Grindr Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
GRND$13.47+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statement of Operations and Comprehensive Loss
Grindr Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited)
(in thousands, except per share and share data)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue | $75,345 | $55,809 |
| Operating costs and expenses | ||
| Cost of revenue (exclusive of depreciation and amortization shown separately below) | 19,620 | 14,815 |
| Selling, general and administrative expense | 26,609 | 18,945 |
| Product development expense | 5,741 | 5,506 |
| Depreciation and amortization | 4,119 | 7,952 |
| Total operating expenses | 56,089 | 47,218 |
| Income from operations | 19,256 | 8,591 |
| Other income (expense) | ||
| Interest expense, net | (7,185) | (10,793) |
| Other (expense) income, net | (117) | 123 |
| Loss in fair value of warrant liability | (18,680) | (15,317) |
| Total other expense, net | (25,982) | (25,987) |
| Net loss before income tax | (6,726) | (17,396) |
| Income tax provision | 2,680 | 15,503 |
| Net loss and comprehensive loss | $(9,406) | $(32,899) |
| Net loss per share | ||
| Basic | $(0.05) | $(0.19) |
| Diluted | $(0.05) | $(0.19) |
| Weighted-average shares outstanding: | ||
| Basic | 175,516,307 | 173,599,925 |
| Diluted | 175,516,307 | 173,599,925 |
Condensed Consolidated Statements of Stockholders’ Deficit (unaudited)
| Preferred Stock(Par value $0.0001) · Common Stock(Par value $0.0001) · Treasury Stock · Additional paid-in capital · Accumulated deficit · Total stockholders’ deficit | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount | |||||||||
| Balance at December 31, 2022 | — | $— | 173,524,360 | $17 | — | $— | $9,078 | $(5,043) | $4,052 |
| Net loss and comprehensive loss | — | — | — | — | — | — | — | (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 | — | — | 21,875 | — | — | — | — | — | — |
| Exercise of stock options | — | — | 296,477 | — | — | — | 1,010 | — | 1,010 |
| Balance at March 31, 2023 | — | $— | 173,842,712 | $17 | — | $— | $32,285 | $(37,942) | $(5,640) |
| Preferred Stock(Par value $0.0001) · Common Stock(Par value $0.0001) · Treasury Stock · Additional paid-in capital · Accumulated deficit · Total stockholders’ deficit | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount | |||||||||
| Balance at December 31, 2023 | — | $— | 175,377,711 | $18 | 357,240 | $(2,154) | $44,655 | $(60,811) | $(18,292) |
| Net loss and comprehensive loss | — | — | — | — | — | — | — | (9,406) | (9,406) |
| Stock-based compensation | — | — | — | — | — | — | 6,259 | — | 6,259 |
| Vested restricted stock units | — | — | 363,793 | — | — | — | — | — | — |
| Exercise of stock options | — | — | 164,295 | — | — | — | 916 | — | 916 |
| Repurchase of common stock for net settlement of equity awards | — | — | — | — | 157,276 | (1,494) | — | — | (1,494) |
| Balance at March 31, 2024 | — | $— | 175,905,799 | $18 | 514,516 | $(3,648) | $51,830 | $(70,217) | $(22,017) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.