Recent News
Nov 24–26, 2025: Negotiations to take Grindr private at ~$18 per share ended after the special committee cited financing uncertainty; the buyout proponents subsequently withdrew the bid. Dec 16, 2025: Company expanded and extended its credit facility, increasing total capacity and maturity. Feb 2–3, 2026: Grindr announced Olympic-specific privacy and safety measures for LGBTQ+ athletes at the 2026 Winter Games. Feb 16, 2026: A former board chair disclosed sales of shares following the collapse of buyout talks.
Technical Analysis
ADX: ADX at 44.92 indicates a very strong trend in place; such strength increases the potential for a decisive directional move over the near term and raises the risk of extended momentum in the prevailing direction.
DI+/DI-: DI+ shows an increasing trend while DI- shows a decreasing trend, signaling that downward pressure has eased and directional strength is shifting toward buyers; that shift aligns with an expectation for short-term upside attempts against the stock’s over-valued backdrop.
MACD: MACD equals -0.66 while the MACD trend increases and the signal line sits at -0.63; negative but rising MACD indicates bearish momentum has begun to abate and bullish momentum is developing, although a confirmed MACD crossover above the signal line has not yet occurred.
MRO (Momentum/Regression Oscillator): MRO at -29.18 (and decreasing) places price below the calculated target, implying a material offset that typically precedes a move higher toward fair value; the magnitude suggests notable upside potential if momentum flips.
RSI: RSI at 34.63 with an increasing trend points toward a near-oversold rebound setup; upward RSI momentum supports a short-term bounce scenario while remaining below neutral range.
Price vs. Moving Averages & Ichimoku: Last close at $10.42 sits below the 20-day average ($10.60), 50-day ($12.41) and 200-day ($16.57), and below the Ichimoku Tenkan (10.87) and Kijun (11.54), indicating the broader bias remains bearish despite short-term recovery signals.
Bollinger & Support: Price trades near the lower Bollinger band (1× lower $9.96), suggesting limited downside bandwidth in the immediate session but confirming vulnerability to renewed selling if support breaks. SuperTrend upper at $10.91 currently acts as nearby resistance.
Volume & Volatility: Today’s volume (1,140,592) runs below recent averages (10-day ~1.91M; 200-day ~1.97M), which reduces conviction in any single-session breakout; 42-day volatility equals 2% and 52-week volatility 3%, indicating comparatively muted realized volatility for a social-media equity.
Fundamental Analysis
Profitability: Operating margin stands at 39.08% and EBIT margin at 38.52%; EBIT margin improved quarter-over-quarter by +61.49% but fell year-over-year by -6.19%. High gross margin of 75.02% supports operating leverage, yet the YoY compression in EBIT indicates margin pressure against last year’s comparables.
Revenue & Growth: Total revenue equals $115,766,000 with YoY revenue growth of +30.68% and QoQ growth of +1.21%, demonstrating strong top-line expansion that underpins current free cash flow generation.
Cash Flow & Liquidity: Operating cash flow reached $55,449,000 and free cash flow $51,243,000, producing a free cash flow yield of 1.835%, which sits above the industry peer mean of 0.813% and reflects healthy cash conversion despite a negative cash conversion ratio. However, the current ratio equals 0.82 and the cash ratio 0.067, indicating constrained short-term liquidity and higher reliance on financing.
Capital Structure: Total debt totals $283,240,000 with net debt $273,581,000; debt-to-assets equals 64.49% and debt-to-equity 399.19%, while debt-to-EBITDA measures 6.18x. Interest coverage at 9.55x provides breathing room on interest obligations but leverage metrics remain elevated relative to common operating-company norms.
Valuation & Earnings: GAAP EPS came in at $0.17 versus an estimate of $0.11, an EPS surprise of +54.55%. Trailing PE equals 94.61x and forward PE 157.20x; price-to-book stands at 39.36x. WMDST values the stock as over-valued, a conclusion driven by rich multiples (PE, P/B, enterprise multiple ~66.95) that outpace typical coverage comparables despite solid revenue growth and positive free cash flow generation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-06 |
| NEXT REPORT DATE: | 2026-02-05 |
| CASH FLOW | Begin Period Cash Flow | $ 121.4 M |
| Operating Cash Flow | $ 55.4 M | |
| Capital Expenditures | $ -4.21 M | |
| Change In Working Capital | $ 16.4 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -114.50 M | |
| End Period Cash Flow | $ 6.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 115.8 M | |
| Forward Revenue | $ 26.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 28.9 M | |
| Depreciation | $ 1.3 M | |
| Depreciation and Amortization | $ 1.3 M | |
| Research and Development | $ 11.1 M | |
| Total Operating Expenses | $ 70.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 86.8 M | |
| EBITDA | $ 45.8 M | |
| EBIT | $ 44.6 M | |
| Operating Income | $ 45.2 M | |
| Interest Income | — | |
| Interest Expense | $ 4.7 M | |
| Net Interest Income | $ -4.67 M | |
| Income Before Tax | $ 39.9 M | |
| Tax Provision | $ 9.1 M | |
| Tax Rate | 22.759 % | |
| Net Income | $ 30.8 M | |
| Net Income From Continuing Operations | $ 30.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.11 | |
| EPS Actual | $ 0.17 | |
| EPS Difference | $ 0.06 | |
| EPS Surprise | 54.545 % | |
| Forward EPS | $ 0.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 439.2 M | |
| Intangible Assets | $ 354.0 M | |
| Net Tangible Assets | $ -283.00 M | |
| Total Current Assets | $ 77.3 M | |
| Cash and Short-Term Investments | $ 6.3 M | |
| Cash | $ 6.3 M | |
| Net Receivables | $ 58.8 M | |
| Inventory | — | |
| Long-Term Investments | $ 2.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 4.1 M | |
| Short-Term Debt | $ 15.0 M | |
| Total Current Liabilities | $ 93.9 M | |
| Net Debt | $ 273.6 M | |
| Total Debt | $ 283.2 M | |
| Total Liabilities | $ 368.2 M | |
| EQUITY | ||
| Total Equity | $ 71.0 M | |
| Retained Earnings | $ -117.32 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 0.38 | |
| Shares Outstanding | 184.495 M | |
| Revenue Per-Share | $ 0.63 | |
| VALUATION | Market Capitalization | $ 2.8 B |
| Enterprise Value | $ 3.1 B | |
| Enterprise Multiple | 66.951 | |
| Enterprise Multiple QoQ | -50.28 % | |
| Enterprise Multiple YoY | 26.218 % | |
| Enterprise Multiple IPRWA | high: 279.681 GRND: 66.951 mean: 59.397 median: 55.385 low: -157.057 |
|
| EV/R | 26.516 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 6.19 | |
| Asset To Liability | 1.193 | |
| Debt To Capital | 0.8 | |
| Debt To Assets | 0.645 | |
| Debt To Assets QoQ | 22.783 % | |
| Debt To Assets YoY | 1862.032 % | |
| Debt To Assets IPRWA | high: 0.89 GRND: 0.645 mean: 0.095 median: 0.057 low: 0.001 |
|
| Debt To Equity | 3.992 | |
| Debt To Equity QoQ | 160.478 % | |
| Debt To Equity YoY | -456.689 % | |
| Debt To Equity IPRWA | GRND: 3.992 high: 1.778 mean: 0.145 median: 0.064 low: -0.923 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 39.36 | |
| Price To Book QoQ | 105.588 % | |
| Price To Book YoY | -124.04 % | |
| Price To Book IPRWA | GRND: 39.36 high: 11.238 mean: 7.741 median: 7.289 low: -1.614 |
|
| Price To Earnings (P/E) | 94.608 | |
| Price To Earnings QoQ | -63.198 % | |
| Price To Earnings YoY | -31.637 % | |
| Price To Earnings IPRWA | high: 229.272 GRND: 94.608 mean: 80.877 median: 57.03 low: -128.849 |
|
| PE/G Ratio | 0.946 | |
| Price To Sales (P/S) | 24.124 | |
| Price To Sales QoQ | -30.032 % | |
| Price To Sales YoY | -1.802 % | |
| Price To Sales IPRWA | high: 36.022 mean: 29.226 median: 27.551 GRND: 24.124 low: 0.003 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 157.196 | |
| Forward PE/G | 1.572 | |
| Forward P/S | 146.609 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 7.165 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.235 | |
| Asset Turnover Ratio QoQ | 38.123 % | |
| Asset Turnover Ratio YoY | 17.069 % | |
| Asset Turnover Ratio IPRWA | high: 0.5 GRND: 0.235 mean: 0.189 median: 0.182 low: 0.003 |
|
| Receivables Turnover | 1.998 | |
| Receivables Turnover Ratio QoQ | 5.725 % | |
| Receivables Turnover Ratio YoY | -5.77 % | |
| Receivables Turnover Ratio IPRWA | high: 11.52 mean: 2.135 GRND: 1.998 median: 1.643 low: 0.143 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 45.68 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 35.899 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 125.332 GRND: 35.899 median: 15.557 mean: 3.845 low: -343.916 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -6.981 | |
| CapEx To Revenue | -0.036 | |
| CapEx To Depreciation | -3.333 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 335.9 M | |
| Net Invested Capital | $ 350.9 M | |
| Invested Capital | $ 350.9 M | |
| Net Tangible Assets | $ -283.00 M | |
| Net Working Capital | $ -16.58 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.067 | |
| Current Ratio | 0.823 | |
| Current Ratio QoQ | -66.767 % | |
| Current Ratio YoY | -43.715 % | |
| Current Ratio IPRWA | high: 8.871 mean: 1.817 median: 1.611 GRND: 0.823 low: 0.217 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.178 | |
| Cost Of Debt | 1.263 % | |
| Interest Coverage Ratio | 9.552 | |
| Interest Coverage Ratio QoQ | 36.957 % | |
| Interest Coverage Ratio YoY | 66.686 % | |
| Interest Coverage Ratio IPRWA | high: 197.383 mean: 82.816 GRND: 9.552 median: 8.247 low: -113.554 |
|
| Operating Cash Flow Ratio | 0.348 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 9.782 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -19.801 % | |
| Revenue Growth | 11.078 % | |
| Revenue Growth QoQ | 1.206 % | |
| Revenue Growth YoY | 30.683 % | |
| Revenue Growth IPRWA | high: 25.814 % GRND: 11.078 % mean: 6.717 % median: 4.74 % low: -21.192 % |
|
| Earnings Growth | 100.0 % | |
| Earnings Growth QoQ | -600.0 % | |
| Earnings Growth YoY | -159.091 % | |
| Earnings Growth IPRWA | high: 177.966 % GRND: 100.0 % median: 11.765 % mean: -1.837 % low: -250.0 % |
|
| MARGINS | ||
| Gross Margin | 75.019 % | |
| Gross Margin QoQ | 1.787 % | |
| Gross Margin YoY | 0.905 % | |
| Gross Margin IPRWA | high: 97.596 % GRND: 75.019 % mean: 65.055 % median: 54.61 % low: -1.845 % |
|
| EBIT Margin | 38.515 % | |
| EBIT Margin QoQ | 61.488 % | |
| EBIT Margin YoY | -6.191 % | |
| EBIT Margin IPRWA | high: 49.713 % mean: 41.142 % GRND: 38.515 % median: 16.956 % low: -49.635 % |
|
| Return On Sales (ROS) | 39.08 % | |
| Return On Sales QoQ | 67.295 % | |
| Return On Sales YoY | -4.815 % | |
| Return On Sales IPRWA | high: 49.713 % GRND: 39.08 % mean: 31.411 % median: 15.318 % low: -59.443 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 51.2 M | |
| Free Cash Flow Yield | 1.835 % | |
| Free Cash Flow Yield QoQ | 79.902 % | |
| Free Cash Flow Yield YoY | 44.375 % | |
| Free Cash Flow Yield IPRWA | high: 14.053 % GRND: 1.835 % median: 0.868 % mean: 0.813 % low: -14.281 % |
|
| Free Cash Growth | 39.863 % | |
| Free Cash Growth QoQ | -31.461 % | |
| Free Cash Growth YoY | -58.9 % | |
| Free Cash Growth IPRWA | high: 483.929 % mean: 266.0 % median: 164.246 % GRND: 39.863 % low: -537.101 % |
|
| Free Cash To Net Income | 1.662 | |
| Cash Flow Margin | 28.245 % | |
| Cash Flow To Earnings | 1.06 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 6.249 % | |
| Return On Assets QoQ | 130.42 % | |
| Return On Assets YoY | 12.839 % | |
| Return On Assets IPRWA | high: 8.647 % GRND: 6.249 % mean: 5.053 % median: 2.758 % low: -11.32 % |
|
| Return On Capital Employed (ROCE) | 12.913 % | |
| Return On Equity (ROE) | 0.435 | |
| Return On Equity QoQ | 390.197 % | |
| Return On Equity YoY | -123.599 % | |
| Return On Equity IPRWA | GRND: 0.435 high: 0.135 mean: 0.069 median: 0.037 low: -0.144 |
|
| DuPont ROE | 23.843 % | |
| Return On Invested Capital (ROIC) | 9.816 % | |
| Return On Invested Capital QoQ | 138.137 % | |
| Return On Invested Capital YoY | -107.919 % | |
| Return On Invested Capital IPRWA | high: 16.42 % GRND: 9.816 % mean: 7.878 % median: 3.592 % low: -14.369 % |
|