Fri, Mar 7, 9:17 PM (53 days ago)
**Grindr Inc. (GRND) 2024 10-K Summary** For the fiscal year ended December 31, 2024, Grindr Inc. reported revenues of $344.6 million, a 32.7% increase from $259.7 million in 2023. Average Monthly Active Users (MAUs) rose to 14.2 million, while Average Paying Users increased by 14.8% to 1.1 million. However, the company incurred a net loss of $131 million, significantly higher than the $55.8 million loss in 2023, attributed largely to a $134.9 million loss in the fair value of warrant liabilities and increased operating expenses. Operating expenses totaled $252 million, driven by a rise in personnel costs and marketing efforts. The company’s Adjusted EBITDA was $147.3 million, reflecting a margin of 42.7%. Grindr's strategic initiatives include expanding its product offerings and enhancing user engagement through AI and machine learning technologies. The company faces risks related to regulatory compliance, cybersecurity threats, and competition within the LGBTQ social networking space. As of December 31, 2024, Grindr's cash and cash equivalents stood at $59.2 million, with significant liquidity bolstered by a recent $314.1 million from warrant exercises. The company has authorized a stock repurchase program of up to $500 million, signaling confidence in its financial position.