GRND · STOCK
Grindr Inc (GRND.US)
Grindr at a Glance
Grindr is the dominant dating and social app for gay and bi men — a niche powerhouse in the fragmented online dating world. With 10M+ monthly active users, it generates $0.4B in trailing twelve-month revenue, up 29% year-over-year, at sky-high 74% gross margins thanks to low capex and a self-serve model blending subscriptions and ads. Insiders own 83% of shares, aligning them tightly with shareholders, but $0.4B in debt and negative equity create balance sheet risks. Network effects lock in its loyal community, yet competition from Tinder and user saturation loom large.
- Market cap
- $2.5B
- Revenue (TTM)
- $439.9M
- Gross margin
- 74.4%
- Operating margin
- 29.5%
- P/E (TTM)
- 31.51
- P/S
- 5.70
- EV/EBITDA
- 19.36
- Beta
- 0.21
- 52-week high
- $25.13
- 52-week low
- $9.73
- Employees
- 160
Grindr: The Niche Leader in LGBTQ+ Dating
Grindr is a location-based social and dating app built exclusively for the LGBTQ+ community, especially gay and bisexual men — think of it as a digital gathering spot where users connect based on proximity and shared interests. This focus on a specific audience sets it apart in the broader dating market, creating a tight-knit network that's grown into a global phenomenon since its founding in 2009. Headquartered in West Hollywood, California, with just 160 employees, Grindr went public via SPAC merger in 2021 and now carries a $2.5B market cap. The business hums with strong fundamentals: trailing twelve-month revenue hit $0.4B, up 29% year-over-year, fueled by hyper-engaged users and a dual revenue model. Gross margins shine at 74.4%, reflecting efficient software operations with minimal capital spending at 0.2% of revenue. Operating margins reached 29.5%, a profitability inflection post-IPO. Yet challenges persist — return on equity sits at -171.5% due to $0.4B in debt against near-zero equity, a hangover from the SPAC deal. Analysts remain bullish, with consensus targets suggesting upside, even after a recent earnings miss; growth forecasts hold at 28.8% for next year. These metrics reveal a high-margin machine in a loyal niche, but the debt load introduces leverage risk — success hinges on sustaining growth to service obligations without diluting shareholders. This tension between operational strength and balance sheet fragility threads through the…