Grindr Inc GRND

Communication ServicesSoftware & IT ServicesUnited States of America

Last close 12.65 USD on Nov 1, 2026, −6.6% year to date

Quant rating

Quant rating C Rank 66 of 135 in Communication Services

Growth D 102 of 135
Valuation B 40 of 135
Quality B 32 of 135
Revisions B 46 of 135
Momentum C 90 of 135

Wall Street consensus Buy (2.00)Average target 20.37 USD +61.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.2B
Enterprise value: 2.6B
52-week range: 9.75 – 18.48
3-year range: 5.78 – 24.73
Dividend yield: –
Beta (5 years): 0.20
Shares outstanding: 174M
Next earnings: Nov 5, 2026

About the company

Grindr Inc. manages and operates the Grindr platform, which a global social networking platform primarily serving and addressing the needs of gay, bisexual, and sexually explorative adults. The Company is developing new products for users to engage with the Grindr platform, which include new partnership-based digital versions of services typically found in physical gayborhoods. Its platform enables GBTQ adults to connect with one another. Its platform helps its users find what they are looking for: casual dating, long-term relationships, community and friendships, professional networking, travel information and local discovery. The Grindr platform offers a variety of location-based social features and functions, including identity expression (profile, photos, presence); connection (search, filters, the Cascade, Viewed Me); and interaction (chat, media sharing); with trust and safety tools across the experience, and subscriptions for premium features offering further access and control.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	440	345	260	195	146	–
Revenue growth	27.6%	32.7%	33.2%	33.7%	39.6%	33.3%
EPS (basic, normalized)	0.43	−0.74	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	74.4%	74.6%	74.0%	73.7%	74.4%	74.2%
Net margin	21.5%	−38.0%	−21.5%	0.4%	3.5%	−6.8%
ROE	–	–	–	0.6%	1.9%	1.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	6.5
Current ratio	1.10x
Long-term debt (mil)	366
Net debt (mil)	380
Total equity (mil)	−11.7
Net debt / equity	−32.36x
Net debt / EBITDA	1.94x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	440	+27.6%	5.9x	196	+32.5%	13.2x	0.43	+158.1%	29.4x
2026	543	+23.4%	4.8x	232	+18.8%	11.1x	0.51	+17.4%	25.0x
2027	636	+17.1%	4.1x	270	+16.1%	9.6x	0.68	+34.7%	18.6x
2028	743	+16.9%	3.5x	316	+17.3%	8.2x	0.85	+24.6%	14.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	543	−0.1%	+1.0%	+2.2%	0.51	+1.5%	−14.0%	−8.2%
2027	636	−0.2%	+1.0%	+2.3%	0.68	+1.2%	−6.2%	−1.7%
2028	743	0.0%	+3.2%	+5.2%	0.85	+1.5%	−5.1%	−1.7%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	75.3	82.3	89.3	97.6	93.9	104	116	126	130	138
Sales mean (mil)	72.7	78.0	86.3	95.3	95.4	105	113	122	119	134
Surprise	+3.6%	+5.6%	+3.5%	+2.4%	−1.5%	−0.5%	+2.1%	+3.2%	+8.9%	+3.0%
EPS reported	−0.05	−0.13	0.09	−0.70	0.09	0.08	0.16	0.10	0.14	0.10
EPS mean	0.04	0.05	0.07	0.09	0.08	0.10	0.12	0.12	0.12	0.13
Surprise	−225.0%	−360.0%	+28.6%	−907.7%	+8.0%	−22.0%	+33.3%	−18.4%	+12.9%	−21.6%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
GRND Grindr Inc	2.2B	1.94x	21.5%	−187.33x	25.0x	18.6x	11.1x	9.6x
GOOGL Alphabet Inc.	3.43T	−0.67x	32.8%	5.08x	14.1x	18.6x	14.3x	10.9x
META Meta Platforms, Inc.	1.60T	0.01x	37.1%	5.77x	21.3x	18.2x	11.4x	8.9x
NFLX Netflix, Inc.	254.9B	0.49x	24.3%	8.70x	17.3x	16.5x	15.3x	13.3x
UBER Uber Technologies, Inc.	133.3B	0.96x	19.3%	4.87x	19.8x	14.4x	12.7x	10.3x
SPOT Spotify Technology S.A.	122.0B	−3.72x	12.9%	13.04x	44.7x	34.7x	32.5x	24.9x
Mean		−0.16x	24.7%	−24.98x	23.7x	20.2x	16.2x	13.0x
Median		0.25x	22.9%	5.42x	20.5x	18.4x	13.5x	10.6x

Technical analysis

1M−19.0%
3M−23.8%
1Y−10.0%
3Y+115.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Grindr Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	440	345	260	195	146	104
Cost of revenue	113	87.6	67.5	51.3	37.4	31.4
Gross profit	327	257	192	144	108	73.0
Selling, general & administrative expenses	143	115	80.4	75.3	30.6	31.3
Research & development	48.9	32.8	20.0	17.9	10.9	14.4
Depreciation/amortization	8.9	16.9	25.7	36.8	43.2	28.3
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0	0	22.2	0.7	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	126	92.6	43.9	13.0	23.7	−0.9
Net interest income (expense)	−17.6	−25.6	−46.0	−31.5	−18.7	−14.8
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	10.0	−185	−49.6	18.5	1.3	0.1
Net income before taxes	119	−118	−51.7	0	6.3	−15.6
Provision for taxes	23.9	12.7	4.0	−0.9	1.2	−2.6
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	94.8	−131	−55.8	0.9	5.1	−13.1
Extraordinary items	–	–	–	–	–	–
Net income	94.8	−131	−55.8	0.9	5.1	−13.1
EBIT, normalized	132	93.8	68.6	13.7	28.4	10.4
EBITDA, normalized	141	111	94.3	50.5	71.7	38.7
Basic EPS, normalized	0.43	−0.74	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Grindr Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	87.0	59.2	27.6	8.7	15.8	41.4
Receivables	67.9	50.2	35.4	22.4	21.2	11.8
Total inventory	–	–	–	–	–	–
Prepaid expenses	5.1	2.7	4.2	7.6	2.3	1.9
Other current assets	5.9	4.9	4.5	4.4	4.6	3.3
Total current assets	166	117	71.8	43.2	43.9	58.4
Property, plant & equipment	5.9	4.7	4.9	6.6	2.4	2.9
Goodwill	276	276	276	276	259	259
Intangibles	78.8	78.6	89.8	112	143	182
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	4.6	3.1	2.4	1.5	1.5	1.5
Total assets	531	479	445	439	450	504
Liabilities
Accounts payable	1.7	3.3	3.5	5.4	2.4	0.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	35.7	27.6	21.5	15.7	3.5	11.0
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	20.0	15.0	15.0	22.2	3.8	56.3
Other current liabilities	27.6	21.9	20.6	18.6	20.1	13.5
Total current liabilities	84.9	67.8	60.6	61.9	29.9	81.4
Long-term debt	376	276	326	338	133	138
Minority interest	–	–	–	–	–	–
Other liabilities	23.2	267	76.6	34.4	23.3	28.3
Total liabilities	484	611	463	435	186	247
Shareholders' equity
Preferred stock	0	0	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	144	74.5	44.7	9.1	269	267
Retained earnings (accumulated deficit)	−97.1	−192	−60.8	−5.0	−5.9	−11.0
Treasury stock	0	−14.3	−2.2	–	–	–
Other equity	0	0	0	0	0	0
Total equity	47.0	−132	−18.3	4.1	263	256
Total liabilities & shareholders' equity	531	479	445	439	450	504

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Grindr Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	94.8	−131	−55.8	0.9	5.1	−13.1
Depreciation, depletion & amortization	8.9	16.9	27.0	37.5	43.2	28.3
Deferred taxes	2.6	−5.9	−8.0	−11.2	−4.3	−5.5
Non-cash items	48.5	224	80.2	21.1	1.4	5.7
Changes in working capital	−13.2	−8.8	−7.3	2.5	−10.9	10.7
Cash from operations	142	95.0	36.1	50.6	34.4	26.1
Investing activities
Capital expenditures	−8.6	−5.3	−4.2	−5.6	−3.8	−2.8
Other investing cash flows	0	0	0	0	0	−262
Cash from investing	−8.6	−5.3	−4.2	−5.6	−3.8	−264
Financing activities
Financing cash flow items	−26.7	−12.1	−12.0	−189	−1.0	106
Cash dividends paid	–	–	0	−196	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−78.3	−46.8	−1.0	333	−55.3	194
Cash from financing	−105	−58.9	−13.0	−52.1	−56.2	300
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	27.9	30.8	18.9	−7.1	−25.6	61.3
Free cash flow	133	89.6	31.9	45.1	30.6	23.2

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.