Markets
LGBTQ Dating App Grindr Goes Public On The NYSE
(Spencer Platt/Getty Images)

Grindr reports better-than-expected Q3 earnings and sales

Last month it received a take-private proposal from its majority investors that would value the company at $3.5 billion.

J. Edward Moreno

Grindr rose in after-hours trading after it reported earnings results that beat Wall Street expectations in what could be one of its last quarterly reports as a public company.

The company reported net income of $30.8 million, compared to the $22.6 million analysts polled by FactSet were expecting. Grindr reported $115.7 million in revenue, also more than the $113.3 million the Street was penciling in.

Grindr reaffirmed its full-year guidance of 26% or greater revenue growth.

Last month, Grindr disclosed that it received a take-private proposal from its majority investors that would value the company at $18 per share, or $3.5 billion. Though they are buying out Grindr shares at a premium, the stock was above $20 as recently as July.

While dating apps have struggled to grow their revenues and paid users, Grindr has generally outperformed its peers. Still, the company is down more than 25% since the start of the year.

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