Bumble's revenue growth has consistently trended downward, culminating in a 14.1% year-over-year decline by 2026Q1, despite maintaining structural gross margins within a tight 69.6% to 74.2% range.
Bumble Inc. (BMBL) annual income statement — 8-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 |
|---|
| Sales/Revenue | 893.24M | 965.66M | 1.07B | 1.05B | 903.5M | 760.91M | 582.18M | 488.94M | 360.11M |
| Revenue Growth % | -13.33% | -9.89% | 1.88% | 16.42% | 18.74% | 30.7% | 19.07% | 35.78% | - |
| Cost of Goods Sold | 256.41M | 306.46M | 388.48M | 375.86M | 339.2M | 312.23M | 249.59M | 146.5M | 110.26M |
| COGS % of Revenue | - | 31.74% | 36.25% | 35.73% | 37.54% | 41.03% | 42.87% | 29.96% | 30.62% |
| Gross Profit | 636.83M | 659.2M | 683.16M | 675.97M | 564.3M | 448.68M | 332.59M | 342.44M | 249.85M |
| Gross Margin % | 71.29% | 68.26% | 63.75% | 64.27% | 62.46% | 58.97% | 57.13% | 70.04% | 69.38% |
| Gross Profit Growth % | - | -3.51% | 1.06% | 19.79% | 25.77% | 34.91% | -2.88% | 37.06% | - |
| Operating Expenses | 558.81M | 404.96M | 425.14M | 630.75M | 556.16M | 478.54M | 344.45M | 249.19M | 266.06M |
| OpEx % of Revenue | - | 41.94% | 39.67% | 59.97% | 61.56% | 62.89% | 59.16% | 50.96% | 73.88% |
| Selling, General & Admin | 266.24M | 303.52M | 334.46M | 500.19M | 457.59M | 372.63M | 293.37M | 209.98M | 222.59M |
| SG&A % of Revenue | - | 31.43% | 31.21% | 47.55% | 50.65% | 48.97% | 50.39% | 42.95% | 61.81% |
| Research & Development | 119.42M | 115.06M | 90.68M | 130.56M | 98.58M | 105.92M | 51.08M | 39.2M | 37.52M |
| R&D % of Revenue | - | 11.91% | 8.46% | 12.41% | 10.91% | 13.92% | 8.77% | 8.02% | 10.42% |
| Other Operating Expenses | 1000K | -13.62M | 0 | 0 | 0 | 0 | 0 | 0 | -4.43M |
| Operating Income | 78.02M | 254.24M | 258.02M | 45.21M | 8.14M | -29.86M | -11.86M | 93.25M | -16.21M |
| Operating Margin % | 8.73% | 26.33% | 24.08% | 4.3% | 0.9% | -3.92% | -2.04% | 19.07% | -4.5% |
| Operating Income Growth % | - | -1.47% | 470.68% | 455.72% | 127.25% | -151.78% | -112.72% | 675.14% | - |
| EBITDA | 95.96M | 509.09M | 600.04M | 116.76M | 102.39M | 82.63M | 79.98M | 100.94M | -10.26M |
| EBITDA Margin % | 10.74% | 52.72% | 55.99% | 11.1% | 11.33% | 10.86% | 13.74% | 20.64% | -2.85% |
| EBITDA Growth % | -69.28% | -15.16% | 413.91% | 14.04% | 23.91% | 3.32% | -20.76% | 1084.1% | - |
| D&A (Non-Cash Add-back) | 17.95M | 254.86M | 342.02M | 71.55M | 94.25M | 112.49M | 91.84M | 7.69M | 5.96M |
| EBIT | 73.55M | 254.24M | 258.02M | 45.21M | 8.14M | -29.86M | -11.86M | 93.25M | -16.21M |
| Net Interest Income | -41.96M | -42.45M | -39.95M | -21.53M | -24.06M | -24.57M | -152K | 202K | 4K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 50K | 202K | 4K |
| Interest Expense | 41.96M | 42.45M | 39.95M | 21.53M | 24.06M | 24.57M | 202K | 0 | 0 |
| Other Income/Expense | -670.62M | -1.12B | -1B | -39.91M | -118.85M | -126.24M | -122.39M | -1.27M | -4.42M |
| Pretax Income | -592.6M | -860.98M | -745.25M | 5.3M | -110.72M | -156.1M | -134.25M | 91.98M | -20.64M |
| Pretax Margin % | -66.34% | -89.16% | -69.54% | 0.5% | -12.25% | -20.51% | -23.06% | 18.81% | -5.73% |
| Income Tax | 42.17M | 34.37M | 23.13M | 7.17M | 3.41M | -437.84M | 8.49M | 6.14M | 3.03M |
| Effective Tax Rate % | -7.12% | -3.99% | -3.1% | 135.23% | -3.08% | 280.49% | -6.32% | 6.67% | -14.69% |
| Net Income | -526.92M | -693.14M | -557.01M | -4.21M | -79.75M | 309.81M | -145.47M | 66.15M | -21.52M |
| Net Margin % | -58.99% | -71.78% | -51.98% | -0.4% | -8.83% | 40.72% | -24.99% | 13.53% | -5.98% |
| Net Income Growth % | 37.96% | -24.44% | -13121.17% | 94.72% | -125.74% | 312.98% | -319.92% | 407.38% | - |
| Net Income (Continuing) | -634.77M | -895.35M | -768.37M | -1.87M | -114.12M | 281.74M | -142.74M | 85.84M | -23.67M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 100.56M | 109.51M | 524.52M | 702.26M | 825.76M | 861.57M | 808K | 6.01M | -8.32M |
| EPS (Diluted) | -4.02 | -5.95 | -4.61 | -0.03 | -0.62 | 2.40 | -1.26 | 0.57 | -0.19 |
| EPS Growth % | 47.29% | -29.07% | -14675.64% | 94.97% | -125.83% | 290.48% | -321.05% | 400% | - |
| EPS (Basic) | - | -5.95 | -4.61 | -0.03 | -0.62 | 2.40 | -1.26 | 0.57 | -0.19 |
| Diluted Shares Outstanding | 131.02M | 110.13M | 120.82M | 134.94M | 129.42M | 129.21M | 115.34M | 115.34M | 111.68M |
| Basic Shares Outstanding | 131.02M | 110.13M | 120.82M | 134.94M | 129.42M | 129.21M | 115.34M | 115.34M | 111.68M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | 35.31% | - |
Quick answers to the most common questions about buying BMBL stock.
For fiscal year 2025, Bumble Inc. (BMBL) reported total revenue of $965.7M. This represents a 168.2% increase compared to $360.1M in 2018.
Bumble Inc. (BMBL) reported a net loss of $693.1M for the fiscal year ending 2025.
Bumble Inc. (BMBL) reported an operating income of $254.2M, resulting in an operating profit margin of 26.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Bumble Inc. (BMBL) generated $659.2M in gross profit for the year, representing a gross profit margin of 68.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent Revenue Contraction
Metrics are mathematically derived from official filings.
Persistent Revenue Contraction Trends
As reported in recent financial filings, Bumble's revenue growth has consistently trended downward, culminating in a 14.1% year-over-year decline by 2026Q1, which suggests that the platform is struggling to maintain its user base and monetization momentum in an increasingly saturated and competitive digital dating market.
The consistent negative revenue growth over the last several quarters indicates that the company's core value proposition may be losing resonance with its target demographic. Investors should monitor whether this contraction reflects a structural shift in user behavior or merely a temporary lull in marketing efficacy.
Structural Gross Margin Stability
Based on the provided income statement data, Bumble has maintained gross margins within a tight 69.6% to 74.2% range, suggesting that despite top-line volatility, the underlying cost structure remains anchored by the relatively fixed nature of app store distribution fees and platform-related service costs.
This stability in gross margins implies that the company possesses limited ability to optimize its primary cost of goods sold, as these are largely dictated by third-party platform providers. Any meaningful expansion in profitability would likely require a fundamental change in these external fee structures rather than internal operational improvements.
Operating Leverage Under Pressure
According to the latest quarterly results, Bumble's operating income has shown significant volatility, with operating margins swinging from 31.6% in 2026Q1 to deep negative territory in previous periods, indicating that the company is currently failing to achieve consistent operating leverage as revenue continues to decline.
The inability to scale operating income alongside gross profit suggests that SG&A expenses remain stubbornly high relative to the shrinking revenue base. This lack of operating leverage warrants further investigation into whether management can effectively right-size the cost structure to match the current lower-growth reality.
Earnings Obscured by Impairments
As evidenced by the massive net loss of $490.2 million in 2025Q4, Bumble's reported net income is frequently distorted by significant non-cash charges, which complicates the assessment of true operational profitability and suggests that historical acquisitions may not be delivering the anticipated long-term economic value.
The wide variance between operating income and net income highlights the impact of non-recurring items, likely related to goodwill impairments or intangible asset write-downs. Analysts should focus on adjusted metrics that strip out these non-cash events to better understand the underlying cash-generating capability of the business.