Grindr Inc.

Good afternoon. My name is Ludi, and I will be your conference operator today. At this time, I would like to welcome everyone to the Grindr third quarter 2023 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, please press the star followed by the number two. Thank you. I would now like to turn the conference over to Tolo Adeyemi, Grindr's Head of Investor Relations. Please go ahead.

Thank you, moderator. Hello and welcome to Grindr's Q3 2023 earnings call. Today's call will be led by Grindr CEO, George Arison, and CFO, Lana Krantz. They will make a few brief remarks and then we'll open it up for questions. Please note, Grindr released its Q3 2023 shareholder letter this afternoon, and this is available on the SEC's website and Grindr's investor page at investors.grindr.com. Before we begin, I will remind everyone that during this call, we may discuss our outlook and future performance. These forward-looking statements may be preceded by words such as, we expect, we believe, we anticipate, or similar such statements. These statements are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in our earnings release and our periodic reports filed with the SEC. During today's call, we will also present both GAAP and non-GAAP financial measures. Additional disclosures regarding non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures, are included in the earnings release we issue today. which has been posted on the investor relations page of Grindr's website and in Grindr's filings with the SEC. With that, I'll turn it over to George.

Thank you, Toho. Before we get started, I would just like to say I'm glad I am to have you on board. We have added so many strong new leaders across departments who will help us attract even more excellent talent. In Q3, Zach Katz joined us as General Counsel and Head of Global Affairs, Kristen Pinheiro as Vice President of Brand and Communication, and Solmaz Torpagan as Director of Artificial Intelligence and Machine Learning, with more to come. Now for our results. Krana delivered a strong quarter with revenue growth of 39% and adjusted EBITDA margin of 46%. It is clear from the results that our work this year on new products and features is being well received by users, and we're excited by the progress we're making on our monetization strategy. Our team is executing on these initiatives while concurrently driving positive cultural change within the company, change that is ongoing and will continue for much of 2024. Over the last year, a big focus for the executive team has been to facilitate a transition to an environment where our employees can continually learn, execute successfully, and unleash their full potential. Returning to the office on a hybrid basis was crucial to this change. In Q2, our leadership team decided Grinder would move to a hybrid work model involving a return to an in-office work environment. And in August, we announced the adoption of a multi-phase return to office plan. This plan is designed to capture the benefits of in-office work of preserving the flexibility that so many of us have come to value. Being back together in the office will enable us to deliver better results for our users and for our shareholders. and I'm excited about the pipeline of projects we're working to prioritize right now. These projects include innovation focused on building improved functionality to allow users to better find what they need within our app and new features that better enable behavior already taking place within the app. This is all in addition to the AI capabilities we're building to help us provide users with unique insights about each other and to better connect with each other. I'm excited about the work that we're doing and I look forward to telling you more about it in the coming quarters. With that, I'll hand it over to Vena to discuss her financial performance.