Bumble Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Bumble Inc. has officially filed its comprehensive 2023 annual report (10-K) detailing its financial performance and operational landscape.</b>

AI Summary

Bumble Inc. (BMBL) filed a Annual Report (10-K) with the SEC on February 28, 2024. Bumble Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data points and disclosures related to the company's operations are included. The report details various aspects of the company's business, including financial statements and risk factors. Bumble Inc. is headquartered at 1105 West 41st Street, Austin, TX 78756.

Why It Matters

For investors and stakeholders tracking Bumble Inc., this filing contains several important signals. This 10-K filing provides investors and stakeholders with the most up-to-date, audited financial information and business disclosures for Bumble Inc. Understanding the details within this report is crucial for assessing the company's financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: medium — Bumble Inc. shows moderate risk based on this filing. The filing is a standard annual report, indicating no immediate crisis but requiring detailed review for specific financial and operational risks that are typical for a public company.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Bumble Inc.'s performance and outlook for the upcoming year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-28 — Filing Date (Filed as of date)
• 129 — Public Document Count (Total documents in the filing)

Key Players & Entities

• Bumble Inc. (company) — Filer name
• 0000950170-24-022104 (other) — Accession number
• 20231231 (date) — Conformed period of report
• 20240228 (date) — Filed as of date
• 1105 West 41st Street, Austin, TX 78756 (address) — Business address
• 512-696-1409 (phone) — Business phone
• 001-40054 (other) — SEC file number
• BMBL (ticker) — Ticker symbol

FAQ

Industry Context

Bumble Inc. operates in the online dating and social networking industry, characterized by rapid technological advancements and evolving user preferences.

Regulatory Implications

As a publicly traded company, Bumble Inc. is subject to the regulations of the U.S. Securities and Exchange Commission (SEC), requiring regular filings like the 10-K.

What Investors Should Do

1. Analyze Bumble's revenue streams and growth drivers for FY2023.
2. Evaluate the company's reported expenses and operational efficiency.
3. Assess the identified risk factors and management's mitigation strategies.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending December 31, 2023. Comparative data from previous filings will be available upon review of those documents.

Key Financial Figures

• $0.01 — tered Class A common stock, par value $0.01 per share BMBL The Nasdaq Stock Mar
• $16.78 — 183,147 based upon the closing price of $16.78 per share as reported by The Nasdaq Sto

Filing Documents

• bmbl-20231231.htm (10-K) — 4375KB
• bmbl-ex10_19.htm (EX-10.19) — 105KB
• bmbl-ex10_20.htm (EX-10.20) — 163KB
• bmbl-ex10_32.htm (EX-10.32) — 18KB
• bmbl-ex21_1.htm (EX-21.1) — 28KB
• bmbl-ex23_1.htm (EX-23.1) — 4KB
• bmbl-ex31_1.htm (EX-31.1) — 14KB
• bmbl-ex31_2.htm (EX-31.2) — 14KB
• bmbl-ex32_1.htm (EX-32.1) — 11KB
• bmbl-ex32_2.htm (EX-32.2) — 11KB
• bmbl-ex97_1.htm (EX-97.1) — 37KB
• bmbl-ex99_1.htm (EX-99.1) — 16KB
• img12154550_0.jpg (GRAPHIC) — 925KB
• 0000950170-24-022104.txt (&nbsp;) — 21261KB
• bmbl-20231231.xsd (EX-101.SCH) — 2712KB
• bmbl-20231231_htm.xml (XML) — 3624KB

Business

Business 7 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 44 Item 1C Cybersecurity 44 Item 2.

Properties

Properties 45 Item 3.

Legal Proceedings

Legal Proceedings 46 Item 4. Mine Safety Disclosures 47 Item 4A. Information About Our Executive Officers 47 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 48 Item 6. Reserved 50 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 51 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 70 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 71 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 116 Item 9A.

Controls and Procedures

Controls and Procedures 116 Item 9B. Other Information 116 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 116 PART III Item 10. Directors, Executive Officers and Corporate Governance 117 Item 11.

Executive Compensation

Executive Compensation 117 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 117 Item 13. Certain Relationships and Related Transactions, and Director Independence 117 Item 14. Principal Accountant Fees and Services 117 PART IV Item 15. Exhibits, Financial Statement Schedules 118 Item 16. Form 10-K Summary 121 1 CAUTIONARY STATEMENT REGARDING Forward-Looking Statements This Annual Report on Form 10-K, or this Annual Report, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current views of management of Bumble Inc. with respect to, among other things, its operations, including the recently announced plan to implement a global workforce reduction and restructuring of our operations and its expected impact, its financial performance, its industry and its business. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believe(s)," "expect(s)," "potential," "continue(s)," "may," "will," "should," "could," "would," "seek(s)," "predict(s)," "intend(s)," "trends," "plan(s)," "estimate(s)," "anticipates," "projection," "will likely result" and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described in Part I, "Item 1A—Risk Factors". These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this Annual Report. Bumble Inc. undertakes no obligation to publicly upd

Business

Item 1. Business Who We Are Bumble's mission is to create a world where all relationships are healthy and equitable, through Kind Connections. Our platform enables people to connect and build healthy and equitable relationships on their own terms. We focus on building authenticity and safety in the online space, which is marked at times by isolation and toxicity. We also have extended our platform beyond online dating into healthy relationships in other areas of life, such as friendships. The Bumble brand was built with women at the center. Our platform is designed to be safe and empowering for women, and, in turn, provides a better environment for everyone. We are leveraging innovative technology solutions to create a more inclusive, safe and accountable way to connect online for all users regardless of gender. In 2023, we operated five apps, Bumble app, Bumble For Friends app, Badoo app, Fruitz app and Official app, where during 2023, on average, over 42 million users came on a monthly basis to discover new people and connect with each other in a safe, secure and empowering environment. Our apps monetize via a freemium model, where the use of the service is free and a subset of the users pay for subscriptions or in-app purchases to access premium features. We are a leader in the online dating space, which has become increasingly popular over the last decade and has been cited as the most common way for new couples to meet in the United States. Bumble app, launched in 2014, is one of the first dating apps built with women at the center, where women make the first move. Bumble app is a leader in the online dating sector across several countries, including the United States, the United Kingdom, Australia and Canada. We had approximately 2.5 million Bumble App Paying Users during the year ended December 31, 2023. Badoo app, launched in 2006, was one of the pioneers of web and mobile free-to-use dating products. Badoo app's focus is to make finding meaningf

View Full Filing

View this 10-K filing on SEC EDGAR