Grindr Inc. (GRND)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$509.8M

Revenue growth

32.4%

Net income, last twelve months

$95.6M

Earnings per share

$0.50

Gross margin

74.9%

Operating margin

29.8%

Net margin

18.7%

Free cash flow

$154.0M

Market value

$2.3B

Price to earnings

25.9x

Cash

$6.5M

Debt

$386.3M

Shares outstanding

173.8M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter 2026 results, filed 6 August 2026.

• Revenue rose 33% to $138 million. Revenue was $138.1 million, up from $104.2 million a year earlier. Six-month revenue was $268.1 million against $198.2 million a year earlier.
• Net income margin fell to 13%. Net income was $18 million, a 13% margin, against 16% a year earlier. Diluted EPS was $0.10, against $0.08 in the second quarter of 2025.
• Revenue growth came from engagement. Management attributed the quarter to user engagement with product enhancements, higher conversion rates, AI-driven engineering productivity and cultural activations.
• App-based revenue rose 30%. App-based revenue rose to $113 million from $87 million, with growth from sustained demand for XTRA and Unlimited subscription tiers and from consumables.
• Advertising revenue rose 44%. Advertising revenue rose to $25 million from $17 million, with growth from third-party advertising partnerships and a large, year-long brand campaign.
• Right Now broadened in core app. Right Now is being broadened to allow more flexibility and less friction, and to fit more naturally into the core app, with more proactive marketing alongside it.
• Edge branding and positioning work. Q2 work on Edge focused on refining branding, packaging and positioning from user testing. Management called premium packaging and marketing a new capability for Grindr.
• Spammers and bad actors removed. The company removed a significant number of spammers and other bad actors engaging in illegal behavior this quarter, and uses in-house AI and ML to monitor and suppress illegal behavior.
• Madonna partnership embedded in app. The partnership was built into the app over three months through artist integrations, in-app experiences and notifications, and included a June takeover of Times Square.
• Madonna results and user engagement. Management described the results as exceptional and said the user base engaged with Madonna content inside the app globally.
• More partnerships expected. Management said this partnership will not be the last, and that the company is not moving away from its core business.
• Operating income rose to 24%. Operating income was $33 million, or 24% of revenue, against $24 million, or 23% of revenue in the second quarter of 2025.
• Operating expenses rose to $71 million. Operating expenses excluding cost of revenue were $71 million, up from $53 million, partly from higher one-time marketing for the Madonna partnership.
• Adjusted EBITDA was 42% of revenue. Adjusted EBITDA was $58 million, or 42% of revenue, against $45 million, or 43%, in the second quarter of 2025.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 62 held.

Every filing

The newest filings with the SEC of 165 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

200 funds held it at 30 Jun 2026: 89 added and 56 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Alphabet Inc. (GOOGL): revenue $445.9B, market value $3.98T
• Alphabet Inc. (GOOG): revenue $445.9B, market value $3.94T
• Meta Platforms, Inc. (META): revenue $241.6B, market value $1.58T
• AppLovin Corp. (APP): revenue –, market value $87.2B
• Zoom Communications, Inc. (ZM): revenue $5.0B, market value $30.1B
• Baidu, Inc. (BIDU): revenue $18.0B, market value $27.1B
• Tempus AI, Inc. (TEM): revenue $1.4B, market value $14.0B
• Flutter Entertainment plc (FLUT): revenue $17.2B, market value $13.6B
• Pinterest, Inc. (PINS): revenue $4.6B, market value $11.8B
• DigitalOcean Holdings, Inc. (DOCN): revenue $1.0B, market value $11.0B

What the company does

Grindr Inc. manages and operates the Grindr platform, a global social networking platform primarily serving gay, bisexual, and sexually explorative adults. The company had 15.0 million Average MAUs (monthly active users) and 1.3 million Average Paying Users in 2025. It has users in over 190 countries and territories, and the platform supports 21 languages. The app is free to download, and the company earns money from paid subscriptions and from advertising. Its headquarters are in West Hollywood, California.

What the app does

The Grindr platform is primarily a mobile application, with some uses available on the web after an account is created. It uses location-based features that let users find one another nearby or anywhere in the world. Users can create a profile and photos, search and filter other profiles, chat, share media, and use an interactive map. Users look for casual dating, long-term relationships, friendships, professional networking, travel information, and local discovery. Safety tools run across the app. The company says its mission is to build the "Global Gayborhood in Your Pocket."

How it makes money

The company has two revenue streams. Direct revenue came to 83.3% of total revenue in 2025. It comes from users who pay for subscriptions or add-ons. The current subscription offerings are Grindr XTRA and Grindr Unlimited, sold in one-week, one-month, three-month, six-month, and twelve-month periods. Customers pay in advance, mostly through the Apple and Google Play app stores. Premium add-ons are sold pay-per-use and are generally used within one day. A paying user is someone who has bought or renewed a subscription or bought an add-on, and Average Paying User Penetration was 8.4% of Average MAUs.

Indirect revenue was 16.7% of total revenue. It comes from third parties who pay to advertise to Grindr users, through in-app banners, full-screen interstitials, and other custom units, typically sold on a cost per mille basis. The company also contracts with third-party advertising platforms to sell its ad inventory. Advertisers come from healthcare, entertainment, gaming, travel, and consumer goods. The main costs of running the business are the distribution fees paid to Apple and Google Play, infrastructure costs that stem largely from Amazon Web Services, and content moderation.

Where it operates

International revenues were 42.2% of total revenue. International businesses typically earn revenue in local currencies, and the company varies its pricing to match the value of local competitors. The company says its user growth has been driven mainly by word of mouth and other organic means. Its marketing focuses on content, owned channels, cultural partnerships, and events. Its target market is the worldwide LGBTQ community.

Beyond the core app

In May 2025 the company launched Woodwork by Grindr, its first "gayborhood expansion" initiative, in health and wellness. Woodwork is a telehealth subscription service that helps eligible patients get certain treatments and prescription medications, including compounded medications. OpenLoop Health Inc. and its affiliated practices provide clinical support. Woodwork has been offered as cash-pay only. It falls under rules from the U.S. Food and Drug Administration, state pharmacy boards, and state laws on the practice of medicine. The company also says it is exploring travel, events, lifestyle, and media.

In 2025 the company began testing Edge, a premium AI-native product tier. It is also building a technical foundation it calls Grindr AI, or gAI, which has a data model layer, a technical architecture layer, and a consumer application layer.

Grindr for Equality

Grindr for Equality has run since 2015 as the company's social impact initiative. Its priorities are HIV prevention, testing, and treatment, marriage equality, and in-app campaigns on health, safety, and human rights. Users can order free HIV self-test kits through the app, and the program has distributed over 500,000 kits. In 2025 the company partnered with 185 community organizations to run more than 1,200 campaigns at no cost across 71 countries, delivering 40 million impressions in 40 languages. The Grindr Community Support ecosystem lists resources in 51 countries. A government affairs team also advocates on health and civil rights issues, including funding for the President's Emergency Plan for AIDS Relief.

People, technology and rules

The company had 165 employees at 31 December 2025, and 160 of them were full-time. It also uses contractors, including a dedicated team in Colombia of 29 full-time engineers. Besides West Hollywood, it has offices in the San Francisco Bay Area, Chicago, and New York City. Employees work two days per week in the offices where their teams are based.

Content moderation has three parts: automated review, manual review by a dedicated team, and reports from users through in-app tools. The company holds patents that expire in 2031. It is subject to privacy laws including the California Consumer Privacy Act, the European Union's General Data Protection Regulation, and the UK GDPR.

*From Grindr's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1820144/000182014426000007/grnd-20251231.htm)*

From the company's 10-K.