Grindr raises FY24 revenue view to up at least 25% from up at least 23%

Consensus $321.9M. Backs FY24 adjusted EBITDA view at least 40%. Grindr will host in New York its inaugural investor day as a public company. Presentations by Grindr senior management will highlight its performance and user engagement metrics, the company’s new product roadmap that is powered by AI, and a four-year financial outlook. Grindr will present a multi-year product plan to build out additional functionality in its app. This includes developing eight new products for users to engage with Grindr’s core use cases of connectivity, dating, and relationships, and Gayborhood expansion use cases, which are new partnership-based digital services typically found in physical gayborhoods. To bring this vision to life, the roadmap leverages AI in a variety of ways, including the Grindr Wingman product. Grindr is increasing its revenue guidance for 2024 from revenue growth of at least 23% to at least 25%. Adjusted EBITDA guidance for 2024 of at least 40% remains intact. Looking out to 2027, with the Company’s new product plans designed to support the core dating business, Grindr expects to deliver 20-25% revenue growth annually through 2027, with Adjusted EBITDA margins in the range of 39-42%. Grindr’s expanded, partnership-based, digital Gayborhood services, including travel, wellness, and entertainment experiences, are not reflected in Grindr’s revenue outlook through 2027, though modest investments in these initiatives are factored into the company’s long-term Adjusted EBITDA margins.