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GRND

Grindr Inc.

GRND

Grindr Inc. • NYSE
$12.83 ▼ -0.85% (-0.11)
Market Cap $2.41 B
52w High $25.13
52w Low $11.73
Dividend Yield 0%
P/E -34.68
Volume 958.21K
Outstanding Shares 188.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $115.766M ▲ $41.606M ▼ $30.834M ▲ 26.635% ▲ $0.16 ▲ $45.849M ▲
Q2-2025 $104.22M ▲ $52.466M ▲ $16.638M ▼ 15.964% ▼ $0.085 ▼ $27.924M ▼
Q1-2025 $93.938M ▼ $44.004M ▼ $27.019M ▲ 28.763% ▲ $0.14 ▲ $38.922M ▲
Q4-2024 $97.621M ▲ $53.176M ▲ $-123.852M ▼ -126.87% ▼ $-0.7 ▼ $22.372M ▼
Q3-2024 $89.325M $38.023M $24.681M 27.631% $0.14 $40.915M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.327M ▼ $439.188M ▼ $368.234M ▲ $70.954M ▼
Q2-2025 $120.825M ▼ $547.62M ▼ $359.93M ▲ $187.69M ▼
Q1-2025 $255.868M ▲ $679.445M ▲ $359.629M ▼ $319.816M ▲
Q4-2024 $59.152M ▲ $479.09M ▲ $610.66M ▲ $-131.57M ▼
Q3-2024 $39.12M $456.345M $469.748M $-13.403M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $30.834M ▲ $55.449M ▲ $-4.206M ▼ $-165.741M ▲ $-114.498M ▲ $51.243M ▲
Q2-2025 $16.638M ▼ $37.518M ▲ $-880K ▼ $-171.681M ▼ $-135.043M ▼ $37.326M ▲
Q1-2025 $27.019M ▲ $23.793M ▼ $-628K ▲ $173.551M ▲ $196.716M ▲ $23.165M ▼
Q4-2024 $-123.852M ▼ $29.533M ▲ $-1.258M ▼ $-8.243M ▼ $20.032M ▼ $28.275M ▲
Q3-2024 $24.681M $29.125M $-1.243M $-5.107M $22.775M $27.882M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Advertising
Advertising
 $30.00M ▲$10.00M ▼$20.00M ▲$20.00M ▲
License and Service
License and Service
 $150.00M ▲$80.00M ▼$90.00M ▲$100.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been climbing steadily each year, and gross profit has grown alongside it, suggesting the core business has strong pricing power and user monetization. Operating profit turned meaningfully positive and has improved over time, which points to good scalability of the platform. However, the bottom line has swung back into losses recently after being near break-even, and earnings per share have drifted deeper into negative territory. This pattern suggests that rising costs, interest, and investment in growth and technology are currently outpacing the revenue gains, introducing earnings volatility even as the top line looks healthy.

Balance Sheet

Balance Sheet The balance sheet shows a relatively light asset base, typical for a software platform, with cash improving but still modest. Debt is sizeable relative to the company’s total assets, and shareholders’ equity has slipped into negative territory in recent years. That combination indicates a leveraged capital structure and limited balance sheet cushion, which can amplify both upside and downside in more volatile periods. While not unusual for a fast-growing, asset-light tech company, it does mean that careful management of debt, interest costs, and future financing needs will be important.

Cash Flow

Cash Flow Despite accounting losses, the business is generating positive cash from operations and has done so consistently in recent years. Capital spending requirements are low, so most of that operating cash turns into free cash flow, which is a key strength and provides internal funding for growth initiatives. This gap between negative reported earnings and positive cash flow suggests significant non-cash charges or timing effects in the income statement. The main watchpoint is whether cash generation can keep growing if the company continues to invest heavily and carries a meaningful debt load.

Competitive Edge

Competitive Edge Grindr holds a leading position in its niche, backed by a very large and highly engaged LGBTQ+ user base. Strong network effects—where more users attract even more users—create a meaningful moat, and the brand is deeply embedded in the community, often serving as the default choice. Its focus on a specific audience enables tailored features and targeted advertising that general dating apps may struggle to match. On the other hand, competition from other specialized apps and broader platforms remains a constant pressure, and the company must continually manage reputational, regulatory, and privacy risks due to the sensitive nature of its user base and data.

Innovation and R&D

Innovation and R&D The company is leaning hard into innovation, especially with its proprietary AI platform aimed at more personalized and engaging matchmaking. Features like discovery tools, travel enhancements, and the broader “digital Gayborhood” vision indicate a push to move beyond pure dating into lifestyle, wellness, and community services. This strategy could deepen user loyalty and unlock new revenue streams if executed well. The flip side is execution risk: these initiatives require ongoing investment, careful product design, and trust around data and AI use. Success will depend on whether new offerings truly improve user experience without overwhelming or alienating the existing community.

Summary

Overall, Grindr combines robust revenue growth and solid cash generation with a strong brand and a powerful network effect in a clearly defined niche. At the same time, it carries a relatively heavy debt load, has negative equity, and has recently returned to accounting losses, which introduces financial and execution risk. The company’s future path hinges on its ability to turn its AI and “Gayborhood” ambitions into deeper engagement and more diversified revenue, while keeping costs, leverage, and regulatory exposure under control. The story is one of a distinctive, data-rich platform with clear strategic opportunities, but also a capital structure and earnings profile that call for close ongoing scrutiny.

NEWS

November 26, 2025 · 9:19 AM UTC

George Raymond Zage Ill and James Fu Bin Lu Respond to Grindr Special Committee decision to Cease Engagement on Proposed Take-Private Transaction

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November 24, 2025 · 8:30 AM UTC

Grindr Special Committee Ceases Engagement with Respect to Unsolicited Take-Private Proposal from Large Shareholders

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November 24, 2025 · 6:08 AM UTC

GRINDR NOTICE: Grindr Inc. (GRND) Board Faces Investigation into $18 Take Private Deal, Investors Urged to Contact BFA Law

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November 21, 2025 · 6:08 AM UTC

GRND SHAREHOLDERS: An Investigation into the Grindr Inc. $18 Take Private Sale has been Initiated on behalf of Shareholders -- Contact BFA Law

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November 19, 2025 · 8:08 AM UTC

GRND STOCK: Grindr Inc. Board Investigated for Breaches of Fiduciary Duties after $18 Deal Announced – Shareholders Notified to Contact BFA Law

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