Grindr(NYSE) GRND

Grindr Inc. NYSE:GRND connects LGBTQ people with others nearby. The app lets users chat and share media. Paying members receive extra features and more control.

Digital Spaces for the Community

• App-based Revenue: Subscription fees for XTRA and Unlimited tiers; represents 82.0% of revenue for the three months ended June 30, 2026.
• Advertising Revenue: Direct and third-party ad sales sold on a cost per mille (CPM) basis, which is the price per 1,000 ad views; represents 18.0% of revenue for the three months ended June 30, 2026.
• Consumables: Pay-per-use features that provide short-duration access to specific tools within the mobile application.

Building the Global Gayborhood

• Redeemed all outstanding public and private warrants in Feb. 2025 to simplify the capital structure.
• Introduced Grindr AI, a technical foundation used to develop machine learning and data models for users.
• Expanded pricing experiments to a larger share of the subscriber base in key international markets during 2026.
• Increased the stock repurchase program by $400 million in Feb. 2026 and extended it to March 2029.

Network Effects and Global Scale

The platform relies on word-of-mouth referrals and its first-mover advantage to maintain a large user network. As of June 30, 2026, the service operates in over 190 countries and territories.

Growth by the Numbers

• Revenue was $268.1 million in the six months ended June 30, 2026, up 35.3% year over year.
• Net income was $44.5 million in the six months ended June 30, 2026, up 1.8% year over year.
• Average Paying Users reached 1.4 million in the three months ended June 30, 2026, up 16.1% year over year.
• Adjusted EBITDA was $116.1 million in the six months ended June 30, 2026, up 35.2% year over year.
• Average App-Based Revenue per Average Paying User was $26.51 in the three months ended June 30, 2026, up $2.86 year over year.

Evolution of the Platform

Grindr has transitioned from a basic chat tool into a diversified social network. Its focus on subscription monetization and machine learning integration supports its specialized market position.