Bumble Inc. (NASDAQ: BMBL) reported Q2 2026 revenue of $210.5 million, down 15.2% year over year, while diluted loss per share narrowed to $0.84 from $2.45. Total paying users declined 16.4%, adjusted EBITDA fell to $72.9 million, and a smaller impairment charge reduced the GAAP net loss to $127.9 million.
Core earnings data
Revenue declined across both Bumble App and Badoo App and Other. Although cost of revenue fell faster than sales and lifted gross margin, adjusted EBITDA decreased 22.9% and adjusted EBITDA margin contracted by 3.5 percentage points.
The sharp reduction in the GAAP loss largely reflected a $169.3 million impairment charge, compared with $404.9 million a year earlier. Because adjusted EBITDA excludes impairment charges, its decline provides a clearer view of the pressure on underlying operating performance.
| Metric | Q2 2026 | Q2 2025 | Year-over-year change |
|---|---|---|---|
| Revenue | $210.5 million | $248.2 million | -15.2% |
| Gross profit / gross margin | Approx. $156.5 million / 74.4% | Approx. $173.9 million / 70.1% | Profit -10.0%; margin +4.3 pts |
| Operating loss | $112.0 million | $338.3 million | Narrowed by $226.3 million |
| Net loss | $127.9 million | $367.0 million | Narrowed by $239.1 million |
| Diluted loss per share | $0.84 | $2.45 | Loss narrowed by $1.61 |
| Adjusted EBITDA | $72.9 million | $94.6 million | -22.9% |
| Adjusted EBITDA margin | 34.6% | 38.1% | -3.5 pts |
| Operating cash flow | $53.6 million | $71.2 million | -24.7% |
Gross profit and gross margin are calculated from reported revenue and cost of revenue. Net loss refers to the consolidated result, while diluted loss per share is attributable to Bumble shareholders.
Business and segment performance
Paying-user contraction was the main operating pressure. Total paying users fell 16.4% to 3.16 million, while total ARPPU increased 1.2% to $21.96, showing that slightly higher aggregate monetization per payer was not enough to offset the smaller paying-user base.
| Operating metric | Q2 2026 | Q2 2025 | Year-over-year change |
|---|---|---|---|
| Bumble App revenue | $171.7 million | $201.4 million | -14.7% |
| Badoo App and Other revenue | $38.8 million | $46.8 million | -17.1% |
| Bumble App paying users | 2.077 million | 2.500 million | Approx. -16.9% |
| Badoo App and Other paying users | 1.080 million | 1.277 million | Approx. -15.4% |
| Total paying users | 3.157 million | 3.777 million | -16.4% |
| Bumble App ARPPU | $27.55 | $26.85 | Approx. +2.6% |
| Badoo App and Other ARPPU | $11.21 | $11.57 | Approx. -3.1% |
| Total ARPPU | $21.96 | $21.69 | +1.2% |
The Bumble App accounted for most of the dollar decline in revenue. Its higher ARPPU provided a partial offset, while Badoo App and Other experienced declines in both paying users and ARPPU.
The reported key operating metrics exclude paying users and revenue from Official, advertising, partnerships, and affiliates. BFF was also excluded as of June 30, 2026 because Bumble had not sought to monetize the relaunched app.
Gross margin gains did not protect adjusted EBITDA
Cost of revenue declined approximately 27.4%, substantially faster than the 15.2% revenue decline. That lifted calculated gross margin to about 74.4% from 70.1%, even as gross profit declined in dollar terms.
The benefit did not carry through to adjusted EBITDA margin. Product development expense increased 9.3% to $35.5 million while revenue contracted, although selling and marketing and general and administrative expenses both declined. This spending pattern is consistent with management’s stated plan to invest in product, technology, and brand while preparing new platform and member-experience features.
Cash flow and balance sheet
Operating cash flow decreased to $53.6 million from $71.2 million. After $2.5 million of capital expenditures, calculated free cash flow was approximately $51.1 million, compared with about $67.7 million a year earlier.
Bumble ended June with $154.0 million in cash and cash equivalents and $451.0 million in total debt. At December 31, 2025, cash was $175.8 million and current plus long-term debt was approximately $588.5 million.
During the quarter, Bumble received $456.0 million from a term loan and repaid $589.1 million of term-loan borrowings. These items contributed to $143.0 million of net cash used in financing activities and a $91.6 million quarterly reduction in cash, cash equivalents, and restricted cash.
Earnings guidance
Bumble introduced guidance for the third quarter ending September 30, 2026. At the midpoint, the outlook calls for $209 million of revenue and $58 million of adjusted EBITDA, indicating approximately stable sequential revenue but lower adjusted EBITDA compared with Q2.
| Metric | Q3 2026 guidance | Q2 2026 actual |
|---|---|---|
| Total revenue | $205 million to $213 million | $210.5 million |
| Bumble App revenue | $167 million to $173 million | $171.7 million |
| Adjusted EBITDA | $56 million to $60 million | $72.9 million |
Bumble did not provide a GAAP earnings reconciliation for the outlook because several adjustments, including stock-based compensation and certain legal, tax, and regulatory expenses, could not be forecast without unreasonable effort.
Management’s view
Founder and CEO Whitney Wolfe Herd said Bumble is completing its platform migration, changing its matching algorithms, adding ways for members to begin conversations, and expanding in-person and group experiences. These initiatives are intended to support a reimagined Bumble product and improve how members move from matching to in-person dates.
CFO Kevin Cook emphasized financial discipline but also said the company is deliberately investing in product, technology, and brand. The balance between those investments and continued revenue pressure will be central to the near-term margin trajectory.
Recent insider transactions
The supplied six-month summary shows 465,480 shares purchased and 14,999,030 shares sold, resulting in net sales of 14,533,550 shares. The largest recent reported sales came from Blackstone Holdings III GP Management, a holder of more than 10% of the company.
The director stock awards below were reported at a transaction value of zero and should not be treated as open-market purchases.
| Insider | Relationship | Transaction | Reported price | Reported value | Date |
|---|---|---|---|---|---|
| Blackstone Holdings III GP Management, L.L.C. | 10% beneficial owner | Sale | $3.06 | $22.88 million | June 16, 2026 |
| Ann Mather | Director | Sale | $2.79 | $61,458 | June 9, 2026 |
| Sissie L. Hsiao | Director | Sale | $2.79 | $61,465 | June 9, 2026 |
| Rebecca Lynn Atchison | Director | Stock award | $0.00 | $0 | June 4, 2026 |
| Ann Mather | Director | Stock award | $0.00 | $0 | June 4, 2026 |
| Pamela Thomas-Graham | Director | Stock award | $0.00 | $0 | June 4, 2026 |
| Elisa A. Steele | Director | Stock award | $0.00 | $0 | June 4, 2026 |
| Amy Griffin | Director | Stock award | $0.00 | $0 | June 4, 2026 |
| Sissie L. Hsiao | Director | Stock award | $0.00 | $0 | June 4, 2026 |
| Blackstone Holdings III GP Management, L.L.C. | 10% beneficial owner | Sale | $3.51 | $26.25 million | March 17, 2026 |
These transactions establish the direction and size of reported insider activity but do not, on their own, explain the sellers’ motives or their views of Bumble’s prospects.
Risks investors need to watch
- Continued paying-user losses: Total paying users declined 16.4%, with double-digit decreases across both Bumble App and Badoo App and Other. Further contraction would continue to pressure revenue unless monetization improves enough to compensate.
- Execution of major product changes: Bumble is simultaneously migrating its platform, transforming matching algorithms, and introducing new conversation and group features. The company must execute these changes while retaining and converting members.
- Lower near-term profitability: Q3 adjusted EBITDA guidance is $56 million to $60 million, below Q2’s $72.9 million, as Bumble increases investment in product, technology, and brand.
- GAAP earnings volatility: The quarter included a $169.3 million impairment charge. Although non-cash and excluded from adjusted EBITDA, such charges can materially affect reported operating and net results.
- Debt and liquidity demands: Bumble had $451.0 million of debt against $154.0 million of cash at quarter-end, while quarterly interest expense increased to $13.9 million from $10.3 million.
Summary
Bumble’s Q2 2026 results were defined by a shrinking paying-user base that drove a 15.2% revenue decline. Higher gross margin and a much smaller impairment charge improved some GAAP comparisons, but adjusted EBITDA, cash flow, and adjusted margin all weakened. The next test is whether Bumble’s platform and product investments can stabilize user trends without creating a prolonged decline in profitability.
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