Grindr Inc. Unveils Plans for Global Gayborhood

Grindr Inc. (NYSE: GRND) recently hosted its inaugural investor day, where the company unveiled plans to bolster its mission of creating a global gayborhood in your pocket. The management emphasized the company's focus on user experience and engagement over the past 15 years, which has resulted in significant loyalty and engagement from its users.

The company presented a multi-year product plan to enhance its app's functionality, including the development of eight new products to cater to grindr’s core use cases of connectivity, dating, and relationships, as well as gayborhood expansion use cases. This expansion is expected to be powered by AI, including the introduction of the grindr wingman product.

In terms of financial outlook, Grindr raised its 2024 revenue guidance from at least 23% to at least 25%. The adjusted EBITDA guidance for 2024 of at least 40% remains unchanged. Looking ahead to 2027, the company aims to achieve annual revenue growth of 20-25%, with adjusted EBITDA margins in the range of 39-42%.

Furthermore, the company highlighted its expanded, partnership-based, digital gayborhood services, such as travel, wellness, and entertainment experiences, which are expected to contribute to long-term adjusted EBITDA margins, although they are not reflected in Grindr’s revenue outlook through 2027.

Vanna Krantz, Chief Financial Officer of Grindr, emphasized the company's confidence in its continued strong revenue growth and adjusted EBITDA profitability, even as it invests prudently in its product roadmap and new use cases. The company believes that these plans position Grindr for significant profitable growth, cash generation, and value creation.

As a result of these announcements, the company's shares have moved 15.9% on the market, and are now trading at a price of $11.88. If you want to know more, read the company's complete 8-K report here.

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