Grindr Inc. (GRND) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Exhibit 99.1

Grindr Reports Revenue Growth of 34% in Fiscal Year 2022 Results

Grindr, Inc. Reports 2022 Q4 and Full Year 2022 Earnings Results

2022 Full Year Operating Income of $13 Million and Adjusted EBITDA Margin of 44%

111 Billion Chats Sent and 999 Million Album Shares in 2022, with Revenue from Paying Users Up 41%

Inaugural Shareholder Letter Details Plans to Drive Monetization, with Guidance of 25% or Greater Revenue Growth and 38%+ EBITDA Margin in 2023

LOS ANGELES, CA – March 6, 2023 –

Grindr Inc. (NYSE: GRND), the world’s largest social network for the LGBTQ community, today posted its financial results for the fourth quarter and fiscal year ended December 31, 2022 in a Letter to Shareholders. The Letter to Shareholders can be accessed on Grindr’s Investor Relations website.

“Grindr is off to a great start as a newly public company, delivering strong growth in revenue and Adjusted EBITDA,” said George Arison, Chief Executive Officer of Grindr. “We grew revenue from our paying users by 41% in 2022. We have put the foundation in place to drive sustainable long-term growth and value creation as we enhance our user experience, better monetize our core business, build out our international business and, longer-term, add new adjacent, community-focused businesses.”

Grindr will host a live webcast today at 2:00 p.m. Pacific Time to discuss the company’s fourth quarter and fiscal year financial results. The webcast of the conference call can be accessed as follows:

Event: Grindr Fourth Quarter and Fiscal Year 2022 Earnings Conference Call

Date: Monday, March 6, 2023

Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)

Live Webcast Site: https://investors.grindr.com/

An archived webcast of the conference call will also be accessible on Grindr’s Investor Relations page, https://investors.grindr.com/.

Grindr uses Adjusted EBITDA and Adjusted EBITDA margin, which are non-GAAP measures, to understand and evaluate its core operating performance. These non-GAAP financial measures, which may differ from similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of Grindr’s financial performance and should not be considered as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Grindr defines Adjusted EBITDA as net income (loss) excluding income tax provision, interest expense, depreciation and amortization, stock-based compensation expense, non-core expenses/losses (gains), including purchase accounting adjustments related to deferred revenue, transaction-related costs, management fees, and interest income from the related party loan to Catapult GP II. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of revenue. Grindr’s management uses Adjusted EBITDA and Adjusted EBITDA margin internally to evaluate the performance of our business and this measure is one of the primary metrics by which our internal budgets are based and by which management is compensated. Grindr believes Adjusted EBITDA and Adjusted EBITDA Margin are also helpful to investors, analysts, and other interested parties because they can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. Grindr excludes the above items as some are non-cash in nature, and others are non-recurring that they may not be representative of normal operating results. Adjusted EBITDA and Adjusted EBITDA margin adjust for the impact of items that Grindr does not consider indicative of the operational performance of our business. While Grindr believes that these non-GAAP financial measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute for the related financial information prepared and presented in accordance with GAAP.

$ in thousands			Q4 2022				Q4 2021			FY 2022				FY 2021
Net income		$	5,195			$	6,497			$	852			$	5,064
Interest expense, net (1)			20,540				3,835				31,538				18,698
Income tax (benefit) expense			(4,586	)			1,450				(859	)			1,236
Depreciation and amortization			10,291				10,700				37,506				43,234
Transaction-related costs (2)			4,288				876				6,499				3,854
Litigation related costs (3)			201				535				1,722				1,913
Stock-based compensation expense			5,233				679				28,586				2,485
Management fees (4)			100				185				644				728
Purchase accounting adjustment			-				8				-				900
Other income (5)			(552	)			(1,409	)			-				(1,058	)
Change in fair value of warrant liability (6)			(21,295	)			-				(21,295	)			-
Adjusted EBITDA		$	19,415			$	23,356			$	85,193			$	77,054

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About Grindr Inc.

With roughly 12 million monthly active users in virtually every country in the world, Grindr has grown to become a fundamental part of the queer community since its launch in 2009. The company continues to expand its ecosystem to enable gay, bi, trans and queer people to connect, express themselves, and discover the world around them. Grindr is headquartered in West Hollywood, California. The Grindr app is available on the App Store and Google Play.

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