Financial PerformanceManagement's new mid-term targets, targeting ~$600M in revenue and ~$245M in adjusted EBITDA (~41% margin) by 2027, came in above our and consensus estimates, driving shares higher on the day.
Growth StrategyManagement outlined four primary growth levers for the business going forward, including improving the core product, bolstering its ad business, international expansion, and 'gayborhood' expansion.
User EngagementManagement provided several metrics highlighting its attractive user demographics and strong engagement, including users spending nearly one hour on average per day on the Grindr app.