Grindr Inc

For the period ended Dec 31, 2023. Filed Mar 11, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 11, 2024

GRND$13.47+0.7%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

(in thousands)

	Year Ended December 31,
	2023	2022
Operating activities
Net (loss) income and comprehensive (loss) income	$(55,768)	$852
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Stock-based compensation	15,824	28,422
Loss (gain) in fair value of warranty liability	49,689	(21,295)
Transaction costs allocated to warrant liability	—	2,302
Loss on extinguishment of debt related to 2020 Credit Agreement	11,582	—
Loss on extinguishment on deferred purchase price paid to Kunlun	—	11,851
Amortization of debt discount and issuance costs	1,819	1,281
Interest income on promissory note from member	(282)	(2,842)
Depreciation and amortization	27,041	37,505
Provision for expected credit losses/doubtful accounts	421	282
Deferred income taxes	(7,982)	(11,218)
Non-cash lease expense	1,144	1,050
Changes in operating assets and liabilities:
Accounts receivable	(11,892)	(4,832)
Prepaid expenses and deferred charges	3,449	(4,440)
Other current assets	(1,663)	2,558
Other assets	(350)	20
Accounts payable	(713)	1,802
Accrued expenses and other current liabilities	4,661	10,211
Deferred revenue	595	(1,491)
Lease liability	(1,417)	(1,989)
Other liabilities	(11)	615
Net cash provided by operating activities	36,147	50,644
Investing activities
Purchase of property and equipment	(509)	(430)
Additions to capitalized software	(3,721)	(5,155)
Net cash used in investing activities	$(4,230)	$(5,585)

(in thousands)

	Year Ended December 31,
	2023	2022
Financing activities
Proceeds from the repayment of promissory note to a member including interest	$19,353	$—
Proceeds from exercise of stock options	2,719	2,023
Proceeds of issuance of debt	344,400	230,800
Principal payment on debt	(367,480)	(3,480)
Payment of debt issuance costs	(4,510)	(5,092)
Payment of early termination fee related to the extinguishment of debt	(6,322)	—
Transaction costs paid in connection with the Business Combination	(1,196)	(28,460)
Proceeds from issuance of common stock in the Business Combination	—	5,182
Proceeds from exercise of Forward Purchase Agreement	—	100,000
Payment of related party note payable	—	(1,780)
Payment of deferred purchase price to Kunlun	—	(155,000)
Distributions paid	—	(196,305)
Net cash used in financing activities	(13,036)	(52,112)
Net increase (decrease) in cash, cash equivalents and restricted cash	18,881	(7,053)
Cash, cash equivalents and restricted cash, beginning of the period	10,117	17,170
Cash, cash equivalents and restricted cash, end of the period	$28,998	$10,117
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$27,606	$8,725
Restricted cash	1,392	1,392
Cash, cash equivalents and restricted cash	$28,998	$10,117
Supplemental disclosure of cash flow information:
Cash interest paid	$47,859	$18,054
Income taxes paid	$17,709	$2,236
Supplemental disclosure of non-cash financing activities:
Repurchase of common stock for net settlement of equity awards	$2,154	$—
Repayment of principal and interest on the promissory note to a member from distributions	$—	$15,809
Promissory note to Group Holdings in relation to the Distribution (defined below)	$—	$155,000
Member distributions	$—	$(170,809)
Transaction costs incurred but not yet paid	$—	$(1,196)

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