Grindr (GRND) Q4 2025 earnings summary

Executive summary

• Revenue grew 28% year-over-year to $440 million in 2025, with Adjusted EBITDA of $196 million (44% margin), surpassing prior guidance.

• Net income reached $103 million for the year, reversing a prior-year loss due to a non-cash warrant liability revaluation.

• Major product and platform improvements included global expansion of features, AI integration, and new monetization formats.

• AI adoption accelerated, with 60-70% of new code in Q4 written by AI agents, boosting engineer productivity by 1.5x.

• Strategic priorities for 2026 include premium AI experiences (EDGE), core growth, operational rigor, and deliberate investment.

Financial highlights

• Revenue for 2025 reached $440 million, up from $344.6 million in 2024.

• Adjusted EBITDA for 2025 was $196 million, up from $147.3 million in 2024.

• Net income for 2025 was $103 million, compared to a net loss of $131 million in 2024.

• Free cash flow for 2025 was $133 million; year-end cash and equivalents were $87 million, with gross debt at $396 million.

• Q4 revenue was $126 million, up 29% year-over-year; Q4 Adjusted EBITDA was $56 million (44% margin); Q4 net income was $29 million.

Outlook and guidance

• 2026 revenue expected to exceed $528 million, with Adjusted EBITDA above $217 million.

• Early-year revenue momentum and timing of investments expected to drive Q1 results ahead of annual pace.

• EDGE and Woodwork revenue not included in 2026 guidance; investments and expenses are factored in.

• Focus on investing in premium experiences, core growth initiatives, and AI capabilities for sustainable growth.