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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2021

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number: 001-40054

 

Bumble Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

85-3604367

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

1105 West 41st Street

Austin, Texas

78756

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (512) 696-1409

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Class A common stock, par value $0.01 per share

 

BMBL

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes  ☒   No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

  

Accelerated filer

 

 

 

 

 

Non-accelerated filer

 

  

Smaller reporting company

 

 

 

 

 

 

 

 

Emerging growth company

 

`

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes  ☐    No  

As of July 31, 2021, Bumble Inc. had 119,799,036 shares of Class A common stock, par value $0.01 per share, outstanding and 20 shares of Class B common stock, par value $0.01 per share, outstanding.

 

 


 

SPECIAL NOTE REGARDING Forward-Looking Statements

This Quarterly Report on Form 10-Q, or this Quarterly Report, contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current views of management of Bumble Inc. with respect to, among other things, its operations, its financial performance, its industry and the impact of the Coronavirus Disease 2019 (“COVID-19”) on its business. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe(s),” “expect(s),” “potential,” “continue(s),” “may,” “will,” “should,” “could,” “would,” “seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),” “anticipates,” “projection,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include, but are not limited to, the following:

our ability to retain existing users or attract new users and to convert users to paying users
competition and changes in the competitive landscape of our market
our ability to distribute our dating products through third parties, such as Apple App Store or Google Play Store, and offset related fees
the impact of data security breaches or cyber attacks on our systems and the costs of remediation related to any such incidents
the continued development and upgrading of our technology platform and our ability to adapt to rapid technological developments and changes in a timely and cost-effective manner
our ability to obtain, maintain, protect and enforce intellectual property rights and successfully defend against claims of infringement, misappropriation or other violations of third-party intellectual property
our ability to comply with complex and evolving U.S. and international laws and regulations relating to our business, including data privacy laws
foreign currency exchange rate fluctuations
risks relating to certain of our international operations, including successful expansion into new markets
control of us by Blackstone (as defined below) and our Founder
the outsized voting rights of Blackstone (as defined below) and our Founder
the inability to attract hire and retain a highly qualified and diverse workforce, or maintain our corporate culture
changes in business or macroeconomic conditions, including the impact of COVID-19 (and other widespread health emergencies or pandemics) and measures taken in response, lower consumer confidence in our business or in the online dating industry generally, recessionary conditions, increased unemployment rates, stagnant or declining wages, political unrest, armed conflicts or natural disasters

For more information regarding these and other risks and uncertainties that we face, see Part I, “Item 1A—Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2020. These factors should not be construed as exhaustive and we caution you that the important factors referenced above may not contain all of the factors that are important to you. Bumble Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

Website and Social Media Disclosure

We use our websites (www.bumble.com and ir.bumble.com) and at times our corporate Twitter account (@bumble) to distribute company information. The information we post through these channels may be deemed material. Accordingly, investors should monitor these channels, in addition to following our press releases, filings with the Securities and Exchange Commission (“SEC”) and public conference calls and webcasts. In addition, you may automatically receive e-mail alerts and other information about Bumble when you enroll your e-mail address by visiting the “E-mail Alerts” section of our website at ir.bumble.com. The contents of our website and social media channels are not, however, a part of this Quarterly Report on Form 10-Q.

1


 

Certain Definitions

As used in this Quarterly Report, unless otherwise noted or the context requires otherwise:

 

“Badoo App and Other Average Revenue per Paying User” is a metric calculated based on Badoo App and Other Revenue in any measurement period, excluding any revenue generated from advertising and partnerships or affiliates, divided by Badoo App and Other Paying Users in such period divided by the number of months in the period.
a “Badoo App and Other Paying User” is a user that has purchased or renewed a subscription plan and/or made an in-app purchase on the Badoo app in a given month (or made a purchase on one of our other apps that we owned and operated in a given month, or purchase on other third-party apps that used our technology in the relevant period). We calculate Badoo App and Other Paying Users as a monthly average, by counting the number of Badoo App and Other Paying Users in each month and then dividing by the number of months in the relevant measurement period.
“Badoo App and Other Revenue” is revenue derived from purchases or renewals of a Badoo subscription plan and/or in-app purchases on the Badoo app in the relevant period, purchases on one of our other apps that we owned and operated in the relevant period, purchases on other third party apps that used our technology in the relevant period and advertising, partnerships or affiliates revenue in the relevant period.
“Blocker Companies” refer to certain entities that are taxable as corporations for U.S. federal income tax purposes in which the Pre-IPO Shareholders held interests.
“Blocker Restructuring” refers to certain restructuring transactions that resulted in the acquisition by Pre-IPO Shareholders of shares of Class A common stock in exchange for their ownership interests in the Blocker Companies and Bumble Inc. acquiring an equal number of outstanding Common Units.
“Bumble,” the “Company,” “we,” “us” and “our” refer to Bumble Inc. and its consolidated subsidiaries.
“Bumble App Average Revenue per Paying User” is a metric calculated based on Bumble App Revenue in any measurement period, divided by Bumble App Paying Users in such period divided by the number of months in the period.
a “Bumble App Paying User” is a user that has purchased or renewed a Bumble subscription plan and/or made an in-app purchase on the Bumble app in a given month. We calculate Bumble App Paying Users as a monthly average, by counting the number of Bumble App Paying Users in each month and then dividing by the number of months in the relevant measurement period.  
"Bumble App Revenue” is revenue derived from purchases or renewals of a Bumble subscription plan and/or in-app purchases on the Bumble app in the relevant period.
“Bumble Holdings” refers to Buzz Holdings L.P., a Delaware limited partnership.
“Blackstone” or “our Sponsor” refer to investment funds associated with The Blackstone Group Inc.
“Class B Units” refers to the interests in Bumble Holdings called “Class B Units,” including the Class B units held by Buzz Management Aggregator L.P., that were outstanding prior to the Reclassification.
“Common Units” refers to the new class of units of Bumble Holdings created by the Reclassification and does not include Incentive Units.
“Founder” refers to Whitney Wolfe Herd, the founder of Bumble, our Chief Executive Officer and member of our board of directors, together with entities beneficially owned by her.
“Incentive Units” refers to the new class of units of Bumble Holdings created by the reclassification of the Class B Units in the Reclassification. The Incentive Units are “profit interests” having economic characteristics similar to stock appreciation rights and having the right to share in any equity value of Bumble Holdings above specified participation thresholds. Vested Incentive Units may be converted to Common Units and be subsequently exchanged for shares of Class A common stock.
“IPO” refers to the initial public offering.
“Offering Transactions” refers to the offering of Class A common stock in the IPO and certain related transactions, as defined in “Item 2―Management’s Discussion and Analysis of Financial Condition and Results of Operations―2021 Developments―Initial Public Offering and Offering Transactions”.
“Pre-IPO Common Unitholders” refer to pre-IPO owners that hold Common Units following the Reclassification.

2


 

“pre-IPO owners” refer to our Founder, our Sponsor, an affiliate of Accel Partners LP and management and other equity holders who are the owners of Bumble Holdings immediately prior to the Offering Transactions.
“Pre-IPO Shareholders” refer to pre-IPO owners that received shares of Class A common stock of Bumble Inc. pursuant to the Blocker Restructuring.
“Principal Stockholders” refers collectively to our Founder and our Sponsor.
“Reclassification” refers to the reclassification of the limited partnership interests of Bumble Holdings in connection with the IPO pursuant to which certain outstanding Class A units were reclassified into a new class of limited partnership interests that we refer to as “Common Units” and certain outstanding Class B Units were reclassified into a new class of limited partnership interests that we refer to as “Incentive Units.”.
“Reorganization Transactions” refer to certain transactions prior to the completion of the IPO which were accounted as a reorganization of entities under common control. 
“Sponsor Acquisition” refers to the acquisition on January 29, 2020 by our Sponsor of a majority stake in Worldwide Vision Limited and certain transactions related thereto.
“Total Average Revenue per Paying User” is a metric calculated based on Total Revenue in any measurement period, excluding any revenue generated from advertising and partnerships or affiliates, divided by the Total Paying Users in such period divided by the number of months in the period.
“Total Paying Users” is the sum of Bumble App Paying Users and Badoo App and Other Paying Users.
“Total Revenue” is the sum of Bumble App Revenue and Badoo App and Other Revenue.
“user” is a user ID, a unique identifier assigned during registration.

 

3


 

Table of Contents

 

Page

PART I.

FINANCIAL INFORMATION

 

Item 1.

Financial Statements (Unaudited)

5

Condensed Consolidated Balance Sheets

5

Condensed Consolidated Statements of Operations

6

Condensed Consolidated Statements of Comprehensive Operations

7

 

Condensed Consolidated Statements of Changes in Equity

8

Condensed Consolidated Statements of Cash Flows

11

Notes to Unaudited Condensed Consolidated Financial Statements

12

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

34

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

49

Item 4.

Controls and Procedures

49

PART II.

OTHER INFORMATION

 

Item 1.

Legal Proceedings

51

Item 1A.

Risk Factors

51

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

51

Item 6.

Exhibits

52

 

Signatures

53

 

 

 

 

4


 

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited).

Bumble Inc.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share information)

(Unaudited)

 

 

 

June 30, 2021

 

 

December 31, 2020

 

ASSETS

 

 

 

 

 

 

Cash and cash equivalents

 

$

252,021

 

 

$

128,029

 

Accounts receivable

 

 

66,745

 

 

 

41,595

 

Other current assets

 

 

85,282

 

 

 

81,387

 

Total current assets

 

 

404,048

 

 

 

251,011

 

Right-of-use assets

 

 

9,442

 

 

 

11,711

 

Lease receivable

 

 

1,115

 

 

 

1,069

 

Property and equipment, net

 

 

15,000

 

 

 

16,833

 

Goodwill

 

 

1,540,112

 

 

 

1,540,915

 

Intangible assets, net

 

 

1,765,825

 

 

 

1,812,410

 

Deferred tax assets, net

 

 

15,175

 

 

 

 

Other noncurrent assets

 

 

3,913

 

 

 

3,319

 

Total assets

 

$

3,754,630

 

 

$

3,637,268

 

LIABILITIES AND BUMBLE INC. SHAREHOLDERS’ / BUZZ HOLDINGS L.P. OWNERS’ EQUITY

 

 

 

 

 

 

Accounts payable

 

$

15,689

 

 

$

23,741

 

Deferred revenue

 

 

37,329

 

 

 

31,269

 

Accrued expenses and other current liabilities

 

 

115,083

 

 

 

180,986

 

Current portion of long-term debt, net

 

 

2,588

 

 

 

5,338

 

Total current liabilities

 

 

170,689

 

 

 

241,334

 

Long-term debt, net

 

 

621,645

 

 

 

820,876

 

Deferred tax liabilities, net

 

 

 

 

 

428,087

 

Tax receivable agreement liability

 

 

356,755

 

 

 

 

Other liabilities

 

 

118,033

 

 

 

62,190

 

Total liabilities

 

$

1,267,122

 

 

$

1,552,487

 

Commitments and contingencies (Note 16)

 

 

 

 

 

 

Bumble Inc. Shareholders’ / Buzz Holdings L.P. Owners’ Equity:

 

 

 

 

 

 

Class A common stock (par value $0.01 per share, 6,000,000,000 shares authorized; 119,799,036 shares issued; and 119,799,036 shares outstanding as of June 30, 2021)

 

 

1,198

 

 

 

 

Class B common stock (par value $0.01 per share, 1,000,000 shares authorized; 20 shares issued and outstanding as of June 30, 2021)

 

 

 

 

 

 

Preferred stock (par value $0.01; authorized 600,000,000 shares; no shares issued and outstanding as of June 30, 2021)

 

 

 

 

 

 

Limited Partners’ interest

 

 

 

 

 

1,903,121

 

Additional paid-in capital

 

 

1,339,583

 

 

 

Accumulated deficit

 

 

(35,928

)

 

 

 

Accumulated other comprehensive income

 

 

175,198

 

 

 

180,852

 

Total Bumble Inc. shareholders’ / Buzz Holdings L.P. owners’ equity

 

 

1,480,051

 

 

 

2,083,973

 

Noncontrolling interests

 

 

1,007,457

 

 

 

808

 

Total shareholders’ / owners’ equity

 

 

2,487,508

 

 

 

2,084,781

 

Total liabilities and shareholders’ / owners’ equity

 

$

3,754,630

 

 

$

3,637,268

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5


 

Bumble Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share / unit information)

(Unaudited)

 

 

 

Successor

 

 

 

Predecessor

 

 

 

Three Months
Ended
June 30,
2021

 

 

Three Months
Ended
June 30,
2020

 

 

Six Months
Ended
June 30,
2021

 

 

Period from
January 29,
through
June 30,
2020

 

 

 

Period from
January 1,
through
January 28,
2020

 

Revenue

 

$

186,217

 

 

$

135,142

 

 

$

356,930

 

 

$

214,287

 

 

 

$

39,990

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

50,797

 

 

 

36,867

 

 

 

98,544

 

 

 

58,494

 

 

 

 

10,790

 

Selling and marketing expense

 

 

49,711

 

 

 

39,480

 

 

 

96,549

 

 

 

66,767

 

 

 

 

11,157

 

General and administrative expense

 

 

43,381

 

 

 

20,128

 

 

 

169,905

 

 

 

80,162

 

 

 

 

44,907

 

Product development expense

 

 

24,921

 

 

 

10,110

 

 

 

59,966

 

 

 

17,055

 

 

 

 

4,087

 

Depreciation and amortization expense

 

 

26,905

 

 

 

24,032

 

 

 

53,860

 

 

 

40,345

 

 

 

 

408

 

Total operating costs and expenses

 

 

195,715

 

 

 

130,617

 

 

 

478,824

 

 

 

262,823

 

 

 

 

71,349

 

Operating earnings (loss)

 

 

(9,498

)

 

 

4,525

 

 

 

(121,894

)

 

 

(48,536

)

 

 

 

(31,359

)

Interest income (expense)

 

 

(5,921

)

 

 

(5,246

)

 

 

(13,650

)

 

 

(9,785

)

 

 

 

50

 

Other income (expense), net

 

 

4,731

 

 

 

(1,159

)

 

 

11,722

 

 

 

(547

)

 

 

 

(882

)

Income (loss) before income taxes

 

 

(10,688

)

 

 

(1,880

)

 

 

(123,822

)

 

 

(58,868

)

 

 

 

(32,191

)

Income tax benefit (provision)

 

 

(459

)

 

 

(3,585

)

 

 

436,117

 

 

 

(2,406

)

 

 

 

(365

)

Net earnings (loss)

 

 

(11,147

)

 

 

(5,465

)

 

 

312,295

 

 

 

(61,274

)

 

 

 

(32,556

)

Net earnings (loss) attributable to noncontrolling interests

 

 

(4,064

)

 

 

(16

)

 

 

(22,412

)

 

 

(64

)

 

 

 

1,917

 

Net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners

 

$

(7,083

)

 

$

(5,449

)

 

$

334,707

 

 

$

(61,210

)

 

 

$

(34,473

)

Net earnings (loss) per share / unit attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share / unit

 

$

(0.06

)

 

$

 

 

$

1.67

 

 

$

(0.02

)

 

 

 

 

Diluted earnings (loss) per share / unit

 

$

(0.06

)

 

$

 

 

$

1.62

 

 

$

(0.02

)

 

 

 

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6


 

Bumble Inc.

Condensed Consolidated Statements of Comprehensive Operations

(In thousands)

(Unaudited)

 

 

 

 

 

 

 

 

 

Successor

 

 

 

 

 

 

Predecessor

 

 

 

Three Months
Ended
June 30,
2021

 

 

Three Months
Ended
June 30,
2020

 

 

Six Months
Ended
June 30,
2021

 

 

Period from
January 29,
through
June 30,
2020

 

 

 

Period from
January 1,
through
January 28,
2020

 

Net earnings (loss)

 

$

(11,147

)

 

$

(5,465

)

 

$

312,295

 

 

$

(61,274

)

 

 

$

(32,556

)

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in foreign currency translation adjustment

 

 

(5,467

)

 

 

7,509

 

 

 

(9,034

)

 

 

(80,569

)

 

 

 

(774

)

Total other comprehensive income (loss), net of tax

 

 

(5,467

)

 

 

7,509

 

 

 

(9,034

)

 

 

(80,569

)

 

 

 

(774

)

Comprehensive income (loss)

 

 

(16,614

)

 

 

2,044

 

 

 

303,261

 

 

 

(141,843

)

 

 

 

(33,330

)

Comprehensive income (loss) attributable to noncontrolling interests

 

 

(6,057

)

 

 

(16

)

 

 

(25,792

)

 

 

(64

)

 

 

 

1,917

 

Comprehensive income (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners

 

$

(10,557

)

 

$

2,060

 

 

$

329,053

 

 

$

(141,779

)

 

 

$

(35,247

)

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

 

7


 

Bumble Inc.

Condensed Consolidated Statements of Changes in Equity (Successor)

Three months ended June 30, 2021

(Unaudited)

 

 

 

Class A
Common Stock

 

 

Class B
Common Stock

 

 

Additional
Paid-in

 

 

Treasury
Stock

 

 

Accumulated

 

 

Accumulated
Other
Comprehensive

 

 

Noncontrolling

 

 

Total
Shareholders’
/ Owners'

 

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Shares

 

 

Amount

 

 

 Deficit

 

 

Income

 

 

Interests

 

 

Equity

 

 

 

(In thousands, except share amounts)

 

Balance as of April 1, 2021

 

 

140,142,374

 

 

$

1,401

 

 

 

20

 

 

$

 

 

$

2,259,381

 

 

 

24,798,848

 

 

$

(1,018,365

)

 

$

(28,845

)

 

$

178,672

 

 

$

1,081,962

 

 

$

2,474,206

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7,083

)

 

 

 

 

 

(4,064

)

 

 

(11,147

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29,916

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29,916

 

Retirement of treasury stock and restored to authorized but unissued

 

 

(24,798,848

)

 

 

(248

)

 

 

 

 

 

 

 

 

(1,018,117

)

 

 

(24,798,848

)

 

 

1,018,365

 

 

 

 

 

 

 

 

 

 

 

 

 

Exchange of common units for Class A common stock

 

 

4,455,510

 

 

 

45

 

 

 

 

 

 

 

 

 

68,403

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(68,448

)

 

 

 

Other comprehensive loss, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3,474

)

 

 

(1,993

)

 

 

(5,467

)

Balance as of June 30, 2021

 

 

119,799,036

 

 

$

1,198

 

 

 

20

 

 

$

 

 

$

1,339,583

 

 

 

 

 

$

 

 

$

(35,928

)

 

$

175,198

 

 

$

1,007,457

 

 

$

2,487,508

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

Bumble Inc.

Condensed Consolidated Statements of Changes in Equity (Successor)

Three months ended June 30, 2020

(Unaudited)

 

 

 

 Limited
Partners Interest

 

 

Accumulated
Other
Comprehensive

 

 

Total
Bumble
Inc.
Owners’ /
Shareholders’

 

 

Noncontrolling

 

 

Total
Shareholders’
/ Owners’

 

 

 

 

Units

 

 

Amount

 

 

Loss

 

 

Equity

 

 

Interests

 

 

Equity

 

 

 

(In thousands)

 

Balance as of April 1, 2020

 

 

 

2,453,233

 

 

$

2,334,233

 

 

$

(88,078

)

 

$

2,191,814

 

 

$

(48

)

 

$

2,191,766

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

(5,449

)

 

 

(16

)

 

 

(5,465

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

2,170

 

 

 

 

 

 

2,170

 

Other comprehensive income, net of tax

 

 

 

 

 

 

 

 

 

7,509

 

 

 

7,509

 

 

 

 

 

 

7,509

 

Balance as of June 30, 2020

 

 

 

2,453,233

 

 

$

2,334,233

 

 

$

(80,569

)

 

$

2,196,044

 

 

$

(64

)

 

$

2,195,980

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

 

 

 

 

8


 

Bumble Inc.

Condensed Consolidated Statements of Changes in Equity (Successor)

Six months ended June 30, 2021

(Unaudited)

 

Limited
Partners'

 

 

Class A
Common Stock

 

 

Class B
Common Stock

 

 

Additional
Paid-in

 

 

Treasury
Stock

 

 

Accumulated

 

 

Accumulated
Other
Comprehensive

 

 

Noncontrolling

 

 

Total
Shareholders’
/ Owners'

 

 

Equity

 

 

Shares

 

 

Amount

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Shares

 

 

Amount

 

 

 Deficit

 

 

Income

 

 

Interests

 

 

Equity

 

 

 

 

 

(In thousands, except share amounts)

 

Balance as of January 1, 2021

$

1,903,121

 

 

 

 

 

$

 

 

 

 

 

$

 

 

$

 

 

 

 

 

$

 

 

$

 

 

$

180,852

 

 

$

808

 

 

$

2,084,781

 

Acquisition of noncontrolling interests

 

808

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(808

)

 

 

 

Net earnings prior to Reorganization Transactions

 

370,635

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

370,635

 

Stock-based compensation expense

 

11,587

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,587

 

Effect of the Reorganization Transactions

 

(2,286,151