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Internet content & information · Communication Services · Fiscal year ends Dec 31
Grindr reported revenue of $440M in the fiscal year ended Dec 2025, up 27.6% from the year before. Operating income was $126M, an operating margin of 28.7%, and net income was $95M. Operating cash flow of $142M less capital expenditure of $746,000 left free cash flow of $141M. Net debt was $309M.
Ranks among the 18 internet content & information companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 146 | 195 | 260 | 345 | 440 |
| Cost of revenue | 37.4 | 51.3 | 67.5 | 87.6 | 113 |
| Gross profit | 108 | 144 | 192 | 257 | 327 |
| Research & development | 10.9 | 17.9 | 29.3 | 32.8 | 48.9 |
| Selling, general & admin | 30.6 | 75.3 | 80.4 | 115 | 143 |
| Operating income | 23.7 | 13.0 | 55.4 | 92.6 | 126 |
| Net interest incomeBanks | −18.7 | −31.5 | −46.0 | – | – |
| Pre-tax income | 6.3 | −0.0 | −51.7 | −118 | 119 |
| Income tax | 1.2 | −0.9 | 4.0 | 12.7 | 23.9 |
| Net income | 5.1 | 0.9 | −55.8 | −131 | 94.8 |
| Diluted EPS | 0.03 | 0.01 | −0.32 | −0.74 | 0.43 |
| Diluted shares | 153 | 159 | 174 | 176 | 195 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 15.8 | 8.7 | 27.6 | 59.2 | 87.0 |
| Receivables | 17.9 | 22.4 | 33.9 | 49.6 | 67.9 |
| Current assets | 43.9 | 43.2 | 71.8 | 117 | 166 |
| Net PP&E | 2.4 | 2.0 | 1.6 | 1.7 | 1.2 |
| Goodwill | 259 | 276 | 276 | 276 | 276 |
| Total assets | 450 | 439 | 445 | 479 | 531 |
| Payables | 2.4 | 5.4 | 3.5 | 3.3 | 1.7 |
| Deferred revenue | 20.1 | 18.6 | 19.2 | 20.0 | 24.3 |
| Current liabilities | 29.9 | 61.9 | 60.6 | 67.8 | 84.9 |
| Short-term debt | 3.8 | 22.2 | 15.0 | 15.0 | 20.0 |
| Long-term debt | 133 | 338 | 326 | 276 | 376 |
| Total liabilities | 186 | 435 | 463 | 611 | 484 |
| Shareholders' equity | −36.2 | 4.1 | −18.3 | −132 | 47.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 34.4 | 50.6 | 36.1 | 95.0 | 142 |
| Capital expenditure | 0.3 | 0.4 | 0.5 | 0.9 | 0.7 |
| Free cash flow | 34.2 | 50.2 | 35.6 | 94.0 | 141 |
| Depreciation & amortisation | 43.2 | 37.5 | 27.0 | 16.9 | 8.9 |
| Stock-based compensation | 2.6 | 28.4 | 15.8 | 37.3 | 54.5 |
| Share buybacks | – | – | 0.0 | 0.0 | 451 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 33.7% | 33.2% | 32.7% | 27.6% |
| Operating income growth (YoY) | – | −45.0% | 325.4% | 67.0% | 36.4% |
| EPS growth (YoY) | – | −66.7% | −3300.0% | – | – |
| Gross margin | 74.4% | 73.7% | 74.0% | 74.6% | 74.4% |
| Operating margin | 16.3% | 6.7% | 21.4% | 26.9% | 28.7% |
| Net margin | 3.5% | 0.4% | −21.5% | −38.0% | 21.5% |
| Return on equityBlank when equity is negative | – | 21.0% | – | – | 201.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 5.6% | 3.5% | 14.4% | 22.5% | 28.3% |
| Free cash flow margin | 23.4% | 25.7% | 13.7% | 27.3% | 32.0% |
| Cash conversion (CFO ÷ net income) | 6.80x | 59.4x | −0.65x | −0.72x | 1.49x |
| Receivable days | 45 | 42 | 48 | 53 | 56 |
| Payable days | 24 | 39 | 19 | 14 | 5 |
| Debt ÷ equity | – | 89.0x | – | – | 8.42x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 121 | 352 | 313 | 231 | 309 |
| Current ratio | 1.47x | 0.70x | 1.18x | 1.73x | 1.96x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.