Grindr Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 8, 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 Statements of Operations and Comprehensive I
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited)
(in thousands, except per share and share data)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| 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 | $0.14 | $— | $(0.04) | $(0.06) |
| Diluted | $0.09 | $— | $(0.04) | $(0.06) |
| Weighted-average shares outstanding: | ||||
| Basic | 176,034,571 | 174,113,605 | 175,610,399 | 173,871,888 |
| Diluted | 179,961,828 | 174,113,605 | 175,610,399 | 173,871,888 |
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’ equity (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) |
| Net income and comprehensive income | — | — | — | — | — | — | — | 22,331 | 22,331 |
| Stock-based compensation | — | — | — | — | — | — | 3,432 | — | 3,432 |
| Vested restricted stock units | — | — | 21,875 | — | — | — | — | — | — |
| Exercise of stock options | — | — | 189,072 | — | — | — | 674 | — | 674 |
| Balance at June 30, 2023 | — | $— | 174,053,659 | $17 | — | $— | $36,391 | $(15,611) | $20,797 |
| Net loss and comprehensive loss | — | — | — | — | — | — | — | (437) | (437) |
| Pre-Closing entity income tax adjustment | — | — | — | — | — | — | (148) | — | (148) |
| Stock-based compensation | — | — | — | — | — | — | 3,474 | — | 3,474 |
| Vested restricted stock units | — | — | 31,180 | — | — | — | — | — | — |
| Exercise of stock options | — | — | 121,725 | — | — | — | 458 | — | 458 |
| Balance at September 30, 2023 | — | $— | 174,206,564 | $17 | — | $— | $40,175 | $(16,048) | $24,144 |
Condensed Consolidated Statements of Stockholders’ Deficit (unaudited) (continued)
| 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) |
| Net loss and comprehensive loss | — | — | — | — | — | — | — | (22,424) | (22,424) |
| Stock-based compensation | — | — | — | — | — | — | 4,363 | — | 4,363 |
| Vested restricted stock units | — | — | 570,442 | — | — | — | — | — | — |
| Exercise of stock options | — | — | 236,129 | — | — | — | 816 | — | 816 |
| Repurchase of common stock for net settlement of equity awards | — | — | — | — | 244,751 | (2,484) | — | — | (2,484) |
| Balance at June 30, 2024 | — | $— | 176,712,370 | $18 | 759,267 | $(6,132) | $57,009 | $(92,641) | $(41,746) |
| Net income and comprehensive income | — | — | — | — | — | — | — | 24,681 | 24,681 |
| Stock-based compensation | — | — | — | — | — | — | 5,005 | — | 5,005 |
| Vested restricted stock units | — | — | 320,431 | — | — | — | — | — | — |
| Exercise of stock options | — | — | 52,190 | — | — | — | 299 | — | 299 |
| Exercise of warrants | — | — | 163 | — | — | — | 2 | — | 2 |
| Repurchase of common stock for net settlement of equity awards | — | — | — | — | 137,598 | (1,644) | — | — | (1,644) |
| Balance at September 30, 2024 | — | $— | 177,085,154 | $18 | 896,865 | $(7,776) | $62,315 | $(67,960) | $(13,403) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.