Grindr Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Grindr Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2021	FY2022	FY2023	FY2024	FY2025
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 and development	10.9	17.9	29.3	32.8	48.9
Selling, general and administrative	30.6	75.3	80.4	115	143
Operating expenses	1.76
Operating income	23.7	13	55.4	92.6	126
Interest income	0.09
Other non-operating income	-17.4	-13	-107	-211	-7.68
Pre-tax income	6.3	-0.01	-51.7	-118	119
Income tax	1.24	-0.86	4.02	12.7	23.9
Net income	5.06	0.85	-55.8	-131	94.8
EBITDA	66.9	50.5	82.5	110	135
EPS, basic	0.03	0.01	-0.32	-0.74	0.45
EPS, diluted	0.03	0.01	-0.32	-0.74	0.43
Shares, basic (weighted)	153	158	174	176	190
Shares, diluted (weighted)	153	159	174	176	195

Balance sheet

	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	15.8	8.73	27.6	59.2	87
Receivables	17.9	22.4	33.9	49.6	67.9
Other current assets	3.31	0.75	2.41	1.68	1.27
Total current assets	43.9	43.2	71.8	117	166
Property, plant and equipment	2.37	2.02	1.58	1.67	1.15
Lease right-of-use assets	0	4.54	3.36	3.05	4.72
Goodwill	259	276	276	276	276
Intangible assets	140	105	82.3	69.9	65.8
Other non-current assets	0.08	0.06	1.05	1.21	2.3
Total assets	450	439	445	479	531
Accounts payable	2.44	5.44	3.53	3.26	1.67
Accrued liabilities	0.56
Deferred revenue	20.1	18.6	19.2	20	24.3
Short-term debt	3.84	22.2	15	15	20
Total current liabilities	29.9	61.9	60.6	67.8	84.9
Long-term debt	133	338	326	276	376
Lease liabilities	0	3.66	2.24	0.96	2.57
Other non-current liabilities	2.41	0.33	2.12	14.1	19.3
Total liabilities	186	435	463	611	484
Total debt	137	361	341	291	396
Paid-in capital	269	9.08	44.7	74.5	144
Retained earnings	-5.9	-5.04	-60.8	-192	-97.1
Treasury stock		0	-2.15	-14.3	0
Shareholders' equity	-36.2
Total equity	263	4.05	-18.3	-132	47
Total liabilities and equity	450	439	445	479	531
Shares outstanding	156	174	175	177	185

Cash flow statement

	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	5.06	0.85	-55.8	-131	94.8
Depreciation and amortization	43.2	37.5	27	16.9	8.86
Stock-based compensation	2.6	28.4	15.8	37.3	54.5
Deferred income tax	-4.31	-11.2	-7.98	-5.91	2.63
Change in receivables	-6.11	-4.83	-11.9	-15	-18.3
Change in payables	1.85	1.8	-0.71	-0.46	-1.88
Cash from operations	34.4	50.6	36.1	95	142
Capital expenditures	-0.27	-0.43	-0.51	-0.95	-0.75
Purchases of investments	-5.52
Sales and maturities of investments	0
Cash from investing	-3.8	-5.59	-4.23	-5.35	-8.62
Debt issued	0	231	344	0	415
Debt repaid	-56.6	-3.48	-367	-50.8	-309
Stock issued	0	5.18	0	4.02	1.72
Share buybacks			0	0	-451
Cash from financing	-56.2	-52.1	-13	-58.9	-105
Net change in cash	-25.6	-7.05	18.9	30.8	27.9
Free cash flow	34.2	50.2	35.6	94	141
Interest paid	22.8	18.1	47.9	26	20.1
Income taxes paid	9.51	2.24	17.7	17.4	21.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $15.77 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	74.9%	Gross profit / revenue.
Operating margin	29.8%	Operating income / revenue.
EBITDA margin	30.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.4%	Pre-tax income / revenue.
Net margin	18.7%	Net income / revenue.
FCF margin	30.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	30.3%	Cash from operations / revenue.
Effective tax rate	23.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	20.7%	Net income / average total assets.
R&D / revenue	12.1%	Research and development expense / revenue.
SG&A / revenue	32.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	12.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.1%	Capital expenditures / revenue.
D&A / revenue	0.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	27.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	31.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	27.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	31.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	36.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	113.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	23.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	38.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 3y	380.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y	250.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	49.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	40.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	49.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	41.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	10.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	11.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	7.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.10x	Current assets / current liabilities.
Quick ratio	0.90x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.08x	(Cash + short-term investments) / current liabilities.
Debt / assets	83.5%	Total debt / total assets.
Liabilities / assets	102.5%	Total liabilities / total assets.
Net debt	$379.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.44x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$8.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	73.8%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.10x	Revenue / average total assets.
Fixed asset turnover	649x	Revenue / average property, plant and equipment.
Receivables turnover	7.32x	Revenue / average receivables.
Days sales outstanding	50 days	365 x average receivables / revenue.
Days payables	9 days	365 x average accounts payable / cost of revenue.
FCF conversion	161.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	0.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.53	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.85	Revenue / diluted weighted shares.
FCF per share	$0.86	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.86	Cash from operations / diluted weighted shares.
Cash per share	$0.04	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	103.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.74B	Share price x shares outstanding.
Enterprise value	$3.12B	Market cap + total debt - cash - short-term investments.
P/E	28.7x	Market cap / net income. Only when net income is positive.
P/S	5.38x	Market cap / revenue.
P/FCF	17.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	17.7x	Market cap / cash from operations, when positive.
EV/Sales	6.12x	Enterprise value / revenue.
EV/EBIT	20.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	20.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	20.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.6%	Free cash flow / market cap.
Earnings yield	3.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.8%	(Dividends paid + share buybacks) / market cap.
PEG	0.11x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Grindr Inc.'s revenue in fiscal 2025?

Grindr Inc. reported revenue of $439.9M for fiscal 2025, 27.6% higher than the year before.

Was Grindr Inc. profitable in fiscal 2025?

Yes. Net income was $94.8M, a net margin of 21.5%.

How much free cash flow did Grindr Inc. generate in fiscal 2025?

Cash from operations of $141.5M minus capital expenditures of $746.0K left free cash flow of $140.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Grindr Inc.