Grindr shares decrease when the company slows down sales growth

After trading in trade after trading, GrindR shares lowered 10%after the company slowed down sales growth and recorded a greater loss of the fourth quarter than a year earlier.

Grindr In the last three months of 2024, a net loss of $ 124 million has been reported, which was wider than the net loss of $ 44.8 million last year. The company said the end result was violated by a loss of 139 million US dollars without Kash billing.

As a knife of the blow, Grindr reported the sales figures with estimates -97.6 million US dollars compared to the expected 95.3 million US dollars -and stated that she would buy back 500 million dollars. For 2025, the company expects sales to increase by 24%.

Grindr has grown significantly since it went to the stock exchange via an empty check company in November 2022. The annual turnover has more than doubled in just three years: In 2021, 145.8 million US dollars were earned compared to the US dollars brought in 2024.

The CEO of Grindr, George Arison “Global Gayborhood in her pocket.“” (Yes, that’s a trademark.) At an event on Monday, which Morgan Stanley is organized, Arison said that Grindr was one “Great distribution engine“” for future business opportunities.

“The way I want people to think about Grindr is in five years, I want Grindr like Tesla today.“” he said. Tesla has “This incredibly great engine to make money that the cars are. And then it”S have now built at least three companies that are either already or in coming.“”

Things have looked much darker for Grindr lately”S heterosexual counterparts.

Match groupThe Tinder and Bumble reported, reported on income that missed the expectations of Wall Street. So also his competitor, bumblebee. Both companies displaced their CEOs, with Bumble Whitney Wolfe back, the company”The founder, who had resigned as CEO in early 2024.