Grindr Inc. (NYSE:GRND) Q3 2023 Earnings Conference Call March 7, 2024 5:00 PM ET

Company Participants

Tolu Adeofe - Head of Investor Relations

George Arison - Chief Executive Officer

Vanna Krantz - Chief Financial Officer

Conference Call Participants

Andrew Marok - Raymond James

Rohit Kulkarni - ROTH MKM

John Blackledge - TD Cowen

Emily Stykes - New Street Research.

Operator

Good afternoon, everyone. My name is Bo and I will be your conference operator today. At this time, I would like to welcome everyone to the Grindr Fourth Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Ms. Tolu Adeofe, Grindr's Head of Investor Relations. Please go ahead, ma'am.

Tolu Adeofe

Thank you, moderator. Hello, and welcome to the Grindr earnings call for the fourth quarter and full year 2023. 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 its shareholder letter this 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 today, 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.

George Arison

Thank you, Tolu, and thank you, everyone, for joining us today. 2023, our first year as a public company was a success by every measure. We made significant improvements in our product, increased monetization through our weekly subscription and boost a la carte and exceeded our financial guidance. We continue to welcome more users to Grindr with average MAU growth of 8% for the year. The engagement has remained best-in-class with more than 121 billion chats sent between users. These strong results speak to the hard work of our team and also to Grindr's enduring relationship with the gay community as we help users all over the world to find and connect with one another.