BMBL - Earnings call transcript Q3 2021

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Operator

Good day and thank you for standing by. Welcome to Bumble Third Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. I would now like to hand the conference over to your speaker today, [indiscernible], VP of Investor Relations. ahead. go Please

Unidentified Company Representative

CFO joining Financial for Herd, discuss Third Anu Bumble's and Thank With us me XXXX Subramanian, and President; results. Tariq Wolfe Bumble. today Quarter CEO; you Shaukat, to of are Founder Whitney

and our everyone our to Before may currently certain uncertainties various information today are risks be to forward-looking beliefs, These reflect call statements forward-looking this and that statements. us. we current on statements to like on begin, that I'd assumptions, expectations remind based made are available and subject

in Although we the factors XX-K XXXX filings more no detail after statements changes from believe that materially December these year periodic differ reasonable, these we actual occur other in and expectations to filings. SEC, on Form our obligation undertake discussed with are cause annual for report the this that our of to could any to subsequent XXst, ended Descriptions these risks call. revise forward-looking results and are including our statements reflect

measures which at Investor GAAP in comparable most to I over on During and we should addition results. Whitney. from, to With press These Relations GAAP release, will available the in measures. that, be earnings is section today's ir.bumble.com. for substitute are considered certain website non-GAAP to, the to the our available non-GAAP also as the or in measures a Reconciliations for isolation turn call, not financial refer it

Whitney Wolfe Herd

all for everyone thank the you hope well. is us afternoon Good and I to healthy and taking time join staying today.

in opportunity September XX the for Thanksgiving time for closer I'm draw in we to our especially in months. the office the to over first we had As London in late US, be together here grateful weekend

me It with me us several that productive as tenured meetings, year-and-a-half. very meeting many reminded wanted us shared finally well today. with me we is what the someone up I with has a was career members of reminded wonderful person life whom a hug that in week more in It that for newbies lives have cannot here than and of to share promotion. about laugh pandemic able a joined or our of our as to do. spend to addition is team, catch being quote last highlight with. We the In that talented a The we

connections Bumble remain for made do our ways are mission and this users brands, App that, compelling and We where love We is creating Badoo via billion and two is our app, global providing global TAM, the online easy, XXXX, dating relationships At This had market committed equitable, a secular of of of we early seek. in community. relatively with growth, in still the are of healthy innings Inc., with players Bumble they growing rapidly friendship, our robust all and in two world and a in find to market. which excluding tailwinds. China, are leading X.X the to a

multiple a and game, As spend users proposition with still wallet technology given choice, online sum through users time. dating zero have apps overall believe a there others convenience runway seen today per of increasingly is any a share have with Apps not user growth people TAM to from pair with comfortable revenue adoption, at even the is dating expansion broader value we online interact user. more offers and become conversion small most dating standpoint, on and that for cost and leveraging ample as

we about. growth, unique opportunity combined with secular differentiated excited are of value adds So our tail strengths this proposition, and ahead core tremendous up that to of long a us really

$XXX Bumble from these of million, Inc. results which a to reflected XX% EBITDA last accelerated average total market million, this revenue margin adjusted XX%. up of basis. quarter. position our strong year-over-year revenue $XX while representing We in on payers and global a across and grew level, At Difficulty PPU, of X:XX:XX] leadership adjusted or year X.X footprint by our each our was broad EBITDA million, group Our per apps an delivered [Technical is of total paying user,

unpack segments, outpace brand for is in generational Revenue the year-over-year. viewed A XX% on modern, again as is for up truly we that download me across million, and with third-party to app the three have have testament on increased at in According Z. Bumble maintain Gen a and the all community In iOS us two app Bumble of by app app Consumer our X, our and of most year-over-year, than lifestyle is up tells year-over-year on for to major growing research beginning peers different rapidly and a trust XX% X.X UK Australia. to and believe our and results faster particular, quarter-over-quarter to a grossing I more strength QX. proud number position men of generated core platform. on a gained Canada, on worldwide. women In force share reflected detailed Bumble the app. PPU affinity, than and Let growth women of our sources, Bumble's good. updates, for results brand. am of in of basis Bumble of and representing brand app as empowering activity revenue brand US, which $XXX continued average. rate This engagement basis. excellent users quarter, company leadership paying Bumble's loyalty of our million Gen Millennials use. levels and is as to we saw majority strong markets, market, remains largest our that share safe a more active including in that This continues app men record established US, across QX. with of the users, its data to woman-first had another all significant total our daily users these personality XX% Bumble from And the easy is leading monthly total the We with revenue active with once and users

the in past, the mentioned were strong in year, QX, In In biggest made progress continued expansion, see the and our app Bumble new priorities meaningful for growth entering LatAm. to around is international speaking many in very the significantly markets expanded we've of markets. world. pleased we've we past English As markets one core beyond we in

revenue. which launches We Southeast DACH LatAm contributed Asia, Mexico campaigns supported region. and and paying nearly up Other as in strengthen slowly Indonesia such users, saw India have also opened where successful quarters. the such saw growth seen we growth to resilience across as robust and we've Brazil, user we the marketing in continued year-over-year country XXX% pairs newer prior is markets regions, as in by in Philippines, the momentum continued growth and and

is that Our many enables this key ability to differentiator experience localize growth. the nuances a for Bumble app

quarter, increase be is needed adopted this to which us app's our Bumble chats. our a is language different Bumble's language localized for proves we such saw in matches in and range of higher innovation example, badges, us many a have further mission different in we we leaders For launched customers tendency that world. interest core category. of commitment Among users women-focused market an exciting embraced see Product badges and regions approaches safety to that It's to and good badges how wanted and to who international priority markets. implement and much allow build in narratives, around the and a foundational have

success. overall to quarter, user greater in behaviors This encouraging order high on levels deliver focused we of intent dating

minimum this, of part user profiles. As user most process, of profile we new photos onboarding made two for mandatory new introduced elicit users more to and optimized a a richer, our wizard, detailed

also to are safety platform In now with the the of to users XX% on addition photo enables profile percentage rates, improving completion that up verified increase year-over-year. us this

meaningful matches also We deliver screen metrics. chat intent, relevant chats, improved new potential more ways features easier These including passive by a profiles. to for and and dating engagement initiations from enhancements significantly initiate discovery introduced user matches to

us build and other we our goal growth on of the into demand given the dating speaks user Bumble focus relaunch spoken early of remain VX connections. ecosystem on adoption trust a choice. and need of and platform to mission with better future Bumble, pent people focused Bumble of which discovery to clear space. expand this women, in response have affinity BFF that BFF, this social and to of And areas experience MAU We've our safety, created in Our XX% this relationships. allows platonic for app before QX, finally, continued becomes to a up for originally was for in is our so version, of of

help seekers. are also find you be will user On Our but differentiated community building connections, joys product we that one-on-one a shared broader will and community friendship BFF, help on for initial experience struggles. and building ensuring focus shared find you a will a for

building to BFF. been The test to that the changes to first has use of multiple it experience, make and user to discover easier phase to

will about participation tested level it XXX% mode, the in they empowerment the extend BFF one members virtual or For X.X a the the owning gives plan a experience life. of of to as that a plus more on it make Bumble. community test treats to and thus our through engagement, everyone community as the for becomes will We it term, goods metaverse. lifetime recently community using to the the But X.X near increase together their flow of participation further we'll and believe Built the change identity new in navigation is. they customer. date navigate proving to world. But us a way value between QX groups creator is example, acquire, happen increased This test make modes. platform come mission they looking participants saw who with communities early own for experiences a and in become We start expanding we enable BFF all their and what that usage crossover could ahead, allows small means this than a and Web on ways through users, In new in blockchain further Bumble we XXXX. that term, models. longer build, even technology, Web a Bumble us to in the leader

these excited how members, gen engineering-oriented to really that are the bring And next beginning company, actively opportunities for are our us. we exploring with we opens by an possibilities up we As BFF. this

face Badoo revenue, $XX remains year-over-year. dating from downloaded an down Now its million app for quarter, other last is said world. And the Russia, UK, the in in differences Badoo most we class an and app and predominantly second user where markets value US. these which of was without standpoint, had X% segment, data COVID. is user of QX, markets, Badoo operates its many of turning middle sources, top proposition of the to outperform authentic pace urban to recovery region. large the Spain, significant has to deliver. economic on This in from According overall still pandemic continues continued and core has growth including trends quarter-over-quarter the challenge. basis, a markets, a Badoo by connections a community, as in pressures pressure But number continues with the to providing in Badoo impact the to download quick And third-party on which engagement in market

Italy user markets, many France shown have users in and and like lagged. and key other such Brazil, markets revenue, both strong as While Russia paying growth have

time, mobile differences app platform. users Badoo's that desktop to mobile revenue that recognize legacy to Badoo seen It on COVID. platform. successfully has expanded from see during decline over has also performance in is by accelerated a and secular platforms But Web in and Web important we've We

and up in web were was For revenue example, iOS mobile Badoo down. on desktop revenues while year-over-year, QX, from

a experience transition this who integrated, by of one experience combination managing from with occasional mobile of siloed more that so moving we better app Web a want support use the are We that's desktop independent or can our experience to Web. customers native

on saw In paying decline this Android addition, we also quarter. in a users

Android As we said before, platform. options the on third-party we billing currently offer

ensure users. paying these optimize we which working in caused QX, customers disabled minimal are closely our to since currently of impact these non-native to mechanisms, disruption in our payment a resulted decline part and payment We've the future. some and that so in our flows, can reenabled partners platforms payment third-party with we For best

we release features prepare investing Badoo from actively strengthen As performance. and COVID, we emerge markets for to many new product to are

of with introduced Badoo engaged has QX, video who short new early for the format in signs profiles, we example, among form clip. Clips, users which For retention a shown increasing have

we've impact education also in made a of people We've multiple Alongside positive We our and safety matches, to to on expanded improved bad and conversations removal talk had also center mechanisms, with on drive start more blocking our experience which prioritize more has actors. help user initiated. someone on investments chats this, the effective safety their easily Badoo. accountability to resulting

message a is pop with rude report, everything a This and and up that also launched recently over expanded received initiates a feature member new could also not. available will detector, okay message XXX or who member encourages harmful We be Bumble. the be to model in if languages is in that has to sure make checks hurtful. to a The

Now, moving back that like to I'd up safety. commitment Bumble underscore to of company couple initiatives a our Inc. to overall highlight additional

reports launched During reduce to machine most new we a respond the response model QX, to and serious learning times faster.

our community AI-based proactive technology also to of We and improve violates behavior content are continuing automation that guidelines. investments detection in our and

of our safe and work manifest team's market, our highest you will growing priorities, with international our user together much. accountable me experience. And am in that, to results. hard technology. the very it discuss facet about all today's to the stellar every we I because users in In and we engagement, what financial execute our focus, to grateful Bumble future. continuing and our of that closing, Anu very particularly tech, the said In our proud is strive to and I've discipline be accomplish priority. our As safety and continually product values choice for community our an mission, very and strategic building innovation that expansion, of of before, and product including operational and of turn I'm Thank continues team. let latest to And job competitive excited and strength in employer so of on

Anuradha Subramanian

Total up of PPU everyone. $XX we revenue $XX.XX, X.X EBITDA for hello, XX% with accelerating users app PPU. both million results end both continued sequentially. million, our In was guidance deliver ranges with And growth, QX, year-over-year our QX the our the year-over-year, year-over-year, X% was driven revenue up of healthy excellent increases million, had high exceeding and million, XX% previous grew total paying up QX, revenue paying year-over-year. over Bumble $XXX quarter. and by Whitney. year-over-year. paying XX% in strong in users Bumble delivered to Thanks, and $XXX X.X at and with XX% of app users to up adjusted up XX% Growth of million

core in improvements has our regions, navigation was X% increase moving market. positive awareness up growth helped and nearly with of both We and continue penetration. us to XX% to adoption launch add all and was feature market enabled and this Beeline product of this front in on to countries in in The led our recent UX paying quarter bottom shift, launched year-over-year features the sequentially, users growth. users' has as many including our ARPPU our design example This newer LatAm, the to app's feature which also core we internationally, also we One a have expand improve DACH showing triple-digit revenue popular of with in Bumble pair screen. conversion. $XX.XX,

Our full-year reflects and tier benefit optimizations ARPPU a growth two from subscription. pricing

of extended and Our ongoing. driving is spotlight consumables in received has work uplift popular The on of our also ARPPU. been spotlight launch well feature globally, upsell

revenue totaled Our and year-over-year revenue. In in million, to in to the X% pricing XX as monetization a million, down was saw users X.X on across maximizing increase a different Badoo we year-over-year. offset work X% $X.X $XX.XX. ARPPU optimizing million of decrease the QX, other X% or around continue with user goal we by and which geographies app experience work will paying

disable towards have in users paying only X% more been reflects Early Badoo in signs quarter. mechanisms post by subscription COVID erosion a mix QX pricing our in now also it headwinds in and improvements and the continued Android ARPPU product, contribution revenue platform. just of very we early geographic for impacted the We QX markets Brittany, Paying payment Badoo marginal subscriptions monetization had more mobile complete and tier the late heard global plan rollout QX. of usage. ongoing to a by demographic QX, Premium we primarily the part desktop on promising, you some Web declining tier users from up Plus was launch in and that in As impacted were certain the QX. second to and due shift year-over-ear, launched longer-term are two so where

last QX, from rebranding launches Turning QX of expenses well discuss new This of of market XX% XX% Sales year. performance Cost in now up public these impact was basis year-over-year million, Please revenue quarter. spend G&A will year, revenue. the and one-time in Most year-over-year. as of increased million, of to levels reentry other represents due initiatives and $XX $XX higher of I and due had to to representing was on note higher uncertainty million adjusted this increase company The campaigns spend marketing non-cash, Badoo. and given revenue XX% due for to expenses. marketing marketing Bumble was expenses. an compared XX% some XX% was year-over-year, lockdown. excluding as and to fees aggregator lower-than-normal of we the were up $XX up that primarily increase COVID and XX% higher marketing for last costs. headcount revenue

to $XX Product compared equity year, quarter development higher of to revenue, compensation was was The resulted this up the margin the marketing of reported EBITDA a loss driven net $XX a We revenue of of was expenses on of million, million X% cost due slightly expenses Most expense up of expenses quarter. year. EBITDA from million a XX% year-over-year. year-over-year of X% and $XX last Stock-based modification in third by last XX% X% compared this compared at last compared last $X percentage higher million, As XX%, These headcount. both to totaled of growth. was awards primarily difference Adjusted increase a year. was for to up year. $XX million also last GAAP headcount million and IPO basis. XX% adjusted to net revenue year. This loss XX% quarter reflects $XX

completed During shareholder, Inc. offering follow-on benefit Class our of proceeds the any receive transaction. Bumble A was The not quarter, the for million common secondary secondary we majority did of a and sole offering XX.X shares. the from also

end as Our totaled cash $XXX quarter. of cash the equivalents the and of million

QX our to turning Lastly, outlook.

We are We healthy grow on performance. positioned as feel the initiatives. margin. to year well a our into and to model strong delivered revenue, key in pleased of with continuing well our for leaning QX results many progress meaningful We rest top the deliver as the leverage operational in line

result, and raise guidance EBITDA. revenue are a pleased As full-year to XXXX adjusted we our both for

total revenue in to growth $XXX the range. expect the million we million, XX% $XXX of a rate QX, For of the of to range midpoint at representing be

range which the the $XX $XX at We adjusted million represents XX% to midpoint. of to in of a EBITDA expect margin be million,

For translates in the range. year, range growth representing a the million, to full rate guidance at $XXX of of this $XXX of midpoint the the to XX% million revenue

adjusted of you of EBITDA that, which be million $XXX a And range in the for to the ready time. expect Thank midpoint. are We questions. margin to to operator, your take we represents $XXX at with XX% million,

Operator

Instructions]. [Operator

question JP Carpenter first Morgan. from Our is with Cory

Cory Carpenter

Store, topic, Bumble? and, And recent just What App year and you hoping on – on your there priorities get just most potential to the the on then and one's international but most opportunity rest first could see for of the totally Bumble to you're the you geos XXXX. thoughts the different therefore, app hoping impact secondly, changes My into elaborate expansion focused on?

Tariq Shaukat

Tariq. It's

prepared expansion, continuing to mentioned, pleased of Western lean of are for German continue very, in the strongly there. We're grow we're very Europe, we regions Europe The we results for be with remarks. the very terms speaking to in as In international Bumble, in us. to seeing continuing

France think the Western be a strong, parts well and lot So there's to region. of such there. as Benelux of upside very continuing as Other Europe

we're really We front the just front. seeing Bumble larger pleased more that. is as really we're success has strongly. the on on vibrant, user that quite well very the resonating with the and ecosystem So, as ARPU proposition on the good value both think And for as got

and If Latin focusing very you like missions America Asia larger a really Southeast in Again, as the markets, – there. Whitney in Brazil. and we those the and look America, we're We're Europe, markets in have pleased as pandemic cultural push would ethos with, but and quarter that really area value growth Latin Latin And are really Western big last Asia started the changed, conditions some some the again, but we're different to and are to resonate very the at triple-digit in continuing Mexico Bumble seeing of America really invest into start in good on countries seeing mentioned, really, have solid results third context see to out proposition Southeast as what with really then, both in I call Asia. South there. continuing seeing

to to very investing areas, as more So, those for continues this continuing and been some well. us. see and India Indonesia, in we're marketing regions we've Singapore grow more strength in Philippines, quarter, nicely and

resonance So, board across question. over to I'll value Bumble markets proposition the all for much really of we've talked those in Store Anu it the pretty turn App that broad-based about. the

Anuradha Subramanian

and we're seeing both I'll Apple what about and there. just talk Google

lot has waiting as course, few Store things in recent around forward. these never today to will change, like sort to answered outstanding been especially has quite Things relates said a can have experience deep it payment the months we historically fees so a before what last that had appeal, are there the of Having us. since given provision, the the developers questions the direction about of ascertain absolutely we see going it be be policy we choose to especially non-App yesterday's some will how think to say what news very to ability in following are is App case, Especially non-Apple the Apple we expertise as closely. of anti-steering and this the definitively specific and step believe an linking fast Epic happens we right changing The the ruling, are do we in how happened we enact pretty systems in the iOS of payment obviously, most to that, are around There So, looks are and we've systems. the third-party topic enabling fluid. Store payments. user like, can still

once amount So, for that to front, we able on very we obviously, clarity users. Apple. get a of that actually total being build to huge right about experience stores good money of today, goes we the payment the our feel And pay to app majority

So XX%, app they And watching via overall do are Google, positive very very ecosystem. respect A XX% for of Android our the again, we with fees to what in Bumble, and see the we from company, of mean, especially on today the what could this as that are for majority again, to will terms revenue news closely. dropping they is subscriptions.

been And this partner Google And has several and a fees us on us change fronts. especially is fantastic in to important. for relevant so,

Pay them closely figure we takes And reduction out. so, the fees we actually that. were mandate puts to in offsets around And the working to Google looking out March, are that versus in Google corresponding play figure if to forward with have then to the will will the billing out and around this how and

because absolutely be and we the this. of benefit. to steps But these to are are to believe quantify Apple are work So, taking. happening It's Google thrilled the early bit we little all we for that the a through need right changes still

future. we and forward in to look closely this more tracking we're So, the providing information

Operator

Our Schenk from next Morgan Stanley. question Lauren with comes

Nathan Feather

Feather It's Nathan for on Schenk. Lauren

both So, Bumble Badoo the were up nicely really quarter. and ARPPU in

For how are been the kind subscription Bumble then, of tier thinking in relative ARPPU with you about trade-off ARPPU, two product of of impact terms improvements And you've other any acquisition? the way versus to higher the pair making? about the think

Anuradha Subramanian

very been XX% saw are performance growth rate has tier quarter. two the ARPPU the that you with Bumble year-over-year of contributors to this pleased ARPPU. one of main And We the

that our optimize the very people all rates in than that a to the higher newer true specifically. are that. So new well also XX%, men really markets, continued showcases in. is women-first still to terms price our we're around able adoption of we're holding truly And XX%, of actually We're that improve. the we've tier adoption that for the upwards product numbers how brand because really pleased as for this in cohorts has of to pleased are of and with quoted as higher for are also in past testament opting women women The

So, we're very excited numbers. about those

In we work And two see before, to ARPPU we've addition a that. you lot plan quarter. the elasticity. on to to has past, improvements contributed said which to is in our third in we've success, as the to price tier, been started around And of doing that see iterate continue the

have about lastly, seen as every think that lot ensure we of in. market about the successful prepared In extended very have us. we we are in spotlight. We can of work we of additional more talk a for That do And my remarks, each competitive in consumables. in our subscriptions, already has beyond markets to that I that stay been success launch looking launch we

driving incremental ARPPU – us will for ARPPU be QX in as well. that that expect actually driver We

more quarters. in So, to about consumables think be a pipeline things additional the we in we lot have the launched as coming

consistently So, to goal maximize sort from as to that more this people's we in is expand on any said we've propensity the come the revenue markets differences for well. that. versus mix just we have And across continue perspective, past I can think know the an especially to just monetization see as the in also market. country take well, different our paying philosophy pay to as of important internationally is because of step this subscriptions always back, And potential between and various consumables impact on to a in regions. we And

city ARPPU, third always that think to market goal and we enter and these level. about you country saw at very we micro do as puts decisions users make between So, at as on a in that revenue. that And a the level with maximizing country paying by the out are takes a every and play quarter. we But we basis again, even the

an across that we us more lot that's hear and Badoo. important Bumble And about quarters have So, as the a future both well. in you'll philosophy talk

Operator

question with Jones comes Citi. from Our next Nick

Nicholas Jones

I then guess people question, has second as payers still Or engaged overall one How or on compete How of macro pay? panned kind engagement other the products has COVID they as users? out start we're for weren't step conversation and kind how kind kind back, reluctant maybe pressures. to guess, like? and position kind just or Badoo, I due decreased? Bumble is to of Badoo even Are engaged guess, and users of looking merging? hearing pressures in solutions Bumble. words, I it just the payers of engagement around metaverse as to MAU metaverse. And more to were guess, to was for of free I

Tariq Shaukat

Let me try guess. each turn, I in of those

Badoo, we business I pleased remarks, take the the on if a in as the with a very back mentioned step Badoo. underlying be just to for second, on On Badoo we prepared continue Badoo,

the Badoo countries. just some as into one it economically didn't Bumble look impacted that are impact you when where impact We the And has Austria is business went sensitive example. more user. a seeing that lockdown, it at that different business,

experience. does drive is we they seeing those which who some are users that in headwinds love underlying however, COVID – quite for engaged, those on the are we the the app. still with, So are of fact pleased What activity

highest five look industry some people I'm scores an the speaking, we, is are measuring on star and liking. But Badoo App have generally on reviews. Store, NPS star that in the you by the of If one it still reviews minus that experience generally

are engaging app, engaged think we our those being in the be inside you and If of good of retention who period, to chat any in quite and as active what look tend getting numbers given connection. at

happy sensitivity any we're with geographies, not that So, again, Bumble where, There's particularly quite business, of economic the business in business. seeing to there a bit little just underlying economic sensitivity the due in certain more is we're in COVID. than that

of clarify would frame if of Happy to Badoo So, that's it's how sort I any portion. helpful. the that

with as and we meaning on avatars, communities is kind have. true in experience just that Badoo, not a particularly on about lens an we build and And they think true a Bumble Fundamentally, the we exciting. the really sure application when Web are but engage members the are that in the to it members near – in happily really virtual of community, piece, is we is reimagined this there we're mentioned. term we think and what just somebody are Bumble of participants really experience who but of the really I'm do to and of ecosystem, community think interesting particular, our general BFF, think, engage this will and as opportunities On super et cetera. blockchain will really we we're taking metaverse that be X.X But as more them the that people. Whitney in is And our really crypto

whatever toehold but is to this, technical This setting the couple the world. We months upcoming we so rolling is tests for We've very got we're And the that in in experiment. X.X in first we're going excited the metaverse there. a will that make that to emerges around want that's out evolve. continuing to engineering and foundation about and the we're Web sure we think be something of

Operator

ISI. Our next Khajuria Shweta comes from with question Evercore

Shweta Khajuria

little product Let give me more update development. Can two please. BFF, you try on color please a bit on

conversion about. of in XX% question And then, marketing. this also if subscribers I use come users give if IDFA. from of You XX% typically around talked mentioned BFF scales the successfully? terms second lot performance BFF. past, other also A In context your use is the would been you've the users for of on you way wonder product has pair

extent please can, meaningful be how about you it the talk to impact an you could But the may impact that So, the of in limited. was quarter?

Whitney Wolfe Herd

Let's it relationships and ramp of people and then an who as this we idea necessarily don't today, for huge relationship. BFF community, Therefore, look BFF love but feel as future. been fascinating brand happy people there in TAM our to for already a take unlock about or bit. huge see incredible they engage stand into a connection, of What's with mission perspective high ready we at on brands, And our a a they level opportunity has has unlock the love what granularities can so the get this be finding for, romantic the existed with might brand. to and dating from in company, love is a we is a from begin

as into a is moment, not dating in well. massive an only most platonic of the product relationships, future this So, this is our a certainly opportunity build to the side of I'll on about which but ramp speak

you So, at our but or Bumble, single, us is they love brand, hats. somebody yoga they with quick who they dating love out about back are getting our there they engage a wear joining class, example, they newly hesitant and have their app,

building with on dating And a and but and get them both this they And a there comfortable relaunch of and not now, Now BFF on dating ramp relationships opportunity they goes to version that ways. an only to is engaging convert paying connecting. to customer. customer, become

of dating is healthy So side extend churn on that into of lifetime side LTV as platonic and of opportunity the value the bring the now see there you that our platform. them customer to product,

this open product, company. blows brand, a the just as LTV, of really of future as general, in a our a So, as our

and so So, why what actually on talk going about at is let's BFF excited this. about we're

As this I relationships. of extend all all to really mission some our and our said, achieving remarks, prepared with healthy is chance to relationships and for equitable the

is a So, experience. right Bumble one-to-one now,

connect – experience, To also to achieve huge community one one able to then but the one-on-one many you The a with to to many. one-to-one a the BFF one and have a product join join and still opportunity. approach is and you many You have product interaction. the on be to

opportunity open for connection. this So just broader the community and blows really

tested to XXXX. And So, expanding experience use flow really QX make groups with the crossover multiple changes plan easier start navigation then and increased the that it to to we example, QX, and small between a for user change discover those usage test BFF in to in made modes. we to And product. we pre-existing early the test in

people more is this open the just to we're of love. opportunity. blowing bringing So, product excited the very opportunity, into than really our this And crossover about for beginning

question, next the as I'm to Tarik. going far As

Tariq Shaukat

of in Shweta, the IDFA only mouth and comes our said have quarter, before through On everyone it we over what The remind some XX-ish-percent the through and that we've think the many this in that last I built marketing. just comes word years. performance to remainder remains results brand acquisition new of of question, user about true one-fifth, of the means, organic

very, marketing into the and very of to on IDFA performance continue going in that advertising I their the ability to proud and side, changes As dig the all team be through you navigate of just world. online

through of advertise managed very Apple around that. material our degradation seen board efficiencies have any really and team the of Android. is a successful. team little a people are, not our said, performance people rush top The on a way is on quite Search of very on is mix. are been There's on something Ads as number bit other acquire Android seeing we What effectively. across have We This marketing. their marketing has some very, channel to

very navigate we business. inflation those that use So, happy on to scaling But, and our the it how on the to we bit our with do to team through that's led and of very lessons take is a overall, are side. focused little price Android ability continue

Operator

Markets. Brad The from is next RBC with question Erickson Capital

Brad Erickson

I would think has how international the I a shortfall you some what follow-up. of And Badoo can happened persistence bit COVID's then this detail? to disruption, of been just was bit, related the markets kind through much payments a already payments on versus this little a have you covered there more but in go of just disruption? say And in user paying then,

Anuradha Subramanian

in have Android past, multiple has And long payment we've enabled for providers we years. many Badoo third-party our standing Badoo. this historically platform is a within brand on existed that the talked about

of so, part And temporary our And when a we platform to loss plans, offer disruption users our payment one-day today subscriptions of turned users. available the payment as future, lead the to may saw these that certain this, not the off. potential Android decided we that some third-party of happen off like anticipation for subscription in to QX, did non-native that plans was part in also changes of on platforms, we we for turn which

of saw ARPPU higher tier, Badoo in the result a of moved in decline saw users. ARPPU is X% which a that QX. increase we to reflected also as paying saw as this, we growth So, payers these corresponding was what But subscription many we in in some in

to hard But to future all the changes turned forward. user doing our can customers payments back we disruption our we're for ensure QX, the And with perspective have happening all that versus a very ensure little with with partners. isolate disruption our partners, to are the with a going bit It's that the we fully business. impact future on. work from of best experience any working that relationship we and the we're and with the a we this third-party payment working mitigated so payment larger hard them minimize that part payment immediately, is fully any closely we So, great of are Badoo that provide

Brad Erickson

just I guess, we give as those quarter, metrics may your those sense sight guidance Maybe forward? of on headwinds the some of look contemplates And of sort around mentioned of a in be given of lost? any just towards us you paying any subs those you just there, specifically, users line recovering follow-up more what some

Anuradha Subramanian

In about I thinking both and talk terms QX Badoo, it's of how actually, about can I helpful. if we're Bumble guidance, can

we are newer on our as So, core product engagement seeing in in. in we're across Bumble, the well that markets strong markets, as launching

in will that driven to we terms this in growth potentially we QX, users that similar expect continue a of that in of will growth year-over-year what expect a by we international paying majority on well. saw accelerating as basis be So, And expansion.

improvements. product to We on that are working lead conversion lot features will a of

markets, some And very many expect plus built are we work about feel growth other pair So, other ARPPU continue we doing two in be in to I just side, we've sequential usually bullish the see there seasonality has that improvement we Bumble been And consumables. in well a basis, while for some in, positive that. we discussed that tier QX. as on work into expecting on optimization as we're going pricing year-over-year the that of that doing from impacts that will QX the will

is think concerned. far as accretive So, we growth ARPPU in that all will of be as

all pressure that paying for mentioned could near-term the see discuss on users. we and expect Badoo, some do Tariq reasons we that to we Moving earlier,

As the But COVID in fixed side. our strong we seeing usage on gets of iOS. growth persists, some Web are

continuing growth excited paying year-over-year That about in users. see guidance. And our is positive QX, expect that we positive which be from we're launch as the in also we resurgence perspective. factored about very ARPPU a very also we on to tier as into Badoo So think will two QX

very So, into about those raising outlook. our feel confident outlook. all our are factors We overall built of

to revenue expect about based full-year We XX% growth we on these be are midpoint, numbers that. the excited at so

Operator

Thill question next Brent from comes with Our Jefferies.

James Heaney

post also your returns being could James some in comment the would markets? be particularly running on could that has you of Whitney, the think of second Are importance get And we And leverage It that are an in one, the It's how you've about hoping video growth bumbled part other of video you chat rest was Any strong? for you international been just great there as on the of lockdowns? if experience? brand you seeing been my you across markets. that payer you're Bumble of call as international out campaigns the can Brent. continuing the experience. of ways talk That's understanding And on question. marketing you levels product trending I see to first video my from Bumble pandemic can high engagement

Whitney Wolfe Herd

meeting videos date leveraging even are around during potential a the has is screen matches pandemic, the discovery in thus for reopened people probably markets. most Here's to that far before fascinating this emerged

to increasingly side who they that other they to and able comfortable do love to meeting. essentially hearing a on being make person call the say they're is feel video that exactly somebody are of idea people are we they the sure it's quick So, the and talking

So, than corner, meet dating, go meet sure is the maybe we not to as other option they chemistry This only the save because was for time, a was it's there's there out that could People different construct on emerged fundamentally stay it the pandemic right? believe be and risk, video the side save the go that around of to they now in it walk park. going go a yourself is make to stay, to what here for potential screen. in here not could the dinner, for leveraged to yourself to and to could not

is so, absolutely And with the at future, our is mission, right? this just do to that. And video core. the achieving imperative our the and to we safety mission with of brand Everything importantly, do is our we most core. at such is Everything catalyst a

excited mechanism X.X, the the to about current ones. very, struggles, see only people we're of and get interwoven And incredible to a so, is you'll it's the the our for. that great each this to and opportunity And for to in and emerge the interest helping not future joy, is find people topics, through one. common video have the experience for strong and data together have know fundamentally engagement, looking to seeking When the as through pertains in platonic Web business future people it video as through great about people of even you mechanism very socialize, one and as they're we romantic chat, this. know an this to other. shared Video is more video are right, a such we And get way think video well bringing to as relationships or broadly, into to through seen,

James, Tariq in to for to kick talk international it that, growth going payer I'm markets. with the to question. about So, thanks

Tariq Shaukat

question. There's, your guess, to parts two I

Let and me in try take turn. them

seeing and payer continuing those Europe and rapid active well. markets to in in very see are and we the in On But Asia. America international growth Western mentioned the and South Asia growth as markets both we're in user monthly payer also registration before I side, Southeast Latin

payer growth Asia growth growth very mentioned seeing earlier, to German in triple-digit Southeast If you fast look regions in those well. that regions. addition the in in Latin I We're very seeing and as America at MAU we're speaking high payer

question, with are as we emphasize, in on happy very we're maximizing that to So maximizing just that answering would payer. focusing that. revenue opposed to I

in in at has to payer we So, the local example, at two-tier Germany, there, we cetera. an acceleration we're look et robust the we're price as levels at launch ARPPU an we probably to growth example, see price to which pricing, growth very Southeast whereas led points are on continuing an Asia as our payer if more as point, market normalizing our focusing

with mosaic, a bit the on happy of and, again, is a of it growth proposition very we're payer Bumble. the validation value So, but

go that trying terms of international the markets the got. and brand way we've the into marketing In any these is the brand campaigns, we build of ecosystem that to about the is have on the ecosystem and This the product mission experience you safe of the just a is Bumble and on the experience quality really the positive app. the side that and really

That's might So, of really all it's been are or right move, the market Singapore. value I are has the the on we're is way to campaigns YouTube, influencers, Mexico great. making in marketing just If a in localized We're is the is the proposition differ with but brand our it of and first our about that both band localized with which Google the the response local created think differ translation response a you how that happy might explain emphasize not Germany in thinking sort also in the you'll Singaporean very seeing. see Singapore? was broader And countries jingle but right that very about how we to for what thing issue, that and in. what

Operator

with comes Our from John question next Blackledge Cowen.

John Blackledge

clarification. Some on, of some this just but has further been touched

markets On the a any growth the the Bumble clarify, think of I more that drove growth, user a on the to And growth? where Anu, perhaps paying could then, of Bumble kind mentioned key heels of in drag user international and app that that were XQ markets accelerate just expansion. app, was were there growth what just XQ user on user paying

on of on I lastly, Just in thoughts of kind XXXX, then on XQ? recently any that international early you markets any want XXXX? other And just to kind turned way or turning to check frame hear any that. to And you're did see are if there

Tariq Shaukat

start I'll XXXX. turn Maybe and to I'll Anu for

be In I at has to robust, and on in markets. payer there's more payer triple-digit all much grow the percentage what contributing It's mature certainly country, at to that. hard a it'd consider than be region our And seeing our any We're not not is mature growth we been the growth, as to markets in But pinpoint increase it's one terms region, general, slightly markets. one growth you'd an of our our both payer say pretty would across that but payers hard market a to markets, be that and lower rate year-over-year penetration drag of across-the-board rate phenomenon. expect, generally it'd one payer disproportionately pinpoint very speaking, less newer growth.

quite the So, growth payer a pleased that from think standpoint, with I we're breath.

that in local of seeing rapid been we pay German about We're place We've the It's it for efforts the see off. of terms continuing region very markets, and push that Benelux broadly. really to et Belgium, cetera, gets I Netherlands the sort expertise regions. the we're And talked newer and what the to France of to are putting and kind we're in growth In newer us localization kind earlier. happy more of said a market markets bringing those back there. in is

continuing So, we're There, continuing to Latin America. in to we're levels. high have investment push

spots. a there, markets, to traction are were to at we're with and that in we're cetera, Asia, different. quite Asia, But is of bright if then Mexico radically focused. Colombia, markets other countries large the Brazil two very there's it's pleased are being with larger – you country mentioned, very look there. lot I As et like every but single easy – And These say Argentina,

a for with have And example. we're last happy Southeast so, Asia it planting results to as we've Asia, on quarters days North the for this in Singapore, the in of where Malaysia, Anu very and Indonesia, Asia, Still we're quarter we've an and guidance. early the couple seeds been really small particularly turn in very I'll focused but markets there. us seen South Japan, business like India, with

Anuradha Subramanian

about question On right. you're QX, this

from users We work about international also for to very in paying the feeling of the growth And the with that across versus that users QX markets. are, QX. user the a expecting contributing the users. perspective, Tariq from year-over-year reasons about, of a talked growth will the Bumble lot our in paying seeing positive we're we're that perspective in that product accelerate doing a growth Again, paying is resonating lot and we're really

we So, excited very feel very, about that.

outlook, you as for XXXX. we XXXX of planning terms can in are imagine, deep In

So, numbers outlined still we've we in more providing detailed our look remain. that the at as forward to call. XXXX, our sort we've of But in priorities, all next had IPO

improving Our work do doing of the goal monetization. around focus is as amazing all that continue improving penetration and on markets as to to be and BFF that the to better our teams are we bigger the have in, launch payer all in been continue well

looks think really QX our on year. XXXX into going like, especially happening what QX and are momentum as the about end excited we lots next and So, about of into we

our you are we So, in that excited quarter. to and information look next we giving forward more about

Operator

time question. Nikko. Steve we have last from for SMBC Question And one Koenig from

Steven Koenig

just and And timeframes quick that me don't have And process? a metrics, follow-up of The the the I've one discrete if And more I'll your follow BFF maybe that remind more of relaunch is have of then, or you event one mind. on there. up. it could impact got a

Tariq Shaukat

characterizing, would you're a more a timeframe. I probably, as it's discrete than say of process

sort We are a of test, expand. big believer learn, in

of some little So – we parts launching on experience. new be, the new on later pretty QX, market the limited in will on a tests

market into fit, of those QX events. think Big And of you'll I and type learnings bigger QX see rolling early expansions get it, we expand around we are the but than believer sort Bang see to next year. in accelerate of of will kind us the product we that want a as

us see So, from that's what there. you'll

Steven Koenig

you hard any interesting going time relevant, imaginative of but how can sleeves. I'm maybe your experience? imagining not got being kind things I'm color Maybe dumb me blockchain a application crypto I'm give sure But ask up of a it's here. having enough I'm to on some community question. you've your this and on

Tariq Shaukat

I have would actively interesting working sleeve. think not some We all. it as through we're dumb something a And question right we at up our characterize things now. It's

as thinking organization, us eyeball not construct way and you'll that Whitney in right, struggles, before, just about some inside the as is which joys company, through find helping thing are each that as as particularly shared of community, imagine lot as engineering we about membership think both you as to a we're membership think other have the of example, the more a world people communities shared an – outside mentioned you to communities, notion I one users, shared value of heard for shift people of a sort and look out to or right that of interest, actually somebody an to describe of into and have but like helping I how you talk enable the to And we to we a how what of important say try of our that, in get that's the it. do having this that from not think and are who's a communities right? we and create But And We ecosystem are think monetize, participation way is thinking that BFF to coming successful, those – just ecosystem. communities until really industry. who announce going that. the make of it's of tap some but that level seismic truly ownership the through help really we from hard if as

an empowerment is around that, equitable driver we it around women's like and and really important If the really world. healthy think to in back empowerment mission people you our for areas relationships come

more ecosystems. to know that's could I more as if bunch We've this based going going But of look ownership got generally, it it clear communities got bunch so, you. for economy about don't sort what on the any the the experiments decentralization, discussions and relates that of we've And But a concept makes on. of a of like.

Steven Koenig

understand move you articulate, along. as and I'll better very That's I'm sure it

Whitney Wolfe Herd

BFF a right now. be I soon everybody will these clearer shape, clear I expect as of starts have we really how think really to understanding it but to crystal ideas think take life, of as some to come don't

Tariq Shaukat

I did my best.

Operator

you a concludes this gentlemen, evening. participation. and our Ladies Q&A for you. your Thank great and We program today. have thank Please, for

Bumble (BMBL) 11 Nov 212021 Q3 Earnings call transcript