Grindr Swings to 4Q Loss on One-Time Charges

Dow Jones03-08

By Ben Glickman

Grindr swung to a loss in the fourth quarter despite surging revenue as results were weighed down by one-time charges.

The dating app company lost $44.8 million in the quarter ended Dec. 31 from a year-ago profit of $5.31 million.

Revenue rose 32% to $72.1 million.

Grindr said Thursday its results included the impact of a $38 million loss on the change in fair value of warrant liability and a $12 million loss related to refinancing debt.

The company's average paying users rose to 937,000 in 2023 from 788,000 in 2022.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

March 07, 2024 15:37 ET (20:37 GMT)

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