Grindr Inc.

Listed Company

GRNDCIK 0001820144NYSELarge AcceleratedServices-Computer Programming, Data Processing, Etc.DelawareFY ends Dec 31

Period

FY 2025

Revenue

$439.90M

Net Income

$94.75M

Total Assets

$531.03M

Equity

$47.01M

Shares Out

185.15M

Op. Cash Flow

$141.52M

Business

Grindr Inc. operates the Grindr platform, a global social networking service that enables gay, bisexual, transgender, and queer adults to discover, connect, and express themselves. Its flagship product is a location-based mobile application (with limited web functionality) offering profiles, chat, media sharing, identity expression, trust and safety tools, and premium subscription features. The company generates direct revenue from subscriptions and add-ons and indirect revenue from third‑party advertising, alongside community initiatives like Grindr for Equality. The platform serves users in over 190 countries, primarily via mobile app distribution, with largest markets in North America and Europe.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	440	345	260	195	146
Cost of revenue (exclusive of depreciation and amortization shown separately below)	113	88	67	51	37
Selling, general and administrative expense	143	115	80	75	31
Product development expense	49	33	29	18	11
Depreciation and amortization	9	17	27	38	43
Total operating expenses	314	252	204	182	122
Income from operations	126	93	55	13	24
Interest expense, net	−18	−26	−46	—	—
Other income (expense), net	63,000	−715,000	85,000	−3	1
Loss on extinguishment of debt	0	0	−12	0	—
Gain (loss) in fair value of warrant liability	10	−185	−50	21	—
Total other expense, net	−8	−211	−107	−13	−17
Net income (loss) before income tax	119	−118	−52	−7,000	6
Income tax provision	24	13	4	−859,000	1
Net income (loss)	95	−131	−56	852,000	5
Basic (in USD per share)	0.45	−0.74	−0.32	0.01	0.03
Diluted (in USD per share)	0.43	−0.74	−0.32	0.01	0.03
Basic (in shares)	190	176	174	158	153
Diluted (in shares)	195	176	174	159	153

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	87	59	28	9	16
Accounts receivable, net of allowances of $15 and $39 at December 31, 2025 and December 31, 2024, respectively	68	50	34	22	18
Prepaid expenses	5	3	4	8	2
Deferred charges	5	4	4	4	5
Other current assets	1	2	2	750,000	3
Total current assets	166	117	72	43	44
Restricted cash	605,000	605,000	1	1	1
Property and equipment, net	1	2	2	2	2
Capitalized software development costs, net	13	9	7	7	4
Intangible assets, net	66	70	82	105	140
Goodwill	276	276	276	276	259
Deferred tax asset	0	1	0	—	—
Right-of-use assets	5	3	3	5	6
Other assets	4	1	1	64,000	84,000
Total assets	531	479	445	439	450
Accounts payable	2	3	4	5	2
Accrued expenses and other current liabilities	39	30	23	16	4
Current maturities of long-term debt, net	20	15	15	22	4
Deferred revenue	24	20	19	19	20
Total current liabilities	85	68	61	62	30
Long-term debt, net	376	276	326	338	133
Warrant liability	0	252	68	18	—
Lease liability	3	963,000	2	4	0
Deferred tax liability	1	0	5	13	21
Other non-current liabilities	19	14	2	327,000	2
Total liabilities	484	611	463	435	186
Commitments and Contingencies (Note 18)	—	—	—	—	—
Preferred stock, par value $0.0001; 100,000,000 shares authorized; none issued and outstanding at December 31, 2025 and December 31, 2024, respectively	0	0	0	0	0
Common stock, par value $0.0001; 1,000,000,000 shares authorized; 185,034,502 and 177,193,667 shares outstanding; 185,034,502 and 178,567,403 shares issued at December 31, 2025 and December 31, 2024, respectively	18,000	18,000	18,000	17,000	16,000
Treasury stock	0	−14	−2	0	—
Additional paid-in capital	144	75	45	9	269
Accumulated deficit	−97	−192	−61	−5	−6
Total stockholders equity (deficit)	47	−132	−18	4	263
Total liabilities and stockholders equity (deficit)	531	479	445	439	450

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	55	37	16	28	3
Amortization of debt discount and issuance costs	914,000	909,000	2	1	1
Interest income on promissory note from member	0	0	−282,000	−3	−2
Depreciation and amortization	9	17	27	38	43
Provision for expected credit losses	−24,000	−718,000	421,000	282,000	53,000
Deferred income taxes	3	−6	−8	−11	−4
Non-cash lease expense	3	2	1	1	0
Accounts receivable	−18	−15	−12	−5	−6
Prepaid expenses and deferred charges	−3	1	3	−4	−2
Other current assets	405,000	734,000	−2	3	−3
Other assets	−241,000	−296,000	−350,000	20,000	37,000
Accounts payable	−2	−461,000	−713,000	2	2
Accrued expenses and other current liabilities	9	7	5	10	−7
Deferred revenue	4	789,000	595,000	−1	7
Lease liability	−3	−3	−1	−2	0
Other liabilities	−167,000	11,000	−11,000	615,000	−720,000
Net cash provided by operating activities	142	95	36	51	34
Purchases of property and equipment	−746,000	−945,000	−509,000	−430,000	−269,000
Additions to capitalized software development costs	−8	−4	−4	—	—
Net cash used in investing activities	−9	−5	−4	−6	−4
Proceeds from the exercise of stock options	2	4	3	2	1
Proceeds from the exercise of warrants	314	1,000	0	—	—
Payment for redemption of warrants	−58,000	0	0	—	—
Proceeds from issuance of debt	415	0	344	231	0
Principal payments on debt	−309	−51	−367	−3	−57
Payment of debt issuance costs	−3	0	−5	−5	−960,000
Payment for the purchase of equity instruments	−50	0	0	—	—
Withholding taxes paid on stock-based compensation	−24	−12	0	—	—
Repurchases of common stock under the stock repurchase program	−451	0	0	—	—
Transaction costs paid in connection with the Business Combination	0	0	−1	−28	0
Proceeds from the repayment of promissory note to a member including interest	0	0	19	0	0
Payment of early termination fee related to the extinguishment of debt	0	0	−6	0	—
Net cash used in financing activities	−105	−59	−13	−52	−56
Net increase in cash, cash equivalents and restricted cash	28	31	19	−7	−26
Cash interest paid	20	26	48	18	23
Income taxes paid	21	17	18	2	10
Capitalized software development costs accrued but not paid	576,000	232,000	0	—	—
Withholding taxes on stock-based compensation accrued but not paid	0	64,000	2	—	—
Issuance of common stock for the settlement of certain market condition liability-classified equity awards	9	4	0	—	—
Issuance of common stock for the settlement of KPI Awards	4	2	0	—	—
Issuance of common stock for the cashless exercise of warrants	63	0	0	—	—
Issuance of common stock for the exercise of warrants	179	0	0	—	—

Filings

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