Grindr Inc.

by the number one on your telephone keypad. And if you'd like to withdraw that question, again, press star one. Thank you. I would now like to turn the conference over to Tolu Adeofe, Grindr's head of investor relations. Tolu, please go ahead.

Thank you, moderator. Hello and welcome to the Grindr earnings call for the first quarter of 2025. Today's call will be led by Grindr's CEO, George Arison, and CFO, Vanna Krantz. They'll make a few brief remarks, and then we'll open it up for questions. Please note, Grindr released its shareholder letter this afternoon, and this is available on the SEC's website and Grindr's investor page at investors.grinder.com. Before we begin, I will remind everyone that during this call, we may discuss our outlook, future performance, and future prospects. You should not rely on forward-looking statements as predictions of future events. These forward-looking statements are subject to risks and uncertainties, and our actual results differ materially from the views expressed today. Some of the risks that could cause our actual results to differ from views expressed in our forward-looking statements have been set forth in our earnings release and our periodic reports filed with the SEC, including our annual report on Form 10-K for the year end of December 31, 2024. 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 these non-GAAP financial measures to their most closely comparable GAAP financial measure are included in the earnings release issued today, which has been posted on the investor relations page of Grinder's website and in Grinder's filings with the SEC. With that, I'll turn it over to George.

Thanks, Tolu. Welcome, everyone. We're kicking off 2025 with exceptional Q1 results and strong momentum in product development. Early data from several initiatives and testing give us confidence to raise our full-year outlook to 26% or greater revenue growth and at least 43% adjusted EBITDA margins. Our Q1 shareholder letter dives into why 2025 is such a pivotal year for Grindr. We're building one of the world's most advanced consumer tech platforms and a beloved community app that integrates AI throughout the experience. At last year's Investor Day, we outlined a bold roadmap centered on three pillars. First, deepening intent-based offerings in our core connections use case. Second, creating an AI architecture layer to power the app for the long term. And third, building the digital neighborhood. Across all three, we're executing on or ahead of schedule. In the first, connections pillar, our single biggest current effort is right now, which significantly expands our app's surface area for all users and has performed strongly in testing. We've now rolled it out to 17 major cities, including New York, Miami, London, Paris, and Rio. In these markets, 20 to 25% of our users engage with right now weekly, and we've begun monetizing it in select regions. The success is a key driver behind our updated guidance. We expect to expand right now to nearly 50% of our weekly active users over the next several weeks. Where it is live, all users, including free users, can take advantage of right now, even with modernization. On AI, we're committed to making Grindr an AI-native leader among consumer apps. Leveraging our distribution, user base, and last data We are creating previously unimaginable product experiences. In January, we've announced a suite of AI-native products, including now in testing with a quarter of unlimited users. A-List applies our architecture layer to users' chat activity, over 130 billion chats annually, or 50 per daily user, providing smarter, best-fit priority connections to each user, coupled with thoughtful, rich insights from conversations that have already taken place. Sparing users the effort to manually curate favorites or find other ways to track profiles they like, A-List automatically surfaces the connections that matter most based on chat history. I encourage everyone to take a look at the demo linked in our shareholder letter posted on our website. Even in this early version, it's an amazing product, giving us an early view into the incredible age of consumer products we will experience with Gen.A.I. Our letter also details the steps we're taking to prioritize user control and transparency, since privacy remains non-negotiable as we build AI products. For our third pillar, the gayborhood, SOPS Beta launched Woodwork, a men's health subscription service designed by gay people for gay people. Partnering with a telehealth provider, OpenMOOP, Woodwork offers a compounded ED medication relevant to close to 30% of our users who have purchased ED medications in the last year and 60% who have considered using supplements or medicines for their sexual health. This capital light, low execution risk initiative is a zero to one effort, a true seed stage startup within Grindr. As a startup, the Woodwork team is focused on learning, and it will be several quarters before we have meaningful updates to share. Today, thanks to our team's intense focus and discipline, the pace of product development at Grindr is relentless. Over our first two years as a public company, we've laid a strong foundation and proven we can deliver. Our next core phase will come from a surge in product and feature launches. To put this in perspective, in 2024, we launched eight new products and initiatives. In 2025, we're targeting over 40 across core use cases, AI, and the neighborhood. As these roll out, we'll be focused on optimizing our portfolio, balancing user experience, with how we merchandise our growing set of offerings. I'm thrilled by our team's ability to execute on this ambitious strategy in such a nimble way. It is inspiring to watch. We're honored to be building these experiences for our fantastic community. Now, over to Anna.