We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bumble (BMBL) Q4 Loss Widens Y/Y, Bumble App Drives Revenues
Read MoreHide Full Article
Bumble Inc. (BMBL - Free Report) reported a diluted loss of 85 cents per share for fourth-quarter 2022, much wider than the loss of 7 cents per share reported in the year-ago quarter. The Zacks Consensus Estimate for loss was pegged at 1 cent per share.
Total Revenues beat the Zacks Consensus Estimate by 2.37% and increased 16.7% to $241.6 million. This includes an unfavorable impact of $12.7 million from foreign currency movements year over year. The top-line growth was driven primarily by growth in Bumble App.
Total Paying Users increased 14.4% to 3.4 million, compared with 3 million.
Bumble App revenues grew 27.7% to $190.8 million, compared with $149.4 million reported in the year-ago quarter. This includes an unfavorable impact of $7.1 million from foreign currency movements year over year.
Bumble App revenue growth was driven by a strong 35% increase in paying users to 2.2 million. The strong growth in paying users was driven by a number of factors, including strong registration and re-engagement rates, successful international expansion and product improvements that drove payer penetration.
Badoo App and Other revenues declined 11.9% to $50.8 million, compared with $57.6 million. This includes an unfavorable impact of $5.6 million from foreign currency movements year over year. Badoo App and Other paying users declined 11% year over year to 1.2 million. The impact of our exit from Russia and Belarus roughly a 12% negative impact to growth.
Total Average Revenue per Paying User (ARPPU) increased to $23.01, compared with$22.69.
Bumble App's ARPPU was $28.64, down 6% year over year and 1% sequentially. The is primarily due to country mix and FX impacts, partially offset by pricing optimization initiatives.
Badoo App and Other ARPPU declined 6% year over year to $12.48, primarily due to FX and country mix, partially offset by ongoing pricing optimization work.
Operating Details
Adjusted EBITDA was $60.5 million (25% of revenues) compared with $54.8 million reported in the year-ago period.
On a non-GAAP basis, excluding stock-based compensation and other non-cash or one-time items, total non-GAAP operating expenses were $182 million, up 19% year over year.
Sales and marketing expenses grew 14% year over year to $65 million. G&A expenses were $34 million compared with $28 million reported in the year-ago quarter. Product development expenses were $16 million compared with $14 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
As of Dec 31, 2022, total cash and cash equivalents were $402.6 million and total debt was $625.0 million. As of Sep 30, 2022, total cash and cash equivalents were $365.1 million and total debt was $626.0 million.
Guidance
For first-quarter, Bumble expects total revenues to be between $238 million and $243 million, representing growth rate of 15% year over year at the midpoint of range. The outlook assumes approximately $10 million of year-over-year headwinds related to FX and the conflict in Ukraine, primarily in Badoo. Excluding the impact, total revenue growth outlook would have been 19% at the midpoint.
The company expects Bumble App revenues to be between $190 million and $193 million, representing growth rate of 24% year-over-year at the midpoint. Excluding FX headwinds, guidance for Bumble revenue growth rate would be 27%.
For full year 2023, Bumble estimates total revenues to grow between 16% and 19% on a year-over-year basis.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past seven days. For 2023, earnings estimates have moved up by 52 cents to $3.38 per share in the past seven days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 22.1% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 per share in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 22.4% in the past year.
The Zacks Consensus Estimate for Baidu’s fourth-quarter 2022 earnings has been revised 49 cents southward to $2.14 per share over the past 30 days. For 2022, earnings estimates have dropped by 3.4% to $8.64 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 50.2%. Shares of the company have lost 7.2% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bumble (BMBL) Q4 Loss Widens Y/Y, Bumble App Drives Revenues
Bumble Inc. (BMBL - Free Report) reported a diluted loss of 85 cents per share for fourth-quarter 2022, much wider than the loss of 7 cents per share reported in the year-ago quarter. The Zacks Consensus Estimate for loss was pegged at 1 cent per share.
Total Revenues beat the Zacks Consensus Estimate by 2.37% and increased 16.7% to $241.6 million. This includes an unfavorable impact of $12.7 million from foreign currency movements year over year. The top-line growth was driven primarily by growth in Bumble App.
Total Paying Users increased 14.4% to 3.4 million, compared with 3 million.
Bumble Inc. Price, Consensus and EPS Surprise
Bumble Inc. price-consensus-eps-surprise-chart | Bumble Inc. Quote
Top-Line Details
Bumble App revenues grew 27.7% to $190.8 million, compared with $149.4 million reported in the year-ago quarter. This includes an unfavorable impact of $7.1 million from foreign currency movements year over year.
Bumble App revenue growth was driven by a strong 35% increase in paying users to 2.2 million. The strong growth in paying users was driven by a number of factors, including strong registration and re-engagement rates, successful international expansion and product improvements that drove payer penetration.
Badoo App and Other revenues declined 11.9% to $50.8 million, compared with $57.6 million. This includes an unfavorable impact of $5.6 million from foreign currency movements year over year. Badoo App and Other paying users declined 11% year over year to 1.2 million. The impact of our exit from Russia and Belarus roughly a 12% negative impact to growth.
Total Average Revenue per Paying User (ARPPU) increased to $23.01, compared with$22.69.
Bumble App's ARPPU was $28.64, down 6% year over year and 1% sequentially. The is primarily due to country mix and FX impacts, partially offset by pricing optimization initiatives.
Badoo App and Other ARPPU declined 6% year over year to $12.48, primarily due to FX and country mix, partially offset by ongoing pricing optimization work.
Operating Details
Adjusted EBITDA was $60.5 million (25% of revenues) compared with $54.8 million reported in the year-ago period.
On a non-GAAP basis, excluding stock-based compensation and other non-cash or one-time items, total non-GAAP operating expenses were $182 million, up 19% year over year.
Sales and marketing expenses grew 14% year over year to $65 million. G&A expenses were $34 million compared with $28 million reported in the year-ago quarter. Product development expenses were $16 million compared with $14 million reported in the year-ago quarter.
Balance Sheet & Cash Flow
As of Dec 31, 2022, total cash and cash equivalents were $402.6 million and total debt was $625.0 million. As of Sep 30, 2022, total cash and cash equivalents were $365.1 million and total debt was $626.0 million.
Guidance
For first-quarter, Bumble expects total revenues to be between $238 million and $243 million, representing growth rate of 15% year over year at the midpoint of range. The outlook assumes approximately $10 million of year-over-year headwinds related to FX and the conflict in Ukraine, primarily in Badoo. Excluding the impact, total revenue growth outlook would have been 19% at the midpoint.
The company expects Bumble App revenues to be between $190 million and $193 million, representing growth rate of 24% year-over-year at the midpoint. Excluding FX headwinds, guidance for Bumble revenue growth rate would be 27%.
For full year 2023, Bumble estimates total revenues to grow between 16% and 19% on a year-over-year basis.
Zacks Rank & Stocks to Consider
Bumble currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader Computer and Technology sector are Airbnb (ABNB - Free Report) , Baidu (BIDU - Free Report) , and Fabrinet (FN - Free Report) . While Airbnb and Fabrinet sport a Zacks Rank #1 (Strong Buy), Baidu carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past seven days. For 2023, earnings estimates have moved up by 52 cents to $3.38 per share in the past seven days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 22.1% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 30 days. For fiscal 2023, earnings estimates have moved north by 24 cents to $7.71 per share in the past 30 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 22.4% in the past year.
The Zacks Consensus Estimate for Baidu’s fourth-quarter 2022 earnings has been revised 49 cents southward to $2.14 per share over the past 30 days. For 2022, earnings estimates have dropped by 3.4% to $8.64 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 50.2%. Shares of the company have lost 7.2% in the past year.