Filing Flows › Grindr (GRND) › Q1 2025
Grindr (GRND) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Grindr (GRND) reported revenue of $93.9M for the first quarter 2025 (Q1 2025), +25% from a year earlier and -4% from the quarter before. Operating margin was 27.0%, net earnings $27.0M (28.8% of revenue).
Grindr, Q1 2025: revenue $93.9M (+25% year over year), operating margin 27.0%, net earnings $27.0M, operating cash flow $23.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $93.9M | -4% | +25% |
| Operating profit | $25.4M | +24% | +32% |
| Net earnings | $27.0M | — | — |
| Operating cash flow | $23.8M | -19% | +16% |
| Free cash flow | $23.2M | — | +20% |
What changed
Revenue was $93.9M in Q1 2025, up 25% year over year and down 4% from the previous quarter. Direct revenue was the largest line at 85% of revenue. Direct revenue added $15.7M year over year (up 24%), 84% of the total change.
Operating profit was $25.4M, a 27.0% margin (up 1.5 points year over year). Of the extra revenue versus a year earlier, 33% reached operating profit, above the 26% margin then. Total costs grew 22% against revenue growth of 25%. The fastest-growing cost line was Research & development (+79%). Net earnings were $27.0M. The effective tax rate was 14.4%.
Operating cash flow was $23.8M (up 16% year over year), 88% of net earnings. Non-cash charges added back $3.5M of depreciation and amortization and $10.9M of share-based compensation. Working capital and other items used $17.6M. After capitalized development software costs and purchases of property and equipment ($628K), free cash flow as the company reports it was $23.2M.
Questions
What was Grindr's revenue in the first quarter 2025?
Grindr (GRND) reported revenue of $93.9M for the first quarter 2025 (Q1 2025), +25% from a year earlier and -4% from the quarter before.
Was Grindr profitable in the first quarter 2025?
Operating profit was $25.4M (27.0% of revenue) and net earnings $27.0M.
Source: Grindr 10-Q on SEC EDGAR.