GRNDGrindr Inc.
Services-Computer Programming, Data Processing, Etc.
- Revenue
- $440M
- 28% YoY
- Operating margin
- 28.7%
- 6.8% YoY
- EBITDA
- $135M
- 23% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 2.8×
- $380M net debt
- AI in 10-K
- —
Red flags 3 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear149% of net incomeCash flow under 80% of net income
- Dilutive SBCFired12% of revenueOver 10% of revenue
- Payouts exceed cash flowFired318% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired60% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $146M | $195M | $260M | $345M | $440M | 28% |
| Operating income | $24M | $13M | $55M | $93M | $126M | 36% |
| Net income | $5M | $852K | −$56M | −$131M | $95M | 172% |
| Operating cash flow | $34M | $51M | $36M | $95M | $142M | 49% |
| Capex | $269K | $430K | $509K | $945K | $746K | 21% |
| Stock-based comp | $3M | $28M | $16M | $37M | $55M | 46% |
| Buybacks | — | — | $0 | $0 | $451M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $56M | $33M | 382 | 244 |
| FY2024 | $7M | $40M | 384 | 209 |
| FY2023 | $6M | $16M | 189 | 162 |