Grindr (GRND) Q3 2026 Earnings Report

The call was strongly positive, with robust third-quarter revenue and Adjusted EBITDA growth, raised 2026 guidance, performance ahead of prior Investor Day targets, substantial early demand for Edge, and a completed Freddie acquisition offering significant growth potential. The company also outlined clear 2027 priorities and maintained a projected Adjusted EBITDA margin of at least 39%. Offsetting factors included a GAAP net loss caused by a historical litigation settlement and transaction costs, a year-over-year decline in Adjusted EBITDA margin, expected moderation in advertising mix and growth, operational requirements to scale Freddie, limited visibility into some 2027 product drivers, and stated AI-related risks. Highlights significantly outweighed the lowlights.

For full year 2026, Grindr raised guidance to at least $560 million in revenue and at least $236 million in Adjusted EBITDA, with advertising revenue expected to be in the mid to high teens as a percentage of total revenue before normalizing back to the near historical 15% range. For 2027, it expects total revenue of at least $705 million, approximately 26% in implied top-line growth, and Adjusted EBITDA of at least $275 million, implying an Adjusted EBITDA margin of at least 39%, within the 39%-42% Investor Day margin framework; Freddie is expected to make a negligible contribution in the fourth quarter of 2026, while advertising is expected to moderate to 15%-16% of total revenue. Edge launches at $120 a month, with a long-term $100 million-$150 million opportunity, a hard cap of no more than 1% of MAU for now, and a goal of 20%-30% of that opportunity in the first year; Freddie is expected to reach approximately 12,000 U.S. patients at the end of the year and 50,000 over the medium term, with more than $4,800 in revenue per patient per year, approximately $240 million in annual revenue, and Adjusted EBITDA margins of 40% or higher in the medium term, or nearly $100 million in annual Adjusted EBITDA.