How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q and earnings releases, or its annual report), with the period stated next to each number. Last refreshed October 2026. Our methodology.
In short
Bumble makes money through a freemium model. Its apps are free to use, and a minority of members pay for subscriptions or in-app purchases. In fiscal 2025 it had 3.67 million paying users and $965.7 million in revenue. The Bumble app brought in $783.0 million of that (81%), and Badoo and its other apps brought in $182.6 million.
How Bumble Inc. (NASDAQ: BMBL) makes money, FY2025: the income statement as a flow, to scale. Bumble App paying users generated 81% of $965.7M FY2025 revenue.. Source: Bumble Inc. (NASDAQ: BMBL) Form 10-K for fiscal 2025 (filed 2026-03-16). Gross profit, margins and shares calculated.
Bumble says its revenuegrowth “primarily depends on Paying Users and ARPPU”, meaning the number of members who pay each month and how much each one pays. In fiscal 2025 the Bumble app had 2.43 million paying users. Each paid an average of $26.80 a month. Badoo and Other had 1.24 million paying users at $11.48 a month.
Bumble revenue by fiscal year, FY2021 to FY2025, from the company's filings. Chart: The Business Engineer.
Members buy subscriptions (Bumble Boost, Premium and Premium+; Badoo Premium and Extra) and one-off features such as SuperSwipe, Spotlight and Badoo Credits. Most purchases go through the Apple and Google app stores, which take “up to an equivalent of 30%”. That is why cost of revenue was 29.2% of revenue in fiscal 2025.
How Bumble compares
The Bumble app is the main earner. It made $783.0 million in fiscal 2025, and its revenue per payer was more than twice Badoo’s ($26.80 against $11.48 a month). Badoo and Other made $182.6 million, about 19% of the total.
Revenue grew from $760.9 million in fiscal 2021 to a peak of $1,071.6 million in fiscal 2024. It then fell 9.9% to $965.7 million in fiscal 2025. The US share of revenue dropped from 53% in fiscal 2023 to 44% in fiscal 2025.
What changed in FY2025
The number of paying users fell 11.5%, from 4.15 million to 3.67 million. Bumble app payers fell 13.3%. The company says this follows its decision to move away from paid user acquisition and to remove bad actors. Selling and marketing expense fell 36.7% to $165.5 million.
Bumble revenue by line, prior year against FY2025, as reported. Chart: The Business Engineer.
Bumble recorded a $1,039.0 million impairment, made up of $656.2 million against goodwill and $382.8 million against intangible assets. This produced an operating loss of $805.8 million and a net loss of $895.3 million. Adjusted EBITDA, a non-GAAP measure, rose to $313.6 million, a 32.5% margin, and free cash flow was $238.7 million. In June 2025 the company cut about 30% of its roles.
What to watch
On 12 October 2026 Bumble agreed to be sold to Ithaca Holdings for $6.05 per share in cash. The company says this values it at $1.3 billion. Affiliates of Blackstone and Whitney Wolfe Herd approved the deal by written consent. The agreement allows either side to walk away if the deal has not closed by 12 July 2027.
The filing points to three risks: whether the number of payers stops falling, Bumble’s dependence on Apple and Google, and the chance of further impairments. Bumble says competition is intense and switching costs are low.
Frequently asked questions
How does Bumble make money?
Through subscriptions and in-app purchases on free apps. In fiscal 2025 it had 3.67 million paying users and $965.7 million in revenue, and the Bumble app accounted for $783.0 million of that.
How much of Bumble's revenue comes from Badoo?
Badoo App and Other generated $182.6 million in fiscal 2025, about 19% of revenue, down from $205.4 million in fiscal 2024.
How much does a Bumble paying user spend?
Bumble app payers averaged $26.80 a month in fiscal 2025, up 4.2% on the year before. Across all apps the average was $21.64 a month.
Why did Bumble report a loss in 2025?
Mostly because of a $1,039.0 million impairment loss. Excluding that charge, operating results were positive, but the reported operating loss was $805.8 million and the net loss was $895.3 million.
Bumble is an American social media company with a core focus on online dating. Bumble drives revenue through the purchase of in-app services using its currency Bumble Coins and via subscriptions. Bumble generates revenues in a few key ways: Spotlight is Bumble’s answer to Tinder’s Boost capability. The Bumble Boost function allows users to swipe without daily limits or extend matches for up to 48 hours.
Origin Story
Bumble is an American social media company with a core focus on online dating. The company was founded by Whitney Wolfe Herd, a former Tinder user who sued the platform for sexual discrimination and harassment in 2014.
As a result of media attention surrounding the case, the founder of the Russian dating app Badoo Andrey Andreev reached out to Heard. He proposed a new dating app using Badoo infrastructure โ as explored in the economics of AI compute infrastructure โ and investment funds.
Together, Heard and Andreev recruited fellow Tinder departees Sarah Mick and Chris Gulczynski to design the Bumble interface โ as explored in the interface layer wars reshaping consumer tech โ ready for launch in December 2014.
Bumble has since expanded to become more than just a dating app. Bumble BFF allows users to search for platonic friends, while Bumble Bizz focuses on business communication.
In 2020, the platform reached 100 million users and is the second most popular platform in the U.S. after Tinder.
Bumble was founded because we noticed two different, yet related issues in our society: antiquated gender norms, and a lack of kindness and accountability on the internet. We observed that women were often treated unequally in society, especially in romantic relationships. At the same time, social networks created possibilities for connections, but they were focused on connections with people you already know and lacked guardrails to encourage better behavior online.
Thus, as the company highlighted, the brand was built with “women at the center.”
The Bumble tech platform emphasizes a design “to be safe and empowering for women, and, in turn, provides a better environment for everyone.”
Therefore, as the company highlights, the value proposition moves along a few key values:
Meaningful Connections and Healthy Relationships.
Trust and Safety.
Innovative Features.
A Large, Growing, Engaged Community.
FourWeekMBABusiness EngineerTimeline, as stated in the article
2014
The company was founded by Whitney Wolfe Herd, a former Tinder user who sued the platform for sexual discrimination and harassment in 2014.
2014
Together, Heard and Andreev recruited fellow Tinder departees Sarah Mick and Chris Gulczynski to design the Bumble interface โ as explored in the interface layer wars reshaping consumer tech โ ready for launch in December 2014.
2020
In 2020, the platform reached 100 million users and is the second most popular platform in the U.S. after Tinder.
2020
In 2020, Bumble replaced MagicLab as the parent company of both Bumble and Badoo.
2020
In 2020, Bumble also became the parent company of Badoo โ the world's most popular online dating service with a similar businessmodel.
Understanding the Bumble tech platform and product
The company operates two main products:
Bumble: launched in 2014, is one of the first dating apps built with women at the center.
And Badoo: launched in 2006, one of the pioneers of web and mobile free-to-use dating products.
The users’ experience consists of three main paths/journeys:
Setting Up a Profile
The platform has been designed to enable a straightforward setup and interaction. (Image Source: Bumble Financial Prospectus).
Matching
The matching experience is a distinctive element of the platform, and it’s engineered to empower women in the choice of a potential match. (Image Source: Bumble Financial Prospectus).
Chatting
Bumble’s users must initiate a chat within 24 hours, or the connection disappears. (Image Source: Bumble Financial Prospectus).
Premium Features
Bumble subscription offerings (Bumble Boost and Bumble Premium) enable a set of premium features like:
Beeline: a feature that shows you who likes you.
Rematch: enabling subscribers to rematch with any prior matches that have already expired after 24 hours.
Extend: access to an unlimited number of 24-hour extensions on conversations.
Other features can be enabled as in-app purchases:
SuperSwipe: to inform potential matches that they are confidently interested in them.
Spotlight: to advance their profile to the top of the list of potential matches.
Travel Mode: change location to anywhere in the world (thus opening up to new matches).
Backtrack: enabling users to undo a โnoโ vote to revisit potential matches.
Customer Segments:
Singles: Individuals seeking romantic partners for dating, relationships, or casual encounters.
Friendship Seekers: Users looking to expand their social circle and find platonic friends through Bumble BFF.
Professionals: Those interested in networking and career opportunities through Bumble Bizz.
Enterprises: Large companies that may partner with Bumble to offer dating or networking benefits to their employees.
Distribution Strategy:
Mobile App: The Bumble mobile app is the primary channel for users to access and interact with the platform. It provides features for setting up profiles, swiping, matching, and initiating conversations.
Website: While the app is the core platform, Bumble’s website complements the mobile experience, offering users the ability to access their accounts and profile information from desktop computers.
Marketing Strategy:
Brand Messaging: Bumble’s marketing messages emphasize empowerment, safety, and meaningful connections. It communicates its commitment to women’s empowerment and positive online interactions.
In-App Promotions: The app itself promotes premium features and subscriptions, encouraging users to explore and purchase additional services.
Social Media: Bumble actively engages with its user community on social media platforms, sharing success stories, dating tips, and content related to empowerment and relationships.
Partnerships: Bumble may collaborate with influencers, celebrities, or brands to expand its reach and promote its values.
Word of Mouth: Bumble encourages users to refer friends and family to the platform, leveraging word-of-mouth marketing.
Events and Initiatives: Bumble may organize events, campaigns, or initiatives to support its mission and engage with users both online and offline.
Bumble revenue generation
Bumble KPIs (Image Source: Financial Prospectus)
It’s important to point out that the core features of Bumble are free to use. Users can swipe and match with interested parties without having to pay for the privilege.
Instead, Bumble drives revenue by purchasing in-app services using its currency, Bumble Coins.
Spotlight
Spotlight is Bumble’s answer to Tinder’s Boost capability.
Users can pay to have their profiles placed at the front of a match queue using Bumble coins.
The coins are available for purchase within the app, with pricing depending on the user’s country and the number of coins purchased.
In general, Bumble offers discounts for bulk purchases. In the United States, for example, 1 Bumble Coin costs $1.99, while 20 Bumble Coins can be had for $24.99.
Boost
The Bumble Boost function allows users to swipe without daily limits or extend matches for up to 48 hours. They can also instantly access those who have liked their profile and re-match with old connections.
Boost features are also purchased with Bumble Coins but more frequently. Using a subscription-based model, users can sign up to Boost for a week, month, three months, or a lifetime.
Again, prices depend on the region and the renewal frequency chosen. But Bumble can charge up to $25/month for this premium membership.
Badoo ownership
In 2020, Bumble replaced MagicLab as the parent company of both Bumble and Badoo.
Therefore it is not unreasonable to suggest that Bumble makes a significant amount of money from Badoo โ which is also a popular dating platform with a similar businessmodel.
Badoo is the world’s most widely used dating network, operating in 190 countries with hundreds of millions of registered users.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
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