GRND at a glance
The past year
Chart+0.3% $14.83, close Nov 13
- From the highest close
- −17.4%
- Vs the 200-day average
- +8.1%
Short interest
History10.1M shares
- Of shares outstanding
- 5.69%
- Since the last report
- +20.8%
- Days to cover
- 5.1 days
- Settled
- Oct 30, 2026
Insider buying, 7 days
FilingsNone filed this week
- Form 4s filed
- Nov 9 – Nov 15
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
GRND price history
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Investment thesis
What must happen next
Grindr remains the default LGBTQ connection network, so community liquidity—not generic dating-app growth—continues to pull users, subscribers, and advertisers into the app.StrengtheningMateriality: High
Annual GAAP revenue increased from $195.0 million in FY2022 to $259.7 million in FY2023, $344.6 million in FY2024, and $439.9 million in FY2025. If the network remains the default venue, Grindr can grow with limited paid acquisition; if liquidity migrates, the revenue base becomes much less defensible.
Watch: Scruff, Sniffies, Hornet, Jack’d, Tinder, Bumble, or Hinge show sustained LGBTQ user engagement gains that reduce Grindr’s local network liquidity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP revenue increased from $195.0 million in FY2022 to $259.7 million in FY2023, $344.6 million in FY2024, and $439.9.
Open source ↗Grindr can keep converting existing community demand into paid features and advertising yield without relying on discounting or paid acquisition that would erode the value proposition.StrengtheningMateriality: High
Annual GAAP operating income rose from $13.0 million in FY2022 to $55.4 million in FY2023, $92.6 million in FY2024, and $126.3 million in FY2025. This is the difference between high-quality monetization of a scarce network and revenue growth bought at the expense of margins.
Watch: Users reject price increases, subscription tier changes, or paid gating of core features, creating visible backlash before revenue rolls over.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating income rose from $13.0 million in FY2022 to $55.4 million in FY2023, $92.6 million in FY2024, and.
Open source ↗The app’s software economics and focused workforce allow incremental monetization to become operating cash flow rather than being consumed by physical expansion or large service-delivery costs.StrengtheningMateriality: Medium
Annual GAAP operating cash flow increased from $36.1 million in FY2023 to $95.0 million in FY2024 and $141.5 million in FY2025. If cash conversion holds, Grindr can fund product, safety, debt reduction, and potential buybacks internally; if it breaks, headline growth is worth less.
Watch: New age-verification, content-moderation, privacy, or safety rules require a step-change in compliance headcount or third-party trust-and-safety spending.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating cash flow increased from $36.1 million in FY2023 to $95.0 million in FY2024 and $141.5 million in.
Open source ↗Sustained cash generation can shift Grindr from balance-sheet repair toward owner-friendly optionality rather than creditor-driven decisions.StrengtheningMateriality: Medium
Total liabilities declined from $610.7 million at FY2024 year-end to $484.0 million at FY2025 year-end. A cleaner balance sheet increases strategic flexibility; a relapse into leverage or liabilities would make the equity more fragile.
Watch: Management pursues debt-funded acquisitions, dividends, or buybacks before leverage is durably reduced.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Total liabilities declined from $610.7 million at FY2024 year-end to $484.0 million at FY2025 year-end.
Open source ↗Capital-structure and compensation discipline must let operating leverage accrue to each share instead of being offset by dilution or non-operating charges.HoldingMateriality: Medium
Annual GAAP diluted EPS improved from $(0.32) in FY2023 and $(0.74) in FY2024 to $0.43 in FY2025. Owners are paid per share, so attractive app economics only create equity value if they survive below the operating line.
Watch: Large equity grants, warrant-related issuance, or share-based acquisition consideration materially increase diluted share count.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP diluted EPS improved from $(0.32) in FY2023 and $(0.74) in FY2024 to $0.43 in FY2025.
Open source ↗
Full investment case & evidence
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Original research
Grindr remains the default LGBTQ connection network, so community liquidity—not generic dating-app growth—continues to pull users, subscribers, and advertisers into the app. If the network remains the default venue, Grindr can grow with limited paid acquisition; if liquidity migrates, the revenue base becomes much less defensible.
Grindr can keep converting existing community demand into paid features and advertising yield without relying on discounting or paid acquisition that would erode the value proposition. This is the difference between high-quality monetization of a scarce network and revenue growth bought at the expense of margins.
The app’s software economics and focused workforce allow incremental monetization to become operating cash flow rather than being consumed by physical expansion or large service-delivery costs. If cash conversion holds, Grindr can fund product, safety, debt reduction, and potential buybacks internally; if it breaks, headline growth is worth less.
Sustained cash generation can shift Grindr from balance-sheet repair toward owner-friendly optionality rather than creditor-driven decisions. A cleaner balance sheet increases strategic flexibility; a relapse into leverage or liabilities would make the equity more fragile.
Capital-structure and compensation discipline must let operating leverage accrue to each share instead of being offset by dilution or non-operating charges. Owners are paid per share, so attractive app economics only create equity value if they survive below the operating line.
All standing thesis claims
Original report summary
its LGBTQ-specific network remains the default place for community connection and management keeps monetizing that liquidity without damaging user trust.
Bull case and bear case
Bull case and bear case for Grindr
Where the evidence on Grindr stands: Holding on the latest evidence (Oct 13, 2026). Of its 5 thesis points, 4 strengthening and 1 holding.
Bull case: what the evidence supports
Grindr remains the default LGBTQ connection network, so community liquidity—not generic dating-app growth—continues to pull users, subscribers, and advertisers into the app.
Grindr can keep converting existing community demand into paid features and advertising yield without relying on discounting or paid acquisition that would erode the value proposition.
The app’s software economics and focused workforce allow incremental monetization to become operating cash flow rather than being consumed by physical expansion or large service-delivery costs.
Sustained cash generation can shift Grindr from balance-sheet repair toward owner-friendly optionality rather than creditor-driven decisions.
Capital-structure and compensation discipline must let operating leverage accrue to each share instead of being offset by dilution or non-operating charges.
Bear case: what would count against it
Scruff, Sniffies, Hornet, Jack’d, Tinder, Bumble, or Hinge show sustained LGBTQ user engagement gains that reduce Grindr’s local network liquidity.
Users reject price increases, subscription tier changes, or paid gating of core features, creating visible backlash before revenue rolls over.
New age-verification, content-moderation, privacy, or safety rules require a step-change in compliance headcount or third-party trust-and-safety spending.
Thesis-Break Engine
What has broken in Grindr’s thesis
Each break OptimistFi flagged on Grindr, dated — with what has historically followed the same kind of break across the market, not a forecast for Grindr.
- Insider-selling clustercondition set before this filing
Across all companies, this kind of break has happened 9,137 times before. Those stocks beat comparable companies by a median of 1% over the next six months, and 30% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedCompleted an acquisition or disposition of assets.
Grindr filed an SEC 8-K on 2026-09-30: Completed an acquisition or disposition of assets. It is a dated development that tests the current thesis.
- MixedOther material event.
Grindr filed an SEC 8-K on 2026-09-04: Other material event. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Grindr filed an SEC 8-K on 2026-08-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Scruff, Sniffies, Hornet, Jack’d, Tinder, Bumble, or Hinge show sustained LGBTQ user engagement gains that reduce Grindr’s local network liquidity.
- Users reject price increases, subscription tier changes, or paid gating of core features, creating visible backlash before revenue rolls over.
- New age-verification, content-moderation, privacy, or safety rules require a step-change in compliance headcount or third-party trust-and-safety spending.
- Management pursues debt-funded acquisitions, dividends, or buybacks before leverage is durably reduced.
- Large equity grants, warrant-related issuance, or share-based acquisition consideration materially increase diluted share count.
GRND news
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Financial statements
GRND income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
GRND: quick answers
- When does Grindr (GRND) report earnings next?
- Grindr's next results are projected for February 25, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 5, 2026. Earnings calendar
- What is GRND's short interest?
- As of October 30, 2026, 10.1M GRND shares were sold short, 5.69% of its shares outstanding, up 20.8% from the count before. At the stock's average daily volume that is 5.1 days to cover. FINRA publishes the count twice a month. GRND short interest history