PRESS RELEASE – Grindr reported a revenue of $55.8M, up 28% YOY. Gross profit grew to $41M, up 29% from the prior year. However, operating expenses increased by $9.4M, and operating income was $8.6M. The net loss for Q1 was $32.9M, primarily due to factors such as loss on fair value measurement, an income tax provision, and net interest expense. The Average Paying Users increased by 20% YOY, and the Average MAU reached 12.8M, a 9% growth.
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