The following is a summary of the Bumble, Inc. (BMBL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Bumble's Q1 2024 revenue increased by 10% year-on-year to $268 million, with the Bumble app contributing $216 million, an 11% increase.

• Badoo App and Other revenue grew 7% to $52 million.

• The quarter saw an increase in total paying users by 16% to 4 million, with Average Revenue Per Paying User (ARPPU) at $21.84, a 4% decline.

• Bumble reported net earnings of $34 million compared to a loss of $2 million in the prior year period.

• The company returned $84 million to shareholders through a stock repurchase program during the quarter.

Business Progress:

• The company noted positive growth in user base, with 42,000 net additions during the quarter for the Bumble app.

• Significant updates to the Bumble app were launched for user engagement and to meet the evolving needs of Gen Z.

• Bumble advanced on safety features, including photo verification, and expanded monetization with an updated Premium+ subscription tier.

• A fresh look into the Bumble for Friends (BFF) portfolio is underway, with inputs from the Gen Z audience for enhancing real-life connections.

• AI technology is being integrated into their service for enhanced customer experience and efficiency.

• Senior leadership additions in product, engineering, operations, and people have been made to aid organizational transformation.

• The first half of the year is expected to see slower growth, particularly from the U.S., but optimism remains high for the second half, propelled by product relaunches, new feature launches, and marketing efforts. M&A opportunities are also being explored as part of the business strategy.

More details: Bumble IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.