Bumble exhibits high cash conversion efficiency, evidenced by a 34.8% FCF margin in 2026Q1, though capital allocation remains aggressive with historical share repurchases like the $136.2 million spent in 2023Q4.
| Cash from Operations | 284.34M | 250.36M | 123.44M | 182.09M | 132.94M | 104.84M | 2.41B | 101.39M | 71.77M |
| Operating CF Margin % | - | 25.93% | 11.52% | 17.31% | 14.71% | 13.78% | 416.43% | 20.74% | 19.93% |
| Operating CF Growth % | 1334.25% | 102.82% | -32.21% | 36.97% | 26.81% | -95.66% | 2280.23% | 41.28% | - |
| Net Income | -661.37M | -702.37M | -768.37M | -4.21M | -79.75M | 281.74M | -145.47M | 85.84M | -23.67M |
| Depreciation & Amortization | 11.04M | 25.86M | 70.62M | 71.55M | 94.25M | 107.06M | 91.84M | 6.73M | 5.96M |
| Stock-Based Compensation | 37.87M | 31.19M | 26.25M | 0 | 0 | 123.91M | 0 | 2.16M | 255K |
| Deferred Taxes | 19.13M | 17.09M | 5.02M | -7.17M | -5.45M | -447.28M | -763K | -2.17M | -3.36M |
| Other Non-Cash Items | 842.78M | 864.88M | 877.32M | 113.25M | 158.82M | 95.89M | 2.43B | 1.75M | 682K |
| Working Capital Changes | 36.73M | 13.72M | -87.39M | 8.67M | -34.93M | -56.48M | 34.44M | 7.07M | 91.9M |
| Change in Receivables | 34.16M | 15.14M | 5.79M | -36.03M | -20.72M | -9.95M | -6.86M | -5.97M | 68K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.57M | 80.74M |
| Change in Payables | -2.9M | 2.6M | 1.93M | 1.77M | -14M | -3.53M | 15.95M | -252K | 1.13M |
| Cash from Investing | -12.67M | -11.68M | -26.75M | -24.75M | -86.05M | -12.48M | -2.85B | -11.4M | -8.39M |
| Capital Expenditures | -12.67M | -11.68M | -9.32M | -14.94M | -16.33M | -13.65M | -11.68M | -9.67M | -8.05M |
| CapEx % of Revenue | 1.36% | 1.21% | 0.87% | 1.42% | 1.81% | 1.79% | 2.01% | 1.98% | 2.23% |
| Acquisitions | 0 | 0 | 0 | -9.82M | -69.72M | 0 | -2.84B | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -17.43M | 0 | 0 | 1.17M | -2.3M | -1.72M | -347K |
| Cash from Financing | -229.23M | -268.12M | -250.83M | -198.89M | -14.95M | 151.49M | 505.82M | -65.2M | -37.23M |
| Debt Issued (Net) | -30.75M | -30.75M | -5.75M | -5.75M | -5.75M | -206.44M | 865.82M | -41.97M | 0 |
| Equity Issued (Net) | -2.31M | -28.68M | -214.3M | -157.14M | 0 | 366.72M | 0 | 104K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | -360M | -23.36M | -37.23M |
| Share Repurchases | -2.31M | -28.68M | -214.3M | -157.14M | 0 | -1.99B | 0 | 0 | 0 |
| Other Financing | -196.17M | -208.69M | -30.78M | -36M | -9.2M | -8.79M | 0 | 24K | 0 |
| Net Change in Cash | 42.7M | -27.81M | -152.14M | -46.92M | 33.38M | 240.89M | 70.58M | 24.16M | 25.8M |
| Free Cash Flow | 271.67M | 238.68M | 96.69M | 167.15M | 116.61M | 91.18M | 2.4B | 91.72M | 63.72M |
| FCF Margin % | 29.18% | 24.72% | 9.02% | 15.89% | 12.91% | 11.98% | 414.42% | 18.76% | 17.69% |
| FCF Growth % | 75.11% | 146.86% | -42.16% | 43.34% | 27.88% | -96.2% | 2518.56% | 43.94% | - |
| FCF per Share | 2.58 | 2.27 | 0.80 | 1.24 | 0.90 | 0.71 | 21.72 | 0.80 | 0.57 |
| FCF Conversion (FCF/Net Income) | -0.41x | -0.36x | -0.22x | -43.22x | -1.67x | 0.34x | -16.67x | 1.53x | -3.34x |
| Interest Paid | 0 | 0 | 51.6M | 0 | 0 | 22.34M | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 7.25M | 0 | 0 | 33.42M | 0 | 0 | 0 |
Persistent Revenue Contraction
As reported in financial statements, Bumble's OCF/NI ratio has fluctuated wildly, ranging from a negative 2.44 in 2023Q4 to a positive 3.22 in 2025Q1, indicating that reported net income is frequently decoupled from the actual cash-generating capacity of the underlying dating platform operations.
The extreme variance in the conversion ratio suggests that non-cash items, such as the significant goodwill impairments noted in 2025Q4, are distorting the relationship between accounting profit and cash flow. Investors should monitor this divergence, as it implies that net income is an unreliable proxy for the company's ability to fund its own operations.
Based on the provided cash flow data, Bumble has maintained positive FCF margins in most recent quarters, peaking at 34.8% in 2026Q1, which suggests that the business model remains cash-generative even as top-line revenue growth faces persistent downward pressure across its core segments.
The ability to sustain positive free cash flow despite revenue contraction indicates a lean operating structure that can quickly throttle discretionary spending. However, this trajectory warrants further investigation to determine if the current FCF levels are sustainable or merely a result of aggressive cost-cutting that may impair future growth.
According to recent SEC filings, Bumble's CapEx/Rev ratio has remained consistently low, typically hovering between 0.6% and 1.6%, with the notable exception of a 7.0% spike in 2024Q3, reflecting a business model that requires very little physical infrastructure to maintain its digital dating ecosystem.
This low capital intensity is a structural advantage that allows the company to convert a high percentage of operating cash flow into free cash flow. The lack of significant maintenance CapEx suggests that the platform's primary investment needs are focused on software development and marketing rather than heavy asset replacement.
As evidenced by historical cash flow tables, Bumble has utilized significant cash for share repurchases, including $136.2 million in 2023Q4, which appears to be a primary capital allocation priority despite the company's recent struggles to arrest its top-line revenue decline and maintain consistent profitability.
The prioritization of share buybacks over potential reinvestment or debt reduction may indicate management's attempt to support the stock price during periods of operational uncertainty. Investors should monitor whether this capital deployment strategy remains prudent if revenue contraction continues to erode the company's long-term competitive position.
Quick answers to the most common questions about buying BMBL stock.
Bumble Inc. (BMBL) generated $250.4M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Bumble Inc. (BMBL) generated $238.7M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Bumble Inc. (BMBL) spent $11.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Bumble Inc. (BMBL) spent $28.7M on share repurchases. This shows the company's commitment to returning capital to its equity investors.