Bumble Inc (BMBL) 2023 Q4 法說會逐字稿

Yes, hello, and welcome to the Bumble fourth-quarter 2023 financial results conference call.

是的，您好，歡迎參加 Bumble 2023 年第四季財務業績電話會議。

My name is Elliott, and I'll be coordinating your call today.

我叫艾利歐特，今天我將協調您的電話。

(Operator Instructions)

（操作員說明）

Now like to hand over to Cherryl Valenzuela, Vice President of Investor Relations.

現在請交給投資人關係副總裁 Cherryl Valenzuela。

The floor is yours.

地板是你的。

Please go ahead.

請繼續。

Thank you, Elliot.

謝謝你，艾利奧特。

Thank you for joining us to discuss Bumble's fourth-quarter and full year 2023 financial results.

感謝您與我們一起討論 Bumble 第四季和 2023 年全年財務業績。

With me today are Lidiane Jones, CEO, and Anu Subramanian, CFO of Bumble.

今天與我在一起的有 Bumble 執行長 Lidiane Jones 和財務長 Anu Subramanian。

Before we begin, I'd like to remind everyone that certain statements made on this call today are forward looking statements.

在開始之前，我想提醒大家，今天在電話會議上所做的某些陳述屬於前瞻性陳述。

These forward looking statements are subject to various risks and uncertainties and reflect our current expectations based on our belief, assumptions and information currently available to us.

這些前瞻性陳述受到各種風險和不確定性的影響，並反映了我們基於我們的信念、假設和目前可獲得的資訊的當前預期。

Although we believe these expectations are reasonable, we undertake no obligation to revise any statement to reflect changes that occur after this call.

儘管我們認為這些期望是合理的，但我們沒有義務修改任何聲明以反映本次電話會議後所發生的變更。

Descriptions of factors and risks that could cause actual results to differ materially from these forward-looking statements are discussed in more detail in our earnings press release and filings with the SEC, including our annual report on Form 10-K for the year ended December 31st, 2022, and our subsequent periodic filings.

我們的收益新聞稿和向SEC 提交的文件（包括截至12 月31 日的年度10-K 表格年度報告）中更詳細地討論了可能導致實際結果與這些前瞻性陳述存在重大差異的因素和風險的描述、2022 年以及我們隨後的定期備案。

During the call.

通話過程中。

We also refer to certain non-GAAP financial measures.

我們也參考了某些非公認會計準則財務指標。

These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from our GAAP results.

這些非公認會計原則措施應作為我們公認會計原則結果的補充，而不是替代或孤立於我們的公認會計原則結果。

Reconciliations to the most comparable GAAP measures are available in today's earnings press release, which is available on the Investor Relations section of our website at ir.bumble.com.

今天的收益新聞稿中提供了與最具可比性的 GAAP 指標的對賬，該新聞稿可在我們網站 ir.bumble.com 的投資者關係部分找到。

With that, I'll turn it over to Lidiane.

這樣，我就把它交給 Lidiane。

Thank you, Cherryl, and good afternoon, everyone.

謝謝你，謝麗爾，大家下午好。

It's an honor to join all of you today for my first earnings call as Bumble CEO.

今天很榮幸能與大家一起參加我作為 Bumble 執行長的第一次財報電話會議。

I want to sincerely thank Whitney for her continued partnership.

我要真誠地感謝惠特尼的持續合作。

To the founder, who's a pioneer for women who has built an incredible company that has created lasting value for customers.

感謝創辦人，她是女性的先驅，她建立了一家令人難以置信的公司，為客戶創造了持久的價值。

I also want to thank the Board for their confidence and trust in me, and the entire Bumble team for their support during my onboarding.

我還要感謝董事會對我的信心和信任，以及整個 Bumble 團隊在我入職期間的支持。

From the first time I met Whitney and proceeded to meet our employees and many of our customers, the impact Bumble has had on so many people's lives has been inspiring to me.

從我第一次見到惠特尼，到與我們的員工和許多客戶見面，Bumble 對許多人的生活所產生的影響一直激勵著我。

As a longtime tech leader for both consumer and enterprise businesses, I joined Bumble because I felt deeply drawn to its mission to create healthy and equitable relationships, and by the impact Bumble has had in helping millions of people around the world find love, connection, companionship, and friendship.

作為消費者和企業業務的長期技術領導者，我加入 Bumble 是因為我對其創建健康和公平關係的使命深深吸引，並且 Bumble 在幫助世界各地數百萬人找到愛、聯繫、陪伴和友誼。

Since its founding, Bumble powerful brands have in aggregate, served a passionate customer base of hundreds of millions of customers in more than 160 countries around the world.

自成立以來，Bumble 強大的品牌已累積服務全球 160 多個國家數億客戶的熱情客戶群。

I have now been with Bumble for two months, and I'm even more convinced of the opportunities that lie ahead of us.

我現在已經在 Bumble 工作兩個月了，我更相信眼前的機會。

I have met and connected with dozens of our customers, fully immersed myself in our products and technology, dove deeply in all aspects of our business, and have seen firsthand the caliber of talent we have with our employees.

我與數十位客戶會面並建立了聯繫，完全沉浸在我們的產品和技術中，深入研究了我們業務的各個方面，並親眼目睹了我們員工的人才素質。

I'm a product leader at heart, and I'm truly excited to help unlock the company's potential by building innovative products that lead our customers to find love and connection throughout their lives.

我本質上是一名產品領導者，我真的很高興能夠透過開發創新產品來幫助釋放公司的潛力，引導我們的客戶在一生中找到愛和連結。

The global addressable market for online dating remains strong, with about 2 billion single people around the globe, and we see continued demand and opportunities to drive growth in this market.

全球線上約會市場依然強勁，全球約有 20 億單身人士，我們看到了推動該市場成長的持續需求和機會。

We're well positioned to capture this opportunity with the strong brands and assets in our portfolio.

憑藉我們投資組合中的強大品牌和資產，我們已做好充分準備抓住這一機會。

At the same time, I took this role knowing that the online dating industry hasn't seen true innovation in several years, and the population of active users is undergoing a generational transition that rightfully expect more from their experiences.

同時，我擔任這個角色時知道，線上約會行業已經好幾年沒有看到真正的創新了，而且活躍用戶群體正在經歷代際轉變，他們理所當然地對他們的體驗抱有更多期望。

We're not immune to these dynamics, and we have also had some company-specific execution challenges that disproportionately affect the Bumble app, and have impacted our company's near term outlook reflected into these guidance.

我們不能倖免於這些動態，我們也遇到了一些公司特定的執行挑戰，這些挑戰對 Bumble 應用程式產生了不成比例的影響，並影響了我們公司在這些指導中反映的近期前景。

We're taking significant and decisive actions to address these issues.

我們正在採取重大而果斷的行動來解決這些問題。

Over the past 18 months, we launched a number of new features and Bumble app, which while individually promising have in aggregate, slowed the overall outperformance and cluttered the user experience.

在過去的 18 個月裡，我們推出了許多新功能和 Bumble 應用程序，雖然單獨來看很有希望，但總的來說，卻減緩了整體表現並擾亂了用戶體驗。

Additionally, our new pricing tier introduced last December Premium Plus has also not had a clear enough product market fit.

此外，我們去年 12 月推出的新定價等級 Premium Plus 也沒有足夠明確的產品市場契合度。

These are things we strongly believe are in our control to solve, and we're doing so with four major steps.

我們堅信這些問題是我們能夠控制解決的，我們將透過四個主要步驟來實現這一目標。

First, in Q2 of this year, we plan to reignite Bumble strength by relaunching Bumble app with a compelling modern experience geared toward capturing a broader audience and aimed at having a stronger appeal to younger users, using the profile creation experience, optimizing the core performance of the app and strengthening our AI capabilities to enhance fake account detection and brain profile picture insights to lead our customers to success faster.

首先，在今年第二季度，我們計劃透過重新推出Bumble 應用程式來重新激發Bumble 的實力，該應用程式具有引人注目的現代體驗，旨在吸引更廣泛的受眾，並旨在對年輕用戶產生更強大的吸引力，利用個人資料創建體驗，優化核心性能的應用程式並增強我們的人工智慧功能，以增強虛假帳戶檢測和大腦輪廓圖片洞察力，從而引導我們的客戶更快地取得成功。

As a part of this release, we will also revamp our Premium Plus offering these efforts will be a significant moment of evolution for us in bringing women's empowerment to the core of our experience.

作為此版本的一部分，我們還將改進我們的 Premium Plus 服務，這些努力將成為我們將女性賦權納入體驗核心的重要變革時刻。

This relaunch will also provide us with a strong platform for ongoing innovation it will come with a new marketing campaign across our core markets, extending our reach and showcasing the benefits of our offerings.

此次重新啟動也將為我們提供持續創新的強大平台，並將在我們的核心市場開展新的行銷活動，擴大我們的影響力並展示我們產品的優勢。

This is the first major overhaul of Bumble app in the past two years.

這是過去兩年來 Bumble 應用程式的首次重大修改。

And I'm very proud of our team for embracing a faster pace of innovation and marking the start of a new phase of customer experiences in the online dating category.

我為我們的團隊擁抱更快的創新步伐並標誌著線上約會類別客戶體驗新階段的開始感到非常自豪。

Second, I recognize that to sustainably reaccelerate growth, we must drive further innovation the operationally excellent and be more attuned to our customers' needs.

其次，我認識到，為了永續地重新加速成長，我們必須推動進一步的創新、卓越的營運並更適應客戶的需求。

To that end, earlier today, we announced a transformation plan that will return us to a functional operating model that will foster better collaboration across our apps and allow us to deliver a comprehensive portfolio of experiences to our customers centralize our mission critical teams, including engineering product and fewer locations; removed layers to accelerate decision-making; and speed to market and eliminate duplicate roles to drive stronger operating leverage.

為此，今天早些時候，我們宣布了一項轉型計劃，該計劃將使我們恢復到功能性運營模式，從而促進我們的應用程式之間更好的協作，並使我們能夠為客戶提供全面的體驗組合，集中我們的關鍵任務團隊，包括工程團隊產品和更少的地點；消除層級以加速決策；加快上市速度並消除重複角色，以推動更強大的營運槓桿。

We just think the size of our team is an extremely difficult decision.

我們只是認為我們團隊的規模是一個極其困難的決定。

And I'm incredibly grateful to all of our employees for the role they played in getting Bumble to where it is today.

我非常感謝所有員工為 Bumble 取得今天的成就所發揮的作用。

We will do all that we can to support affected colleagues during this time, rightsizing the company will help us unlock our ability to deliver long-term growth by greatly improving our operational efficiency, agility and speed and enable us to reinvest a portion of our expected savings in critical foundational capabilities, including dating innovation with the AI, machine learning and safety, differentiated experiences that will drive our future.

在此期間，我們將竭盡全力支持受影響的同事，調整公司規模將幫助我們透過大幅提高營運效率、敏捷性和速度來釋放實現長期成長的能力，並使我們能夠將部分預期資金進行再投資。關鍵基礎能力的節省，包括人工智慧約會創新、機器學習和安全，以及將推動我們未來發展的差異化體驗。

We'll remain laser focused on execution during this time of transition.

在這個過渡時期，我們將繼續專注於執行。

Third, we are updating our bundling strategy and innovation roadmap to take advantage of our more agile development platform.

第三，我們正在更新我們的捆綁策略和創新路線圖，以利用我們更敏捷的開發平台。

My vision for Bumble is to lead the online dating industry and connections at-large with a more positive experience for users around the globe.

我對 Bumble 的願景是引領線上約會產業和廣泛的聯繫，為全球用戶提供更積極的體驗。

As a technologist, I have been really impressed by the unique data center knowledge and intellectual property from what has related to personalization matching and safety that has been deeply tune to Bumble guidelines.

作為一名技術專家，我對獨特的資料中心知識和智慧財產權印象深刻，這些知識和智慧財產權與個人化匹配和安全性相關，這些知識和安全性已深入符合 Bumble 指南。

We will lean on this technical foundation and emerging technologies like generative AI to bring product innovations to meet the demand we see in the market.

我們將依靠這項技術基礎和生成式人工智慧等新興技術來帶來產品創新，以滿足我們在市場上看到的需求。

We'll do this while staying true to our mission and focus our innovation to accelerate human connection and encourage equitable and healthy relationship.

我們將在實現這一目標的同時，恪守我們的使命，集中創新，加速人與人之間的聯繫，鼓勵公平和健康的關係。

Bumble has always been about more than dating, and we have seen significant customer demands for friendship and platonic connections throughout different phases of life.

Bumble 一直不只是約會，我們已經看到客戶在人生的不同階段對友誼和柏拉圖式聯繫的巨大需求。

But candidly, we have been slow to realize this broader vision with Bumble BFF thus far.

但坦白說，到目前為止，我們在與 Bumble BFF 實現這一更廣泛願景方面進展緩慢。

Going forward, we will focus our reinvestments to accelerate a bolder strategy from Bumble for fans.

展望未來，我們將專注於再投資，以加速 Bumble 為粉絲推出更大膽的策略。

One of them is focused on building equitable and seek friendships across communities of people with similar interests than what real life connections we plan to bring along the millions of customers we currently have in our base that are eager to continue to be part of our platform.

其中之一是專注於在具有相似興趣的人們社區之間建立公平的友誼，而不是在現實生活中建立聯繫，我們計劃為我們目前擁有的數百萬渴望繼續成為我們平台一部分的客戶帶來聯繫。

We'll have more to share about our full company's strategy and product road map in the months ahead.

我們將在未來幾個月分享更多有關我們整個公司的策略和產品路線圖的資訊。

Finally, to bring our strategy to life, we recently strengthened our executive team with three talented new leaders who will be instrumental in driving the vision for Bumble future.

最後，為了將我們的策略付諸實踐，我們最近加強了我們的執行團隊，聘請了三位才華橫溢的新領導者，他們將在推動 Bumble 未來願景方面發揮重要作用。

I'm excited to welcome Ali Rayl as Chief Product Officer; Antoine Leblond as Chief Technology Officer; and David Art as Chief People Officer.

我很高興歡迎 Ali Rayl 擔任首席產品長； Antoine Leblond 擔任技術長；大衛·阿特 (David Art) 擔任首席人力官。

Ali most recently served as Senior Vice President of Product at Fox overseeing Slack's customer experience and communication platform, along with user safety and customer support.

Ali 最近擔任 Fox 產品資深副總裁，負責監督 Slack 的客戶體驗和通訊平台，以及使用者安全和客戶支援。

As a member of Aflac's founding team alleys experience overseeing viral user growth will be invaluable to Bumble.

作為 Aflac 創始團隊的成員，監督病毒式用戶成長的經驗對 Bumble 來說是無價的。

Antoine previously served as Senior Vice President of Software Engineering at Sonus and had a 25 year leadership tenure at Microsoft prior to that driving platform growth at scale across several businesses.

Antoine 先前曾擔任 Sonus 的軟體工程高級副總裁，並在 Microsoft 擔任了 25 年的領導職務，之後推動了多個業務的平台大規模增長。

His experience, innovating and scaling effectively will be paramount.

他的經驗、創新和有效擴展將至關重要。

Stephen joins us from Salesforce where he served as head of employee success, leading the people strategy, business partner teams and benefit across global teams and previously served in people leadership roles at Equinox and GAP.

在加入我們之前，Stephen 曾在 Salesforce 擔任員工成功主管，領導全球團隊的人才策略、業務合作夥伴團隊和福利，此前曾在 Equinox 和 GAP 擔任人才領導職務。

Finally, I am thrilled to announce that Selby Drummond has been promoted to Chief Marketing Officer for Bumble Inc. Selby will oversee both brand and marketing, bringing her extensive experience from companies such as Snap and Vogue to optimize the performance of marketing investments and expand the reach of our brands globally.

最後，我很高興地宣布，Selby Drummond 已晉升為Bumble Inc. 的首席行銷長。Selby 將負責品牌和行銷工作，利用她在Snap 和Vogue 等公司的豐富經驗，優化行銷投資的績效並擴大業務範圍。我們的品牌在全球的影響力。

With Ali, Antoine, Selby and David leading critical functions of our business, along with existing executive leaders who have the context of the company and the industry.

Ali、Antoine、Selby 和 David 以及熟悉公司和行業背景的現有執行領導一起領導我們業務的關鍵職能。

We are well equipped to drive breakthrough innovation, advance our mission and drive our business back to strong growth given the strength of our financial position today and as we update our broader strategic plan in the coming months, we will also be evaluating the best use of capital for Bumble to drive value creation and long term growth of our business.

鑑於我們目前的財務狀況，我們有能力推動突破性創新、推進我們的使命並推動我們的業務恢復強勁增長，隨著我們在未來幾個月更新更廣泛的戰略計劃，我們還將評估最佳利用為Bumble 提供資金，以推動我們業務的價值創造和長期成長。

The steps we're taking today set the stage for our next chapter of growth.

我們今天採取的步驟為我們的下一個成長篇章奠定了基礎。

We have work to do, but you have my full commitment that will innovate and sharpen our focus on execution to create a durable foundation for our business.

我們還有工作要做，但我會全力以赴，我們將創新並加強對執行的關注，為我們的業務奠定持久的基礎。

I look forward to meeting our stakeholders to better understand their needs in the weeks and months ahead, and we'll be open and transparent in communicating progress on our strategy as we move forward.

我期待在未來幾週和幾個月內與我們的利害關係人會面，以便更好地了解他們的需求，隨著我們的前進，我們將公開透明地溝通我們策略的進展。

But before I turn it to Anu, I want to express that I'm tremendously honored to be leading this talented and passionate Bumble team in the pursuit of bundles, founding mission.

但在我把它交給 Anu 之前，我想表達的是，我非常榮幸能夠領導這個才華橫溢、充滿激情的 Bumble 團隊來追求捆綁、創始使命。

With our renewed vision and focus, we have an exciting journey ahead of us, and I am thrilled to be leading our team to realize the incredible opportunity ahead on behalf of our customers, our employees and our shareholders.

憑藉我們新的願景和重點，我們將迎來一段令人興奮的旅程，我很高興能夠領導我們的團隊代表我們的客戶、員工和股東實現未來的難以置信的機會。

And with that, I'll turn it over to Anu who has been a close partner since the start.

接下來，我將把它交給阿努，他從一開始就一直是我的親密夥伴。

Thank you, Lidiane.

謝謝你，利黛安。

A warm welcome again to Bumble, and I look forward to our continued partnership and good afternoon, everyone.

再次熱烈歡迎 Bumble，我期待我們繼續合作，大家下午好。

I'll walk you through our Q4 and full year 2023 results and then share more about our outlook for the first quarter and full year 2024.

我將向您介紹我們的第四季和 2023 年全年業績，然後分享更多關於我們對 2024 年第一季和全年的展望。

Unless stated otherwise, all comparisons are on a year-over-year basis.

除非另有說明，所有比較均以同比為基礎。

Total Banglalink revenue in Q4 increased 13% to $274 million, in line with our outlook.

Banglalink 第四季總營收成長 13%，達到 2.74 億美元，與我們的預期一致。

Revenue was driven by a 16% increase in paying users with contributions from both Bumble and Badoo apps.

收入的成長得益於 Bumble 和 Badoo 應用程式的付費用戶增加了 16%。

The growth in paying users was offset by a 2% decrease in our people, but revenue from Bumble app increased 16% to $221 million.

付費用戶的成長被我們員工數量減少 2% 所抵消，但 Bumble 應用程式的收入增加了 16%，達到 2.21 億美元。

Number of paying users increased 21% to $2.7 million, and we added 83,000 paying users sequentially.

付費用戶數量成長 21%，達到 270 萬美元，付費用戶數量連續增加 83,000 名。

The increase in paying users was driven by a combination of growth in active users as well as payer penetration.

付費用戶的成長是由活躍用戶的成長和付費用戶滲透率的共同推動的。

Summing up, our people declined 4% to $27.37, primarily due to geographic mix shift within many of our top individual markets, we achieved our people growth as a result of pricing optimizations and higher consumable mix.

總而言之，我們的員工人數下降了 4%，至 27.37 美元，這主要是由於我們許多頂級個人市場內的地理組合變化，我們透過定價優化和更高的消費品組合實現了員工成長。

Badoo app and other revenue was $53 million, up 4%.

Badoo 應用程式和其他收入為 5,300 萬美元，成長 4%。

We continue to make meaningful progress towards Badoo stabilization and return to growth, driven by a well-received brand refresh and update of the app's user experience.

在廣受好評的品牌更新和應用程式用戶體驗更新的推動下，我們繼續在 Badoo 穩定和恢復成長方面取得有意義的進展。

We are encouraged by the continued traction we are seeing in the business.

我們對業務的持續成長感到鼓舞。

We do app and other paying users grew 8% to $1.3 million, up 66,000 sequentially.

我們的應用程式和其他付費用戶成長了 8%，達到 130 萬美元，比上一季增加 66,000 人。

Starting in Q4 2023.

從 2023 年第四季開始。

We have begun, including contributions from fruit in Badoo app and other key operating metrics of paying users.

我們已經開始，包括 Badoo 應用程式中水果的貢獻以及付費用戶的其他關鍵營運指標。

And our people, excluding float paying users, increased 19,000 from Q3 to Q4 2023, Badoo app and other, our people grew 2% to $12.69. Excluding float, our people declined 1% year over year.

我們的員工（不包括浮動付費用戶）從 2023 年第三季到第四季度增加了 19,000 人，Badoo 應用程式和其他應用程序，我們的員工成長了 2% 至 12.69 美元。排除流動資金，我們的員工數量較去年同期下降了 1%。

Turning now to expenses.

現在轉向費用。

We continued to spend with discipline driving consistent leverage in line with our targets for the year, while investing in our apps and infrastructure to support continued growth.

我們繼續按照我們的年度目標嚴格支出，推動槓桿率保持一致，同時投資於我們的應用程式和基礎設施以支援持續成長。

Total GAAP costs and expenses were $280 million for the quarter and on a non-GAAP basis excluding stock-based compensation and other noncash or nonrecurring items, total costs and expenses were up 10% to $200 million.

本季 GAAP 成本和費用總額為 2.8 億美元，以非 GAAP 計算，不包括股票薪酬和其他非現金或非經常性項目，總成本和費用增加 10%，達到 2 億美元。

Cost of revenue was $79 million and grew 19% as a percentage of revenue, cost of revenue was 29% versus 28% in the year-ago period.

收入成本為 7,900 萬美元，佔收入的百分比增長了 19%，收入成本為 29%，而去年同期為 28%。

Sales and marketing expenses grew 8% to $70 million.

銷售和行銷費用成長 8%，達到 7,000 萬美元。

This represents 26% of revenue versus 27% in the year-ago period.

這佔收入的 26%，而去年同期為 27%。

G&A expenses were $30 million or 11% of revenue compared to $32 million or 13% of revenue last year.

G&A 費用為 3,000 萬美元，佔收入的 11%，而去年為 3,200 萬美元，佔收入的 13%。

Product development expenses were $21 million or 8% of revenue versus $18 million or 8% in the year ago period.

產品開發費用為 2,100 萬美元，佔營收的 8%，而去年同期為 1,800 萬美元，佔營收的 8%。

Q4 GAAP net loss was $32 million compared to a loss of $159 million in the year ago period.

第四季 GAAP 淨虧損為 3,200 萬美元，去年同期淨虧損為 1.59 億美元。

As a reminder, last year's Q4 included an impairment charge of 141 million related to Baidu brand.

提醒一下，去年第四季包括與百度品牌相關的1.41億美元減損費用。

Q4 adjusted EBITDA was $74 million, representing a margin of 27%, consistent with our outlook for full year 2023, total Bumble Inc. Revenue grew 16% year over year to $$1.052 billion, in line with our guidance.

第四季調整後 EBITDA 為 7,400 萬美元，利潤率為 27%，與我們對 2023 年全年的展望一致。Bumble Inc. 總營收年增 16%，達到 10.52 億美元，與我們的指引一致。

Revenue from Bumble app grew 22% to $845 million.

Bumble 應用程式的營收成長了 22%，達到 8.45 億美元。

Paying users grew 26% to 2.5 million.

付費用戶成長 26%，達到 250 萬。

We grew paying users by more than 500,000 for a second consecutive year.

我們的付費用戶數量連續第二年成長超過 50 萬。

Our GAAP net loss for full year 2023 was $2 million compared to net loss of $114 million in 2022.

我們 2023 年全年的 GAAP 淨虧損為 200 萬美元，而 2022 年的淨虧損為 1.14 億美元。

Adjusted EBITDA was $276 million, representing 26% margin, up 110 basis points.

調整後 EBITDA 為 2.76 億美元，利潤率為 26%，上升 110 個基點。

Our strong operating results and disciplined spending also enabled us to deliver a 43% increase in free cash flow to $167 million in 2023.

我們強勁的經營業績和嚴格的支出也使我們的自由現金流在 2023 年成長了 43%，達到 1.67 億美元。

Further strengthening our balance sheet.

進一步強化我們的資產負債表。

We ended the year with $356 million in cash and cash equivalents.

年底，我們擁有 3.56 億美元的現金和現金等價物。

During the fourth quarter, we repurchased $136 million worth of shares under our current stock repurchase authorization, including $100 million worth of shares repurchased directly from Blackstone.

第四季度，我們根據當前股票回購授權回購了價值 1.36 億美元的股票，其中包括直接從 Blackstone 回購的價值 1 億美元的股票。

At the end of Q4, we had $143 million remaining in our authorization.

截至第四季末，我們的授權餘額為 1.43 億美元。

And as of today's call, we have $123 million left.

截至今天的電話會議，我們還剩下 1.23 億美元。

We remain very committed to our buyback program.

我們仍然非常致力於我們的回購計劃。

Now moving on to our outlook for 2024.

現在我們展望 2024 年。

As Leon just mentioned, we are adjusting our 2024 revenue outlook to reflect Bumble app slower than expected start to the year and our specific execution challenges, we feel confident that these issues are within our control and we are actively working to resolve them.

正如Leon 剛才提到的，我們正在調整2024 年的收入前景，以反映Bumble 應用程式年初速度慢於預期以及我們的具體執行挑戰，我們相信這些問題在我們的控制範圍內，並且我們正在積極努力解決這些問題。

We expect that the Q2 relaunch of Bumble app, along with the launch of other key features on our product roadmap, will reaccelerate growth in the second half of 2024.

我們預計，第二季 Bumble 應用程式的重新推出，以及我們產品路線圖上其他關鍵功能的推出，將在 2024 年下半年重新加速成長。

As a result, portfolio 2024, we estimate total Bumble Inc revenue growth rate of 8% to 11%.

因此，我們預計 2024 年 Bumble Inc 的總收入成長率為 8% 至 11%。

This assumes FX will be approximately one point headwind during the year.

這假設外匯在這一年將出現大約一個點的逆風。

We expect Bumble app revenue to grow between 9% to 11% year over year.

我們預計 Bumble 應用收入將年增 9% 至 11%。

Our Bumble app revenue outlook includes expectations for full year net adds of approximately 350 to 400,000.

我們的 Bumble 應用收入展望包括全年淨增加約 350 至 400,000 的預期。

On the cost side, the bold actions we announced today around our workforce transformation allow us to gain significant operating leverage and put us on a strong path towards our goal to continue expanding margins.

在成本方面，我們今天宣布的圍繞勞動力轉型的大膽行動使我們獲得了顯著的營運槓桿，並使我們朝著繼續擴大利潤率的目標邁出了堅實的道路。

We estimate future annualized OpEx savings from this workforce reduction to be approximately 55 million of which we expect to selectively reinvest approximately $15 million in areas of product engineering, safety and brand that will help drive long-term growth.

我們預計，透過此次裁員，未來的年化營運支出將節省約 5,500 萬美元，我們預計將有選擇地將約 1,500 萬美元再投資於產品工程、安全和品牌領域，以幫助推動長期成長。

As a result, for 2024, we expect at least 300 basis points of year-over-year adjusted EBITDA margin expansion in 2024, we expect to incur approximately 20 to 25 million of severance and other related charges, primarily in the first half related to this transformation and our adjusted EBITDA outlook excludes the impact of these charges.

因此，對於 2024 年，我們預計 2024 年調整後 EBITDA 利潤率將同比增長至少 300 個基點，我們預計將產生約 20 至 2500 萬遣散費和其他相關費用，主要是在上半年這一轉變和我們調整後的EBITDA 前景排除了這些費用的影響。

For Q1, we expect total revenue between 262,000,268 million, representing a growth rate between 8% to 10%.

對於第一季度，我們預計總收入在 262,000,268 百萬美元之間，成長率在 8%至 10%之間。

We expect Bumble app revenue to be between 211,000,215 million, representing a growth rate between 9% and 11%.

我們預計 Bumble 應用收入將在 211,000,215 百萬美元之間，成長率在 9% 至 11% 之間。

Our Bumble app revenue outlook includes expectations for sequential net adds of approximately 30,000 to 40,000.

我們的 Bumble 應用程式收入展望包括預計連續淨增加約 30,000 至 40,000 個。

In Q1, we estimate adjusted EBITDA will be between 67,000,070 million dollars, representing 26% margin at the midpoint of the range in closing while we have more work ahead of us, we've already taken swift and decisive steps to optimize our operating model, rightsize our team and attract new leadership.

在第一季度，我們預計調整後的EBITDA 將在67,000,070 百萬美元之間，相當於收盤區間中點的26% 利潤率，同時我們還有更多的工作要做，我們已經採取了迅速而果斷的步驟來優化我們的營運模式，調整我們的團隊規模並吸引新的領導層。

We believe that the actions we are taking will accelerate our realization of the tremendous opportunity that exists in the global online dating market and beyond the power of our brands, user affinity and our guiding mission provide us with a very strong foundation to build upon.

我們相信，我們正在採取的行動將加速我們實現全球線上約會市場中存在的巨大機遇，超越我們品牌的力量、用戶親和力和我們的指導使命，為我們提供了堅實的基礎。

And we are confident that the execution of the plans we shared with you today will enable us to achieve long-term profitable growth while driving significant value for our shareholders for many years to come.

我們相信，今天與您分享的計劃的執行將使我們能夠實現長期的盈利增長，同時在未來許多年為我們的股東帶來巨大的價值。

And with that, I'll turn it over to the operator for Q&A.

然後，我會將其轉交給操作員進行問答。

Thank you.

謝謝。

Thank you.

謝謝。

(Operator Instructions)

（操作員說明）

Alexandra Steiger, Goldman Sachs.

亞歷珊卓·施泰格，高盛。

Great, and thank you so much for taking my question, maybe one for Leon in one for new.

太好了，非常感謝您提出我的問題，也許一個問題是針對萊昂的，一個是針對新的。

So I'll first of all, thank you for laying out your priorities for the company.

首先，我感謝您為公司列出了優先事項。

But coming in from the outside, where do you see the biggest opportunities for Bumble over the next few months, either in terms of unlocking additional user growth or driving our people?

但從外部角度來看，您認為 Bumble 在接下來的幾個月中最大的機會在哪裡，無論是在釋放更多用戶成長方面還是在推動我們的員工方面？

And what do you think is currently most under appreciated by the investor community.

您認為目前投資人群體最低估的是什麼？

And then one follow-up for new on the 24 guidance.

然後是 24 日新指南的後續行動。

So I do want to ask about your updated 24 guide and some of the assumptions that went into it now that, you know, Q1 is calling for more pronounced deceleration of growth.

因此，我確實想詢問您更新的 24 小時指南以及其中的一些假設，因為您知道，第一季要求成長更加明顯減速。

So could you maybe talk about what you're seeing in the business today that is informing your view?

那麼您能否談談您今天在業界所看到的、影響您觀點的事情？

And in that context, could you also elaborate a little bit more on like the execution challenges you referenced in your prepared remarks?

在這種情況下，您能否詳細說明您在準備好的發言中提到的執行挑戰？

Thank you.

謝謝。

Thank you, Alex, for the question.

謝謝你，亞歷克斯，提出問題。

I am just thrilled to be here and honored to lead this organization.

我很高興來到這裡並很榮幸能領導這個組織。

I came to Bumble because I saw tremendous opportunity looking at the Company.

我來到 Bumble 是因為我看到了該公司的巨大機會。

Overall, as we've heard from Mike our prepared remarks, the Company has reached about 200 million or beyond our users globally over time.

總體而言，正如我們從 Mike 那裡聽到的我們準備好的發言一樣，隨著時間的推移，公司在全球的用戶數量已達到約 2 億或更多。

This is an incredible base, and we have a brand that over the course of the 10 years continues to be strong.

這是一個令人難以置信的基礎，我們的品牌在過去 10 年裡一直保持強勁。

In fact, it is the best brand and that favorability among large online dating apps.

事實上，它是大型線上約會應用程式中最好的品牌和好感度。

I see a tremendous opportunity ahead.

我看到了巨大的機會。

But what I am saying here, the reason I'm highlighting here is because I saw a lot of opportunity to innovate across our product portfolio.

但我在這裡所說的，我在這裡強調的原因是因為我看到了我們的產品組合中有很多創新的機會。

So as you offered us share.

正如您向我們提供的分享。

We are going to relaunch in the near term in Q2 Bumble app and the three launch represents one of the largest revamps of the app over the course of the last two years.

我們將在近期在第二季度重新推出 Bumble 應用程序，這三項發布是過去兩年來該應用程式最大的改進之一。

And what we want to do here is completely modernize the experience to speak to a broader audience.

我們想在這裡做的是完全現代化的體驗，以便與更廣泛的受眾交流。

We believe there is a lot of opportunity to create a more human, more connected experience that will help dating be a desirable experience for users again.

我們相信，有很多機會可以創造一種更人性化、更互聯的體驗，這將有助於約會再次成為用戶理想的體驗。

And that's what I'm thrilled to be investing our resources and seeing the team take this new pace of innovation to get this product up for our customers.

這就是我很高興能夠投入我們的資源並看到團隊採取新的創新步伐為我們的客戶提供該產品的原因。

And so that's from a near-term perspective.

這是從近期角度來看的。

In addition to that, we see a tremendous amount of opportunity to continue to invest in international markets, the markets like Germany, Spain, France, in Western Europe overall as well as some targeted markets like Mexico and India.

除此之外，我們看到了繼續投資國際市場的巨大機會，包括德國、西班牙、法國等整個西歐市場以及墨西哥和印度等一些目標市場。

But we're seeing really strong growth.

但我們看到了非常強勁的成長。

We're going to continue to invest in that long term.

我們將繼續進行長期投資。

I think there's a lot of opportunity for innovation in the category itself, and I haven't seen such a tremendous disconnect.

我認為該類別本身有很多創新機會，而且我還沒有看到如此巨大的脫節。

Between a huge demand and a lack of innovation.

巨大的需求和缺乏創新之間。

I think that is our biggest opportunity ahead.

我認為這是我們未來最大的機會。

And when I think about what investors should be thinking about, it's that we have outstanding Honeywell following of customers over the last couple of months, I've had the opportunity to meet dozens of customers, and many of them will tell you stories about how much they have been impacted by Bumble.

當我思考投資者應該考慮什麼時，我們在過去的幾個月裡擁有出色的霍尼韋爾客戶追隨者，我有機會見到了數十位客戶，他們中的許多人都會向您講述如何他們深受Bumble 的影響。

I met a bubble drama last week or so.

上週左右我遇到了一場泡沫劇。

People carry the brand in different parts of their lives.

人們在生活的不同方面都攜帶著這個品牌。

We are going to double down on the fact that we have a strong affinity to our brand.

我們將加倍努力，因為我們對我們的品牌有很強的親和力。

This is part of what I view.

這是我的部分看法。

We wanted to continue to invest and things like Bumble for Friends where we can bring our base with us with a differentiated set of experiences.

我們希望繼續投資 Bumble for Friends 等項目，為我們的用戶帶來一系列差異化的體驗。

So I hope our investors are equally excited about realizing the potential that we see the capacity running for the second part of the question.

因此，我希望我們的投資者同樣對實現問題第二部分的產能運作潛力感到興奮。

Sure.

當然。

Thankfully, on Helix.

值得慶幸的是，在 Helix 上。

So maybe I'll just add break down the guidance a little bit from starting with Bumble app and what has changed for us from our prior guidance.

因此，也許我會從 Bumble 應用程式開始對指南進行一些細分，以及我們之前的指南發生了哪些變化。

So while our top of the funnel has remained strong in many of our global markets, we are seeing a slower than expected start to the year, primarily in the US and the usual Q1 seasonal rebound that we normally expect to see has been less pronounced than in the past.

因此，雖然我們在許多全球市場的漏斗頂部仍然保持強勁，但我們看到今年開局的速度比預期要慢，主要是在美國，而且我們通常預期看到的第一季季節性反彈並不比預期明顯。在過去。

And second, as Manny said in her prepared remarks, some of the newer products such as premium plus, which we launched at the end of December.

其次，正如 Manny 在她準備好的演講中所說，我們在 12 月底推出了一些新產品，例如 Premium Plus。

While has they have been revenue positive, they are not showing the incremental uplift that we would like to see and that we had originally anticipated.

雖然他們的收入一直為正，但他們並沒有顯示出我們希望看到的和我們最初預期的增量成長。

And so for these reasons, we are adjusting our revenue outlook for Bumble app to be 9% to 11% for the full year.

因此，基於這些原因，我們將 Bumble 應用程式的全年收入預期調整為 9% 至 11%。

And as you've heard today, we are taking immediate and swift action to make the changes that we need to make to the product roadmap with the planned relaunch of the app in Q2, which will be accompanied by the marketing campaign.

正如您今天所聽到的，我們正在立即採取迅速行動，對產品路線圖進行必要的更改，併計劃在第二季度重新啟動該應用程序，同時還將開展營銷活動。

We expect that our revenue will accelerate in the second half post this launch.

我們預計我們的收入將在此次發布後的下半年加速。

And then we have a slew of other features that we are excited about on the product roadmap that we will then proceed to launch trip in the second half of the year.

然後，我們在產品路線圖上還有許多令我們興奮的其他功能，我們將在今年下半年繼續推出這些功能。

So hopefully that gives you a flavor for how we're thinking about a Bumble app for the rest of the year.

希望這能讓您了解我們如何考慮今年剩餘時間的 Bumble 應用程式。

Very helpful.

很有幫助。

Thank you.

謝謝。

Andrew Marok, Raymond James.

安德魯馬羅克，雷蒙詹姆斯。

Thank you for taking your questions.

感謝您提出問題。

So when you talk about the Bumble app relaunch appealing to a broader set of users, I guess, could you elaborate on that a little bit.

因此，當您談到重新推出 Bumble 應用程式以吸引更廣泛的用戶時，我想您是否可以詳細說明一下。

Are there different cohorts of users either by age or market or some other segmentation that the current version as we can with that, you can shore up or is that maybe net new audience segments?

是否存在按年齡、市場或其他細分劃分的不同用戶群體，當前版本可以支援這一點，或者這可能是淨新的受眾群體？

Andrew, great question.

安德魯，好問題。

We believe that there's a couple of different components in the product development, and this has been one of the best parts of joining.

我們相信產品開發中有幾個不同的組成部分，這是加入的最佳部分之一。

Bob was diving deeply into our product, our innovation, and we believe that there is an opportunity for us.

鮑伯正在深入研究我們的產品和創新，我們相信我們有機會。

We see a completely modern experience to continue to serve the set of customers that are part of our customer base today and are very excited about what we already deliver, but also that we can be more approachable to a set of users that are younger.

我們看到了一種完全現代的體驗，可以繼續為我們今天的客戶群提供服務，並對我們已經提供的服務感到非常興奮，而且我們可以更平易近人地對待年輕的用戶。

And that means a completely different tone of voice and different profile creation and different kind of illustrations and brand refresh.

這意味著完全不同的語氣、不同的個人資料創建以及不同類型的插圖和品牌更新。

Overall, this is going to allow us to expand that reach, especially in markets like the US market, where we have seen a little bit more headwind.

總體而言，這將使我們能夠擴大影響範圍，特別是在美國市場等市場，我們在這些市場上遇到了更多的阻力。

In addition to that, there are other things that I think are going to be really important for us.

除此之外，我認為還有其他事情對我們來說非常重要。

This release, it's really going to be very focused to the core of what our mission has been all about, which is putting at the forefront of our experiences, the women's experiences and safety.

這個版本確實將非常關注我們使命的核心，即把我們的體驗、女性的體驗和安全放在首位。

So we are really optimizing for ensuring that we have high quality profile creation, a very easy to use our process for that profile creation, additional set of safety capabilities that's going to help our customers be more successful.

因此，我們確實在進行最佳化，以確保我們擁有高品質的配置文件創建、非常易於使用的配置文件創建流程以及額外的安全功能，這將幫助我們的客戶取得更大的成功。

We believe these kind of things are going to bring a more balanced set of customers across different segments in different markets.

我們相信，這類事情將為不同市場的不同細分市場帶來更平衡的客戶群。

And so we're really, really excited about that.

所以我們對此感到非常非常興奮。

This is more about expansion and reigniting our own core, which we think or drive growth for us.

這更多的是關於擴張和重新點燃我們自己的核心，我們認為這是或推動我們的成長。

Great.

偉大的。

Thank you.

謝謝。

And maybe related a little bit.

也許有一點關係。

I mean, you hear anecdotal reports about younger users maybe being a little bit more hesitant or discouraged to engage with and then pay for online dating services.

我的意思是，您會聽到一些軼事報道稱，年輕用戶可能會更加猶豫或不願參與線上約會服務並為其付費。

So I think you spoke a little bit about your top of funnel still being strong and a lot of the changes that you've outlined for the Bumble app relaunch.

所以我認為你談到了你的漏斗頂部仍然很強大，以及你為 Bumble 應用程式重新啟動概述的許多變化。

But I guess, are there any points where you would directly be able to push back against those those narratives this year?

但我想，今年你是否可以直接反駁這些說法？

Thank you.

謝謝。

Yes, no, it's a great, great point.

是的，不，這是一個非常非常好的觀點。

I certainly have heard that as well as has come into that market.

我當然聽說過並且已經進入了這個市場。

And I think there is a generational transition that we are seeing and we have to be really thoughtful about how we bring our customers along our journey because we have a lot of users today that love the paradigm of the online dating industry opinion discovery and searching, but there's also a set of users that want more flexibility to be able to experience and discover people in a more organic and natural way.

我認為我們正在看到一個代際轉變，我們必須認真考慮如何帶領我們的客戶走上我們的旅程，因為今天我們有很多用戶喜歡在線約會行業意見發現和搜索的範式，但也有一些用戶希望獲得更大的靈活性，以便能夠以更有機、更自然的方式體驗和發現人們。

Our goal is to but this Q2 launch as just the start of an ongoing innovation for our users.

我們的目標是，第二季的發布只是為我們的用戶持續創新的開始。

And we want to we will be focused on listening and evolving the experience and based on what our users, especially younger users are telling.

我們希望我們將專注於傾聽和改進體驗，並根據我們的用戶，尤其是年輕用戶的回饋。

So you can expect a sort of personal vision and flexibility over time based on what we do learn from our users.

因此，隨著時間的推移，根據我們從用戶那裡學到的東西，您可以期待一種個人願景和靈活性。

We think there is an opportunity to approach younger users differently to meet the needs of more organic discovery of on friendships companionship love and beyond.

我們認為有機會以不同的方式接觸年輕用戶，以滿足更有機地發現友誼、陪伴、愛情及其他方面的需求。

So I am really I think that's one of the most exciting parts of being a great product persona is that you get to navigate the different experiences and flexibility is going to be a really big part of how we believe the category and certainly our own product development will be on following.

所以我真的認為，成為一個偉大的產品角色最令人興奮的部分之一就是你可以駕馭不同的體驗，靈活性將成為我們如何相信這個類別以及我們自己的產品開發的一個非常重要的部分將在以下。

Cory Carpenter, JPMorgan.

科里·卡彭特，摩根大通。

Catherine you mentioned earlier in the call the 1Q seasonal rebound being less pronounced in the U.S. than the US.

凱瑟琳（Catherine）您之前在電話會議中提到，美國第一季的季節性反彈沒有美國那麼明顯。

Curious what you think is driving that?

好奇你認為是什麼推動了這一點？

How much of that is bundles specific versus broader industry trends?

其中有多少是特定於捆綁包的，而不是更廣泛的行業趨勢？

And then on the product side, you mentioned challenges of premium plus, but curious what you're seeing with some of your other recent product launches by complements ASPs in the lower price tier in the role those could play in the US in the brand refresh for the app refresh?

然後在產品方面，您提到了溢價附加的挑戰，但很好奇您在最近推出的其他一些產品中看到了什麼，透過補充較低價格層的 ASP，這些產品在美國品牌更新中可以發揮的作用用於應用程式刷新？

Thank you.

謝謝。

Thank you, Corey.

謝謝你，科里。

I certainly as far as you've all seen download data and on Pillar user data for the industry.

我當然知道你們都看到了業界的下載資料和 Pillar 用戶資料。

And there has been a pattern of slowdown oftentimes for us specifically, as you heard from, will tend to NI.

正如您所聽到的，我們經常出現一種放緩的模式，特別是NI。

We have had some internal execution challenges, but have not really delivered a cohesive set of experiences that we want to de-lever.

我們在內部執行方面遇到了一些挑戰，但尚未真正提供我們想要消除槓桿作用的一套有凝聚力的體驗。

But we have seen pockets of really great positive success competences as a really great one of them.

但我們已經看到一些真正偉大的積極成功能力是其中一個真正的偉大的能力。

So what we're doing now with the three launch is really looking end-to-end from the experience, what pieces of product experiences have relaunched that have added benefit raises that we want to not only keep but also enhance and which ones we think are not necessarily adding value.

因此，我們現在在推出這三款產品時所做的實際上是從體驗中進行端到端的研究，重新推出了哪些產品體驗，這些體驗增加了我們不僅希望保留而且希望增強的福利，以及我們認為哪些體驗不一定能增加價值。

That Visa is a great example of an experience that really is tailored for users, but we've seen some mixed results.

Visa 是真正為用戶量身定制體驗的一個很好的例子，但我們看到了一些好壞參半的結果。

So we think there is a great opportunity there, but we want to enhance overall on a set of capabilities that drives that portion of our experience.

因此，我們認為那裡有一個很好的機會，但我們希望整體增強一系列能力，以推動我們這部分經驗的發展。

So our release now is going to be aimed at addressing a lot of these execution challenges so that as a whole the experience will feel very cohesive for our customers.

因此，我們現在發布的版本旨在解決許多執行挑戰，以便整體上為我們的客戶帶來非常有凝聚力的體驗。

And you did touch on the tiering.

你確實談到了分層。

Let me unpack that a tiny bit.

讓我稍微解開一下。

From a premium plus perspective.

從溢價+角度來看。

We absolutely believe in subscription tiers, different customers want to have different set of experiences, and it provides a strong monetization strategy for us.

我們絕對相信訂閱級別，不同的客戶希望擁有不同的體驗，這為我們提供了強大的貨幣化策略。

So we that model is certainly one that we want to maintain what we have found is our premium plus Tencent really well in its early days.

因此，我們當然希望維持這種模式，因為我們發現我們的溢價加上騰訊在早期表現得非常好。

But as we expanded so broader audience, we didn't see a sustainability of that particular tier with a lot of our users.

但隨著我們擴大受眾範圍，我們並沒有看到該特定級別的大量用戶具有可持續性。

And what we have found is that there wasn't enough differentiation from one tier to the other.

我們發現，一層與另一層之間沒有足夠的差異。

There is still a lot of demand and not enough differentiation to keep our users there.

仍然有很多需求，但沒有足夠的差異化來留住我們的用戶。

So what we are focused on with this launch and we'll be evolving our beyond the initial launch is creating a very crisp differentiation.

因此，我們這次發布的重點以及我們將在最初發布的基礎上不斷發展的重點是創造一個非常清晰的差異化。

So that we drive more users towards higher end tiers with the value that they will feel good about around so that we can sustain those users there.

這樣，我們就能將更多的使用者推向更高階的層級，讓他們感覺良好，這樣我們就能留住這些使用者。

The base tier what we have found is that we are the addition of that base tier was adding more items hurdles for our users, the adoption of the larger tiers and the higher end tiers than we put a pause on these two for now.

我們發現基礎層的增加為我們的用戶增加了更多的專案障礙，採用更大的層和更高端的層比我們暫時暫停這兩個層。

Our goal is to simplify the set of experiences so that we get the most value and the highest altitude for the users that are coming into Bumble in this launch.

我們的目標是簡化體驗集，以便為此發布的 Bumble 用戶獲得最大的價值和最高的體驗。

And then we'll revisit that based here as we get on Bumble app out and we get some feedback from the set of experiences launch so a lot going on, but very, very excited about this launch.

然後，當我們推出 Bumble 應用程式時，我們將在此基礎上重新審視這一點，我們從一系列體驗發布中獲得了一些反饋，雖然發生了很多事情，但對這次發布非常非常興奮。

Shweta Khajuria, Evercore ISI.

Shweta Khajuria，Evercore ISI。

Thank you for taking my questions and maybe any one for you.

感謝您提出我的問題，也許還有您的問題。

Where do you see the lowest hanging fruit on innovation on the product as you think about across the platform?

當您考慮整個平台時，您認為產品創新中最容易實現的成果在哪裡？

And then for Anu, Could you please help us with marketing spend how you're thinking through the year from Q1 to Q4 as you think about the product launches coming in?

然後，對於 Anu，您能否幫助我們了解從第一季到第四季的行銷支出，以及您在考慮即將推出的產品時的想法？

Thanks a lot.

多謝。

Great to me and thanks for the questions.

對我來說很好，謝謝你的提問。

In terms of low hanging fruit, what we're going to do most immediately with our April launch is reducing points of friction in one of the things that I certain facts is that we did have a lot of capabilities.

就容易實現的目標而言，我們在四月發佈時最立即要做的就是減少摩擦點，我確定的事實之一是我們確實擁有很多功能。

I was adding just more confusion for our customers.

我只是為我們的客戶增加了更多的困惑。

So this is one of the reasons why we're doing a full revamp of the experiences so that we can feel we feel what that experience is like for users and to and so that we can address right away.

因此，這就是我們對體驗進行全面改造的原因之一，以便我們能夠感受到使用者的體驗是什麼樣的，以便我們可以立即解決。

But let me tell you what I think is one of the most exciting things that I've seen since I got here and I've been in products for ever and coming from our many years of consumer and enterprise background.

但讓我告訴你，自從我來到這裡以來，我所看到的最令人興奮的事情之一是，我一直從事產品工作，並且擁有多年的消費者和企業背景。

Nice seen here that we have 10 years of strong customer data that has been very, very turned out with a lot of information about users' preferences, behavior, learnings and patterns and what we have been doing safety capabilities for the past 10 years from day one.

很高興看到我們擁有 10 年的強大客戶數據，這些數據非常非常豐富，其中包含有關用戶偏好、行為、學習和模式的大量信息，以及過去 10 年來我們在安全功能方面所做的工作一。

So a lot of them now a lot of technology that has been focused on safety for our users.

所以現在他們中的許多技術都專注於我們用戶的安全。

That is the biggest potential for us near term and long term because we can not only use in other various technologies that I'm sure you're all hearing about with generative AI land, we can use all of that, but really fine tune to what is unique and powerful to tumble.

這是我們近期和長期的最大潛力，因為我們不僅可以在其他各種技術中使用，我相信你們都聽說過生成式人工智慧領域，我們可以使用所有這些技術，但真的可以微調什麼是獨特且強大的翻滾。

And that is one of our biggest assets and one that I am particularly excited about.

這是我們最大的資產之一，也是我特別興奮的資產之一。

But let me pass it to Andy to talk about our marketing spend.

但讓我把它交給安迪來談談我們的行銷支出。

It has been transitioning over so quickly on marketing spend just at a high level.

它在行銷支出方面的轉變速度非常快，而且處於高水準。

So we are intending to create leverage on our marketing spend line item.

因此，我們打算為我們的行銷支出項目創造槓桿作用。

We've consistently been saying we want to get more efficient.

我們一直在說我們希望提高效率。

We want to make sure that we have the highest standards in terms of ROI.

我們希望確保我們在投資回報率方面擁有最高標準。

So compared to where we were in 2023 in terms of marketing as a percentage of revenue you should see in 2020 for that line item, see some leverage in terms of how we expect spend to come about over the course of the year so you should be I see us spend more in the first half of the year than we will in the second half of the year.

因此，與 2023 年的行銷佔收入百分比相比，您應該在 2020 年看到該訂單項目的情況，看看我們預計在這一年中如何實現支出，因此您應該我發現我們上半年的支出比下半年還要多。

So we will start spending more in Q1, leading up into our Q2 launch more than Q2 as well as a percentage of revenue.

因此，我們將在第一季開始增加支出，從而在第二季推出時投入比第二季更高的支出以及收入的一定比例。

And then you'll start to see the marketing spend is up as a percentage of revenue in Q3 and Q4 as revenue starts to ramp up as well.

然後，隨著收入也開始增加，您將開始看到第三季和第四季的行銷支出佔收入的百分比上升。

So that and at a high level, how we are thinking about marketing spend now as we always say we have a high bar for how we think about ROI for our spend, both for our brands and as well as for our growth marketing.

因此，在高水平上，我們現在如何考慮行銷支出，正如我們總是說的那樣，我們對支出投資回報率的考慮有很高的標準，無論是對於我們的品牌還是對於我們的成長行銷。

So that is something that we take a look at on a market by market basis as well as depending on what's happening from a product perspective.

因此，我們會根據市場的情況以及從產品的角度來看正在發生的事情。

So you will see you'll see us continue to do that, yes.

所以你會看到你會看到我們繼續這樣做，是的。

Ygal Arounian, Citi.

伊加爾·阿魯尼安，花旗銀行。

First question, just on the margin expansion and the investment and I guess what you're reinvesting on the cost of resizing Liliana coming in.

第一個問題，關於利潤率擴張和投資，我猜你在調整莉莉安娜規模的成本上進行了再投資。

Are you talking about kind of significant investments in relaunching the Bumble app, accelerating the product roadmap and transforming Bumble in general.

您是在談論重新啟動 Bumble 應用程式、加速產品路線圖和整體改造 Bumble 方面的重大投資嗎？

Can you just talk about are you it got to this level of framework or pave way to think about in terms of the right level of investment and then I guess on PFS also, just a little bit more color on what you've seen there and what some of the things there that you plan to do on the product road map to trying to get that to accelerate or ramp up as well?

你能談談你是否達到了這個級別的框架，或者為考慮正確的投資水平鋪平了道路，然後我想在 PFS 上也是如此，只是你在那裡看到的內容有更多的色彩，您計劃在產品路線圖上做哪些事情來加速或提升產品路線圖？

Yes.

是的。

Great.

偉大的。

Great lot.

非常多。

Great points of the question there.

那裡的問題很重要。

So let me tackle them coming into Bumble.

那麼讓我來解決 Bumble 中的問題。

The immediate opportunity about iSOFT for us, especially with the brand that we have is the ability to serve our customers beyond just dating is to create a portfolio of experiences that we can bring our customers along with us and new starts retaining that customer base for a much longer period of time.

iSOFT 對我們來說最直接的機會，特別是我們擁有的品牌，不僅能夠為我們的客戶提供約會之外的服務，還可以創建一系列體驗，讓我們的客戶與我們同行，並為新的開始留住客戶群。更長的一段時間。

So from dating to France to official and he will provide a cohesive experience.

因此，從約會法國到正式出訪，他都會提供有凝聚力的體驗。

So picture that is our directional vision that has been the foundation of how we've framed this transformation that you've heard from us today.

因此，想像一下我們的方向性願景，它是我們如何建立您今天從我們這裡聽到的這一轉型的基礎。

And I want to acknowledge days of difficult day for all of our employees at Bumble.

我要向 Bumble 的所有員工致以誠摯的謝意。

We are saying goodbye to a lot of colleagues that have played a big role in making Bumble.

我們要向許多在《Bumble》製作過程中扮演重要角色的同事道別。

What it is today.

今天是什麼。

So I appreciate all that our employees have done for us.

因此，我感謝我們的員工為我們所做的一切。

But the foundation of this transformation is how do we organize to fulfill this vision for our customers as quickly as we can.

但這種轉變的基礎是我們如何組織起來盡快為客戶實現這個願景。

And that has been the foundation of organizing back into functional model so that we are bringing technical and product leaders that know how to build platform at scale so that we can gain the most amount of leverage from our innovation and our resources and our investments.

這是組織回歸功能模型的基礎，以便我們帶來知道如何大規模建立平台的技術和產品領導者，以便我們能夠從我們的創新、我們的資源和我們的投資中獲得最大的影響力。

And I'm thrilled to welcome Ali announced one with the right experience that they have to help us realize that.

我很高興歡迎阿里宣布了一個具有正確經驗的人，他們必須幫助我們實現這一點。

And with that in mind, we've really focused all of our innovation transformation decisions based on speed and agility.

考慮到這一點，我們真正將所有創新轉型決策的重點放在了速度和敏捷性上。

We've centralized some of our product engineering investments to allow us to go more quickly and drive decision-making more effectively and a big part of what we want to do in terms of reinvestment and to the second part of your question is reallocating some of our resources into the areas where we see the biggest opportunity for growth.

我們集中了一些產品工程投資，使我們能夠更快地行動並更有效地推動決策，我們在再投資方面想做的很大一部分是重新分配一些我們將資源投入到我們認為最具成長機會的領域。

And we see growth innovation on the dating segment so bringing in more AI, more data and more safety, our talent organization so that we can truly drive a more transformative set of innovation into the category and into Bumble for France.

我們看到約會領域的創新不斷增長，因此我們的人才組織引入了更多的人工智慧、更多的數據和更高的安全性，以便我們能夠真正為該類別和法國的Bumble 推動更具變革性的創新。

So let me unpack that just a little bit, but it will be a fast has had just a really small but strong problem.

因此，讓我稍微解開一下這個問題，但這將是一個非常小但嚴重的問題。

And the reason for that is that we have been using the same paradigm for BFS as we have today and one variously one to one match for friendships.

原因是我們一直在使用與今天相同的 BFS 範式，以及一對一的友誼比賽。

You're really limiting the set of users that are comfortable with that paradigm.

您確實限制了對該範例感到滿意的使用者群組。

And what we want to do is actually shift that paradigm and making Bumble for France, a lot more about building and finding communities.

我們想做的實際上是改變這個範式，為法國製作 Bumble，更多是關於建立和尋找社區。

And this is truly what our customers are telling us they love being part of our platform.

這確實是我們的客戶告訴我們的，他們喜歡成為我們平台的一部分。

It's really hard to connect with each other.

彼此之間真的很難建立連結。

So we are really going to accelerate the investment in that and I'm really looking forward to sharing more with all of you in the coming months as we sharpen our overall strategy.

因此，我們確實將加快這方面的投資，我真的很期待在未來幾個月內與大家分享更多信息，因為我們正在完善我們的整體戰略。

Justin Patterson, KeyBanc Capital Markets.

賈斯汀·帕特森 (Justin Patterson)，KeyBanc 資本市場。

Miles Jakubiak on for Justin. and maybe to start with the R&D that was done a good job of stabilizing that do business?

邁爾斯·雅庫比亞克替補賈斯汀。也許可以從在穩定業務方面做得很好的研發開始？

And just what are you seeing in that business to start and how the confidence level on maintaining that stabilization and returning growth to that business as it seems to be coming with no more important part of the equation.

您在該業務中看到了什麼，以及對該業務保持穩定和恢復成長的信心水平如何，因為它似乎沒有更重要的部分。

And then just on the full year revenue guidance, maybe just some puts and takes on the macro factors.

然後就全年收入指引而言，也許只是宏觀因素的一些看跌期權和承擔。

The macro environment factored within that guidance?

該指導意見中考慮了宏觀環境嗎？

And then just more broadly, how do you feel about the current macro environment relative to the end of 2023?

更廣泛地說，您對 2023 年底當前的宏觀環境有何看法？

Thank you, Mr. Myles, do you know what it's been fascinating coming to the company and learning all of the transformation that we have already gone through with the BI to relaunch of last year.

謝謝你，邁爾斯先生，你知道來到公司並了解我們去年重新啟動的 BI 所經歷的所有轉變是一件令人著迷的事情嗎？

And it's been going really well.

一切進展順利。

It's been a steady improvement to the customer engagement overall satisfaction.

客戶參與度整體滿意度穩定提升。

And as you're seeing in our results as steadier growth to our business, we're really excited about the progress the team has made there, and we're going to continue to stay focused on our transformation.

正如您在我們的業績中看到的那樣，我們的業務成長更加穩定，我們對團隊在這方面取得的進展感到非常興奮，我們將繼續專注於我們的轉型。

We believe we've really focused on delivering confident fading, which has been a core of that strategy, and it's resonating really well to our customers that believe in continuing to push that forward because it's a very important part of our business, as you called out and in terms of our macro, I'll pass to you, but I do want to call out that we really are I certainly see a massive opportunity into the category overall, and it really is going to be a key focus for us, too, if we listen to our customers in terms of the decisions that we make and the investments that we make, but I do want to provide a little bit more color into the macro environment.

我們相信，我們確實專注於提供自信的褪色，這是該策略的核心，並且它與我們的客戶產生了很好的共鳴，他們相信繼續推動這一目標，因為正如您所說，這是我們業務的非常重要的一部分就我們的宏觀而言，我會向您傳遞，但我確實想指出，我們確實是這樣，我確實看到了整個類別的巨大機會，這確實將成為我們的重點關注點，同樣，如果我們在做出的決策和投資方面聽取客戶的意見，但我確實想為宏觀環境提供更多的色彩。

Sure.

當然。

So before I touch on my right, I wanted to follow up on the earlier comments by video because we didn't talk about it in the context of guidance.

因此，在我談到我的權利之前，我想透過影片跟進先前的評論，因為我們沒有在指導的背景下討論它。

We've been very pleased with reduced performance.

我們對性能下降感到非常滿意。

As we've said, it's performing well.

正如我們所說，它表現良好。

It has stable growth and in many of its top markets, we are seeing strong growth across several metrics.

它具有穩定的成長，並且在許多頂級市場中，我們看到多個指標的強勁成長。

So the mean we've not made any overall changes to our assumptions from when we last provided guidance to now in terms of how we do another confirmatory, we continue to be very pleased to have added.

因此，這意味著從我們上次提供指導到現在就如何進行另一項確認而言，我們沒有對我們的假設做出任何總體改變，我們仍然非常高興地補充說。

And as you've seen from a net adds perspective as well as the deal is starting to turn positive.

正如您從淨增加的角度看到的那樣，交易開始變得積極。

And in all, throughout this year, we expect to see Badoo being flat to positive in terms of net adds every quarter.

總而言之，今年全年，我們預計 Badoo 每季的淨增量將持平至正值。

So again, very pleased with the with the performance there.

再說一次，我對那裡的表現非常滿意。

In terms of how we've thought about macro in our guidance, as I mentioned earlier, we are seeing some slow slowness in our top of the funnel trends in in primarily the US and where obviously the macro impact is probably more pronounced.

就我們在指導中如何看待宏觀而言，正如我之前提到的，我們看到主要在美國的漏斗頂部趨勢出現了一些緩慢的變化，顯然宏觀影響可能更為明顯。

We are seeing it, as we've said before, with our younger customers as well.

正如我們之前所說，我們在年輕客戶中也看到了這一點。

So we do think that there is an element of macro playing into some of the softness that we're seeing.

因此，我們確實認為，宏觀因素影響了我們所看到的一些疲軟狀況。

So we've made assumptions around how we think it progresses to the rest of the year.

因此，我們對今年剩餘時間的進展做出了假設。

In terms of what we are seeing today.

就我們今天所看到的情況而言。

And then the goal is that when the product launch happens in the second half of the year, the product starts to really resonate with our customers and we are able to turn the dial up in terms of payer penetration in our people and ultimately revenue because somebody on these points are, you know, the core job to be done from from Bumble app perspective is making sure that we give the customers the best possible experience, and that's what we are heavily focused on.

然後的目標是，當產品在下半年推出時，該產品開始真正與我們的客戶產生共鳴，我們能夠提高付款人在我們員工中的滲透率並最終增加收入，因為有人您知道，從Bumble 應用程式的角度來看，在這些點上要做的核心工作是確保我們為客戶提供盡可能最佳的體驗，而這正是我們重點關注的。

And that's what you'll see us talk of backlog through this year.

這就是我們今年談論的積壓情況。

Benjamin Black, Deutsche Bank.

班傑明·布萊克，德意志銀行。

Great.

偉大的。

Thank you for taking my question, some to the idea of a bigger picture question for you on just the online dating market in general, there are obviously concerns approaching maturity or saturation.

感謝您提出我的問題，有些人想為您提出一個更大的問題，就整個線上約會市場而言，顯然存在接近成熟或飽和的擔憂。

So when you're contemplating taking on the role and as CEO of Bumble, what did you see specifically that gave you confidence that the end market growth is still so very attractive and perhaps one for Arno, too, it would be just great to hear sort of a capital allocation policy update.

因此，當您考慮擔任 Bumble 的執行長時，您具體看到了什麼讓您相信終端市場的成長仍然非常有吸引力，也許對 Arno 來說也是如此，很高興聽到某種資本配置政策更新。

Just, you know, just given that the broader changes in leadership here, are you potentially open to taking out more leverage to sort of fund some of your initiatives.

只是，你知道，考慮到這裡領導層發生了更廣泛的變化，你是否可能願意利用更多槓桿來為你的一些舉措提供資金。

I would be curious to hear what that.

我很想聽聽那是什麼。

Thank you.

謝謝。

And Benjamin, thank you for that question.

班傑明，謝謝你提出這個問題。

Certainly had read a lot of reports about the category about considering that the rule for E&I and find if you if you look at the data and Joe ourselves as well, but it's interesting disconnect.

當然，你已經讀過很多關於考慮 E&I 規則的類別的報告，如果你看看數據和喬自己，你會發現，但這是有趣的脫節。

The demand for connection and love continues to be really strong 2 billion single people around the globe, yet the products that are bearing the set of experiences to create those connections are not serving users the way that they want you out as I'm sure disconnect was what got me most excited about taking this job, especially here at Bumble, where I felt so compelled to the mission and the fundamentals of the Company.

全球 20 億單身人士對聯繫和愛的需求仍然非常強勁，但承載著創建這些聯繫的一系列體驗的產品並沒有按照用戶希望的方式為用戶提供服務，因為我確信斷開連接是讓我接受這份工作最興奮的地方，尤其是在Bumble，我對公司的使命和基本面感到非常迫切。

The brand and financial strength are so positive.

品牌和資金實力都是如此積極。

I believe when Apple launched the eyes on our people are also talking about why it was someone entering a mature unit smartphone category.

我相信當蘋果推出時，我們人們的目光也在談論為什麼有人會進入成熟的智慧型手機類別。

It is innovation and detail to the Polish experience of our users that drive change.

推動變革的是我們用戶的波蘭體驗的創新和細節。

So I'm excited to bring a fresh perspective to the category.

因此，我很高興能為該類別帶來新的視角。

But certainly we're focused on our customers and our company, and we believe we can really meet the needs of the users that are currently there, the demand is there.

但我們當然專注於我們的客戶和我們的公司，我們相信我們能夠真正滿足當前用戶的需求，需求就在那裡。

We just have to to meet it.

我們只需要滿足它。

So truly truly excited about being here.

來到這裡真的很興奮。

And then just quickly on capital allocation profitability.

然後很快就資本配置獲利能力。

I mean, I've been spending a lot of time since she started reviewing our capital allocation policy and you're at a high level that the themes that we have given you all in the past are still very much the themes that we are focused on, which is number one, focusing on the organic growth of our business.

我的意思是，自從她開始審查我們的資本配置政策以來，我已經花了很多時間，而且您處於很高的水平，我們過去為您提供的主題仍然是我們關注的主題第一，專注於我們業務的有機成長。

And we continue to be opportunistic in terms of thinking about M&A.

我們在考慮併購方面繼續保持機會主義態度。

Again, the bar for M&A is very high for us.

同樣，併購的門檻對我們來說非常高。

And lastly, our commitment to returning cash back to shareholders continues to be very high as you've seen, and we did the transaction in Q4 where we bought shares directly from Blackstone, and we've continued to buy into 2024 as well.

最後，正如您所看到的，我們對向股東返還現金的承諾仍然非常高，我們在第四季度進行了交易，直接從 Blackstone 購買了股票，我們也繼續購買到 2024 年。

So our commitment around returning cash continues to be high obviously, we are continuing to see where the markets are in terms of interest rates.

因此，我們對返還現金的承諾顯然仍然很高，我們將繼續關注市場的利率狀況。

We have the benefit of being and that can be accretive from a cash perspective.

我們擁有存在的好處，從現金的角度來看，這可以增值。

And we feel like we have a very strong balance sheet.

我們覺得我們的資產負債表非常強勁。

So we are reviewing all the options and we'll provide more updates as we go through the year.

因此，我們正在審查所有選項，並將在這一年中提供更多更新。

Ken Gawrelski, Wells Fargo.

肯‧加維爾斯基（Ken Gawrelski），富國銀行。

Thank you very much for your questions.

非常感謝您的提問。

Appreciate it.

欣賞它。

A first maybe for Lidiane on a could you just talk about when you talk about applying AI and the opportunities there.

對於 Lidiane 來說，這可能是第一次，當您談論人工智慧的應用以及那裡的機會時，您能談談嗎？

Could you just bigger picture, give us a sense of capabilities that you have in house are what you need to build versus a potentially partner?

您能否提供更大的視野，讓我們了解您內部擁有的能力是您與潛在合作夥伴相比所需要建立的？

How are you going to accomplish what you what you're looking at, what you're setting out to do?

你將如何實現你所期待的、你打算做的事情？

And then maybe the second one, a little bit more tactically is Tom, when you talk about the softness in 1Q on Match, your competitor has indicated a step up in tender tender marketing.

然後，也許第二個，更具戰術性的是湯姆，當你談論比賽第一季的疲軟時，你的競爭對手已經表明在招標行銷方面有所進步。

Are you seeing any impact from from additional Tinder marketing in 1Q on on the top of funnel and especially in the US.

您是否看到第一季額外的 Tinder 行銷對漏斗頂部（特別是在美國）的影響？

Thank you.

謝謝。

Thank you for that question.

謝謝你提出這個問題。

So let's start with the first portion related to AI.

那麼讓我們從與人工智慧相關的第一部分開始。

As I mentioned earlier, this is the most exciting part of untapped potential for us is that we have an immense amount of data related to users' preferences behaviors.

正如我之前提到的，對我們來說，未開發潛力中最令人興奮的部分是我們擁有大量與使用者偏好行為相關的數據。

What drives and in a positive success for our customers.

是什麼推動我們的客戶取得積極的成功。

So just a tremendous, tremendous amount of insight in how we ship them amazing to see.

因此，對於我們如何將它們呈現得令人驚嘆，我們有非常非常多的洞察力。

And separately, I hasn't been new to Bumble and bumble has been innovating and asked for a really long time.

另外，我對 Bumble 並不陌生，並且 Bumble 一直在創新並要求了很長時間。

It launched a lot of capabilities in photo and detection of fake accounts as we recently launched.

正如我們最近推出的那樣，它推出了許多照片和虛假帳戶檢測功能。

And there's so much more.

還有更多。

So we have a an amazing foundation of AI and ML capabilities that exist today that we can already lean on as well.

因此，我們今天擁有令人驚嘆的人工智慧和機器學習能力基礎，我們也可以依賴它。

So what we're going to do is not only our lean on the set of data and capabilities that we have, but we can also partner and we have been in early pilots with our several large language model vendors to really advance what we believe will help our users through this and maintaining cold chain set of experiences.

因此，我們要做的不僅是依靠我們擁有的數據和能力，而且我們還可以合作，我們已經與幾家大型語言模型供應商進行了早期試點，以真正推進我們相信將實現的目標幫助我們的用戶度過這一難關並維持冷鏈體驗。

So we think there is just a tremendous amount of near term opportunities with partners in the space.

因此，我們認為短期內與該領域的合作夥伴存在大量機會。

Now it's on a longer-term vision.

現在它有了更長遠的願景。

We believe varies because of our safety in principles, we will be continuing to innovate NI for for a long time.

我們相信，原則上的安全性會有所不同，我們將長期持續創新 NI。

And there's a lot of unique value to creating a set of principles that should lead to healthy and equitable our relationships and relationships and communities and so forth.

創建一套原則有很多獨特的價值，這些原則應該會導致我們的關係、關係和社區等健康和公平。

So you will see a lot of innovation for our firm as they are now.

所以你會看到我們公司現在有很多創新。

In terms of competitive pressure, we have been in a competitive environment.

從競爭壓力來看，我們一直處於競爭的環境。

Always that's always been the case.

一直都是這樣。

Our focus is to really prioritize our customers.

我們的重點是真正優先考慮我們的客戶。

I think strong cost companies are the ones that focus on customers first and foremost.

我認為強大的成本公司是那些首先關注客戶的公司。

So our focus right now is investing our marketing, our product and our overall set of customer experiences across our key markets to meet what is differentiated for Bumble again, which is our women's experience, safety and so forth.

因此，我們現在的重點是在關鍵市場上投資我們的行銷、產品和整體客戶體驗，以再次滿足 Bumble 的差異化需求，即我們的女性體驗、安全等。

So we certainly feel that it's fully in our control to help our customers' needs our experiences.

因此，我們當然認為我們完全可以控制我們的體驗來滿足客戶的需求。

Curtis Nagle, Bank of America.

柯蒂斯‧內格爾，美國銀行。

Great thanks very much for taking my questions.

非常感謝您回答我的問題。

And first one, just wanted to quickly back to back to Premium Plus, I understand the point of, I guess, not being enough differentiation to justify the Tier two the audience.

第一個，只是想快速回到高級附加版，我想，沒有足夠的差異化來證明二級受眾的合理性。

I'm curious, what do you envision adding adding to this tier to make it, I guess, more appealing?

我很好奇，您打算在這一層中添加什麼內容，使其更具吸引力？

And then just a quick follow-up for new just what drove the are people who weakness?

然後快速跟進新的是什麼驅動了那些弱點的人？

Is that mostly, yes, mix shift in brand or anything else going on?

是的，這主要是品牌的混合轉變還是其他原因？

Yes.

是的。

Let me start with Affinium Plan.

讓我從 Affinium 計劃開始。

Our big miss two dynamics were some higher end tiers that are very interesting for us.

我們最錯過的兩個動態是一些對我們來說非常有趣的高端層。

The first to use this one and more of everything on unlimited capabilities when they take a higher end tier So that certainly are in a dynamic that we're really looking at what drives and those two are important inside of customer experiences with that number of swipes.

當他們採取更高端的層時，第一個使用這個和更多的無限功能因此，這肯定是一個動態，我們正在真正研究哪些驅動器和這兩個在客戶體驗中非常重要的滑動次數。

Super slide highlights and so we really want to expand the set of capabilities that gives customer that confidence that they're getting the best possible set of services from us.

超級幻燈片亮點，因此我們確實希望擴展一系列功能，讓客戶相信他們從我們這裡獲得了最好的服務。

The second piece is differentiated experiences and we believe there are some opportunities for us with AI insights about what might drive higher success for users.

第二部分是差異化體驗，我們相信我們有一些機會透過人工智慧洞察來了解什麼可以為使用者帶來更大的成功。

We know a lot of our users want to have more information about what's resonating with people that are seeing their profile.

我們知道許多用戶都希望獲得更多信息，了解哪些內容會引起查看其個人資料的人的共鳴。

So that's one category of investments that we're looking at, higher differentiation for a premium plus.

因此，這是我們正在考慮的一類投資，即溢價更高的差異化。

So we're going to be looking at these two streams to ensure that we're carrying on only those in great value across the entire app, but certainly differentiated set of capabilities as well.

因此，我們將關注這兩個流，以確保我們只在整個應用程式中實現那些具有巨大價值的流，但當然也有一組差異化的功能。

Yes, sure.

是的，當然。

And on the our people question.

關於我們的人員問題。

Like I said in my prepared remarks, it's largely a function of mix shift between different geographies that is leading to overall our people being negative.

正如我在準備好的發言中所說，這在很大程度上是不同地區之間混合轉變的結果，導致我們的員工總體持消極態度。

But like I said in an individual market, we continue to be focused on increasing our people.

但就像我在個人市場中所說的那樣，我們繼續專注於增加我們的員工。

We continue to be doing pricing optimization work and as we see a higher attach rates for existing users from additional offerings like consumables, you also see our people go up.

我們繼續進行定價優化工作，當我們看到現有用戶透過消耗品等附加產品獲得更高的附加率時，您也會看到我們的員工人數增加。

So and that's really what you're seeing reflected in the overall are people put on Black.

因此，這確實是您所看到的反映在總體上的人們穿著黑色衣服的情況。

Chris Kuntarich, UBS.

克里斯·昆塔里奇，瑞銀集團。

Great.

偉大的。

Thanks for taking the question.

感謝您提出問題。

But just on the reinvestment, the $15 million of the $55 million of restructuring savings.

但光是再投資方面，就節省了 5,500 萬美元的重組節省中的 1,500 萬美元。

Can you just talk a bit about what you would need to see to Excellarate the amount that you're reinvesting in the business on?

您能否簡單談談您需要看到什麼才能提高您對業務的再投資金額？

Yes, let me talk to you at a high level.

是的，讓我從高層次跟你們談談。

We've talked about reinvestment from a safety data, but let me tell you more specifically on what we're going to do about our goal is to hire.

我們已經討論了安全資料的再投資，但讓我更具體地告訴您我們將如何實現我們的目標是招募。

And as Denise said, and come out of capital allocation, we want to really focus on organic growth in the near term, but we're going to be flexible in terms of evaluating power of our technology assets will accelerate our vision from a D&A perspective.

正如丹尼斯所說，從資本配置來看，我們希望在短期內真正專注於有機成長，但我們將靈活地評估我們的技術資產的力量，這將從 D&A 的角度加速我們的願景。

So we want to really invest on AI innovation.

因此，我們希望真正投資於人工智慧創新。

As I mentioned earlier, there are some pilots that we have already started to ensure that we really learn what makes CI. similarly exciting for users we've won we won is actually I have to help our users be more human and better themselves.

正如我之前提到的，我們已經開始了一些試點，以確保我們真正了解 CI 的組成部分。對於我們贏得的用戶來說，同樣令人興奮的是，我們實際上必須幫助我們的用戶變得更加人性化，讓自己變得更好。

We are now building at for the sake of AI here.

我們現在正在為人工智慧而建設。

So our investments and our pilots are very much about fine tuning that.

因此，我們的投資和試點很大程度上是為了對此進行微調。

So there is the ability to acquire some resources to accelerate that.

因此有能力獲得一些資源來加速這個過程。

We certainly will consider that.

我們當然會考慮這一點。

But to Andrew's point, we want to be super methodical and have a high bar because customer experience is going to be the Paramount.

但就安德魯的觀點而言，我們希望非常有條理，並且有很高的標準，因為客戶體驗將是最重要的。

Our principal will be hiding evaluation like that.

我們的校長會這樣隱藏評價。

The second piece of our reinvestment that I mentioned is accelerating the possibility of helping our customers gain value from more than just one of our offerings.

我提到的我們再投資的第二部分是加速幫助我們的客戶從我們的多種產品中獲得價值的可能性。

So we are focused on building a user platform that's going to allow us to provide more recommendations for what else might be interesting for users to get from Bumble.

因此，我們專注於建立一個用戶平台，讓我們能夠為用戶從 Bumble 獲得的其他可能感興趣的內容提供更多建議。

So if you are an Bumble date and you go on a date, we may recommend for you to trial official and you were going to carry that experience for you as Tino on fleet.

因此，如果您是 Bumble 約會對象並且您去約會，我們可能會推薦您去試用官方，並且您將作為蒂諾在艦隊中為您帶來這種體驗。

And as we expand into is we focus on bubble for clients that allows us to really bring our customer base seamlessly to Bumble for France.

隨著我們業務的擴展，我們專注於為客戶提供 Bumble，這使我們能夠真正將我們的客戶群無縫地引入 Bumble for France。

So we're really excited about this kind of reinvestment.

因此，我們對這種再投資感到非常興奮。

That means hiring very talented people that have a lot of the eye data and our safety experience to our teams, and certainly we'll do that in as fast as possible.

這意味著為我們的團隊僱用擁有大量眼科數據和安全經驗的非常有才華的人，當然我們會盡快做到這一點。

And ladies and gentlemen, this concludes our Q&A and today's Bumble Fourth Quarter 2023 financial results conference call.

女士們先生們，我們的問答和今天的 Bumble 2023 年第四季財務業績電話會議到此結束。

We'd like to thank you for your participation.

我們衷心感謝您的參與。

You may now disconnect your lines.

現在您可以斷開線路。