Grindr (GRND) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-39714
Entity Registrant Name	Grindr Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	92-1079067
Entity Address, Address Line One	PO Box 69176
Entity Address, Address Line Two	750 N. San Vicente Blvd.
Entity Address, Address Line Three	Suite RE 1400
Entity Address, City or Town	West Hollywood
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90069
City Area Code	310
Local Phone Number	776-6680
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		176,612,391
Central Index Key	0001820144
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	GRND
Security Exchange Name	NYSE
Public and Private Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
Trading Symbol	GRND.WS
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 39,120	$ 27,606
Accounts receivable, net of allowance of $114 and $757, at September 30, 2024, and December 31, 2023, respectively	43,984	33,906
Prepaid expenses	5,188	4,190
Deferred charges	3,773	3,635
Other current assets	605	2,413
Total current assets	92,670	71,750
Restricted cash	605	1,392
Property and equipment, net	1,652	1,576
Capitalized software development costs, net	8,665	7,433
Intangible assets, net	72,987	82,332
Goodwill	275,703	275,703
Right-of-use assets	2,922	3,362
Other assets	1,141	1,047
Total assets	456,345	444,595
Current Liabilities
Accounts payable	2,082	3,526
Accrued expenses and other current liabilities	26,371	22,934
Current maturities of long-term debt, net	15,000	15,000
Deferred revenue	19,895	19,181
Total current liabilities	63,348	60,641
Long-term debt, net	279,136	325,600
Warrant liability	113,200	67,622
Lease liability	1,030	2,241
Deferred tax liability	3,422	4,665
Other non-current liabilities	9,612	2,118
Total liabilities	469,748	462,887
Commitments and Contingencies (Note 14)
Stockholders’ Deficit
Preferred stock, par value $0.0001; $100,000,000 shares authorized; none issued and outstanding at September 30, 2024, and December 31, 2023, respectively	0	0
Common stock, par value $0.0001; $1,000,000,000 shares authorized; $177,085,154 and $175,377,711 shares issued at September 30, 2024, and December 31, 2023, respectively; $176,188,289 and $175,020,471 outstanding at September 30, 2024, and December 31, 2023, respectively	18	18
Treasury stock	(7,776)	(2,154)
Additional paid-in capital	62,315	44,655
Accumulated deficit	(67,960)	(60,811)
Total stockholders’ deficit	(13,403)	(18,292)
Total liabilities and stockholders’ deficit	$ 456,345	$ 444,595

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 114	$ 757
Preferred stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	177,085,154	175,377,711
Common stock, shares outstanding (in shares)	176,188,289	175,020,471

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 89,325	$ 70,258	$ 247,015	$ 187,605
Operating costs and expenses
Cost of revenue (exclusive of depreciation and amortization shown separately below)	22,915	18,243	63,534	49,168
Selling, general and administrative expense	24,976	16,420	76,387	52,523
Product development expense	8,806	13,270	22,301	24,976
Depreciation and amortization	4,241	5,753	12,595	21,845
Total operating expenses	60,938	53,686	174,817	148,512
Income from operations	28,387	16,572	72,198	39,093
Other income (expense)
Interest expense, net	(6,400)	(11,985)	(20,254)	(35,695)
Other income (expense), net	68	(390)	(276)	(98)
Gain (loss) in fair value of warrant liability	8,219	(3,362)	(45,579)	(11,581)
Total other income (loss), net	1,887	(15,737)	(66,109)	(47,374)
Net income (loss) before income tax	30,274	835	6,089	(8,281)
Income tax provision	5,593	1,272	13,238	2,724
Net income (loss) and comprehensive income (loss)	$ 24,681	$ (437)	$ (7,149)	$ (11,005)
Net income (loss) per share
Basic (in USD per share)	$ 0.14	$ 0	$ (0.04)	$ (0.06)
Diluted (in USD per share)	$ 0.09	$ 0	$ (0.04)	$ (0.06)
Weighted-average shares outstanding:
Basic (in shares)	176,034,571	174,113,605	175,610,399	173,871,888
Diluted (in shares)	179,961,828	174,113,605	175,610,399	173,871,888

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders’ Deficit (unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Treasury Stock	Additional paid-in capital	Accumulated deficit
Preferred stock, beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022	$ 4,052	$ 0	$ 17	$ 0	$ 9,078	$ (5,043)
Common stock, beginning balance (in shares) at Dec. 31, 2022			173,524,360
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	(32,899)					(32,899)
Interest on the promissory note to a member	(282)				(282)
Repayment of promissory note to a member	18,833				18,833
Payment of interest on promissory note to a member	520				520
Stock-based compensation	3,126				3,126
Vested restricted stock units (in shares)			21,875
Exercise of stock options (in shares)			296,477
Exercise of stock options	1,010				1,010
Preferred stock, ending balance (in shares) at Mar. 31, 2023		0
Ending balance at Mar. 31, 2023	(5,640)	$ 0	$ 17	$ 0	32,285	(37,942)
Common stock, ending balance (in shares) at Mar. 31, 2023			173,842,712
Treasury stock, ending balance (in shares) at Mar. 31, 2023				0
Preferred stock, beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022	4,052	$ 0	$ 17	$ 0	9,078	(5,043)
Common stock, beginning balance (in shares) at Dec. 31, 2022			173,524,360
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	(11,005)
Preferred stock, ending balance (in shares) at Sep. 30, 2023		0
Ending balance at Sep. 30, 2023	24,144	$ 0	$ 17	$ 0	40,175	(16,048)
Common stock, ending balance (in shares) at Sep. 30, 2023			174,206,564
Treasury stock, ending balance (in shares) at Sep. 30, 2023				0
Preferred stock, beginning balance (in shares) at Mar. 31, 2023		0
Beginning balance at Mar. 31, 2023	(5,640)	$ 0	$ 17	$ 0	32,285	(37,942)
Common stock, beginning balance (in shares) at Mar. 31, 2023			173,842,712
Treasury stock, beginning balance (in shares) at Mar. 31, 2023				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	22,331					22,331
Stock-based compensation	3,432				3,432
Vested restricted stock units (in shares)			21,875
Exercise of stock options (in shares)			189,072
Exercise of stock options	674				674
Preferred stock, ending balance (in shares) at Jun. 30, 2023		0
Ending balance at Jun. 30, 2023	20,797	$ 0	$ 17	$ 0	36,391	(15,611)
Common stock, ending balance (in shares) at Jun. 30, 2023			174,053,659
Treasury stock, ending balance (in shares) at Jun. 30, 2023				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	(437)					(437)
Pre-Closing entity income tax adjustment	(148)				(148)
Stock-based compensation	3,474				3,474
Vested restricted stock units (in shares)			31,180
Exercise of stock options (in shares)			121,725
Exercise of stock options	458				458
Preferred stock, ending balance (in shares) at Sep. 30, 2023		0
Ending balance at Sep. 30, 2023	$ 24,144	$ 0	$ 17	$ 0	40,175	(16,048)
Common stock, ending balance (in shares) at Sep. 30, 2023			174,206,564
Treasury stock, ending balance (in shares) at Sep. 30, 2023				0
Preferred stock, beginning balance (in shares) at Dec. 31, 2023	0	0
Beginning balance at Dec. 31, 2023	$ (18,292)	$ 0	$ 18	$ (2,154)	44,655	(60,811)
Common stock, beginning balance (in shares) at Dec. 31, 2023	175,020,471		175,377,711
Treasury stock, beginning balance (in shares) at Dec. 31, 2023				357,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	$ (9,406)					(9,406)
Stock-based compensation	6,259				6,259
Vested restricted stock units (in shares)			363,793
Exercise of stock options (in shares)			164,295
Exercise of stock options	916				916
Repurchase of common stock for net settlement of equity awards (in shares)				157,276
Repurchase of common stock for net settlement of equity awards	(1,494)			$ (1,494)
Preferred stock, ending balance (in shares) at Mar. 31, 2024		0
Ending balance at Mar. 31, 2024	$ (22,017)	$ 0	$ 18	$ (3,648)	51,830	(70,217)
Common stock, ending balance (in shares) at Mar. 31, 2024			175,905,799
Treasury stock, ending balance (in shares) at Mar. 31, 2024				514,516
Preferred stock, beginning balance (in shares) at Dec. 31, 2023	0	0
Beginning balance at Dec. 31, 2023	$ (18,292)	$ 0	$ 18	$ (2,154)	44,655	(60,811)
Common stock, beginning balance (in shares) at Dec. 31, 2023	175,020,471		175,377,711
Treasury stock, beginning balance (in shares) at Dec. 31, 2023				357,240
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	$ (7,149)
Exercise of stock options (in shares)	452,614
Preferred stock, ending balance (in shares) at Sep. 30, 2024	0	0
Ending balance at Sep. 30, 2024	$ (13,403)	$ 0	$ 18	$ (7,776)	62,315	(67,960)
Common stock, ending balance (in shares) at Sep. 30, 2024	176,188,289		177,085,154
Treasury stock, ending balance (in shares) at Sep. 30, 2024				896,865
Preferred stock, beginning balance (in shares) at Mar. 31, 2024		0
Beginning balance at Mar. 31, 2024	$ (22,017)	$ 0	$ 18	$ (3,648)	51,830	(70,217)
Common stock, beginning balance (in shares) at Mar. 31, 2024			175,905,799
Treasury stock, beginning balance (in shares) at Mar. 31, 2024				514,516
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	(22,424)					(22,424)
Stock-based compensation	4,363				4,363
Vested restricted stock units (in shares)			570,442
Exercise of stock options (in shares)			236,129
Exercise of stock options	816				816
Repurchase of common stock for net settlement of equity awards (in shares)				244,751
Repurchase of common stock for net settlement of equity awards	(2,484)			$ (2,484)
Preferred stock, ending balance (in shares) at Jun. 30, 2024		0
Ending balance at Jun. 30, 2024	(41,746)	$ 0	$ 18	$ (6,132)	57,009	(92,641)
Common stock, ending balance (in shares) at Jun. 30, 2024			176,712,370
Treasury stock, ending balance (in shares) at Jun. 30, 2024				759,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income and comprehensive (loss) income	24,681					24,681
Stock-based compensation	5,005				5,005
Vested restricted stock units (in shares)			320,431
Exercise of stock options (in shares)			52,190
Exercise of stock options	299				299
Exercise of warrants (in shares)			163
Exercise of warrants	2				2
Repurchase of common stock for net settlement of equity awards (in shares)				137,598
Repurchase of common stock for net settlement of equity awards	$ (1,644)			$ (1,644)
Preferred stock, ending balance (in shares) at Sep. 30, 2024	0	0
Ending balance at Sep. 30, 2024	$ (13,403)	$ 0	$ 18	$ (7,776)	$ 62,315	$ (67,960)
Common stock, ending balance (in shares) at Sep. 30, 2024	176,188,289		177,085,154
Treasury stock, ending balance (in shares) at Sep. 30, 2024				896,865

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Deficit (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Sep. 30, 2023
Preferred stock, par value (in USD per share)	$ 0.0001
Common stock, par value (in USD per share)	0.0001
Preferred Stock
Preferred stock, par value (in USD per share)	0.0001	$ 0.0001
Common Stock
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net loss and comprehensive loss	$ (7,149)	$ (11,005)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock-based compensation	22,642	10,594
Loss in fair value of warrant liability	45,579	11,581
Amortization of debt discount and issuance costs	683	1,452
Interest income on promissory note from member	0	(282)
Depreciation and amortization	12,595	21,845
Provision for expected credit losses	(642)	540
Deferred income taxes	(1,243)	(7,221)
Non-cash lease expense	1,237	867
Changes in operating assets and liabilities:
Accounts receivable	(9,436)	(10,416)
Prepaid expenses and deferred charges	(1,136)	1,621
Other current assets	1,808	538
Other assets	(191)	(175)
Accounts payable	(1,660)	(2,883)
Accrued expenses and other current liabilities	3,619	6,542
Deferred revenue	714	561
Lease liability	(2,008)	(1,043)
Other liabilities	12	0
Net cash provided by operating activities	65,424	23,116
Investing activities
Purchases of property and equipment	(699)	(241)
Additions to capitalized software	(3,388)	(3,248)
Net cash used in investing activities	(4,087)	(3,489)
Financing activities
Proceeds from the exercise of stock options	2,031	2,142
Proceeds from the exercise of warrants	1	0
Principal payments on debt	(47,050)	(18,703)
Withholding taxes paid on stock-based compensation	(5,592)	0
Transaction costs paid in connection with the Business Combination	0	(1,196)
Proceeds from the repayment of promissory note to a member including interest	0	19,353
Net cash (used in) provided by financing activities	(50,610)	1,596
Net increase in cash, cash equivalents and restricted cash	10,727	21,223
Cash, cash equivalents and restricted cash, beginning of the period	28,998	10,117
Cash, cash equivalents and restricted cash, end of the period	39,725	31,340
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	39,120	29,948
Restricted cash	605	1,392
Cash, cash equivalents and restricted cash	39,725	31,340
Supplemental disclosure of cash flow information:
Cash interest paid	20,291	34,973
Income taxes paid	9,959	5,494
Supplemental disclosure of non-cash investing activities:
Capitalized software development costs accrued but not paid	292	0
Supplemental disclosure of non-cash financing activities:
Repurchase of common stock for net settlement of equity awards	$ 51	$ 0

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Grindr Inc. (the “Company” or “Grindr”) is headquartered in West Hollywood, California, and has additional offices in the San Francisco Bay Area, Chicago, and New York City. The Company operates the Grindr platform, a global social network platform serving and addressing the needs of gay, bisexual, and sexually explorative people around the world. The Grindr platform is available as an app through Apple’s app store ("Apple") and Google Play. The Company offers both a free, advertising-supported service and a premium subscription version. Grindr was originally incorporated in the Cayman Islands on July 27, 2020, under the name Tiga Acquisition Corp. (“Tiga”), a special-purpose acquisition company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or engaging in any other similar business combination with one or more businesses or entities. On May 9, 2022, Grindr Group LLC (“Grindr Group”) and its subsidiaries (Grindr Group together with its subsidiaries, “Legacy Grindr”) entered into an Agreement and Plan of Merger (as amended on October 5, 2022, the “Merger Agreement”) with Tiga, in which Grindr Group became a wholly owned subsidiary of Tiga (the “Business Combination”). On November 17, 2022, Tiga was redomiciled to the United States. Upon the closing of the Business Combination on November 18, 2022 (the “Closing”), Tiga was renamed to “Grindr Inc.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation The Business Combination was accounted for as a reverse recapitalization under the accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under this method of accounting, Tiga was treated as the acquired company for financial reporting purposes. This determination was primarily based on (i) the Legacy Grindr unitholders having a relative majority of the voting power of Grindr, (ii) Legacy Grindr unitholders having the ability to nominate the majority of the members of the board of directors of the Company (the “Board”), and (iii) Legacy Grindr senior management comprising the senior management roles of Grindr and being responsible for the Company’s day-to-day operations and strategy. Accordingly, for accounting purposes, the financial statements of Grindr represent a continuation of the financial statements of Legacy Grindr with the Business Combination being treated as the equivalent of Legacy Grindr issuing shares for the net assets of Tiga, accompanied by a recapitalization. The net assets of Tiga were recognized as of the Closing at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are presented as those of Legacy Grindr and the accumulated deficit of Legacy Grindr has been carried forward after Closing. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the condensed consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2023. The unaudited condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries after elimination of intercompany transactions and balances. The operating results for the three and nine months ended September 30, 2024, are not necessarily indicative of the results expected for the full year ending December 31, 2024. Accounting Estimates Management of the Company is required to make certain estimates, judgments, and assumptions during the preparation of its condensed consolidated financial statements in accordance with U.S. GAAP. These estimates, judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates and judgments including those related to: the useful lives and recoverability of property and equipment and definite-lived intangible assets; the recoverability of goodwill and indefinite-lived intangible assets; the carrying value of accounts receivable, including the determination of the allowance for credit losses; the fair value of common stock warrant liabilities; valuation allowance for deferred tax assets; effective income tax rate; unrecognized tax benefits; legal contingencies; the incremental borrowing rate for the Company's leases; and the valuation of stock-based compensation, among others. Segment Information The Company operates as one segment. The Company’s operating segments are identified according to how the performance of its business is managed and evaluated by its chief operating decision maker (“CODM”), the Company’s Chief Executive Officer (“CEO”). Substantially all of the Company’s long-lived assets are attributed to operations in the U.S. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable: Level 1 - Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets. Level 2 - Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active, and inputs that are derived principally from or corroborated by observable market data. Level 3 - Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities. Recurring Fair Value Measurements The following methods and assumptions were used to estimate the fair value of each class of financial assets and liabilities for which it is practicable to estimate fair value: • Money market funds and U.S. treasury bonds — The carrying amount of money market funds and U.S. treasury bonds approximates fair value and is classified within Level 1 as these securities are traded on an active public market. • Warrant liability — Public Warrants (as defined in Note 8) are classified within Level 1 as these securities are traded on an active public market. Private Warrants (as defined in Note 8) are classified within Level 2. For the periods presented, the Company utilized the value of the Public Warrants as an approximation of the value of the Private Warrants as they are substantially similar to the Public Warrants, but not directly traded or quoted on an active market. The Company’s remaining financial instruments that are measured at fair value on a recurring basis consist primarily of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, and other current liabilities. The Company believes their carrying values are representative of their fair values due to their short-term maturities. The fair values of the Company’s credit agreement balances as disclosed in Note 6 are measured based on prices quoted from a third-party financial institution. Nonrecurring Fair Value Measurements Assets acquired and liabilities assumed in business combinations are initially measured at fair value on the acquisition date on a nonrecurring basis using Level 3 inputs. The Company is required to measure certain assets at fair value on a nonrecurring basis after initial recognition. These include goodwill, intangible assets, and long-lived assets, which are measured at fair value on a nonrecurring basis as a result of impairment reviews. Impairment is assessed annually in the fourth quarter or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit or assets below the carrying value. The fair value of the reporting unit or asset group is determined primarily using cost and market approaches (Level 3). Revenue Recognition Revenue is recognized when or as a customer obtains control of promised services. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to in exchange for these services. The Company derives substantially all of its revenue from direct revenue and indirect revenue, each as described below. As permitted under the practical expedient available under Accounting Standards Update (“ASU”) 2014-09, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue for the amount at which the Company has the right to invoice for services performed. Direct Revenue Direct revenue consists of subscription revenue. Subscription revenue is generated through the sale of subscriptions that are currently offered or renewed in one-week, one-month, three-month, six-month, and twelve-month lengths. Subscription revenue is initially deferred and is recognized using the straight-line method over the term of the applicable subscription period. Direct revenue also consists of premium add-on revenue generated through the sale of an add-on feature on a pay-per-use, or a-la-carte, basis. Premium features are activated upon purchase and are available for a short duration, generally, within one day. Revenue from premium add-ons is recognized upon purchase of the premium add-on. Direct revenue is recorded net of taxes, credits, and chargebacks. Customers pay in advance, primarily through mobile app stores. Subject to certain conditions identified in the Company’s terms and conditions, generally all purchases are final and nonrefundable. Indirect Revenue Indirect revenue consists of advertising revenue and other non-direct revenue. The Company has contractual relationships with advertising service providers and also directly with advertisers to display advertisements on the Grindr platform. For all advertising arrangements, the Company’s performance obligation is to provide the inventory for advertisements to be displayed on the Grindr platform. For contracts made directly with advertisers, the Company is also obligated to serve the advertisements on the Grindr platform. Providing the advertising inventory and serving the advertisement is considered a single performance obligation, as the advertiser cannot benefit from the advertising space without its advertisements being displayed. The pricing and terms for all advertising arrangements are governed by either a master contract or insertion order. The transaction price in advertising arrangements is generally the product of the number of advertising units delivered (e.g., impressions, offers completed, videos viewed, etc.) and the contractually agreed upon price per advertising unit. Further, for advertising transactions with advertising service providers, the contractually agreed upon price per advertising unit is generally based on the Company’s revenue share or fixed revenue rate as stated in the contract. The number of advertising units delivered is determined at the end of each month, which resolves any uncertainty in the transaction price during the reporting period. Revenue from advertising transactions with advertising service providers is recognized net of the amounts retained by the advertising service provider as the Company does not know and expects not to know the gross amount paid by advertisers. Accounts Receivable, net of allowance for credit losses Grindr users generally access the Company app and pay for subscriptions and premium add-on features through Apple or Google Play. The Company evaluates the credit worthiness of these mobile app stores on an ongoing basis and does not require collateral from these entities. Accounts receivable also include amounts billed and currently due from advertising customers. The Company maintains an allowance for credit losses to provide for the estimated amount of accounts receivable that will not be collected. The allowance for credit losses is based upon historical collection trends adjusted for economic conditions using reasonable and supportable forecasts. The accounts receivable balances, net of allowances, were $43,984 and $33,906 as of September 30, 2024, and December 31, 2023, respectively. The opening balance of accounts receivable, net of allowances, was $22,435 as of January 1, 2023. Contract Liabilities Deferred revenue consists of advance payments that are received in advance of the Company’s performance. The Company classifies subscription deferred revenue as current and recognizes revenue straight-line over the term of the applicable subscription period or expected completion of the performance obligation which range from one week to twelve months. The deferred revenue balances were $19,895 and $19,181 as of September 30, 2024, and December 31, 2023, respectively. The opening balance of deferred revenue was $18,586 as of January 1, 2023. For the three and nine months ended September 30, 2024 , the Company recognized revenue of $1,991 and $18,610, respectively, that was included in the deferred revenue balance as of December 31, 2023 . For the three and nine months ended September 30, 2023 , the Company recognized revenue of $1,239 and $18,116, respectively, that was included in the deferred revenue balance as of December 31, 2022. Disaggregation of Revenue The following tables summarize revenue from contracts with customers for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Direct revenue $ 76,907 $ 61,575 $ 211,203 $ 162,886 Indirect revenue 12,418 8,683 35,812 24,719 $ 89,325 $ 70,258 $ 247,015 $ 187,605 Three Months Ended Nine Months Ended 2024 2023 2024 2023 North America (1) $ 53,339 $ 42,570 $ 148,948 $ 115,272 Europe 22,763 17,407 60,575 44,554 Rest of the world 13,223 10,281 37,492 27,779 $ 89,325 $ 70,258 $ 247,015 $ 187,605 (1) North America includes revenue generated only from the U.S. and Canada. During the three and nine months ended September 30, 2024, revenue generated from the U.S., the Company’s country of domicile, amounted to $50,830 and $142,082, respectively. During the three and nine months ended September 30, 2023, revenue generated from the U.S. amounted to $40,450 and $109,823, respectively. Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) allows the Company to delay adoption of new or revised pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies. Accounting Pronouncements Not Yet Adopted In June 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which applies to all equity securities measured at fair value that are subject to contractual sale restrictions. This change prohibits entities from taking into account contractual restrictions on the sale of equity securities when estimating fair value and introduces required disclosures for such transactions. The standard will become effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company will assess any impact from the adoption of this guidance if such transactions occur in the future. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public business entities that disclose information on their reportable segments to provide additional information on their significant expense categories and “other segment items,” which represent the difference between segment revenue less significant segment expense and a segment’s measure of profit or loss. A description of “other segment items” is also required. Further, certain segment related disclosures that were limited to annual disclosure are now required at interim periods. Finally, public business entities are required to disclose the title and position of their CODM and explain how the CODM uses the reported measures of profit or loss to assess segment performance. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and could result in additional disclosure for the Company. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740), which requires more detailed income tax disclosures. The guidance requires entities to disclose disaggregated information about their effective tax rate reconciliation as well as expanded information on income taxes paid by jurisdiction. The disclosure requirements will be applied on a prospective basis, with the option to apply them retrospectively. The standard is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the disclosure requirements related to the new standard.

Other Current Assets

Other Current Assets	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	Other Current Assets Other current assets consist of the following: September 30, December 31, Cloud computing arrangements implementation costs $ 113 $ 172 Income tax receivable — 1,537 Other current assets 492 704 $ 605 $ 2,413

Promissory Note from a Member

Promissory Note from a Member	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Promissory Note from a Member	Promissory Note from a Member On April 27, 2021, Catapult GP II LLC (“Catapult GP II”), a related party wherein certain members of Catapult GP II were executives of the Company, purchased 5,387,194 common units of Legacy Grindr which were converted to 7,385,233 shares of common stock of the Company upon the Closing. In conjunction with the common units purchased, the Company entered into a full recourse promissory note with Catapult GP II with a face value of $30,000 (the “Note”). The Note, including all unpaid interest, was to be repaid the earlier of (1) the ten The Note, including interest, was fully paid in the first quarter of 2023. The Note and the related accrued interest were reflected as a reduction to equity in the condensed consolidated statements of stockholders’ deficit.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: September 30, December 31, Employee compensation and benefits $ 8,516 $ 7,285 Litigation-related funds received from escrow (see Note 14) 5,929 5,929 Income and other taxes payable 4,544 1,389 Lease liability, short-term 2,219 1,405 Accrued professional service fees 1,973 3,252 Accrued infrastructure expense 1,162 900 Accrued legal expense 915 1,608 Accrued interest payable 98 174 Other accrued expenses 1,015 992 $ 26,371 $ 22,934

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Total debt for the Company is comprised of the following: September 30, December 31, Senior Term Loan Facility $ 285,750 $ 300,000 Senior Revolving Facility 11,600 44,400 297,350 344,400 Less: unamortized debt issuance and discount costs (3,214) (3,800) Total debt 294,136 340,600 Less: current maturities of long-term debt (15,000) (15,000) Long-term debt $ 279,136 $ 325,600 2023 Credit Agreement On November 28, 2023, a wholly owned subsidiary of the Company, Grindr Capital LLC (“Grindr Capital”), as borrower, entered into a credit agreement (the “2023 Credit Agreement”) with the Company and certain other wholly owned subsidiaries of the Company, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. The 2023 Credit Agreement provides for (i) a $300,000 senior secured term loan facility (“Senior Term Loan Facility”), and (ii) $50,000 senior secured revolving credit facility (“Senior Revolving Facility,” and together with the Senior Term Loan Facility, the “2023 Credit Facilities”) (with a $15,000 letter of credit sublimit and a $10,000 swingline loan sublimit). Grindr Capital has the option to request that lenders increase the amount available under the Senior Revolving Facility by, or obtain incremental term loans of, up to $100,000, subject to the terms of the 2023 Credit Agreement and only if existing or new lenders choose to provide additional term or revolving commitments. On November 28, 2023, Grindr Capital borrowed the full amount of the Senior Term Loan Facility and $44,400 under the Senior Revolving Facility. Proceeds from the initial drawings under the 2023 Credit Facilities and cash on hand were used to repay in full outstanding obligations under the Company's previous credit agreement and to pay fees, premiums, costs, and expenses, including fees payable in connection with the 2023 Credit Agreement. Unused commitments under the 2023 Credit Agreement as of September 30, 2024, amounted to $38,400. As of September 30, 2024, and December 31, 2023, there were no swingline loans or letter of credit outstanding under the 2023 Credit Agreement. Borrowings under the 2023 Credit Agreement (other than swingline loans) bear interest at a rate equal to either, at Grindr Capital’s option, (i) the highest of the Prime Rate (as defined in the 2023 Credit Agreement), the Federal Funds Rate (as defined in the 2023 Credit Agreement) plus 0.50%, or one-month Term SOFR (as defined in the 2023 Credit Agreement) plus 1.00% (the “Alternate Base Rate”); or (ii) Term SOFR; in each case plus an applicable margin ranging from 2.75% to 3.25% with respect to Term SOFR borrowings and 1.75% to 2.25% with respect to Alternate Base Rate borrowings. The interest rate in effect for 2023 Credit Agreement, other than swingline loans, as of September 30, 2024, and December 31, 2023, is 7.5% and 8.5%, respectively. Swingline loans under the 2023 Credit Agreement bear interest at the Alternate Base Rate plus the applicable margin. The applicable margin will be based upon the total net leverage ratio (as defined in the 2023 Credit Agreement) of the Company. Grindr Capital will also be required to pay a commitment fee for the unused portion of the Senior Revolving Facility, which will range from 0.375% to 0.50% per annum, depending on the total net leverage ratio of the Company. For the three and nine months ended September 30, 2024, the Company’s commitment fee was not significant. The Senior Term Loan Facility will amortize on a quarterly basis at 1.25% of the aggregate principal amount outstanding as of the initial closing date of the 2023 Credit Agreement, until the final maturity date on November 28, 2028. Any borrowing under the Senior Revolving Facility may be repaid, in whole or in part, at any time and from time to time, subject to prior notice and accompanied by accrued interest and break funding payments, and any amounts repaid may be reborrowed, in each case, until the maturity date on November 28, 2028. Mandatory prepayments are required under the Senior Revolving Facility when borrowings and letter of credit usage exceed the aggregate revolving commitments of all lenders. Mandatory prepayments are also required in connection with (i) certain asset dispositions and casualty events, in each case, to the extent the proceeds of such dispositions or casualty events exceed certain individual and aggregate thresholds and are not reinvested; and (ii) unpermitted debt transactions. For the three and nine months ended September 30, 2024, the Company was not required to make any mandatory prepayments. The 2023 Credit Agreement contains certain customary events of default, and if an event of default has occurred and continues beyond any applicable cure period, all outstanding obligations under the 2023 Credit Agreement may be accelerated or the commitments may be terminated, amongst other remedies. Additionally, the lenders are not obligated to fund any new borrowing under the 2023 Credit Agreement while an event of default is continuing. For the three and nine months ended September 30, 2024, the Company did not incur debt issuance costs in conjunction with the 2023 Credit Agreement. The amortization of such debt issuance costs is included in “Interest expense, net” on the condensed consolidated statements of operations and comprehensive income (loss). Covenants The 2023 Credit Agreement includes financial covenants, including the requirement for the Company to maintain (i) a total net leverage ratio no greater than a specified level, currently 4.00:1.00 prior to and through December 31, 2024, no greater than 3.50:1.00 prior to and through December 31, 2025 and no greater than 3.00:1.00 thereafter; and (ii) a fixed charge coverage ratio no less than 1.15:1.00 from March 31, 2024 and thereafter. The 2023 Credit Agreement also contains certain customary restrictive covenants regarding indebtedness, liens, fundamental changes, investments, restricted payments, disposition of assets, transactions with affiliates, hedging transactions, certain prepayments of indebtedness, amendments to organizational documents and sale and leaseback transactions. At September 30, 2024 and December 31, 2023, the Company was in compliance with the financial covenants under the 2023 Credit Agreement. Fair value The fair values of the Company’s 2023 Credit Agreement balances are measured based on prices quoted from a third-party financial institution, which the Company classifies as a Level 2 input within the fair value hierarchy. The estimated fair value of the 2023 Credit Agreement balances as of September 30, 2024 and December 31, 2023 were $295,863 and $342,678, respectively.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases Company as a lessee The Company has two operating leases for office space that have lease periods expiring in 2025 and 2026, each with an option to renew. Renewal options are not recognized as part of the right-of-use assets and lease liabilities as it was not reasonably certain at the lease commencement dates that the Company would exercise either or both of these options to extend the leases. The Company has signed a third operating lease for office space. However, the Company has not taken possession of the office space and, as such, no right-of use asset and lease liability has been recognized for this operating lease. The Company elected certain practical expedients under ASC Topic 842, Leases, which allows for the combination of lease and non-lease components of lease payments in determining right-of-use assets and related lease liabilities. The Company also elected the short-term lease exception. Leases with an initial term of twelve months or less that do not include an option to purchase the underlying asset are not recorded on the condensed consolidated balance sheets and are expensed on a straight-line basis over the lease term. Components of lease cost included in “Selling, general and administrative expenses” on the condensed consolidated statements of operations and comprehensive income (loss) are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease cost $ 579 $ 413 $ 1,515 $ 1,239 Short-term lease cost 244 — 891 — Sublease income (169) (189) (662) (566) Total lease cost $ 654 $ 224 $ 1,744 $ 673 Supplemental cash flow information related to the leases is as follows: Nine Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities $ 1,485 $ 1,267 Right-of-use assets obtained in exchange for lease liabilities: New lease entered into during the year $ 797 $ — Supplemental balance sheet information related to the leases as of September 30, 2024 and December 31, 2023, is as follows: September 30, December 31, Assets: Right-of-use assets $ 2,922 $ 3,362 Liabilities: Accrued expenses and other current liabilities 2,219 1,405 Lease liability, long-term portion 1,030 2,241 Total operating lease liabilities $ 3,249 $ 3,646 Weighted average remaining operating lease term (years) 1.4 2.3 Weighted average operating lease discount rate 5.12% 11.41% The Company’s leases do not provide a readily determinable implicit discount rate. The Company estimates its incremental borrowing rate as the discount rate based on the information available at the lease commencements. Future maturities of lease liabilities as of September 30, 2024, are as follows: Remainder of 2024 $ 636 2025 2,254 2026 605 Thereafter — Total lease payments $ 3,495 Less: imputed interest (246) Total lease liabilities $ 3,249 There were no leases with residual value guarantees as of September 30, 2024. Company as a lessor The Company is a sublessor on one operating lease that expires in April 2026. Future non-cancelable rent payments from the Company's sublease tenant as of September 30, 2024, were as follows: Remainder of 2024 $ 180 2025 729 2026 249 Thereafter — $ 1,158
Leases	Leases Company as a lessee The Company has two operating leases for office space that have lease periods expiring in 2025 and 2026, each with an option to renew. Renewal options are not recognized as part of the right-of-use assets and lease liabilities as it was not reasonably certain at the lease commencement dates that the Company would exercise either or both of these options to extend the leases. The Company has signed a third operating lease for office space. However, the Company has not taken possession of the office space and, as such, no right-of use asset and lease liability has been recognized for this operating lease. The Company elected certain practical expedients under ASC Topic 842, Leases, which allows for the combination of lease and non-lease components of lease payments in determining right-of-use assets and related lease liabilities. The Company also elected the short-term lease exception. Leases with an initial term of twelve months or less that do not include an option to purchase the underlying asset are not recorded on the condensed consolidated balance sheets and are expensed on a straight-line basis over the lease term. Components of lease cost included in “Selling, general and administrative expenses” on the condensed consolidated statements of operations and comprehensive income (loss) are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease cost $ 579 $ 413 $ 1,515 $ 1,239 Short-term lease cost 244 — 891 — Sublease income (169) (189) (662) (566) Total lease cost $ 654 $ 224 $ 1,744 $ 673 Supplemental cash flow information related to the leases is as follows: Nine Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities $ 1,485 $ 1,267 Right-of-use assets obtained in exchange for lease liabilities: New lease entered into during the year $ 797 $ — Supplemental balance sheet information related to the leases as of September 30, 2024 and December 31, 2023, is as follows: September 30, December 31, Assets: Right-of-use assets $ 2,922 $ 3,362 Liabilities: Accrued expenses and other current liabilities 2,219 1,405 Lease liability, long-term portion 1,030 2,241 Total operating lease liabilities $ 3,249 $ 3,646 Weighted average remaining operating lease term (years) 1.4 2.3 Weighted average operating lease discount rate 5.12% 11.41% The Company’s leases do not provide a readily determinable implicit discount rate. The Company estimates its incremental borrowing rate as the discount rate based on the information available at the lease commencements. Future maturities of lease liabilities as of September 30, 2024, are as follows: Remainder of 2024 $ 636 2025 2,254 2026 605 Thereafter — Total lease payments $ 3,495 Less: imputed interest (246) Total lease liabilities $ 3,249 There were no leases with residual value guarantees as of September 30, 2024. Company as a lessor The Company is a sublessor on one operating lease that expires in April 2026. Future non-cancelable rent payments from the Company's sublease tenant as of September 30, 2024, were as follows: Remainder of 2024 $ 180 2025 729 2026 249 Thereafter — $ 1,158

Warrant Liabilities

Warrant Liabilities	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Warrant Liabilities	Warrant Liabilities In connection with Tiga’s initial public offering, Tiga issued: (i) 18,560,000 private placement warrants (“Private Warrants”) to its sponsor, Tiga Sponsor LLC (the “Sponsor”); and (ii) 13,800,000 public warrants. In connection with the reverse recapitalization treatment of the Business Combination, the Company effectively issued 37,360,000 warrants to purchase shares of Grindr’s common stock, which included 13,800,000 public warrants, 18,560,000 Private Warrants, 2,500,000 redeemable warrants (“Forward Purchase Warrants”) issued pursuant to the Second Amended and Restated Forward Purchase Agreement, dated May 9, 2022, by and between Tiga and the Sponsor (“FPA”), and 2,500,000 redeemable warrants issued pursuant to a backstop commitment under the FPA (“Backstop Warrants”). The Forward Purchase Warrants and the Backstop Warrants have the same terms and are in the same form as the public warrants (as such, will collectively be referred to as the “Public Warrants”). The Public Warrants, which entitle the registered holder to purchase one share of the Company’s common stock, have an exercise price of $11.50, became exercisable 30 days after the completion of the Business Combination, and are set to expire five years from the completion of the Business Combination, or earlier upon redemption. Each Private Warrant entitles the registered holder to purchase one share of the Company’s common stock. The Private Warrants also have an exercise price of $11.50 and became exercisable 30 days after the completion of the Business Combination. The Private Warrants are set to expire five years from the completion of the Business Combination, or earlier upon redemption. The Private Warrants are identical to the Public Warrants underlying the shares sold in Tiga’s initial public offering, except that they are subject to certain transfer and sale restrictions and are not optionally redeemable when the Company’s common stock price is above $18.00 so long as they are held by the initial purchasers or their permitted transferees. Additionally, the Private Warrants are exercisable on a cashless basis. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. As of September 30, 2024 and December 31, 2023, the Public Warrants and Private Warrants together were remeasured to fair value of $113,200 and $67,622, respectively. The change in fair value was recognized in the condensed consolidated statements of operations and comprehensive income (loss). For the three and nine months ended September 30, 2024, a fair value gain of $8,219 and loss of $45,579 was recognized, respectively. For the three and nine months ended September 30, 2023, a fair value loss of $3,362 and $11,581 was recognized, respectively.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Stock-based compensation expense is related to the grant of restricted units under the Amended and Restated 2022 Equity Incentive Plan (“2022 Plan”) and the grant of stock options under the 2020 Equity Incentive Plan (“2020 Plan”). In July 2024, the Company stockholders approved the amendment and restatement of the 2022 Plan to increase the number of shares reserved for issuance thereunder by 2,860,300 shares from 13,764,400 shares to 16,624,700 shares. The amended and restated 2022 Plan became effective immediately upon stockholder approval at the Company's 2024 annual meeting of stockholders held on July 19, 2024. 2022 Plan Executive Incentive Awards – Market Condition Awards Certain restricted stock unit (“RSU”) awards granted by the Company are subject to market conditions. These market condition awards are issued upon the achievement (at varying levels) of certain market capitalization thresholds. The Company has an obligation to issue a variable number of shares based on a fixed dollar value divided by the volume weighted-average price per share of the Company’s common stock for a 90-day period preceding each market capitalization achievement date. These awards are liability-classified and require fair value remeasurement at the end of each reporting period. No market condition awards were granted, forfeited, or issued during the three and nine months ended September 30, 2024. The Company used the Monte Carlo simulation model to value the liability-classified awards. The key inputs into the Monte Carlo simulation as of September 30, 2024 and December 31, 2023, were as follows: September 30, December 31, 2023 Expected term (in years) 10.0 10.0 Expected stock price volatility (1) 60.0 % 65.0 % Risk-free interest rate (2) 3.8 % 3.8 % Expected dividend yield (3) — % — % (1) Expected volatility is based on the historical volatility of a publicly traded peer group over a period equivalent to the expected term of the awards. (2) The risk-free interest rate is based on the U.S. Treasury yield of treasury bonds with a maturity that approximates the expected term of the awards. (3) The Company has not historically paid any cash dividends on its common stock. Key Performance Indicator (“KPI”) Awards KPI awards will be issued to certain Company executives upon the satisfaction of certain KPIs as determined annually by the Board. The Company has an obligation to issue a variable number of shares based on a fixed dollar value divided by the volume weighted-average price per share of the Company’s common stock for a 90-day period preceding the issue date. The issue date shall occur no later than 120 days after the end of the applicable year. These awards are liability-classified and require fair value remeasurement at the end of each reporting period. The fair value of the KPI awards is based on the fixed dollar amount that is probable of being paid. During the fourth quarter of 2023, the KPIs and measurement framework related to 2023 KPI awards were approved and granted by the Company’s Compensation Committee as it relates to the year ending December 31, 2023. As of December 31, 2023, such KPIs were achieved. A total of 247,898 shares were issued in the first quarter of 2024 with a total fair value of $2,350. Stock-based compensation expense of $2,062 related to the service provided through issuance date was recorded in the first quarter of 2024 in “Selling, general and administrative expense” on the condensed consolidated statements of operations and comprehensive income (loss). During the first quarter of 2024, the KPIs and measurement framework related to 2024 KPI awards were approved and granted by the Company’s Compensation Committee as it relates to the year ending December 31, 2024. As of September 30, 2024, the liability was measured based on the probable amount of being paid, and $1,923 was accrued and recorded in “Other non-current liabilities” in the condensed consolidated balance sheet. For the three and nine months ended September 30, 2024, stock-based compensation expense of $937 and $1,923, respectively, related to the service provided from the grant date through September 30, 2024 were recorded in “Selling, general and administrative expense” on the condensed consolidated statements of operations and comprehensive income (loss). Except for the KPI award as discussed above, no other KPI awards were granted for the three and nine months ended September 30, 2024. No KPI awards were forfeited during the three and nine months ended September 30, 2024. Time-based Awards Activity A summary of the unvested time-based RSU activity during the nine months ended September 30, 2024, was as follows: Number of Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 5,947,487 $ 8.61 Granted 1,813,644 $ 9.86 Vested (1,254,666) $ 8.37 Forfeited (190,251) $ 7.57 Outstanding at September 30, 2024 6,316,214 $ 9.04 2020 Plan Stock Options The following table summarizes the stock option activity for the nine months ended September 30, 2024: Number of Weighted Outstanding at December 31, 2023 1,768,627 $ 4.71 Exercised (452,614) $ 4.48 Forfeited or expired (144,288) $ 5.43 Outstanding at September 30, 2024 1,171,725 $ 4.71 Stock-based Compensation Information The following table summarizes stock-based compensation expenses for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Selling, general and administrative expenses $ 5,843 $ 3,639 $ 20,183 $ 9,809 Product development expenses $ 1,209 $ 9 2,459 $ 785 $ 7,052 $ 3,648 $ 22,642 $ 10,594

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax	Income Tax In determining the quarterly provisions for income taxes, the Company uses the estimated annual effective tax rate applied to the actual year-to-date income (loss), adjusted for discrete items arising in that quarter. In addition, the effect of changes in enacted tax laws or rates and tax status is recognized in the interim period in which the change occurs. The computation of the estimated annual effective rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (loss) for the year, projections of the proportion of income (loss) earned, tax in foreign jurisdictions, and permanent and temporary differences. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, additional information is obtained, or the Company’s tax environment changes. To the extent that the estimated annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in the income tax provision in the quarter in which the change occurs.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted income (loss) per share: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Numerator: Net income (loss) and comprehensive income (loss) $ 24,681 $ (437) $ (7,149) $ (11,005) Gain on fair value of warrant liabilities (8,219) — — — Net income (loss) and comprehensive income (loss) adjusted for gain on fair value of warrant liabilities $ 16,462 $ (437) $ (7,149) $ (11,005) Denominator: Basic weighted average shares of common stock outstanding 176,034,571 174,113,605 175,610,399 173,871,888 Diluted effect of stock-based awards 2,850,849 — — — Diluted effect of warrants 1,076,408 — — — Diluted weighted average shares of common shares outstanding 179,961,828 174,113,605 175,610,399 173,871,888 Net income (loss) per share Basic $ 0.14 $ — $ (0.04) $ (0.06) Diluted $ 0.09 $ — $ (0.04) $ (0.06) The following table presents the potential shares that are excluded from the computation of diluted net income (loss) per share and comprehensive income (loss) per share for the periods presented because including them would have had an anti-dilutive effect: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Stock options issued under 2020 Plan — 2,177,323 1,171,725 2,177,323 Time-based RSUs — 5,399,847 6,316,214 5,399,847 Public and Private Warrants — 37,360,000 37,359,837 37,360,000

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis: September 30, 2024 Total Level 1 Level 2 Level 3 Assets: Money market funds $ 28,434 $ 28,434 $ — $ — Liabilities: Common stock warrant liabilities $ 113,200 $ 56,963 $ 56,237 $ — December 31, 2023 Total Level 1 Level 2 Level 3 Assets: Money market funds $ 6,495 $ 6,495 $ — $ — U.S. treasury bonds 10,717 10,717 — — $ 17,212 $ 17,212 $ — $ — Liabilities: Common stock warrant liabilities $ 67,622 $ 34,028 $ 33,594 $ — Money market funds and U.S. treasury bonds The money market funds and U.S. treasury bonds are classified within Level 1 as these securities are traded on an active public market. Common Stock Warrant Liabilities The Private Warrants and Public Warrants were accounted for as a liability in accordance with ASC Topic 815, Derivatives and Hedging (see Note 8). The warrant liability was measured at fair value upon assumption and on a recurring basis, with changes in fair value presented in the condensed consolidated statements of operations and comprehensive income (loss). The Company used Level 1 inputs for valuing the Public Warrants and Level 2 inputs for valuing the Private Warrants. The Private Warrants are substantially similar to the Public Warrants, but not directly traded or quoted on an active market. The following table presents the changes in the fair value of the warrant liability: Public Warrants Private Warrants Total Warrant Liability Fair value as of December 31, 2023 $ 34,028 $ 33,594 $ 67,622 Change in fair value of warrant liability 22,936 22,643 45,579 Exercise of warrants (1) — (1) Fair value as of September 30, 2024 $ 56,963 $ 56,237 $ 113,200

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Parties	Related Parties See Note 4 for information regarding related party transactions with Catapult GP II.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company is subject to various legal proceedings and claims, either asserted or unasserted, that arise in the ordinary course of business. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict, and the Company’s view of these matters may change in the future as the litigation and events related thereto unfold. The Company expenses legal fees as incurred. The Company records a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of September 30, 2024, amounts accrued for contingent losses were not material to its financial position. Norway Matter In January 2021, the Norwegian Data Protection Authority (“NDPA”) sent Grindr LLC, a wholly owned subsidiary of the Company, an “Advance notification of an administrative fine” of 100,000 NOK (the equivalent of approximately $9,489 using the exchange rate as of September 30, 2024) for an alleged infringement of the General Data Protection Regulation (“GDPR”). The NDPA alleged that Grindr LLC disclosed (i) personal data to third-party advertisers without a legal basis in violation of Article 6(1) GDPR and (ii) special category personal data to third-party advertisers without a valid exemption from the prohibition in Article 9(1) GDPR. Grindr LLC contested the draft findings and fine. In December 2021, the NDPA issued a reduced administrative fine against Grindr LLC in the amount of 65,000 NOK (the equivalent of approximately $6,168 using the exchange rate as of September 30, 2024) Grindr LLC filed an appeal with the NDPA. On November 24, 2022, Grindr Group and Kunlun Grindr Holdings Limited (“Kunlun”) entered into an escrow agreement providing for Grindr Group's access to $6,500 of funds for the total amount payable, if any, by Grindr LLC following Grindr LLC's appeal of the NDPA's decision to the NDPA and, as applicable to the Norwegian Privacy Appeals Board (the “NPAB”). On December 7, 2022, the NDPA upheld the reduced administrative fine against Grindr LLC and the appeal was sent to the NPAB for further consideration. On September 29, 2023, the NPAB issued its decision to uphold the NDPA's decision and fine of 65,000 NOK. On October 10, 2023, Grindr Group received $5,929 from the escrow account with Kunlun, (the equivalent of approximately 65,000 NOK using the exchange rate as of October 3, 2023). On October 27, 2023, Grindr LLC filed suit in Oslo District Court to overturn the NPAB's decision, including to eliminate the fine. On July 1, 2024, the Oslo District Court upheld the prior decision and ordered Grindr to pay the government attorneys fees of approximately $50. Grindr filed its appeal of the Oslo District Court's decision with Norwegian Appeals Court on September 13, 2024. Israeli Class Action In December 2020, Grindr LLC was named in a statement of claim and petition for certification of a class action in Israel (Israeli Central District Court). The statement of claims generally alleges that Grindr LLC violated users’ privacy by sharing information with third parties without their explicit consent. The petitioner asserts several causes of action under Israeli law, including privacy breaches, unlawful enrichment, and negligence, as well as causes of action under California law, including privacy violations under the California Constitution and California common law, negligence, violation of the Unfair Competition Law, and unjust enrichment. The statement of claims seeks various forms of monetary, declaratory, and injunctive relief, in addition to certification as a class action. On December 22, 2022, Grindr LLC filed its opposition to class certification. Following a case management conference on October 7, 2024, the court directed the plaintiff to file its reply to Grindr's opposition by November 11, 2024. UK Group Action Grindr LLC was notified that a UK law firm, asserting to represent a significant number of Grindr users from a period between 2018 and 2020, is alleging unlawful processing of their personal data and misuse of their private information in an alleged breach of UK data protection laws and UK GDPR. On April 22, 2024, the UK law firm issued proceedings in the English Court, which have not yet been made public or served. At this time, it is too early to determine the likely outcome of this matter.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Except as described below, or as otherwise indicated in the footnotes, the Company has concluded that no events or transactions have occurred that require disclosure. On October 9, 2024, the Compensation Committee of the Board approved long-term equity incentive awards for a certain executive, consisting of 200,000 time-based RSUs, which will vest in its entirety on November 11, 2028, subject to the executive's continued service as of the vesting date, and 200,000 performance-based RSUs subject to market conditions, which will be granted upon the achievement of a specified market capitalization threshold. In October 2024, the Company took possession of office space in Chicago, with a lease commencement date of October 25, 2024 that will have an initial term of approximately 39 months, which the Company has the option to extend for an additional five-year period. The initial base rent is $19 per month ($230 annually) and the base rent will escalate by 2.5% per annum. There is rent abatement during the second and third year of the lease such that the Company will pay no rent during this period. In October 2024, the Company granted restricted stock units to certain executives upon the achievement of a targeted market capitalization threshold. As a result, the Company granted 314,101 fully vested RSUs and recognized $2,344 in stock-based compensation.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net loss and comprehensive loss	$ 24,681	$ (22,424)	$ (9,406)	$ (437)	$ 22,331	$ (32,899)	$ (7,149)	$ (11,005)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the Company’s last fiscal quarter, certain of the Company’s directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of the Company’s securities as set forth in the table below: Type of Trading Arrangement Name and Position Action Adoption/Termination Date Rule 10b5-1 (1) Non-Rule 10b5-1 (2) Total Shares of Common Stock to be Sold (3) Expiration Date Austin “AJ” Balance, Chief Product Officer Adoption 09/17/2024 X 529,242 (4) 12/31/2025 Vandana Mehta-Krantz, Chief Financial Officer Adoption 08/13/2024 X 100,000 11/12/2025 Zachary Katz, General Counsel & Head of Global Affairs Adoption 08/12/2024 X 30,578 9/30/2025 (1) Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. (2) “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act. (3) Represents the maximum number of shares that may be sold pursuant to the Rule 10b5-1 arrangement. The actual number of shares sold will be dependent on the satisfaction of certain conditions as set forth in the written plan. (4) Includes 108,361 shares of common stock subject to restricted stock units (“RSUs”) previously granted to Mr. Balance that may vest and be released on or prior to December 31, 2025. The actual number of shares that will be released to Mr. Balance in respect of such RSUs and sold pursuant to the Rule 10b5-1 trading arrangement will be net of the number of shares withheld by the Company to cover tax withholding obligations arising from the vesting of such RSUs and is not yet determinable.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Austin “AJ” Balance [Member]
Trading Arrangements, by Individual
Name	Austin “AJ” Balance
Title	Chief Product Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	09/17/2024
Expiration Date	12/31/2025
Arrangement Duration	470 days
Vandana Mehta-Krantz [Member]
Trading Arrangements, by Individual
Name	Vandana Mehta-Krantz
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	08/13/2024
Expiration Date	11/12/2025
Arrangement Duration	456 days
Aggregate Available	100,000	100,000
Zachary Katz [Member]
Trading Arrangements, by Individual
Name	Zachary Katz
Title	General Counsel & Head of Global Affairs
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	08/12/2024
Expiration Date	9/30/2025
Arrangement Duration	414 days
Aggregate Available	30,578	30,578
Austin “AJ” Balance Trading Arrangement, Common Stock [Member] | Austin “AJ” Balance [Member]
Trading Arrangements, by Individual
Aggregate Available	529,242	529,242
Austin “AJ” Balance Trading Arrangement, Restricted Stock Units (RSUs) [Member] | Austin “AJ” Balance [Member]
Trading Arrangements, by Individual
Aggregate Available	108,361	108,361

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Consolidation The Business Combination was accounted for as a reverse recapitalization under the accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under this method of accounting, Tiga was treated as the acquired company for financial reporting purposes. This determination was primarily based on (i) the Legacy Grindr unitholders having a relative majority of the voting power of Grindr, (ii) Legacy Grindr unitholders having the ability to nominate the majority of the members of the board of directors of the Company (the “Board”), and (iii) Legacy Grindr senior management comprising the senior management roles of Grindr and being responsible for the Company’s day-to-day operations and strategy. Accordingly, for accounting purposes, the financial statements of Grindr represent a continuation of the financial statements of Legacy Grindr with the Business Combination being treated as the equivalent of Legacy Grindr issuing shares for the net assets of Tiga, accompanied by a recapitalization. The net assets of Tiga were recognized as of the Closing at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are presented as those of Legacy Grindr and the accumulated deficit of Legacy Grindr has been carried forward after Closing. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the condensed consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2023. The unaudited condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries after elimination of intercompany transactions and balances. The operating results for the three and nine months ended September 30, 2024, are not necessarily indicative of the results expected for the full year ending December 31, 2024.
Consolidation	Basis of Presentation and Consolidation The Business Combination was accounted for as a reverse recapitalization under the accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under this method of accounting, Tiga was treated as the acquired company for financial reporting purposes. This determination was primarily based on (i) the Legacy Grindr unitholders having a relative majority of the voting power of Grindr, (ii) Legacy Grindr unitholders having the ability to nominate the majority of the members of the board of directors of the Company (the “Board”), and (iii) Legacy Grindr senior management comprising the senior management roles of Grindr and being responsible for the Company’s day-to-day operations and strategy. Accordingly, for accounting purposes, the financial statements of Grindr represent a continuation of the financial statements of Legacy Grindr with the Business Combination being treated as the equivalent of Legacy Grindr issuing shares for the net assets of Tiga, accompanied by a recapitalization. The net assets of Tiga were recognized as of the Closing at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are presented as those of Legacy Grindr and the accumulated deficit of Legacy Grindr has been carried forward after Closing. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the condensed consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2023. The unaudited condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the condensed consolidated financial statements. The condensed consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries after elimination of intercompany transactions and balances. The operating results for the three and nine months ended September 30, 2024, are not necessarily indicative of the results expected for the full year ending December 31, 2024.
Accounting Estimates	Accounting Estimates Management of the Company is required to make certain estimates, judgments, and assumptions during the preparation of its condensed consolidated financial statements in accordance with U.S. GAAP. These estimates, judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses, and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates and judgments including those related to: the useful lives and recoverability of property and equipment and definite-lived intangible assets; the recoverability of goodwill and indefinite-lived intangible assets; the carrying value of accounts receivable, including the determination of the allowance for credit losses; the fair value of
Segment Information	Segment Information The Company operates as one segment. The Company’s operating segments are identified according to how the performance of its business is managed and evaluated by its chief operating decision maker (“CODM”), the Company’s Chief Executive Officer (“CEO”). Substantially all of the Company’s long-lived assets are attributed to operations in the U.S.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable: Level 1 - Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets. Level 2 - Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active, and inputs that are derived principally from or corroborated by observable market data. Level 3 - Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities. Recurring Fair Value Measurements The following methods and assumptions were used to estimate the fair value of each class of financial assets and liabilities for which it is practicable to estimate fair value: • Money market funds and U.S. treasury bonds — The carrying amount of money market funds and U.S. treasury bonds approximates fair value and is classified within Level 1 as these securities are traded on an active public market. • Warrant liability — Public Warrants (as defined in Note 8) are classified within Level 1 as these securities are traded on an active public market. Private Warrants (as defined in Note 8) are classified within Level 2. For the periods presented, the Company utilized the value of the Public Warrants as an approximation of the value of the Private Warrants as they are substantially similar to the Public Warrants, but not directly traded or quoted on an active market. The Company’s remaining financial instruments that are measured at fair value on a recurring basis consist primarily of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, and other current liabilities. The Company believes their carrying values are representative of their fair values due to their short-term maturities. The fair values of the Company’s credit agreement balances as disclosed in Note 6 are measured based on prices quoted from a third-party financial institution. Nonrecurring Fair Value Measurements Assets acquired and liabilities assumed in business combinations are initially measured at fair value on the acquisition date on a nonrecurring basis using Level 3 inputs. The Company is required to measure certain assets at fair value on a nonrecurring basis after initial recognition. These include goodwill, intangible assets, and long-lived assets, which are measured at fair value on a nonrecurring basis as a result of impairment reviews. Impairment is assessed annually in the fourth quarter or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit or assets below the carrying value. The fair value of the reporting unit or asset group is determined primarily using cost and market approaches (Level 3).
Revenue Recognition	Revenue Recognition Revenue is recognized when or as a customer obtains control of promised services. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to in exchange for these services. The Company derives substantially all of its revenue from direct revenue and indirect revenue, each as described below. As permitted under the practical expedient available under Accounting Standards Update (“ASU”) 2014-09, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which the Company recognizes revenue for the amount at which the Company has the right to invoice for services performed. Direct Revenue Direct revenue consists of subscription revenue. Subscription revenue is generated through the sale of subscriptions that are currently offered or renewed in one-week, one-month, three-month, six-month, and twelve-month lengths. Subscription revenue is initially deferred and is recognized using the straight-line method over the term of the applicable subscription period. Direct revenue also consists of premium add-on revenue generated through the sale of an add-on feature on a pay-per-use, or a-la-carte, basis. Premium features are activated upon purchase and are available for a short duration, generally, within one day. Revenue from premium add-ons is recognized upon purchase of the premium add-on. Direct revenue is recorded net of taxes, credits, and chargebacks. Customers pay in advance, primarily through mobile app stores. Subject to certain conditions identified in the Company’s terms and conditions, generally all purchases are final and nonrefundable. Indirect Revenue Indirect revenue consists of advertising revenue and other non-direct revenue. The Company has contractual relationships with advertising service providers and also directly with advertisers to display advertisements on the Grindr platform. For all advertising arrangements, the Company’s performance obligation is to provide the inventory for advertisements to be displayed on the Grindr platform. For contracts made directly with advertisers, the Company is also obligated to serve the advertisements on the Grindr platform. Providing the advertising inventory and serving the advertisement is considered a single performance obligation, as the advertiser cannot benefit from the advertising space without its advertisements being displayed. The pricing and terms for all advertising arrangements are governed by either a master contract or insertion order. The transaction price in advertising arrangements is generally the product of the number of advertising units delivered (e.g., impressions, offers completed, videos viewed, etc.) and the contractually agreed upon price per advertising unit. Further, for advertising transactions with advertising service providers, the contractually agreed upon price per advertising unit is generally based on the Company’s revenue share or fixed revenue rate as stated in the contract. The number of advertising units delivered is determined at the end of each month, which resolves any uncertainty in the transaction price during the reporting period. Revenue from advertising transactions with advertising service providers is recognized net of the amounts retained by the advertising service provider as the Company does not know and expects not to know the gross amount paid by advertisers. Contract Liabilities
Accounts Receivable, net of allowance for credit losses	Accounts Receivable, net of allowance for credit losses Grindr users generally access the Company app and pay for subscriptions and premium add-on features through Apple or Google Play. The Company evaluates the credit worthiness of these mobile app stores on an ongoing basis and does not require collateral from these entities. Accounts receivable also include amounts billed and currently due from advertising customers. The Company maintains an allowance for credit losses to provide for the estimated amount of accounts receivable that will not be collected. The allowance for credit losses is based upon historical collection trends adjusted for economic conditions using reasonable and supportable forecasts.
Accounting Pronouncements	Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) allows the Company to delay adoption of new or revised pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies. Accounting Pronouncements Not Yet Adopted In June 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which applies to all equity securities measured at fair value that are subject to contractual sale restrictions. This change prohibits entities from taking into account contractual restrictions on the sale of equity securities when estimating fair value and introduces required disclosures for such transactions. The standard will become effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company will assess any impact from the adoption of this guidance if such transactions occur in the future. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public business entities that disclose information on their reportable segments to provide additional information on their significant expense categories and “other segment items,” which represent the difference between segment revenue less significant segment expense and a segment’s measure of profit or loss. A description of “other segment items” is also required. Further, certain segment related disclosures that were limited to annual disclosure are now required at interim periods. Finally, public business entities are required to disclose the title and position of their CODM and explain how the CODM uses the reported measures of profit or loss to assess segment performance. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and could result in additional disclosure for the Company. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740), which requires more detailed income tax disclosures. The guidance requires entities to disclose disaggregated information about their effective tax rate reconciliation as well as expanded information on income taxes paid by jurisdiction. The disclosure requirements will be applied on a prospective basis, with the option to apply them retrospectively. The standard is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the disclosure requirements related to the new standard.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Disaggregation of Revenue	The following tables summarize revenue from contracts with customers for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Direct revenue $ 76,907 $ 61,575 $ 211,203 $ 162,886 Indirect revenue 12,418 8,683 35,812 24,719 $ 89,325 $ 70,258 $ 247,015 $ 187,605 Three Months Ended Nine Months Ended 2024 2023 2024 2023 North America (1) $ 53,339 $ 42,570 $ 148,948 $ 115,272 Europe 22,763 17,407 60,575 44,554 Rest of the world 13,223 10,281 37,492 27,779 $ 89,325 $ 70,258 $ 247,015 $ 187,605 (1) North America includes revenue generated only from the U.S. and Canada.

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consist of the following: September 30, December 31, Cloud computing arrangements implementation costs $ 113 $ 172 Income tax receivable — 1,537 Other current assets 492 704 $ 605 $ 2,413

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: September 30, December 31, Employee compensation and benefits $ 8,516 $ 7,285 Litigation-related funds received from escrow (see Note 14) 5,929 5,929 Income and other taxes payable 4,544 1,389 Lease liability, short-term 2,219 1,405 Accrued professional service fees 1,973 3,252 Accrued infrastructure expense 1,162 900 Accrued legal expense 915 1,608 Accrued interest payable 98 174 Other accrued expenses 1,015 992 $ 26,371 $ 22,934

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Total debt for the Company is comprised of the following: September 30, December 31, Senior Term Loan Facility $ 285,750 $ 300,000 Senior Revolving Facility 11,600 44,400 297,350 344,400 Less: unamortized debt issuance and discount costs (3,214) (3,800) Total debt 294,136 340,600 Less: current maturities of long-term debt (15,000) (15,000) Long-term debt $ 279,136 $ 325,600

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease Cost	Components of lease cost included in “Selling, general and administrative expenses” on the condensed consolidated statements of operations and comprehensive income (loss) are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease cost $ 579 $ 413 $ 1,515 $ 1,239 Short-term lease cost 244 — 891 — Sublease income (169) (189) (662) (566) Total lease cost $ 654 $ 224 $ 1,744 $ 673 Supplemental cash flow information related to the leases is as follows: Nine Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities $ 1,485 $ 1,267 Right-of-use assets obtained in exchange for lease liabilities: New lease entered into during the year $ 797 $ —
Schedule of Assets And Liabilities, Lessee	Supplemental balance sheet information related to the leases as of September 30, 2024 and December 31, 2023, is as follows: September 30, December 31, Assets: Right-of-use assets $ 2,922 $ 3,362 Liabilities: Accrued expenses and other current liabilities 2,219 1,405 Lease liability, long-term portion 1,030 2,241 Total operating lease liabilities $ 3,249 $ 3,646 Weighted average remaining operating lease term (years) 1.4 2.3 Weighted average operating lease discount rate 5.12% 11.41%
Schedule of Future Minimum Lease Commitments	Future maturities of lease liabilities as of September 30, 2024, are as follows: Remainder of 2024 $ 636 2025 2,254 2026 605 Thereafter — Total lease payments $ 3,495 Less: imputed interest (246) Total lease liabilities $ 3,249
Schedule of Future Non-Cancelable Rent Payments	Future non-cancelable rent payments from the Company's sublease tenant as of September 30, 2024, were as follows: Remainder of 2024 $ 180 2025 729 2026 249 Thereafter — $ 1,158

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Valuation Assumptions	The Company used the Monte Carlo simulation model to value the liability-classified awards. The key inputs into the Monte Carlo simulation as of September 30, 2024 and December 31, 2023, were as follows: September 30, December 31, 2023 Expected term (in years) 10.0 10.0 Expected stock price volatility (1) 60.0 % 65.0 % Risk-free interest rate (2) 3.8 % 3.8 % Expected dividend yield (3) — % — % (1) Expected volatility is based on the historical volatility of a publicly traded peer group over a period equivalent to the expected term of the awards. (2) The risk-free interest rate is based on the U.S. Treasury yield of treasury bonds with a maturity that approximates the expected term of the awards. (3) The Company has not historically paid any cash dividends on its common stock.
Summary of Restricted Stock Unit Activity	A summary of the unvested time-based RSU activity during the nine months ended September 30, 2024, was as follows: Number of Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 5,947,487 $ 8.61 Granted 1,813,644 $ 9.86 Vested (1,254,666) $ 8.37 Forfeited (190,251) $ 7.57 Outstanding at September 30, 2024 6,316,214 $ 9.04
Summary of Stock Option Activity	The following table summarizes the stock option activity for the nine months ended September 30, 2024: Number of Weighted Outstanding at December 31, 2023 1,768,627 $ 4.71 Exercised (452,614) $ 4.48 Forfeited or expired (144,288) $ 5.43 Outstanding at September 30, 2024 1,171,725 $ 4.71
Summary of the Components of Total Stock-Based Compensation Expense	The following table summarizes stock-based compensation expenses for the three and nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Selling, general and administrative expenses $ 5,843 $ 3,639 $ 20,183 $ 9,809 Product development expenses $ 1,209 $ 9 2,459 $ 785 $ 7,052 $ 3,648 $ 22,642 $ 10,594

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computations of Basic and Diluted Net Income (Loss) Per Share	The following table sets forth the computation of basic and diluted income (loss) per share: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Numerator: Net income (loss) and comprehensive income (loss) $ 24,681 $ (437) $ (7,149) $ (11,005) Gain on fair value of warrant liabilities (8,219) — — — Net income (loss) and comprehensive income (loss) adjusted for gain on fair value of warrant liabilities $ 16,462 $ (437) $ (7,149) $ (11,005) Denominator: Basic weighted average shares of common stock outstanding 176,034,571 174,113,605 175,610,399 173,871,888 Diluted effect of stock-based awards 2,850,849 — — — Diluted effect of warrants 1,076,408 — — — Diluted weighted average shares of common shares outstanding 179,961,828 174,113,605 175,610,399 173,871,888 Net income (loss) per share Basic $ 0.14 $ — $ (0.04) $ (0.06) Diluted $ 0.09 $ — $ (0.04) $ (0.06)
Schedule of Shares Excluded from Computation of Diluted Net Income (Loss) and Comprehensive Income (Loss) per Common Share	The following table presents the potential shares that are excluded from the computation of diluted net income (loss) per share and comprehensive income (loss) per share for the periods presented because including them would have had an anti-dilutive effect: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Stock options issued under 2020 Plan — 2,177,323 1,171,725 2,177,323 Time-based RSUs — 5,399,847 6,316,214 5,399,847 Public and Private Warrants — 37,360,000 37,359,837 37,360,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis: September 30, 2024 Total Level 1 Level 2 Level 3 Assets: Money market funds $ 28,434 $ 28,434 $ — $ — Liabilities: Common stock warrant liabilities $ 113,200 $ 56,963 $ 56,237 $ — December 31, 2023 Total Level 1 Level 2 Level 3 Assets: Money market funds $ 6,495 $ 6,495 $ — $ — U.S. treasury bonds 10,717 10,717 — — $ 17,212 $ 17,212 $ — $ — Liabilities: Common stock warrant liabilities $ 67,622 $ 34,028 $ 33,594 $ —
Schedule of Warrant Liabilities at Fair Value	The following table presents the changes in the fair value of the warrant liability: Public Warrants Private Warrants Total Warrant Liability Fair value as of December 31, 2023 $ 34,028 $ 33,594 $ 67,622 Change in fair value of warrant liability 22,936 22,643 45,579 Exercise of warrants (1) — (1) Fair value as of September 30, 2024 $ 56,963 $ 56,237 $ 113,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jan. 01, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of segments | segment			1
Accounts receivable, net of allowances	$ 43,984		$ 43,984		$ 33,906	$ 22,435
Deferred revenue	19,895		19,895		$ 19,181	$ 18,586
Deferred revenue recognized	1,991	$ 1,239	18,610	$ 18,116
Revenue	89,325	70,258	247,015	187,605
UNITED STATES
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenue	$ 50,830	$ 40,450	$ 142,082	$ 109,823
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Performance obligation, subscription period			12 months
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Performance obligation, subscription period			7 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 89,325	$ 70,258	$ 247,015	$ 187,605
North America
Disaggregation of Revenue [Line Items]
Revenue	53,339	42,570	148,948	115,272
Europe
Disaggregation of Revenue [Line Items]
Revenue	22,763	17,407	60,575	44,554
Rest of the world
Disaggregation of Revenue [Line Items]
Revenue	13,223	10,281	37,492	27,779
Direct revenue
Disaggregation of Revenue [Line Items]
Revenue	76,907	61,575	211,203	162,886
Indirect revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 12,418	$ 8,683	$ 35,812	$ 24,719

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cloud computing arrangements implementation costs	$ 113	$ 172
Income tax receivable	0	1,537
Other current assets	492	704
Total other current assets	$ 605	$ 2,413

Promissory Note from a Member (

Promissory Note from a Member (Details) $ in Thousands	Apr. 27, 2021 USD ($) shares
Note
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term loan | $	$ 30,000
Repayment period of promissory note	10 years
Interest rate on promissory note	10%
Catapult GP II
Accounts, Notes, Loans and Financing Receivable [Line Items]
Issuance of units (in shares)	7,385,233
Catapult GP II | Legacy Grindr
Accounts, Notes, Loans and Financing Receivable [Line Items]
Issuance of units (in shares)	5,387,194

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 8,516	$ 7,285
Litigation-related funds received from escrow	5,929	5,929
Income and other taxes payable	4,544	1,389
Lease liability, short-term	2,219	1,405
Accrued professional service fees	1,973	3,252
Accrued infrastructure expense	1,162	900
Accrued legal expense	915	1,608
Accrued interest payable	98	174
Other accrued expenses	1,015	992
Total accrued expenses and other current liabilities	$ 26,371	$ 22,934

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 297,350	$ 344,400
Less: unamortized debt issuance and discount costs	(3,214)	(3,800)
Total debt	294,136	340,600
Less: current maturities of long-term debt	(15,000)	(15,000)
Long-term debt	279,136	325,600
Line of Credit | Senior Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	285,750	300,000
Line of Credit | Senior Revolving Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 11,600	$ 44,400

Debt - Narrative (Details)

Debt - Narrative (Details) - 2023 Credit Agreement - Line of Credit - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Nov. 28, 2023	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Incurred debt issuance cost		$ 0	$ 0
Fair value		295,863,000	295,863,000	$ 342,678,000
Period One
Debt Instrument [Line Items]
Leverage ratio	4
Period Two
Debt Instrument [Line Items]
Leverage ratio	3.50
Period Three
Debt Instrument [Line Items]
Leverage ratio	3
Period Four
Debt Instrument [Line Items]
Leverage ratio	1.15
Fed Funds Rate
Debt Instrument [Line Items]
Variable rate	0.50%
Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Variable rate	1%
Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Variable rate	2.75%
Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Variable rate	3.25%
Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate	1.75%
Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate	2.25%
Senior Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000
Unused commitments		$ 38,400,000	38,400,000
Interest rate	1.25%
Senior Revolving Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000
Borrowings under credit facility	$ 44,400,000
Senior Revolving Facility | Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.375%
Senior Revolving Facility | Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.50%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15,000,000
Debt outstanding			0	0
Swingline Loans
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000
Debt outstanding			$ 0	$ 0
Effective interest rate		7.50%	7.50%	8.50%

Leases - Narrative (Details)

Leases - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 lease
Leases [Abstract]
Lessee, number of leases	2
Sublessor, number of leases	1

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost	$ 579	$ 413	$ 1,515	$ 1,239
Short-term lease cost	244	0	891	0
Sublease income	(169)	(189)	(662)	(566)
Total lease cost	$ 654	$ 224	$ 1,744	$ 673

Leases - Schedule of Supplement

Leases - Schedule of Supplement Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 1,485	$ 1,267
Right-of-use assets obtained in exchange for lease liabilities:	$ 797	$ 0

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplement Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Right-of-use assets	$ 2,922	$ 3,362
Liabilities:
Lease liability, short-term	$ 2,219	$ 1,405
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Lease liability, long-term portion	$ 1,030	$ 2,241
Total operating lease liabilities	$ 3,249	$ 3,646
Weighted average remaining operating lease term (years)	1 year 4 months 24 days	2 years 3 months 18 days
Weighted average operating lease discount rate	5.12%	11.41%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 636
2025	2,254
2026	605
Thereafter	0
Total lease payments	3,495
Less: imputed interest	(246)
Total lease liabilities	$ 3,249	$ 3,646

Leases - Schedule of Future Non

Leases - Schedule of Future Non-Cancelable Rent Payments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 180
2025	729
2026	249
Thereafter	0
Payments to be received	$ 1,158

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 18, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Nov. 24, 2020
Class of Warrant or Right [Line Items]
Warrants (in shares)	37,360,000
Stock trigger price (in dollars per share)	$ 18
Fair value of warrants		$ 113,200		$ 113,200		$ 67,622
Gain (loss) in fair value of warrant liability		8,219	$ (3,362)	(45,579)	$ (11,581)
Private Warrants
Class of Warrant or Right [Line Items]
Warrants (in shares)	18,560,000
Number of securities called by each warrant (in shares)	1
Warrant exercise price (in USD per share)	$ 11.50
Warrants, exercisable period	30 days
Warrants, term	5 years
Fair value of warrants		56,237		56,237		33,594
Gain (loss) in fair value of warrant liability				(22,643)
Private Warrants | Tiga | Sponsor
Class of Warrant or Right [Line Items]
Warrants (in shares)							18,560,000
Public Warrants
Class of Warrant or Right [Line Items]
Warrants (in shares)	13,800,000
Number of securities called by each warrant (in shares)	1
Warrant exercise price (in USD per share)	$ 11.50
Warrants, exercisable period	30 days
Warrants, term	5 years
Fair value of warrants		$ 56,963		56,963		$ 34,028
Gain (loss) in fair value of warrant liability				$ (22,936)
Public Warrants | Tiga
Class of Warrant or Right [Line Items]
Warrants (in shares)							13,800,000
Forward Purchase Warrant
Class of Warrant or Right [Line Items]
Warrants (in shares)	2,500,000
Backstop Warrants
Class of Warrant or Right [Line Items]
Warrants (in shares)	2,500,000

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Jul. 31, 2024	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation expense		$ 7,052		$ 3,648	$ 22,642	$ 10,594
Accrued stock-based compensation expense		1,923			1,923
Capitalized compensation expense		91		51	179	189
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation expense		$ 5,843		$ 3,639	$ 20,183	$ 9,809
Restricted Stock Units, Market Condition Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volume weighted-average price per share period					90 days
KPI awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volume weighted-average price per share period					90 days
Issuance period					120 days
Shares issued (in shares)			247,898
Fair value of shares issued			$ 2,350
Unit-based compensation expense			$ 2,062
Awards granted (in shares)		0			0
Awards forfeited (in shares)		0			0
KPI awards | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation expense		$ 937			$ 1,923
2022 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares reserved for issuance (in shares)	2,860,300
Shares reserved for future issuance (in shares)	16,624,700						13,764,400

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Valuation Assumptions (Details) - Restricted Stock Units, Market Condition Awards	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	10 years	10 years
Expected stock price volatility	60%	65%
Risk-free interest rate	3.80%	3.80%
Expected dividend yield	0%	0%

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Restricted Stock Units (Details) - Time-based RSUs	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	5,947,487
Granted (in shares) | shares	1,813,644
Vested (in shares) | shares	(1,254,666)
Forfeited (in shares) | shares	(190,251)
Ending balance (in shares) | shares	6,316,214
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) | $ / shares	$ 8.61
Granted (in USD per share) | $ / shares	9.86
Vested (in USD per share) | $ / shares	8.37
Forfeited (in usd per share) | $ / shares	7.57
Ending balance (in USD per share) | $ / shares	$ 9.04

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Options
Outstanding, beginning balance (in shares) | shares	1,768,627
Exercised (in shares) | shares	(452,614)
Forfeited or expired (in shares) | shares	(144,288)
Outstanding, ending balance (in shares) | shares	1,171,725
Weighted Average Exercise Price
Outstanding, beginning balance (in USD per share) | $ / shares	$ 4.71
Exercised (in USD per share) | $ / shares	4.48
Forfeited or expired (in USD per share) | $ / shares	5.43
Outstanding, ending balance (in USD per share) | $ / shares	$ 4.71

Stock-based Compensation - Sc_4

Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total unit-based compensation expense	$ 7,052	$ 3,648	$ 22,642	$ 10,594
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total unit-based compensation expense	5,843	3,639	20,183	9,809
Product development expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total unit-based compensation expense	$ 1,209	$ 9	$ 2,459	$ 785

Income Tax (Details)

Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 5,593	$ 1,272	$ 13,238	$ 2,724

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Computations of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) and comprehensive income (loss)	$ 24,681	$ (22,424)	$ (9,406)	$ (437)	$ 22,331	$ (32,899)	$ (7,149)	$ (11,005)
Gain on fair value of warrant liabilities	(8,219)			0			0	0
Net income (loss) and comprehensive income (loss) adjusted for gain on fair value of warrant liabilities	$ 16,462			$ (437)			$ (7,149)	$ (11,005)
Denominator:
Basic weighted average shares of common stock outstanding (in shares)	176,034,571			174,113,605			175,610,399	173,871,888
Diluted effect of stock-based awards (in shares)	2,850,849			0			0	0
Diluted effect of warrants (in shares)	1,076,408			0			0	0
Diluted weighted average shares of common shares outstanding (in shares)	179,961,828			174,113,605			175,610,399	173,871,888
Net income (loss) per share
Basic (in USD per share)	$ 0.14			$ 0			$ (0.04)	$ (0.06)
Diluted (in USD per share)	$ 0.09			$ 0			$ (0.04)	$ (0.06)

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Shares Excluded from Computation of Diluted Net Income (Loss) and Comprehensive Income (Loss) per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock options issued under 2020 Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	2,177,323	1,171,725	2,177,323
Time-based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	5,399,847	6,316,214	5,399,847
Public and Private Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	37,360,000	37,359,837	37,360,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Assets measured at fair value		$ 17,212
Liabilities:
Common stock warrant liabilities	$ 113,200	67,622
Money market funds
Assets:
Cash and cash equivalents	28,434	6,495
U.S. treasury bonds
Assets:
Cash and cash equivalents		10,717
Level 1
Assets:
Assets measured at fair value		17,212
Liabilities:
Common stock warrant liabilities	56,963	34,028
Level 1 | Money market funds
Assets:
Cash and cash equivalents	28,434	6,495
Level 1 | U.S. treasury bonds
Assets:
Cash and cash equivalents		10,717
Level 2
Assets:
Assets measured at fair value		0
Liabilities:
Common stock warrant liabilities	56,237	33,594
Level 2 | Money market funds
Assets:
Cash and cash equivalents	0	0
Level 2 | U.S. treasury bonds
Assets:
Cash and cash equivalents		0
Level 3
Assets:
Assets measured at fair value		0
Liabilities:
Common stock warrant liabilities	0	0
Level 3 | Money market funds
Assets:
Cash and cash equivalents	$ 0	0
Level 3 | U.S. treasury bonds
Assets:
Cash and cash equivalents		$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Warrant Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Warrant Liability [Roll Forward]
Fair value as of December 31, 2023			$ 67,622
Change in fair value of warrant liability	$ (8,219)	$ 3,362	45,579	$ 11,581
Exercise of warrants			(1)	$ 0
Fair value as of September 30, 2024	113,200		113,200
Public Warrants
Fair Value, Warrant Liability [Roll Forward]
Fair value as of December 31, 2023			34,028
Change in fair value of warrant liability			22,936
Exercise of warrants			(1)
Fair value as of September 30, 2024	56,963		56,963
Private Warrants
Fair Value, Warrant Liability [Roll Forward]
Fair value as of December 31, 2023			33,594
Change in fair value of warrant liability			22,643
Exercise of warrants			0
Fair value as of September 30, 2024	$ 56,237		$ 56,237

Commitments and Contingencies (

Commitments and Contingencies (Details) kr in Thousands, $ in Thousands					1 Months Ended
	Jul. 01, 2024 USD ($)	Oct. 10, 2023 NOK (kr)	Oct. 10, 2023 USD ($)	Sep. 29, 2023 NOK (kr)	Dec. 31, 2021 NOK (kr)	Dec. 31, 2021 USD ($)	Jan. 31, 2021 NOK (kr)	Jan. 31, 2021 USD ($)	Nov. 24, 2022 USD ($)
Other Commitments [Line Items]
Escrow									$ 6,500
Kunlun
Other Commitments [Line Items]
Litigation amount received from escrow		kr 65,000	$ 5,929
Governmental attorneys fees	$ 50
NDPA
Other Commitments [Line Items]
Amount of administrative fine imposed							kr 100,000	$ 9,489
Reduced to administrative fine imposed				kr 65,000	kr 65,000	$ 6,168

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Oct. 25, 2024	Oct. 09, 2024
Subsequent Event [Line Items]
Stock based compensation recognized		$ 7,052	$ 3,648	$ 22,642	$ 10,594
Time-based RSUs
Subsequent Event [Line Items]
Granted (in shares)				1,813,644
Subsequent Event | Chicago Office Space Lease
Subsequent Event [Line Items]
Initial lease term						39 months
Optional lease extension period						5 years
Initial base rent per month						$ 19
Initial annual base rent						$ 230
Annual percentage increase in base rent						2.50%
Subsequent Event | Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Granted (in shares)	314,101
Stock based compensation recognized	$ 2,344
Subsequent Event | Time-based RSUs
Subsequent Event [Line Items]
Number of long-term equity incentive awards awards approved for issuance (in shares)							200,000
Subsequent Event | Performance-Based RSUs
Subsequent Event [Line Items]
Number of long-term equity incentive awards awards approved for issuance (in shares)							200,000