Direct Revenue GrowthGrindr reported 27% y/y revenue growth in 2Q, roughly in line with estimates as lower than expected Direct revenue growth was offset by robust advertising growth.
Revenue DependencyIndirect revenue, largely made up of advertising, grew ~40% y/y to $17MM, ahead of estimates, indicating dependency on advertising for revenue increases.
User TrendsMAUs grew 6% y/y & 2% q/q amid healthy trends among younger users, suggesting potential challenges in attracting a broader demographic.