Bumble Inc. on Wednesday said it added users and saw revenue growth in the third quarter, and raised its revenue and Ebitda outlook for the full year.
shares initially rose after hours but were trading more than 9% lower as of 4:40 p.m. Eastern. They had fallen 6% in the regular session to close at $47.75.
The dating-site company said it now has 2.9 million users. Its revenue rose to $201 million from $162.3 million in the year-ago quarter. It reported a third-quarter net loss of $10.7 million, or 6 cents a share, compared with $22.8 million, or 1 cent a share, in the year-ago period. Adjusted Ebitda was $54.5 million, beating analysts’ expectation of $49.6 million.
Analysts surveyed by FactSet had forecast a loss of $4.7 million, or 1 cent a share, on revenue of $198.7 million.
While the company said revenue from its Bumble app was $142 million, an increase of 39%, revenue from its Badoo app and other sources fell 3% to $58 million.
Bumble expects fourth-quarter revenue of $208 million to $211 million, and adjusted Ebitda of between $53 million and $55 million. Analysts had forecast revenue of $205.9 million. For the full year, the company expects revenue of between $765 million and $768 million, and adjusted Ebitda of $205 million to $207 million. Analysts had expected full-year revenue of $761.6 million.
Shares of Bumble, which went public in February, have risen about 2.4% in the past three months. By comparison, the S&P 500 Index
is up about 5.7% during that same period.