Grindr (GRND)
NYSE:GRND
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Grindr
(NYSE:GRND)
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Rating:67Neutral
Price Target:
$12.50
▲(1.96% Upside)
Action:ReiteratedDate:03/02/26
The score is driven primarily by solid operating performance and cash generation, reinforced by upbeat 2026 guidance and continued high-margin execution. Offsetting this are meaningful leverage/thin-equity balance-sheet risk and a mixed technical picture with weaker intermediate-term momentum; valuation appears reasonable but not clearly cheap given the P/E and lack of dividend yield.
Positive Factors
Strong free cash flow
Consistently positive and growing free cash flow provides durable internal funding for product investment, buybacks, and interest coverage. FCF resilience—even in prior loss years—reduces dependence on external financing and supports strategic optionality over the next several quarters.
Negative Factors
Elevated leverage, thin equity
High absolute debt and a thin equity cushion constrain financial flexibility and increase refinancing risk if operating performance weakens. Limited balance-sheet buffer can force conservative capital allocation or raise borrowing costs during adverse cycles, affecting strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Consistently positive and growing free cash flow provides durable internal funding for product investment, buybacks, and interest coverage. FCF resilience—even in prior loss years—reduces dependence on external financing and supports strategic optionality over the next several quarters.
Read all positive factors
Grindr (GRND) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.27B
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)27.1
Beta (1Y)0.60
Revenue Growth28.97%
EPS Growth-4.18%
CountryUS
Employees142
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.11
Shares Outstanding185,147,720
10 Day Avg. Volume1,179,839
30 Day Avg. Volume1,420,531
Financial Highlights & Ratios
PEG Ratio-0.16
Price to Book (P/B)54.65
Price to Sales (P/S)5.84
P/FCF Ratio18.25
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue5.87
Enterprise Value/Gross Profit7.92
Enterprise Value/Ebitda17.81
Forecast
1Y Price Target
$17.67Price Target Upside44.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.55
Revenue Forecast (FY)$529.38M
Grindr Business Overview & Revenue Model
Company Description
Grindr Inc. operates social network platform for the LGBTQ community. Its platform enables gay, bi, trans, and queer people to engage with each other, share content and experiences, and express themselves. It offers a free, ad-supported service an...
How the Company Makes Money
Grindr generates revenue primarily through a freemium model, where users can access basic features for free but can opt for premium subscriptions that offer additional functionalities. The key revenue streams include subscription fees from its pre...
Grindr Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call emphasized strong top-line growth (28% revenue increase), high margins (44% adjusted EBITDA margin), robust free cash flow and rapid AI-driven efficiency gains. Management provided constructive 2026 guidance (> $528M revenue, > $217M adjusted EBITDA) and outlined strategic priorities (AI premiumization, durable core growth, operational rigor, and deliberate investments). Key uncertainties include slowing reported MAU growth driven partly by aggressive removal of unwanted accounts, leverage (gross debt ~$396M vs cash ~$87M), and that new initiatives (Edge, Woodwork) are early-stage and not yet included in revenue guidance. Overall, positive operating and financial momentum substantially outweighs the noted risks and near-term uncertainties.Positive Updates
Strong Revenue Growth
Full-year 2025 revenue grew 28% year-over-year to $440.0 million; Q4 2025 revenue was $126.0 million, up 29% year-over-year.
Negative Updates
MAU Growth and Reporting Change
Management moved to provide average MAU on an annual basis rather than quarterly. Unadjusted MAU growth for 2025 was 5.2%; management reported adjusted MAU growth of 6.1% after removing ~350,000 unwanted accounts. Analysts noted two quarters of slowing MAU growth, and removal of unwanted accounts reduced reported quarterly MAU comparables.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue Growth
Full-year 2025 revenue grew 28% year-over-year to $440.0 million; Q4 2025 revenue was $126.0 million, up 29% year-over-year.
Read all positive updates
Company Guidance
Grindr guided 2026 to revenue of greater than $528 million (implying >20% YoY growth versus 2025 revenue of $440M) and adjusted EBITDA of greater than $217 million (vs $196M in 2025; 2025 adj. EBITDA margin was 44%), noting Q1 should pace well ahead of the annual results; management said Edge and Woodwork are not assumed in revenue guidance (their expenses are factored into adjusted EBITDA) and pricing rollouts for XTRA/Unlimited will continue through H1 2026 to help drive growth. For context, 2025 results included revenue $440M (+28% YoY), adjusted EBITDA $196M (44% margin), full‑year net income $103M, Q4 revenue $126M (+29% YoY) and Q4 adjusted EBITDA $56M (44% margin); operating income for 2025 was $126M (29% of revenue) with operating expenses (ex‑cost of revenue) $201M (46% of revenue). Liquidity and capital metrics cited: cash and cash equivalents ≈ $87M, total gross debt ≈ $396M, free cash flow $133M in 2025; average MAU for 2025 was 15M, average paying users ≈ 1.26M, ARPU $24.25; and the company expanded its repurchase program by $400M (total repurchase availability up to $450M) after repurchasing 25.1M shares for ≈ $450M under the prior $500M authorization.Grindr Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
46
Neutral
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 439.90M | 344.64M | 259.69M | 195.01M | 145.83M |
| Gross Profit | 318.48M | 257.06M | 192.23M | 143.74M | 108.47M |
| EBITDA | 145.12M | 107.17M | 21.30M | 70.09M | 68.23M |
| Net Income | 94.75M | -131.00M | -55.77M | 852.00K | 5.06M |
Balance Sheet | |||||
| Total Assets | 531.03M | 479.09M | 444.60M | 438.83M | 449.73M |
| Cash, Cash Equivalents and Short-Term Investments | 87.05M | 59.15M | 27.61M | 8.72M | 15.78M |
| Total Debt | 401.01M | 293.91M | 344.25M | 365.34M | 137.12M |
| Total Liabilities | 484.02M | 610.66M | 462.89M | 434.78M | 186.49M |
| Stockholders Equity | 47.01M | -131.57M | -18.29M | 4.05M | 263.24M |
Cash Flow | |||||
| Free Cash Flow | 140.77M | 94.01M | 31.92M | 45.06M | 30.63M |
| Operating Cash Flow | 141.52M | 94.96M | 36.15M | 50.64M | 34.43M |
| Investing Cash Flow | -8.62M | -5.34M | -4.23M | -5.58M | -3.80M |
| Financing Cash Flow | -105.01M | -58.85M | -13.04M | -52.11M | -56.25M |
Grindr Technical Analysis
Positive
12.26
Price Trends
11.54
Positive
12.40
Negative
14.52
Negative
Market Momentum
0.12
Positive
53.70
Neutral
34.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GRND, the sentiment is Positive. The current price of 12.26 is below the 20-day moving average (MA) of 12.29, above the 50-day MA of 11.54, and below the 200-day MA of 14.52, indicating a neutral trend. The MACD of 0.12 indicates Positive momentum. The RSI at 53.70 is Neutral, neither overbought nor oversold. The STOCH value of 34.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GRND.
Grindr Risk Analysis
Grindr disclosed 58 risk factors in its most recent earnings report. Grindr reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Grindr Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.03B | 7.22 | 19.47% | ― | 5.80% | 12.20% | |
69 Neutral | $3.84B | -143.66 | -4.43% | ― | 35.87% | 85.20% | |
67 Neutral | $2.27B | 27.11 | 60.60% | ― | 28.97% | -4.18% | |
65 Neutral | $3.63B | -103.64 | -6.24% | ― | 27.35% | 18.18% | |
64 Neutral | $5.36B | 2.80 | 209.99% | ― | 14.90% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $453.06M | -0.19 | -106.91% | ― | -7.43% | 61.36% |
* Technology Sector Average
GRND
Grindr
12.26
-5.64
-31.51%
LYFT
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13.46
2.12
18.69%
YALA
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6.51
1.34
25.92%
BMBL
Bumble
3.49
-0.67
-16.11%
ZETA
Zeta Global Holdings Corp
15.72
2.84
22.05%
GTLB
Gitlab
21.34
-24.96
-53.91%
Grindr Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Grindr Reports Strong 2025 Results, Expands Buyback Program
Positive
Feb 26, 2026
On February 26, 2026, Grindr Inc. reported that full-year 2025 revenue grew 28%, with net income reaching $95 million and Adjusted EBITDA at $196 million, surpassing the company’s annual revenue level at the time of its public listing three ...
Regulatory Filings and ComplianceShareholder Meetings
Grindr Sets 2026 Virtual Annual Meeting, Proxy Deadlines
Neutral
Feb 24, 2026
Grindr Inc. has scheduled its 2026 Annual Meeting of Stockholders for Tuesday, June 2, 2026, at 8:00 a.m. Eastern time, to be held virtually via webcast, with the record date to be specified in its forthcoming proxy statement. The company advanced...
Regulatory Filings and Compliance
Grindr Files Consolidated Disclosure on Material Agreement
Neutral
Dec 17, 2025
The release states that information previously disclosed under Item 1.01 regarding an entry into a material definitive agreement has been incorporated by reference into Item 2.03 of the company’s filing. This procedural disclosure consolidat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.