Grindr’s fourth-quarter revenue grows while net income dwindles


Grindr Inc.
posted higher revenue and lower net income in the latest quarter as it outlined how it will drive monetization efforts in 2023.

The social network and dating app posted net income of $5.2 million for the fourth quarter compared to $6.5 million a year earlier. Revenue rose to $54.5 million from $45 million.

The company guided for 25% revenue growth for full year 2023. It recorded about $195 million for full year 2022.

The West Hollywood, Calif.-based company said the core way it will drive monetization in 2023 will be through pricing and plan optimization, as well as increased monetization of features and services that it’s already built.

Grindr shares sank 11% in after-hours trading.

Grindr began trading on the New York Stock Exchange in November after completing its merger with special-purpose acquisition company Tiga Acquisition Corp.




Related articles

ChatGPT app downloads are slowing down, BofA finds

Sam Altman, CEO of OpenAIWin Mcnamee | Getty...

Missing Texas Teen Found Alive!

1A miracle occurred two days ago. A missing...

GM second-quarter sales increase 18.8% as supply chain stabilizes

2024 Chevrolet Silverado HD ZR2GMDETROIT – General Motors'...

How A.I. took center stage in the Hollywood writers’ strike

After failing to reach a contract resolution with...


Please enter your comment!
Please enter your name here