INVESTOPEDIA – Bumble shares surged ~20% after the company announced it will cut 30% of its workforce (~240 jobs), to streamline operations and save up to $40M annually. The company expects $13–$18M in restructuring costs and raised its Q2 revenue forecast to $244 – $249M, with adjusted EBITDA now projected at $88–$93M. Despite the rally, Bumble stock remains down ~20% year-to-date.
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Summarized by the Courtland Brooks team