Grindr Inc. (NYSE:GRND) Q2 2023 Earnings Conference Call August 15, 2023 5:00 PM ET

Company Participants

Patrick Lenihan - Head, Global Communications

George Arison - CEO

Vanna Krantz - CFO

Conference Call Participants

Emily Stykes - New Street Research

Operator

Good afternoon. My name is Jenny, and I will be your conference operator today. At this time, I would like to welcome everyone to the Grindr Second Quarter 2023 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Patrick Lenihan, a representative for Grindr. Please go ahead.

Patrick Lenihan

Thank you, operator, and good afternoon, everyone. Today's call will be led by Grindr's CEO, George Arison; and CFO, Vanna Krantz. They will make a few brief remarks, and then we'll open it up for questions. Please note, Grindr released Q2 2023 shareholder letter yesterday afternoon and this is available on the SEC's website and Grindr's investor page at investors.grindr.com. Before we begin, I will remind everyone that during this call, we may discuss our outlook and future performance.

These forward-looking statements may be preceded by words such as we expect, we believe, we anticipate or similar such statements. These statements are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in our earnings release and our periodic reports filed with the SEC. During today's call, we will also present both GAAP and non-GAAP financial measures. Additional disclosures regarding non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures are included in the earnings release we issued yesterday, which has been posted on the Investor Relations page of Grindr's website and in Grindr's filings with the SEC.

With that, I'll turn it over to George Arison.

George Arison

Hello, everyone, and thank you for joining us today. We appreciate your patience with us on rescheduling today's call. We needed more time to add some additional processes before finalizing our financial results this quarter. We are pleased that we were able to file our 10-Q and letter yesterday and look forward to sharing additional perspectives on our progress today. We had an excellent quarter and continued to build momentum through the first half of the year.

We're delivering a better user experience with significant feature improvements, and we continue to improve monetization, highlighted by our new Weeklies subscription plan, which is performing well. I'm proud of what we have been able to achieve so far and there's a lot more to come. Our shareholder letter covers the key developments in the quarter, and I encourage you to read more there. For my remarks here, I will give a high-level review of the results and execution of our future priorities before turning it over to Vanna. We delivered revenue growth of 32% year-over-year with an operating income margin of 23% and an adjusted EBITDA margin of 44%.