Grindr (GRND) Q4 2024 earnings summary

Executive summary

• Achieved 33% year-over-year revenue growth in 2024, reaching $345 million, surpassing initial guidance by 10 percentage points.

• Adjusted EBITDA margin was 43% for the year, 3 percentage points above initial guidance.

• Announced a $500 million share repurchase program authorized through March 2027.

• Completed redemption of all public and private warrants, generating $314.1 million in cash proceeds and simplifying capital structure.

• Overcame legacy challenges, established a performance-driven culture, and launched a robust AI-first product roadmap.

Financial highlights

• Full year 2024 revenue grew 33% to $345 million; Adjusted EBITDA reached $147 million.

• Adjusted EBITDA margin was 42.7% in 2024.

• Free cash flow for 2024 was $89.6 million, with a free cash flow conversion of 60.8%.

• Q4 2024 revenue was $98 million, up 35% year-over-year; Adjusted EBITDA for Q4 was $39 million with a 40% margin.

• Net loss for 2024 was $131.0 million, with a net loss margin of (38.0)%.

Outlook and guidance

• Initial 2025 guidance projects revenue growth of over 24% and Adjusted EBITDA margin of at least 41%.

• Focused on product innovation, global brand strengthening, neighborhood expansion, and increasing talent density.

• Guidance will be updated quarterly as new data emerges.