Shares of dating platform Bumble Inc. (NASDAQ:BMBL) are rising at the time of publishing today after the company announced first-quarter numbers.
Revenue rose 15.7% year-over-year to $243 million but missed expectations by $13 million. Net loss per share at $0.01 too missed expectations by $0.05.
During the quarter, Bubmble’s App revenue rose by 26% to $194 million and the number of total paying users rose by 500,000 to 3 million. The company had a cash pile of $389 million at the end of the quarter and has announced a share repurchase program worth $150 million.
Looking ahead, for the full-year 2023, the company expects revenue to rise in the range of 16% to 19%. For Q2 2023, revenue is seen landing between $254 million and $258 million. Adjusted EBITDA is expected o hover between $62 million and $64 million.
Overall, the Street has a $26.19 consensus price target on Bumble pointing to a mouth-watering 48.5% potential upside in the stock.
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