Bumble Inc. Files 10-Q for Q1 2024

TL;DR

<b>Bumble Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and corporate activities.</b>

AI Summary

Bumble Inc. (BMBL) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Bumble Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key dates mentioned include March 31, 2024, and March 8, 2023. The company's fiscal year ends on December 31. The filing references various financial instruments and equity awards, including restricted stock units and stock options.

Why It Matters

For investors and stakeholders tracking Bumble Inc., this filing contains several important signals. The 10-Q filing provides a comprehensive update on Bumble's financial health and operational status for the first quarter of 2024, crucial for investors to assess recent performance. This filing includes details on equity awards, share repurchase programs, and financial instruments, offering insights into management's capital allocation and compensation strategies.

Risk Assessment

Risk Level: — Bumble Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating routine disclosure.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Bumble's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT: 20240331)
• 2024-05-09 — Filing Date (FILED AS OF DATE: 20240509)
• 2023-03-31 — Prior Year Period End Date (2023-03-31)
• 2023-03-08 — Secondary Offering Date (us-gaap:CommonClassAMember bmbl:SecondaryOfferingMember 2023-03-08)

Key Players & Entities

• Bumble Inc. (company) — FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bumble Inc.
• Whitney Wolfe Herd (person) — bmbl:WhitneyWolfeHerdMember
• 1105 WEST 41ST STREET (company) — BUSINESS ADDRESS: STREET 1: 1105 WEST 41ST STREET
• AUSTIN (company) — CITY: AUSTIN
• TX (company) — STATE: TX
• 78756 (company) — ZIP: 78756
• BMBL (company) — tk=BMBL

FAQ

Industry Context

Bumble Inc. operates in the online dating industry, a sector characterized by rapid technological advancements and evolving user engagement trends.

Regulatory Implications

The filing is subject to SEC regulations, including the Securities Exchange Act of 1934, requiring timely and accurate disclosure of financial information.

What Investors Should Do

1. Analyze the consolidated statements of operations for Q1 2024.
2. Review the balance sheets as of March 31, 2024, and December 31, 2023.
3. Examine the cash flow statements for the three months ended March 31, 2024.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date Bumble Inc. submitted the 10-Q to the SEC.
• 2023-03-08: Secondary Offering — Date related to a secondary offering of common stock.

Year-Over-Year Comparison

This 10-Q filing for the quarter ending March 31, 2024, follows the company's previous filings, providing updated financial and operational information.

Key Financial Figures

• $0.01 — tered Class A common stock, par value $0.01 per share BMBL The Nasdaq Stock Mar

Filing Documents

• bmbl-20240331.htm (10-Q) — 2181KB
• bmbl-ex31_1.htm (EX-31.1) — 13KB
• bmbl-ex31_2.htm (EX-31.2) — 13KB
• bmbl-ex32_1.htm (EX-32.1) — 9KB
• bmbl-ex32_2.htm (EX-32.2) — 9KB
• bmbl-ex99_1.htm (EX-99.1) — 6KB
• 0000950170-24-057159.txt (&nbsp;) — 10971KB
• bmbl-20240331.xsd (EX-101.SCH) — 2024KB
• bmbl-20240331_htm.xml (XML) — 1889KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Operations 7 Condensed Consolidated Statements of Changes in Equity 8 Condensed Consolidated Statements of Cash Flows 10 Notes to Unaudited Condensed Consolidated Financial Statements 11 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 40 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 5. Other Information 43 Item 6. Exhibits 44

—FINANCI AL INFORMATION

PART I—FINANCI AL INFORMATION

. Financial Statements (Unaudited)

Item 1 . Financial Statements (Unaudited). Bumble Inc. Condensed Consolida ted Balance Sheets (In thousands, except share and per share information) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 262,699 $ 355,642 Accounts receivable (net of allowance of $ 658 and $ 648 , respectively) 100,685 102,677 Other current assets 30,708 34,732 Total current assets 394,092 493,051 Right-of-use assets 13,989 15,425 Property and equipment (net of accumulated depreciation of $ 17,385 and $ 15,831 , respectively) 11,675 12,462 Goodwill 1,584,842 1,585,750 Intangible assets, net 1,469,690 1,484,290 Deferred tax assets, net 26,009 27,029 Other noncurrent assets 16,652 7,120 Total assets $ 3,516,949 $ 3,625,127 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable $ 8,108 $ 4,611 Deferred revenue 46,776 48,749 Accrued expenses and other current liabilities 140,539 185,799 Current portion of long-term debt, net 5,750 5,750 Total current liabilities 201,173 244,909 Long-term debt, net 614,181 615,176 Deferred tax liabilities, net 5,041 5,673 Payable to related parties pursuant to a tax receivable agreement 419,323 407,389 Other long-term liabilities 14,034 14,707 Total liabilities 1,253,752 1,287,854 Commitments and contingencies (Note 14) Shareholders' equity: Class A common stock (par value $ 0.01 per share, 6,000,000,000 shares authorized; 139,237,906 shares issued and 126,114,247 shares outstanding as of March 31, 2024; 138,520,102 shares issued and 130,687,629 shares outstanding as of December 31, 2023) 1,392 1,385 Class B common stock (par value $ 0.01 per share, 1,000,000 shares authorized; 20 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively) — — Preferred stock (par value $ 0.01 ; authorized 600,000,000 shares; no shares issued and outst

View Full Filing

View this 10-Q filing on SEC EDGAR