers love that looks similar to our an dating, product very this approach BFF using we're have are a our it match narrowed absolutely it. It

our fresh approach and embracing especially we as looking from opportunity. What And users a we young that they taking is do they and are and strategic are feeling path a hearing a back customers disconnected. we Gen see are and we're how what launch. in week's have lonely Z embrace us, look step for, it also So last this since told to

groups So they find our our goal to similar of here to life people real can connections. interests is customers with human that make meet real help in

fulfill their for launched that our was need authentic users this for are is them. customers throughout for younger Bumble And that Bumble just connections to for lives. human for last to So a reaffirmation app week's looking friendship our bring vision we

and about bit move forward approach our a we BFF is journey. this for in part will that So more how customers' of our

Morgan with comes Nathan from Stanley. next Our question Feather

that you the you or factors what like macro be on conviction improvements line give in the Interested Or the is we expecting back you're other testing play the marketing of to And saw app? that time in a the some role some that to predicated there hear helps about that half of? are relaunch fully idiosyncratic acceleration. should aware

why take don't I Nate, Sure. that.

are seeing some we unveiled -- the we has week. around engagement are as of And early we things excited last relaunch very that features and are about very our new adoption like the been Lidiane promising. of that So we've mentioned, data

it. only since it's a been obviously, Now launched we week

So the we experience I are on are monitoring as what eye user keeping the a said, close looks results very just And across closely. various we markets. like

to So -- of there's is doing. and heard from just as product be we that will you step still teams changes X of that the just work course launch more the this of through intend a Lidiane, year. the series But make

better Premium+ perspective more say. in to creation, adding look allow you additional And a we going is as more of users' features but the to that for like as to come just the also from enhance heard tiers to rest product that experience, subscription the include newer Lidiane is profile our a just onboarding works not at of year. lot people, features There's ways

to strong that also us of by these well. to as that marketing What's top note built moments of important the also map rest year product be mind is will brand moments for and keep that allow our our the for Bumble is accompanied users, will road into

the in enthusiasm to lot a work of a of and around come, year. about us reacceleration that what confidence second half of lot the is of there's giving trends So is the

also these that around testing are guiding the features And thinking a how are as learnings work you about and are we are imagine, new lot into to. where those product is can from we there of doing incorporated we

And things classify momentum we us. for to would all them creates feeling are the how exactly be. as we that excited in, want I So this this progressing think about are I

guided is more call said out, I in that my unfavorable in FX The be which we one thing I are we remarks, prepared since last trends seeing Feb. would

see current rates headwind XX at could we least continue. basis points of So if

that sure make wanted rest we the revenue we as year. to call thought well of about out So we for as the just

then may. Great. year? share quarter, more, one And any Okay. the and move high-level helpful. about any think investors color on buyback guess, the your buyback really give That's of the strategy cadence year next you we through should more as I if in that Thinking can I and

Sure.

fortunate past, to be in a consistently the a maybe So talk very to And the broadly balance just about feel said and we are allocation in strategy. just I'll our expand sheet. strong in little that we've everyone, position with remind capital more this and bit we

every cash cash free we of lot have we quarter, a flow strong a that and have We generate position.

about us in of options think capital how gives that allocation. terms we certainly So

for invest us. we revenue want talent. and for we investing top most We want our invest to business in in the important thing is to and line in invest to in First foremost, growth. And want capabilities us, our product

of the year for all assumptions it's well. built first and we for margin is have as company do, we to that into the the are looking thing that the that So

priority I for that at thing growth. second highlight is to a as us inorganic being look The would

We help want growth as to use have the our we accelerate opportunistically M&A we business. as that to can vectors for

our buyback we have the we leadership the obviously the goals commitment our setting point looks acquisition, thing into capital are have but that look even a bar new definitely And something an tech As what would is M&A coming that's an are at. perspective and we to that like to we and business, leadership inorganic I for taking higher product from program. a from last allocation that

believe our what use want certainly certainly cash, ourselves and seen of investing a you've we very buyback that's opportunistic. from Again, in to We is be good us a that do. perspective,

seen in year, in of as our have have from you've several terms place. course strategies the terms we deploy buying And at as of buying directly over use multiple authorization disposal of us the we directly well levers Blackstone. this we that from in the market how So past

the thinking to the buyback We But are be again, our table. in the have deploy that we ways of options to on with we best about program opportunistic will continue pleased well. as terms

to with Blackledge now Cowen. We TD John turn

questions. Two

call a the and/or payer On the to out? for get of top it for using kind we any it in funnel on how apps the curious conversion departments use expect of you're on you're to for act it on users? of growth you then driver just internally efficiency it And across Bumble and AI, as use, latter, through year? using how gains more the just do or relaunch, the curious to then And planning internal Gen

so questions, them. of please lot a me I any if asked you miss John, remind of

start let's relaunch. So the with

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metrics the engagement I earlier. that So the watching metrics are closely we've been that mentioned

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long-term these of number there's sustainability all and Underneath our us metrics health and helps a major additional really of detail that near-term metrics business. of

high categories of we a there's look Top that at at. major funnel, X you as mentioned. So level,

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was but one have it. that think I maybe -- no, I final you question, think

your I me John, but please any. covered I if think know missed let questions, I

Jian now Li turn me Let with Evercore ISI. to

thing M&A you for that already portfolio. have have your inorganic I through growth? cases use there that demographic, is criteria the that in comes opportunity? Anu follow-up a opportunities first, talk So any your some on just I Can one Is better just inorganic fitted or are think that me cases a pursuing you dating in mentioned. for couple you you beyond to mind use guess geography

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Deutsche with Black Benjamin from Bank. comes question next Our

But bigger the that's more maybe it move, the the impact any who to offering be of impacted, women curious seeing b, of on brand in your how perception it app. interaction and has a perhaps change or a, has on men also makes you're the sort hear noticeable way? had I'd around strategy women options on

Bumble trends? seasonal think And then sort year payer of the Anu, typical any on the Should balance through addition just can you trends? of us net in the help terms App of impact have relaunch

we I'll that make pass move. be women how to move. clear have that get on it first super I'll and I'll first they make control Anu. at started, What Yes, the then still in introduced Bumble, is added

and a question to to matching to want they're open they conversation are Now will want they match they they that the answer or woman person then will will if to who the women initiate can the that with -- decide they decide set. still that if

women experience conversation. what seen, because have that So to told optimizing here we us are, want in certainly more have how we again, they women's for control initiate

have are the of And the who first this here move. the to target incredibly making positively audience women responded expansion

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really allowing as more leading healthy engaged and discussions, are more matches. which, to earlier, we is so And I mentioned

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we are here. customer mentioned, As Anil obsessed

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just net about on for App. Bumble question Ben, your And adds

should between and the is as know, For relaunch a the say, you to some we seasonally work XX,XXX. XX,XXX are the and also place. come QX us, of with try you as doing quarter we're see just for QX, as always, benefits into strong we that to guiding of

QX, definitely will QX strong. you to So also should a and in compared be step-up see then QX

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Our next of Bank Curtis America. question with Nagle comes from

on one of one adds was net the That them.

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Yes.

in we was transformation, had reduction. -- your pretty a biggest we of resulted which to obviously QX, quarter in know, stock-based the in you workforce to of driver as a a The that point, addition So had comp. in terms unusual

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in are of the We our finalizing workforce process transformation.

comp give that trajectory So we're work past once will perspective. a we forward like we doing better be looks what stock-based the get the from you able into headcount to going visibility

comp definitely historically. the than will year, expect stock-based our you should full what seen that for lower overall But levels be you've

comes Champine with from final Our question Capital. Laura Loop

the of in see growth unclear closer seems to step on guidance because year. revenue the the of bounced from to your in QX the back and a quarter that little then about down drives for this something growth would half shape Still it it It's pretty the year you the implied that. a growth what back significant current

Laura. take Sure, I can that.

to at of the revenue for QX point, App your Bumble at growth, trajectory the if you So look XX%. was

with We we slightly are funnel, the the are trends to is guiding younger users. with of that in gave that. the respect than lower This to QX that for seeing around the top especially commentary U.S. be for in we line

trends of to some that's of continuation where a QX, is result the QX and guiding of we're as a that So that. we saw in

perspective improvements are work the the we we will from also conversion doing that and we a we respect of as both In year, to product relaunch, that have result monetization in be done see newer launching will in the engagement from that perspective a but features, the work also of from the trends from with but second half a perspective. anticipating an

you confidence Bumble about That roadmap. future chapters year. So what is us the gives about heard Lidiane of talk of second the the half the

excitement up continue are to the In from that moments amplifying with that we've as work we with users. well, keep our doing of We lot perspective built addition, intend product brand the a of a relaunch. marketing to will for Bumble again strong continue mind top

together, half the in in of the these trends second the put of you see you that trajectory all So you if reacceleration the of them things, of terms give year.

We'd gentlemen, and conference you Q&A participation. like for thank to Ladies your call. concludes this and our today's

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