Bumble Inc BMBL reported Q3 FY23 revenue increased by 18% Y/Y to $275.5 million, missing the consensus of $276.97 million.
Bumble App Revenue rose 22.8% Y/Y to $221.8 million, including a favorable impact of $1.7 million from foreign currency movements.
Bumble App Paying Users rose 25% Y/Y to 2.6 million in the quarter.
Total Paying Users increased to 3.8 million from 3.3 million the prior year.
Total Average Revenue per Paying User (ARPPU) grew to $23.42 from $22.96 a year ago.
Adjusted EBITDA rose to $75.3 million from $61.8 million the prior year, with a margin of 27.3% vs. 26.6% a year ago.
EPS of $0.12 beat the consensus of $0.07.
As of September 30, 2023, cash and cash equivalents were $439.2 million, and total debt was $621.9 million.
In Q3, the company didn't repurchase any shares under its previously announced $150.0 million share repurchase program.
As of September 30, 2023, the company had $129.1 million remaining available under the repurchase program and disclosed an increase in the share repurchase program authorized amount to $300.0 million from $150.0 million.
Outlook: In Q4, the company expects revenue of $272 million-$278 million (vs. consensus of $286.56 million) and adjusted EBITDA of $72 million-$75 million.
Also Read: Here's Why Bumble's Founder And CEO Whitney Wolfe Herd Is Stepping Down After Nearly 10 Years
Price Action: BMBL shares are trading lower by 7.30% at $12.44 premarket on the last check Wednesday.
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