Grindr Inc. (NYSE:GRND) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Tolu Adeofe – Head-Investor Relations
George Arison – Chief Executive Officer
Vanna Krantz – Chief Financial Officer

Conference Call Participants

Nick Jones – Citizens JMP

Operator

Good afternoon. My name is Stephanie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Grindr’s Second Quarter 2024 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]

Thank you. I would like to now turn the conference over to Tolu Adeofe, Grindr’s Head of Investor Relations. Please go ahead.

Tolu Adeofe

Thank you, moderator. Hello, and welcome to Grindr’s earnings call for the second quarter 2024. 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

Thanks, Tolu, and hello, everyone. Grindr delivered outstanding Q2 results, achieving 34% year-over-year revenue growth and adjusted EBITDA margin of 45%. Our Q2 growth was even better than we had expected at our Investor Day in June. Throughout Q2, we fine-tuned our conversion strategies by launching several enhancements to Grindr’s paid tiers, while improving the merchandising of premium features. We modified our Explore Chat feature and made it easier for you to utilize our Boost add-on and opt-out from ads by transitioning to a paid tier.