Grindr Inc (GRND) 2024 Q1 法說會逐字稿

Good afternoon.

午安.

My name is Kelly, and I will be your conference operator today.

我叫凱利，今天我將擔任你們的會議操作員。

At this time, I would like to welcome everyone to the Grindr Q1 2024 earnings conference call.

此時此刻，我歡迎大家參加 Grindr 2024 年第一季財報電話會議。

(Operator Instructions)

（操作員說明）

Thank you.

謝謝。

I would now like to turn the conference over to Tolu Adeofe, Grindr's Head of Investor Relations.

現在我想將會議交給 Grindr 投資者關係主管 Tolu Adeofe。

Please go ahead.

請繼續。

Thank you, moderator.

謝謝主持人。

Hello and welcome to the Grindr earnings call for the first quarter 2024.

大家好，歡迎參加 Grindr 2024 年第一季財報電話會議。

Today's call will be led by Grindr CEO, George Arison; and CFO, Vanna Krantz.

今天的電話會議將由 Grindr 執行長 George Arison 主持；和財務長 Vanna Krantz。

We will make a few brief remarks and then we'll open it up for questions.

我們將做一些簡短的評論，然後我們將開放提問。

Please note Grindr released it's shareholder letter this afternoon, and this is available on the SEC's website and Grindr's Investor page at investors.grindr.com.

請注意，Grindr 今天下午發布了其股東信函，該信函可在 SEC 網站和 Grindr 投資者頁面 Investors.grindr.com 上取得。

Before we begin, I will remind everyone that during this call, we may discuss our outlook and future performance.

在開始之前，我要提醒大家，在這次電話會議中，我們可能會討論我們的前景和未來的表現。

These forward-looking statements may be preceded by words such as we expect, we believe we anticipate or similar such statements.

這些前瞻性陳述之前可能會出現「我們期望」、「我們相信我們預期」或類似此類陳述等字眼。

These statements are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today.

這些陳述存在風險和不確定性，我們的實際結果可能與今天表達的觀點有重大差異。

Some of these risks have been set forth in our earnings release and our periodic reports filed with the SEC.

其中一些風險已在我們的收益發布和向美國證券交易委員會提交的定期報告中列出。

During today's call, we will also present both GAAP and non-GAAP financial measures.

在今天的電話會議中，我們還將介紹 GAAP 和非 GAAP 財務指標。

Additional disclosures regarding non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures are included in the earnings release we issued today, which has been posted on the Investor Relations page of Grindr's website and in Grindr's filings with the SEC.

有關非 GAAP 指標的其他揭露，包括 GAAP 與非 GAAP 指標的調節，包含在我們今天發布的收益報告中，該報告已發佈在 Grindr 網站的投資者關係頁面以及 Grindr 向 SEC 提交的文件中。

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

有了這個，我會把它交給喬治。

Thanks, Tolu, and hello, everyone.

謝謝托魯，大家好。

We reported outstanding revenue growth and strong adjusted EBITDA in the first quarter.

我們在第一季報告了出色的收入成長和強勁的調整後 EBITDA。

These metrics and engagement were all healthy.

這些指標和參與度都是健康的。

Our overall Q1 performance reinforces our confidence in our full year outlook.

我們第一季的整體表現增強了我們對全年前景的信心。

I'm grateful to our team for their hard work on some significant product launches and to our users are engaging with these launches and providing us important feedback quickly to allow us to make improvements.

我感謝我們的團隊在一些重要產品發布上的辛勤工作，也感謝我們的用戶參與這些發布並快速向我們提供重要反饋，以便我們做出改進。

In addition to the terrific results we had hit the ground running on our 2024 strategic priorities.

除了優秀的業績外，我們也開始著手實施 2024 年策略重點。

These priorities are focused not only on driving continued growth this year, but also in positioning Grindr for the long-term success as a Global Gayborhood in Your Pocket.

這些優先事項不僅著眼於推動今年的持續成長，而且還致力於讓 Grindr 作為「口袋裡的全球同性戀社區」取得長期成功。

We are pursuing that vision by focusing on one, a robust set of products and features a focus on serving users bearing intent, two a lean and nimble team with an exceptional performance driven culture, and three Gayborhood that has to the important role we play in the community.

我們透過以下方式來實現這個願景：一是一套強大的產品和功能，專注於為有意圖的用戶提供服務；二是一支精乾而靈活的團隊，具有卓越的績效驅動文化；三是Gayborhood ，他們在我們的發展中發揮著重要作用。

Looking first at product development.

首先看產品開發。

We currently have two integers and test right now in Rome, both which are built with user intent in mind.

我們目前有兩個整數並正在羅馬進行測試，這兩個整數都是根據使用者意圖建構的。

Right now is a multiphase product we're building in response to strong user demand that makes it faster and easier for users to connect.

目前，我們正在開發多階段產品，以滿足用戶的強烈需求，使用戶能夠更快、更輕鬆地進行連線。

Phase one features are currently in test with more expected to be launched later this and next year.

第一階段的功能目前正在測試中，預計將在今年稍後和明年推出更多功能。

By now will ultimately have additional robust features facilitating better user engagement and capabilities for more seamless is a communication between users of one-on-one and in groups.

到目前為止，最終將擁有更多強大的功能，促進更好的用戶參與和能力，使一對一和團體用戶之間的溝通更加無縫。

Well, refer to a teleport in the past target the travel retention.

好吧，參考過去的傳送目標的旅行保留。

This feature enables users to transport the profile into a different location that they will be traveling income.

此功能使用戶能夠將設定檔傳輸到他們將要旅行的不同位置。

Taking the proper discoverable by users and applications are currently planning to start rolling it out more broadly in the second half of the year.

目前，用戶和應用程式正計劃在今年下半年開始更廣泛地推廣它。

During Q1, we also rolled out our new chat system built with an entirely new architecture, which encompasses step-change improvements in this critical user feature.

在第一季度，我們也推出了採用全新架構建構的新聊天系統，其中包括這項關鍵用戶功能的逐步改進。

This was a complex technical undertaking and we're nearing the finish line in addressing bugs that have popped up in the initial launch period.

這是一項複雜的技術任務，我們已經接近解決初始發布期間出現的錯誤的終點線。

The new chat and the storage of chat, server-side eliminate loss charge as a result of device changes.

新的聊天和聊天存儲，伺服器端消除了因設備更換而產生的損失費用。

Fixing this was a top request for users for years.

多年來，解決這個問題一直是用戶的首要要求。

We are very excited to offer the significant UX upgrades to our users.

我們非常高興能為我們的用戶提供重大的用戶體驗升級。

New channel architecture will be foundational to several new intentionality focus, speed features we plan to roll out in the coming quarters.

新的通路架構將成為我們計劃在未來幾季推出的幾個新的意向性焦點和速度功能的基礎。

Turning to our team, we're continuing to build out our talent base and we increased the number of engineers on board by more than 50% in Q1.

談到我們的團隊，我們正在繼續建立我們的人才基礎，第一季我們的工程師人數增加了 50% 以上。

As we think about long-term growth, we are centering on a vision of Grindr and a Global Gayborhood in Your Pocket.

當我們考慮長期成長時，我們的重點是 Grindr 和「口袋裡的全球同性戀社區」的願景。

The Gayborhood our hubs for the gay community long-established in large cities where people can interact safely and comfortably with businesses, resources, bars, restaurants and shops specifically cater to us.

Gayborhood 是我們在大城市長期建立的同性戀社區中心，人們可以安全舒適地與企業、資源、酒吧、餐廳和商店互動，專門為我們服務。

Over our 15-year history Grindr has come to represent this concept in a digital way.

在我們 15 年的歷史中，Grindr 以數位方式體現了這個概念。

We see this today and how the app is used for things like travel accommodations, health information and making professional connections.

我們今天看到了這一點，以及該應用程式如何用於旅行住宿、健康資訊和建立專業聯繫等方面。

We know our users want other types of connections, information and services that will enhance and align.

我們知道我們的用戶需要其他類型的連接、資訊和服務來增強和協調。

Our vision of Grindr is the Global Gayborhood it is about tapping into these designs.

我們對 Grindr 的願景是“全球同性戀社區”，它就是利用這些設計。

It will be a multiyear journey to achieve this vision, but we're excited about the potential to make Grindr even more integral part of the community and to build an even greater business in the process.

實現這一願景將是一個多年的旅程，但我們對使 Grindr 成為社區不可或缺的一部分並在此過程中建立更偉大業務的潛力感到興奮。

I'm excited about sharing the long-term product roadmap that underlies the Gayborhood vision with you at our Investor Day in June.

我很高興能在六月的投資者日與您分享構成 Gayborhood 願景的長期產品路線圖。

Thanks again for joining.

再次感謝您的加入。

And now I'll turn it over to Vanna to discuss the quarterly results in greater detail.

現在我將把它交給 Vanna，以更詳細地討論季度業績。

Thank you, George, and hello, everyone Grindr is firing on all cylinders and as we start off the year.

謝謝你，喬治，你好，在新的一年開始之際，Grindr 的每個人都在全力以赴。

Q1 revenue grew 35% year over year to $75.3 million and adjusted EBITDA margin came in at 42%.

第一季營收年增 35%，達到 7,530 萬美元，調整後 EBITDA 利潤率為 42%。

Q1 revenue was driven by strong sales across all products, including the extra weekly subscription, which launched in mid 2023.

第一季的收入是由所有產品的強勁銷售推動的，包括 2023 年中期推出的每週額外訂閱。

Direct revenue increased 34% year over year to $64.4 million and indirect revenue was up 43% year over year to $11 million as we benefit from reinstated banner advertising from Q2 of 2023 to share a few key user metrics.

直接營收年增 34%，達到 6,440 萬美元，間接營收年增 43%，達到 1,100 萬美元，這得益於我們從 2023 年第二季開始恢復的橫幅廣告，以分享一些關鍵用戶指標。

Average monthly active users increased 7% over the prior year to 13.7 million.

平均每月活躍用戶較上年增長 7%，達到 1,370 萬。

Average paying users in the quarter increased 17% over the prior year to $1 million, which brings payer penetration to 7.4% for the quarter.

本季的平均付費用戶比上年增長 17%，達到 100 萬美元，這使得本季的付費用戶滲透率達到 7.4%。

And our average direct revenue per paying user increased 15% over the prior year.

我們每個付費用戶的平均直接收入比前一年增長了 15%。

To $21.25 this quarter.

本季為 21.25 美元。

Moving to expenses and profitability.

轉向費用和盈利能力。

Operating expenses, excluding the cost of revenue, were $36.5 million in Q1 of 2024, up 13% year over year.

2024 年第一季的營運費用（不包括收入成本）為 3,650 萬美元，年增 13%。

This reflects higher people costs driven by stock-based compensation and contractors, which was offset by lower depreciation.

這反映出基於股票的薪酬和承包商帶來的人員成本上升，但折舊下降抵消了這一成本。

Adjusted EBITDA for Q1 of 2024 was $31.6 million, equating to a 42% adjusted EBITDA margin, up from $22 million a year ago or 39% of revenue.

2024 年第一季調整後 EBITDA 為 3,160 萬美元，相當於調整後 EBITDA 利潤率為 42%，高於一年前的 2,200 萬美元或占收入的 39%。

Turning to our balance sheet, we paid down $25.8 million of debt, bringing our debt position to $315 million as of March 31, 2024, and ended the quarter with $21.5 million in cash and cash equivalents.

談到我們的資產負債表，我們償還了 2,580 萬美元的債務，截至 2024 年 3 月 31 日，我們的債務狀況達到 3.15 億美元，本季末現金和現金等價物為 2,150 萬美元。

Lastly, I'll touch on how we're thinking about our 2024 outlook.

最後，我將談談我們如何看待 2024 年的前景。

We are pleased with the strong start to the year, which increases our confidence in the outlook for revenue growth of at least 23% and adjusted EBITDA margin of at least 40% for the year.

我們對今年的強勁開局感到高興，這增強了我們對今年營收成長至少 23% 和調整後 EBITDA 利潤率至少 40% 的前景的信心。

We set and update our annual guidance based on our most current views of the business and what we know to be achievable.

我們根據我們對業務的最新看法以及我們所知的可實現目標來製定和更新我們的年度指導。

Q1 year-over-year revenue growth was largely driven by user adoption of the extra weekly subscription, which was introduced in mid 2023.

第一季營收年增主要是由於用戶採用了 2023 年中期推出的每週額外訂閱服務。

We are currently testing new products and are encouraged by their potential and are still accumulating data that will inform the timing of global launch and revenue forecast.

我們目前正在測試新產品，對其潛力感到鼓舞，並且仍在累積數據，以告知全球發布的時間和收入預測。

With that, I'll ask the operator to open up the line your questions.

這樣，我會要求接線員打開您的問題線路。

(Operator Instructions)

（操作員說明）

Nick Jones, Citizens JMP.

尼克瓊斯，公民 JMP。

Great.

偉大的。

Thanks for taking the questions.

感謝您提出問題。

Maybe first, increasing engineering headcount by 50% sequentially and it was right now in Rome products rolling out.

也許首先，將工程人員數量連續增加 50%，現在正在羅馬推出產品。

Can you speak to how you think about, I guess, return on investment when you add engineers that you guys are very product driven company with a lot of enhancements to come.

我想，當您增加工程師時，您能談談您對投資回報的看法嗎？

How do you think about kind of ratcheting up those hires and how we should be thinking about?

您如何看待增加這些員工的數量以及我們應該如何考慮？

I guess the time line or return on investment to those hires?

我猜這些員工的時間軸或投資報酬率是多少？

I'm sorry.

對不起。

Thanks for being here, Nick, and great to talk to you.

感謝您來到這裡，尼克，很高興與您交談。

So I'll start and then I'll hand over to Vanna first in a we had way more engineers than we have on board today at our peak in January of 2023, our close to 225 people in total and a big portion, nearly half of that was product and engineering team.

所以我先開始，然後我將首先移交給 Vanna，因為我們的工程師數量比 2023 年 1 月高峰期時的工程師數量要多得多，我們總共有近 225 名員工，其中很大一部分，接近一半其中包括產品和工程團隊。

As everyone knows, a lot of folks chose not to sound Grindr with the cultural change at Kunshan competitions that we wanted to make, which included coming back to the office.

眾所周知，在我們想要進行的崑山比賽中，許多人選擇不使用 Grindr 來進行文化變革，其中包括回到辦公室。

And so they chose to depart.

於是他們選擇了離開。

And so we are now at 109 people in total as of end of Q3 and so far from where we were at our peak.

截至第三季末，我們現在的員工總數為 109 人，距離巔峰時期還很遠。

So the engineers that we're adding are not even bring us close to where we were in the past.

因此，我們添加的工程師甚至無法讓我們接近過去的水平。

When I came to Grindr my takeaway, and this is not just mine.

當我來到 Grindr 時，我的收穫不僅僅是我的。

I think a lot of folks who are here in leadership roles had the same feeling that we had opportunity to significantly increase productivity, and we were not shipping as many things as we could have been shipping.

我認為許多擔任領導職務的人都有同樣的感覺，我們有機會顯著提高生產力，但我們沒有交付盡可能多的東西。

And a week, I think, achieved in a pretty significant way on both last year and are continuing to see pretty significant productivity improvements from this year.

我認為，這一周在去年和今年都取得了相當顯著的成果，並且繼續看到生產力的顯著提高。

Obviously, some of that has to do with I'm kind of having clarity on what you want to achieve.

顯然，其中一些與我對你想要實現的目標有一定的清晰度有關。

So because I think engineers do really well and there's clarity around product vision and specifications and somewhat has to do with better management, which we're implementing across the whole or right.

因為我認為工程師做得非常好，產品願景和規格很清晰，並且在某種程度上與更好的管理有關，我們正在整體或正確地實施這一點。

That's something that you have to do as the company matures.

隨著公司的成熟，這是你必須做的事情。

As far as how we tend to think about product development, we are have a very product driven company, no question.

就我們如何看待產品開發而言，毫無疑問，我們是一家非常以產品為導向的公司。

And the way I think best product is built is through user perspective.

我認為最好的產品是透過使用者的角度建構的。

So if you go to operating principles on our website, you'll see that the first principle is either number one.

因此，如果您造訪我們網站上的操作原則，您會發現第一個原則是第一位的。

And there's a very clear reason why we tried to learn from users what they want and then tried to build that for them.

我們試圖從用戶那裡了解他們想要什麼，然後嘗試為他們建立它，這是有一個非常明顯的原因的。

Does not mean you don't come into the product with a hypothesis.

並不代表您不帶著假設進入產品。

You definitely do, but you start with the user in mind.

你肯定會這樣做，但你首先要考慮到用戶。

And we are fortunate that our users actually have told us a lot in terms of what they want.

我們很幸運，我們的用戶實際上已經告訴了我們很多他們想要的東西。

And they have been saying this for years that they want certain things built.

多年來他們一直在說他們想要建造某些東西。

And hey, when are you guys going to do that.

嘿，你們打算什麼時候這麼做？

And we've been, I think, very deliberate in ensuring that we have to build those things for them.

我認為，我們一直非常謹慎地確保我們必須為他們建造這些東西。

What we normally do is kind of get that initial user perspective in terms of what they want, Mark things up and design prototypes and put those in front of the user.

我們通常會做的就是了解用戶想要什麼的初始視角，標記內容並設計原型並將其放在用戶面前。

And collect feedback on that as well, make changes basically the feedback and only then start actually building the product at which point we have a reasonably high confidence that something will work well.

並收集對此的反饋，基本上對反饋進行更改，然後才開始實際構建產品，此時我們對某些東西會很好地工作有相當高的信心。

We tried to build the most minimum viable product you can to address the user need.

我們試圖建立盡可能簡單的可行產品來滿足用戶需求。

That's in question.

這是有問題的。

I put that onto the market as quickly as possible because the best test for some is actually heavy users work where they play with a product that you have out there and start collecting feedback.

我盡快將其推向市場，因為對某些人來說，最好的測試實際上是重度使用者使用您現有的產品並開始收集回饋。

That's something we did, for example, last year with all right.

例如，去年我們就這麼做了，一切順利。

We put the first version of Roam out in the fall and in a couple of countries with a select set of users, collected feedback, took that feedback and from the real product being live in market and then make changes to it and then put it out there again on last quarter.

我們於秋季在幾個國家/地區推出了 Roam 的第一個版本，並選擇了一組用戶，收集反饋，從市場上的真實產品中獲取反饋，然後對其進行更改，然後將其發布上個季度又出現了。

So that's the general approach that we take with the product development we do.

這就是我們在產品開發中採用的一般方法。

We definitely have more to do than we have resources to do it in a pretty significant way.

我們要做的事情肯定比我們擁有的資源多得多，無法以相當重要的方式做到這一點。

And that's why we said that we would expect that over a two year period, we would build back up to at least the levels of the total number of higher that we had out on our key members that we had in the beginning of 2023.

這就是為什麼我們說，我們預計在兩年內，我們的關鍵成員總數將至少恢復到 2023 年初的水平。

And just to address, hey Nick, how are you?

只是為了解決這個問題，嘿尼克，你好嗎？

So we are our thinking about our investments with respect to the overall envelope that we've set in terms of our guidance of 40%.

因此，我們根據 40% 的指導設定的總體範圍來考慮我們的投資。

So everything that we are talking about, you should expect that is already factored into the guidance that we've shared with you.

因此，您應該期望我們正在討論的所有內容都已經包含在我們與您分享的指南中。

And that really is the investment that we need to put into our business to continue the growth in the short and medium term and so.

這確實是我們需要對我們的業務進行的投資，以便在短期和中期繼續成長。

Yes, it sounds like a big change with respect to 50% increase in engineering headcount but as you know, we were at 104 total FTE's at Q4, and now we're at one 29.

是的，這聽起來是一個很大的變化，工程人員數量增加了 50%，但如您所知，我們在第四季度的 FTE 總數為 104 人，現在為 29 人。

So still a relatively new company for the amount of product that we have out there and on our goals.

因此，就我們現有的產品數量和我們的目標而言，這仍然是一家相對較新的公司。

Great.

偉大的。

And maybe still staying on the theme of product rollout, there's a limited weekly well, our globally in Q1 you mentioned the extra that was rolled out in 3Q last year payer penetration as a percent of MAUs ticked up nicely in 1Q.

也許仍然停留在產品推出的主題上，每週的數量有限，我們在第一季的全球範圍內，您提到了去年第三季推出的額外付款，因為 MAU 的百分比在第一季大幅上升。

Can you speak to kind of the product rollout to obviously help attract more payers.

您能否談談產品的推出，以明顯幫助吸引更多的付費者。

But to the extent that users are having a better experience, is that also showing up and just maybe MAUs who are quite ready to pay, I guess, could you kind of walk through as you roll these out, what is kind of the impact on payers?

但就用戶獲得更好的體驗而言，這是否也出現了，也許 MAU 已經準備好付費，我想，當您推出這些產品時，您能否介紹一下，這對用戶有何影響？

And I guess even further up the funnel and just overall usage of the platform?

我猜想更進一步的管道和平台的整體使用情況？

Nick, maybe I could just start.

尼克，也許我可以開始了。

So we actually did not roll out the unlimited weekly.

所以我們其實並沒有推出每週無限量。

It is only in test.

目前僅處於測試階段。

And so it's not fully rolled out globally, it's still in test.

因此它還沒有在全球範圍內全面推廣，仍處於測試階段。

And so what you can imagine is that it hasn't only went out in April.

所以你可以想像它不僅在四月就上市了。

And so the Q1 results that you're looking at and the cash part was still in March.

因此，您看到的第一季業績和現金部分仍在三月。

And so I would say that we're very pleased with our growth rate in average paying users, which was 17%.

所以我想說，我們對平均付費用戶 17% 的成長率感到非常滿意。

We're pleased with ARPU changes, which is really an output of getting more and more paying users and the MAU continues to grow.

我們對 ARPU 的變化感到滿意，這實際上是付費用戶越來越多且每月活躍用戶數持續增長的結果。

I think you could see that we're up by 7% in terms of year over year.

我想你可以看到我們同比增長了 7%。

So we are having a steady drumbeat of bringing more and more monthly active users globally into the platform and increasing our average paying users through our build-out of the product roadmap.

因此，我們正在穩步將全球範圍內越來越多的月度活躍用戶引入該平台，並透過建立產品路線圖來增加我們的平均付費用戶。

It's global, both domestic and international.

它是全球性的，包括國內和國際。

And it's really a drumbeat of continuously tweaking our products and getting more users out there.

這確實是不斷調整我們的產品並吸引更多用戶的鼓聲。

And I think to kind of what are the products that we're building and where they're going.

我想知道我們正在開發什麼產品以及它們的發展方向。

So first of all, we have Investor Day coming up in June.

首先，我們將在六月舉辦投資者日。

And so really excited to have everyone there.

非常高興大家都來參加。

And I think we'll do a fairly detailed look into what the product assortment is and what are the things that we will be launching and how that interrelates to the growth that we're planning from the revenue perspective.

我認為我們將相當詳細地研究產品類別是什麼，我們將推出哪些產品，以及它們與我們從收入角度規劃的成長之間的關係。

So please stay tuned to that.

所以請繼續關注。

And I'm really looking forward to telling everybody what we are going to be doing that said, the way we have been thinking about product development overall is both in creating products that will drive monetization and also building things for the entire user base even though these are not paying customers, because obviously they're very valuable users as well.

我真的很期待告訴大家我們將要做什麼，也就是說，我們對產品開發的整體思考方式既是創造能夠推動盈利的產品，也是為整個用戶群構建產品，儘管這些不是付費客戶，因為顯然他們也是非常有價值的用戶。

The one are paying customers engaging with people who are not paying customers.

一是付費客戶與非付費客戶互動。

And so you want both.

所以你兩者都想要。

And from that perspective, for example, this quarter -- last quarter, we released a huge update to our chat system is there completely new architecture and in our chat system at a very significant launch.

從這個角度來看，例如，本季度 - 上季度，我們發布了對聊天系統的巨大更新，這是全新的架構，並且在我們的聊天系統中進行了一次非常重要的發布。

The most challenging technological companies that in nearly a decade, and that's obviously for everybody.

近十年來最具挑戰性的科技公司，這顯然對每個人來說都是如此。

Now.

現在。

We do envision that with that architectural change, we will be actually able to launch new features inside our inbox that will be specific for paying customers and will be opportunity to convert more people to become paying customers.

我們確實設想，透過這種架構變化，我們實際上將能夠在收件匣中推出專門針對付費客戶的新功能，並將有機會將更多人轉變為付費客戶。

And so when we think of our product development, we kind of think about it from both attracting new users to the product or maybe users who used the product before and are using it less now because we're not getting what they wanted from a product.

因此，當我們考慮產品開發時，我們會考慮吸引新用戶使用該產品，或以前使用過該產品但現在使用較少的用戶，因為我們沒有從產品中獲得他們想要的東西。

That's an example of, for example, what dating features might do for us as well as from the perspective of then taking those users or existing users and converting them to be paying customers.

例如，這是一個約會功能可能為我們做些什麼的例子，以及從吸引這些用戶或現有用戶並將他們轉變為付費客戶的角度來看。

Great.

偉大的。

And if I could sneak in one last question here and I'll hop back in me too.

如果我能在這裡偷偷提出最後一個問題，我也會跳回來。

You had a slide deck you guys put out earlier in the year.

你們在今年早些時候推出了幻燈片。

I think it was about 25% of MAUs are in US roughly, but your revenue in the US is quite a bit higher than that.

我認為大約 25% 的每月活躍用戶在美國，但你們在美國的收入比這要高得多。

So can you speak to, I guess, your ability to monetize so well in the US on maybe what it takes to kind of get similar monetization from the international markets or what the puts and takes are to monetization internationally versus the US or maybe I have this wrong and you could just help clarify that?

因此，我想，您能否談談您在美國實現如此出色的貨幣化的能力，也許需要什麼才能從國際市場獲得類似的貨幣化，或者與美國相比，國際市場上的貨幣化需要什麼條件，或者也許我有這是錯的，你能幫忙澄清一下嗎？

Thanks.

謝謝。

It sounds good.

這聽起來不錯。

Yes, you're right.

你是對的。

We have about a quarter a third.

我們大約有四分之一。

We know we are nicely global in terms of our monthly active users with North America versus all the other regions.

我們知道，就北美地區的每月活躍用戶數量而言，與所有其他地區相比，我們在全球範圍內的表現非常出色。

Absolutely true from a revenue perspective, think of it as around 40% of our revenue is coming outside of North America.

從收入角度來看，這是絕對正確的，我們大約 40% 的收入來自北美以外地區。

And so clearly giving you an indication that we are further along in terms of not only payer penetration, but obviously conversion as well.

這清楚地向您表明，我們不僅在付款人滲透率方面，而且在轉換率方面也取得了進一步的進展。

In terms of on North America versus the other regions.

就北美與其他地區而言。

I think what you can also take from that is that we put out a product and we put it out globally.

我認為你還可以從中得到的是，我們推出了一種產品，並將其推向全球。

So we do a global launch, for instance, of the weeklies with some level of localization, but quite minimal.

因此，我們在全球範圍內推出了周刊，並進行了一定程度的本地化，但幅度很小。

And I think that we are continually testing how our products are landing in certain international markets and we will continue on our localization efforts to increase the conversion rates internationally.

我認為我們正在不斷測試我們的產品如何登陸某些國際市場，我們將繼續進行在地化努力以提高國際轉換率。

I would say that we're still early in that journey, but what's pretty comforting is that even with a global rollout, for instance, the extra week, like you noted, they still perform very well globally.

我想說，我們還處於這一旅程的早期階段，但令人欣慰的是，即使在全球範圍內推出，例如，如您所指出的，額外一周，它們在全球範圍內的表現仍然非常好。

In the I guess you all that as a massive opportunity, right the fact that we are penetrating well in the US by ourselves sitting below our peers in the dating space.

我想這對你們來說都是一個巨大的機會，事實是我們在美國的滲透率很好，在約會領域我們的排名低於同行。

It's a great opportunity to continue increasing penetration in the US and the fact that, you know, rest of the world, Europe and Latin America and Asia are below North America in penetration.

這是繼續提高在美國滲透率的絕佳機會，事實上，世界其他地區、歐洲、拉丁美洲和亞洲的滲透率低於北美。

And I can tell you that over time you can drive that penetration to be higher as well.

我可以告訴你，隨著時間的推移，你也可以提高滲透率。

We've never really approached this business from a regional perspective, and that's something we're just now starting to think about as an omission from a localization perspective, and I think that will be really helpful.

我們從未真正從區域的角度來處理這項業務，而我們現在才開始從本地化的角度考慮這一點，我認為這將非常有幫助。

And the drivers of that are kind of cultural changes, right.

其驅動因素是文化變革，對吧。

US and Europe in particular are probably furthest along in acceptance of gay rights and that makes it easier for people to be paying for a product like us.

尤其是美國和歐洲，在接受同性戀權利方面可能走得最遠，這使得人們更容易為像我們這樣的產品付費。

That changes happening very actively in Latin America, we were just in Argentina.

這種變化在拉丁美洲發生得非常活躍，我們就在阿根廷。

So you know, in Brazil a few weeks ago and the response to us being there and speaking with extremely positive.

所以你知道，幾週前在巴西，我們在那裡並發表演講的反應非常積極。

And so I think there's a ton opportunity, Latin America from that perspective and then in Asia, where probably the pace of change culturally is the slowest right now, you are still seeing some significant changes happened like Thailand.

所以我認為有很多機會，從這個角度來看拉丁美洲，然後在亞洲，文化變革的步伐可能是目前最慢的，你仍然看到一些重大的變化發生，例如泰國。

We're very actively working on passing our manager quality as up as a loss.

我們正在非常積極地努力提高我們的經理素質，就像損失一樣。

And so that's really positive as well.

所以這也是非常積極的。

So I think we have a ton of opportunity to see penetration grow all over the world.

因此，我認為我們有很多機會看到全球滲透率的成長。

Obviously, there's going to be a long journey, right?

顯然，這將是一個漫長的旅程，對嗎？

Because we have a lot of room to grow, but we plan to take advantage of that.

因為我們有很大的成長空間，但我們計劃利用這一點。

Great.

偉大的。

Thanks George and Vanna.

謝謝喬治和瓦納。

Andrew Marok, Raymond James.

安德魯馬羅克，雷蒙詹姆斯。

Hi, thanks again for taking my questions.

您好，再次感謝您回答我的問題。

I wanted to talk about the right now launch seems like a pretty interesting product and fairly differentiated in the marketplace.

我想談談現在推出的產品似乎是一個非常有趣的產品，並且在市場上具有相當的差異化。

You talked about user feedback or user signals on intent that went into the development of that product.

您談到了該產品開發過程中的使用者回饋或使用者意圖訊號。

Can you maybe go a second level below and say, what was it among the user base?

您能否進入第二個層次並說一下，用戶群中的內容是什麼？

That said, this is the product that we need to serve this unmet desire in our userbase?

也就是說，這就是我們需要的產品來滿足我們用戶群中未被滿足的願望嗎？

I'm absolutely happy to talk about that and good to talk to you, Andrew.

我非常高興談論這個，也很高興與你交談，安德魯。

So I think the way I would think about this is the following one kind of started out as a company in its earliest days, everyone who was on Grindr.

所以我認為我會這樣思考這個問題：最早是一家公司，每個人都在 Grindr 上。

We kind of thought of it as a right now, product that was kind of the reason you were there, right.

我們認為它是一種現在的產品，這也是你在那裡的原因，對吧。

And you know, obviously, with both online and in some ways we're going directly off-line as well is that we have a huge differentiator.

你知道，顯然，無論是在線上還是在某些方面，我們也直接離線，我們有一個巨大的差異化優勢。

Why not?

為什麼不？

I mean, I can tell you my own personal story.

我的意思是，我可以告訴你我自己的個人故事。

How I learned about Grindr, where I was in a bar with a bunch of my friends and and one of them pulled out his iPhone and like hey, let me tell you about this cool app.

我是如何了解 Grindr 的，當時我和一群朋友在一家酒吧，其中一個人拿出他的 iPhone，嘿，讓我告訴你這個很酷的應用程式。

I am, I guess, discover it goes into Grindr and less than 20 people in of our all in the app at the same time.

我想，我發現它進入了 Grindr，而且我們所有的人同時使用該應用程式的人數還不到 20 人。

So that was in the right now mode was kind of there for everybody at that point and over time, as the user base grew and obviously grew very quickly to much larger numbers, many of our use cases came into the product.

因此，當時的模式對每個人來說都是存在的，隨著時間的推移，隨著用戶群的增長，並且顯然很快就增長到更大的數量，我們的許多用例都進入了產品。

And so we went from right now use case to people looking for for dating to people looking for friends to people looking for social connections and even new professional connections, looking for information and access that information as it related to travel or health, et cetera.

因此，我們從現在的用例轉向尋找約會的人，尋找朋友的人，再到尋找社交關係甚至新的職業關係的人，尋找資訊並存取與旅行或健康等相關的資訊。

And so not everybody is in the same mode of intentions in any given moment.

因此，並非每個人在任何特定時刻都具有相同的意圖模式。

And frankly, we can be in more than one mode of intention at the same time.

坦白說，我們可以同時處於不只一種意圖模式。

And so what we are hearing from you that you'd be great if we could have a way to know who is in the right now mode when we are talking to them.

因此，我們從您那裡得知，如果我們能夠在與他們交談時知道誰處於當前模式，您會很棒。

And we heard that loud and clear from users, and that's what we are building now right now is not, but what we launch so far is not the completed product and by when I say launched it, it's in test in one country, right.

我們從用戶那裡聽到了響亮而明確的說法，這就是我們現在正在構建的不是，但我們到目前為止推出的還不是完整的產品，當我說推出它時，它正在一個國家/地區進行測試，對吧。

So that's kind of the phase where we are at right now.

這就是我們現在所處的階段。

This is the first test of this we are collecting user feedback.

這是我們收集用戶回饋的第一次測試。

We take that feedback and then we make changes to the feature and can get it back out into a view that for testing purposes.

我們接受回饋，然後對功能進行更改，並將其返回到用於測試目的的視圖中。

So this is a multi-step process, but it's still Phase one of what we want to do.

所以這是一個多步驟的過程，但它仍然是我們想要做的第一階段。

We what we released it toggle on your profile that allows you to say you are in the right now mode and then people are able to sort the grid based on who is in the right now mode.

我們在您的個人資料上發布了它，允許您說您處於當前模式，然後人們可以根據誰處於當前模式對網格進行排序。

Over time, we see opportunity for a lot more features that are tied to that mode.

隨著時間的推移，我們看到了與該模式相關的更多功能的機會。

It could be creating a many person chat facility or a room where he will be talking to each other who are all in that mode and it could be additional tackles on the profile.

它可以創建一個多人聊天設施或一個房間，他可以在其中與所有處於該模式的其他人交談，並且可以在個人資料上進行其他處理。

It might even be that the profile looks a little bit different if you're in right now mode.

如果您處於“立即”模式，則設定檔甚至可能看起來有點不同。

So many different things that we are considering adding to this this broad product feature set in we know over time, we think it will be a pretty significant extension of the product.

我們正在考慮將許多不同的東西添加到這個廣泛的產品功能集中，隨著時間的推移，我們認為這將是該產品的一個相當重要的擴展。

I do want to say the second thing, which is not related to right now per se, but into the how we're thinking about the product.

我確實想說第二件事，這與現在本身無關，而是與我們如何看待產品有關。

Right now is going to one mode and one end of the things that we're looking to add on the other end, we're thinking about updating the same much, right.

現在將進入一種模式，一端是我們希望在另一端添加的內容，我們正在考慮更新相同的內容，對吧。

We want to extend a product to have a feature set for dating.

我們希望擴展產品以具有約會功能集。

That's something also we heard very actively from users who were saying we actually have a lot of success in finding long-term partners on Grindr and the number that they had a high and we're very excited about that.

我們也從用戶那裡非常積極地聽到了這一點，他們說我們實際上在 Grindr 上尋找長期合作夥伴方面取得了很大成功，而且他們的數量很高，我們對此感到非常興奮。

But it will be great if you had a feature set that allowed us to more easily connect with people who are in that mode who actually want to be in a long-term relationship.

但如果您有一個功能集，可以讓我們更輕鬆地與處於這種模式、真正想要建立長期關係的人聯繫，那就太好了。

And so given the fact that we have users who are already new relationships on the up and are not looking for a relationship, for example, that's a different segment of users versus what that might be actually looking for relationship.

因此，考慮到我們的用戶已經是新關係並且不尋找關係的事實，例如，這與可能實際尋找關係的用戶是不同的部分。

And so creating a segmentation for them to kind of be able to talk to people who are in the dating use cases is another thing we very much want to do.

因此，我們非常想做的另一件事是為他們創建一個細分，以便能夠與約會用例中的人交談。

So when we none of us is going to change the name read them.

因此，當我們沒有人打算更改名稱時，請閱讀它們。

I was going to say that is that's like bread and butter of the business and we think is extremely valuable.

我想說的是，這就像業務的麵包和黃油，我們認為非常有價值。

But building out these extensions into a different direction with you the huge opportunity, and that's what we are working on today.

但是，將這些擴展構建到不同的方向會給您帶來巨大的機會，這就是我們今天正在努力的方向。

We really appreciate the detail and looking forward to kind of future evolutions of that product.

我們非常欣賞這些細節，並期待該產品未來的發展。

And then maybe a quick one for you, if I could.

如果可以的話，也許可以給你一個快速的。

You mentioned on the statement of banner ads driving that spike up in pace of indirect revenue growth.

您在聲明中提到橫幅廣告推動了間接收入成長的步伐。

I guess is to the 1Q results kind of be seen as the run rate going forward?

我想第一季的結果是否可以被視為未來的運行率？

And any other kind of detail as to the scale of move that you recently made would be appreciated?

如果您能提供有關您最近採取的行動規模的任何其他詳細信息，我們將不勝感激。

Thank you.

謝謝。

Yes, Andrew, we are definitely off to a strong start this quarter across all of our business lines.

是的，安德魯，本季我們所有業務線肯定都有一個強勁的開局。

And we did reintroduce that banner in the middle of 2023.

我們確實在 2023 年中期重新引入了該橫幅。

So we are seeing the impact of it.

所以我們正在看到它的影響。

What I'd suggest is that our advertising revenue is around 14% of our total revenue, and we can imagine that composition of total revenue will stay around the same.

我的建議是，我們的廣告收入約為總收入的 14%，我們可以想像總收入的組成將保持不變。

So I think you should think about it in that manner.

所以我認為你應該這樣考慮。

All right.

好的。

Appreciate the color.

欣賞顏色。

Thanks.

謝謝。

John Blackledge, TD Cowen.

約翰·布萊克利奇，TD·考恩。

Hi, guys.

嗨，大家好。

Thanks for the question.

謝謝你的提問。

Had two questions here.

這裡有兩個問題。

Firstly, on revenue, growth was strong once again in 1Q, how should we expect revenue growth to trend through the rest of the year as you lap through like the weeklies launch in '23, but also have new products launching alongside this new weekly unlimited tier?

首先，在營收方面，第一季的成長再次強勁，當你像 23 年推出的周刊一樣，我們應該如何預期今年剩餘時間的營收成長趨勢，而且還會有新產品與新的每週無限一起推出等級？

Yes, thanks.

對了謝謝。

We had a definitely a strong year so far and are really looking forward to a full year great revenue growth.

到目前為止，我們度過了非常強勁的一年，並且非常期待全年收入的大幅成長。

As you know, we've guided to 23% at least 23%.

如您所知，我們已指導至少 23% 至 23%。

And that's it, our philosophy on guidance is to inform the market based on things that we have visibility on.

就是這樣，我們的指導理念是根據我們掌握的情況向市場提供資訊。

And right now, we are running tests across our subscription products or ala carte offerings and our advertising format, all the tests are going well and the results may impact our forecast.

目前，我們正在對我們的訂閱產品或單點產品以及我們的廣告格式進行測試，所有測試進展順利，結果可能會影響我們的預測。

And so as we get more learnings back, it's still relatively early in all of these tests.

因此，當我們獲得更多的經驗教訓時，所有這些測試仍處於相對早期的階段。

We'll update the market.

我們將更新市場。

You might recall that last year when we put out earning sorry, we put out our guidance.

您可能還記得，去年當我們發布獲利報告時，我們發布了我們的指導。

We waited until we had the full impact of our testing with respect to understanding cannibalization with respect to understanding sign-up growth, and then we started providing updates to the market.

我們等到我們的測試對了解蠶食和了解註冊成長產生了全面的影響，然後我們開始向市場提供更新。

So I think we prefer to keep our philosophy and really having clear line of sight.

所以我認為我們更願意保持我們的理念並真正擁有清晰的視線。

Okay.

好的。

And then just on marketing spend continues to be and minimal for you.

然後，僅行銷支出對您而言仍然很小。

Could you just update us on your philosophy with respect to marketing spend and also the results of the podcast and other brand marketing folks just for you guys right now?

您能否向我們介紹一下您在行銷支出方面的理念以及播客和其他品牌行銷人員現在為您提供的最新結果？

Totally so historically, Grindr is co-marketed very little maybe in the early days, it is a little bit more than because of no marketing when we came in and in some respects, we were successful in spite of a market phenomenon than because of it.

從歷史上看，Grindr 的聯合行銷可能在早期很少，這不僅是因為我們進來時沒有行銷，而且在某些方面，儘管存在市場現象，我們還是取得了成功，而不是因為它。

We were not telling our story very, very well and Grindr does offer some things for the community and for its users.

我們並沒有很好地講述我們的故事，Grindr 確實為社群及其用戶提供了一些東西。

And historically, even in recent history, kind of telling that story and that narrative around the brand, that was not a focus in product marketing as well.

從歷史上看，即使在最近的歷史中，講述品牌的故事和敘述也不是產品行銷的重點。

You know, when you go into our app like we can do and we will be doing a much better job in telling the narrative behind what the features are how you use them, what benefits you get from them, etc.

您知道，當您像我們一樣進入我們的應用程式時，我們會更好地講述功能背後的敘述、您如何使用它們、您從中獲得什麼好處等等。

So there's a ton of opportunity on the marketing side.

因此，行銷方面存在大量機會。

And last year we brought on board a new leader for our marketing and communicating that Francisco is a personal interest and with a member of the community has been an app user historically had an incredibly good sense of the user and also know has worked both in assets and in Europe.

去年，我們聘請了一位新的行銷和溝通領導者，弗朗西斯科是個人興趣所在，並且社群成員一直是應用程式用戶，歷史上對用戶有著非常好的認識，並且知道在資產方面都發揮了作用在歐洲。

And so bring that international perspective to things as well, which we think is going to be valuable and so with Rich's leadership, I think we're significantly up-leveling our marketing capabilities.

因此，也將國際視角帶入事物中，我們認為這將是有價值的，因此在里奇的領導下，我認為我們正在顯著提高我們的行銷能力。

A lot of that has already started to bear fruit.

其中很多已經開始有成果。

Now we spoke in the shareholder letter about podcast that we ran in the first few months, which had incredible response from users.

現在，我們在股東信中談到了我們在最初幾個月運行的播客，這引起了用戶的難以置信的反響。

And it became a thing in the community in a really positive way and know when you think about the total amount of money that it costs versus the engagement level that you have from users, the ROI was extremely high.

它以一種非常積極的方式在社區中成為一件事情，並且知道當你考慮它花費的總金額與用戶的參與度時，投資回報率非常高。

And so another thing we're thinking about that's going to start in the next down a few weeks in celebration of our 15th year anniversary.

因此，我們正在考慮的另一件事將在接下來的幾週內開始，以慶祝我們成立 15 週年。

And we are going to be launching a bus and tour across the United States.

我們將推出遊覽美國的巴士和旅遊。

And it is a Grindr bus that's going to go to 10 different cities across the country and have these like really major marketing moment for Grindr.

這是一輛 Grindr 巴士，將前往全國 10 個不同的城市，這對 Grindr 來說是真正重要的行銷時刻。

And during the month of June.

並在六月期間。

Obviously, June is Pride Month.

顯然，六月是驕傲月。

And so that big plate events all around the country.

如此大的板塊活動遍布全國各地。

And as you can imagine, Grindr that very heavily used product during those events.

正如您可以想像的那樣，Grindr 在這些活動中大量使用了產品。

And so again, the data is going to be a reasonable investment, but the ROI you're going to get from that we believe from engagement with the users that are going to be really, really significant.

再說一次，數據將是一項合理的投資，但我們相信，透過與用戶的互動，您將從中獲得的投資回報率將非常非常重要。

We had a little taste of that in Rio.

我們在裡約就嚐到了一些滋味。

And when we came with that particular station and to do this fireside chat about the 15th anniversary fan.

當我們來到那個特定的電台並在爐邊談論 15 週年紀念粉絲。

And we also had a conversion of the bus they're the line is to get into and work completely unimaginable.

我們還對巴士進行了改裝，他們的路線是進入並工作完全難以想像。

I got from maybe 20 people would be in line when I'd like tenants that have maybe 100 people in line waiting to get in there to call out security to manage the crowd.

我得到的訊息是，大約有 20 個人在排隊，而我希望租戶可能有 100 個人在排隊等待進入那裡，呼叫保安來管理人群。

And so those are the kinds of things we are doing in brand to help tell our story really well and really control the brand narrative, right.

因此，這些就是我們在品牌中所做的事情，以幫助更好地講述我們的故事並真正控製品牌敘事，對吧。

Because for better Q4 does attract a lot of attention.

因為為了更好的Q4確實吸引了許多人的注意。

A lot more than other products.

比其他產品多很多。

And that attention is can be good if it's channeled in a positive way on the things that we do well.

如果這種關注能夠以正面的方式引導到我們擅長的事情上，那麼這種關注就會是件好事。

But it can be damaging when people tried to make things that are not a big deal into a much bigger deal.

但當人們試圖把不是什麼大事變成大事時，這可能會造成傷害。

And so we want to be owning the brand narrative and helping you to understand and all stakeholders, understand what brand it doesn't and how does that service beginning.

因此，我們希望擁有品牌敘事，並幫助您和所有利害關係人了解它不屬於哪個品牌以及該服務如何開始。

All right, thanks.

好的，謝謝。

Rohit Kulkarni, ROTH MKM.

羅希特·庫爾卡尼，ROTH MKM。

Hey, thank you.

嘿，謝謝你。

Nice quarter and those sort of the thing down a couple of questions.

不錯的季度，諸如此類的事情有幾個問題。

The picture one for you, George I guess, how are you thinking about AI and like AI driven use cases.

喬治，我猜這幅圖是為你準備的，你如何看待人工智慧以及人工智慧驅動的用例。

You mentioned chat and you rebuild infrastructure.

您提到了聊天並重建了基礎設施。

Maybe talk about kind of what use cases you think you could unlock even more and perhaps accompanying the investments that you may have to do to make those use cases the reality?

也許可以談談您認為可以解鎖更多的用例，以及可能需要進行的投資才能使這些用例成為現實？

And then I have a couple of follow-ups on the mortgages.

然後我對抵押貸款進行了一些後續行動。

I'm sure I'm going to talk to you, and it's a great question.

我確信我會和你談談，這是一個很好的問題。

And so bear with me, as I answered to that, have a lot of thoughts on this.

請耐心等待，當我回答這個問題時，對此有很多想法。

So when we think about AI to both the user perspective are in terms of what we're doing for the user and also how we run the company and how we actually build product gets interrelated to that as well, right.

因此，當我們從用戶角度思考人工智慧時，我們會考慮我們為用戶做什麼，以及我們如何經營公司以及我們如何實際建立產品，這也與此相關，對吧。

Because the changes that are happening, things generally, I mean how code is written, for example, are incredible.

因為正在發生的變化，一般來說，我的意思是程式碼的編寫方式，例如，是令人難以置信的。

I had a demo, for example, of a product this week in which, you know, NAI synthetic computer is basically operating at the same level as you'd expect a junior or senior year in turn on the software engineer to operate.

例如，本週我有一個產品演示，您知道，NAI 合成計算機的運行水平基本上與您期望大三或大四的軟體工程師依次操作的水平相同。

I mean, that's pretty incredible, right in terms of how much effectiveness that's going to add to to an engineer's productivity.

我的意思是，就提高工程師生產力的效率而言，這是相當令人難以置信的。

Now we're not fully there yet, but we're heading that direction.

現在我們還沒有完全實現這一點，但我們正在朝著這個方向前進。

So the way we tend to think of it in the following way, and right now, we believe software in general software development and products themselves are in the same stage and kind of had that in early days of cellphones and we were in cellphone versus landlines.

因此，我們傾向於以以下方式思考它，現在，我們相信一般軟體開發中的軟體和產品本身處於同一階段，並且有點像手機的早期階段，我們處於手機與固定電話的階段。

And you could go after and kind of do a lot more investment into landline right.

你可以繼續對固定電話進行更多投資。

Because that's what was present then as their main way of communications or you could say, hey, no, actually, I'm going to go invest in software, sorry in cell phones and you build a cellphone driven environment first, for example, in places which might be might not be good connectivity, online.

因為這就是當時他們的主要通信方式，或者你可以說，嘿，不，實際上，我要去投資軟體，對不起，是手機，你首先構建一個手機驅動的環境，例如，可能是網絡連接不好的地方。

And so that's the kind of decision we need to make as well as we think about building products.

這就是我們需要做出的決定以及我們在建立產品時的考慮。

So when we think about dating, for example, what we have with the way we're pushing to pay, what is the AI first, base dating product bites rather than what is popular today in dating and do we tried to replicate and mimic that in our application because, again, we don't have dating features.

因此，當我們考慮約會時，例如，我們推動支付的方式是什麼，人工智慧優先是什麼，基礎約會產品而不是當今約會中流行的東西，我們是否試圖複製和模仿在我們的應用程式中，因為我們沒有約會功能。

I think the former is a much better approach because that's what everybody else is going to go.

我認為前者是更好的方法，因為這是其他人都會採取的方法。

And so since we have an opportunity to build from scratch lead to build for the future rather than what might be working today.

因此，既然我們有機會從頭開始建立未來，而不是今天可能有效的東西。

And that's how we tend to think about it.

這就是我們傾向於思考的方式。

So where I think applications for AI are significant in our product.

所以我認為人工智慧的應用在我們的產品中很重要。

It's many threefold and one has to do with connect communications, chatting, companionship or support and for the user and whether it's, you know, cold chain or mental health in either direction that it's in a whole bucket of communications in general component I think, is pretty significant and there's a lot we can do there and we're working on that.

它有很多三個方面，其中一個與連接通信、聊天、陪伴或支持有關，對於用戶來說，無論是冷鏈還是心理健康，我認為它都屬於通信的總體組成部分，這是非常重要的，我們可以在那裡做很多事情，我們正在努力。

Second one is around matching and creating better connections between users, right.

第二個是圍繞著用戶之間的匹配和建立更好的聯繫，對吧。

We have an incredible amount of information about our users, as you probably know, are you generate often generated 121 billion chat messages last year.

我們擁有大量關於用戶的信息，您可能知道，去年您經常產生 1210 億條聊天訊息。

That's an incredible amount of information about what they like, what they don't like, what they're into and using all that as a way to understand the use of better in potentially create good matches between users, we think is a huge opportunity.

這是關於他們喜歡什麼、不喜歡什麼、喜歡什麼的大量信息，並利用所有這些信息來更好地理解如何在用戶之間建立良好的匹配，我們認為這是一個巨大的機會。

So that's the second kind of component and then thirdly, is application health or up quality and to trust and safety is another big component.

這是第二類元件，第三類是應用程式的健康或品質提升，而信任和安全是另一個重要元件。

And there we already actually doing a bunch of things using AI and we think we can improve.

我們實際上已經使用人工智慧做了很多事情，我們認為我們可以改進。

As any application like us as a social media app or dating up, there is a behavior that is not allowed, right.

任何像我們這樣的社交媒體應用程式或約會應用程序，都有一種行為是不允許的，對吧。

It's against our community guidelines or it is illegal.

這違反了我們的社群準則或非法的。

The more we can do to text that type of behavior before it even happens for before anyone reports it and get it removed from the products and from the community, the better we are right because that means we're creating a better experience for users.

我們在此類行為發生之前（甚至在任何人報告該行為並將其從產品和社區中刪除之前）採取的措施越多，我們就越正確，因為這意味著我們正在為用戶創造更好的體驗。

So we are using quite a bit of AI already and we have done, I think, a really good job in proactively finding bad behavior and getting it removed to the point where user reports on legal activity in the app for activity against community guidelines has dropped 50% over the last three years.

因此，我們已經使用了大量的人工智慧，我認為，我們在主動發現不良行為並將其刪除方面做得非常好，以至於用戶對應用程式中違反社群準則的活動的合法活動報告已經下降過去三年增長了50%。

And that's because we're actually able to get it to get ahead of it and get it off the top before it becomes a problem for anybody.

那是因為我們實際上能夠讓它領先並在它成為任何人的問題之前將其擺脫困境。

And so that's the third bucket of where we think opportunity is significant with it.

因此，這是我們認為機會很重要的第三個面向。

Okay.

好的。

Fantastic, I guess.

我想太棒了。

And then a question on weekly versus monthly some I guess of just philosophically, how do you kind of think about the lifetime value of a customer who is coming in for the first time and opting in for a weekly?

然後是關於每週與每月的問題，我想這只是哲學上的問題，您如何看待首次進入並選擇每週的客戶的終身價值？

Or how does the funnel progression now that you probably have six to nine months worth of data has been and maybe talk to over a steady-state, what proportion of your users you think are three versus weekly versus monthly aren't going forward?

或者，現在您可能擁有六到九個月的數據，漏斗進展情況如何，並且可能會在穩定狀態下進行交談，您認為三週用戶、每月用戶的比例是多少？

Thanks for the question, Rohit.

謝謝你的提問，羅希特。

Yes, we have been spending a lot of time now that we've got enough data to analyze our weekly and our monthly behavior.

是的，我們已經花了很多時間，現在我們已經有了足夠的數據來分析我們每周和每月的行為。

And as you know, we have increased our paying users.

如您所知，我們增加了付費用戶。

We've increased payer penetration and we've increased our pool.

我們提高了付款人的滲透率，並擴大了我們的資金池。

And so now it's time to look at LTV.

現在是時候關注 LTV 了。

We can do a nice analysis of LTV for the year.

我們可以對今年的 LTV 進行很好的分析。

And I think there's one thing that I'd like to share with everyone with respect to our user behavior.

我認為關於我們的用戶行為，我想與大家分享一件事。

And that is that our app offers immediacy to our community.

這就是我們的應用程式為我們的社區提供了即時性。

And therefore, the weekly proposition has really followed that intent and user use case.

因此，每週提案確實遵循了該意圖和用戶用例。

And so we have not found the level of cannibalization that I might have expected with respect to weeklies and monthlies.

因此，我們還沒有發現週刊和月刊的蠶食程度達到我的預期。

And in fact, a reactivation rate which we've been absolutely able to track now over the one-year period is extremely healthy.

事實上，我們現在絕對能夠在一年內追蹤的重新激活率非常健康。

And so our ecosystem has remained extremely healthy and more available to more users.

因此，我們的生態系統一直非常健康，並且可供更多用戶使用。

And so the LTVs are relatively close we don't provide that data publicly, but what I can tell you is there is a cohort or subset of our users that enjoy the weekly product and they tend to dip in and dip out.

因此，LTV 相對接近，我們不會公開提供這些數據，但我可以告訴您的是，我們的一部分用戶喜歡每週的產品，他們往往會不斷地使用和退出。

Yeah, we also have a different cohort of users that tend to stay in the product for longer.

是的，我們還有一群不同的用戶，他們往往會在產品中停留更久。

However, given the pricing, the LTVs are generally in the same zip code.

然而，考慮到定價，LTV 通常採用相同的郵遞區號。

So we are pleased with our overall ecosystem.

所以我們對我們的整體生態系統感到滿意。

However, you also might notice at times weekends versus weekdays and things like that, that it can become a little choppier now, but overall, very healthy, there's your question.

然而，您有時也可能會注意到週末與工作日之類的事情相比，現在可能會變得有點波動，但總的來說，非常健康，這就是您的問題。

Yeah, absolutely.

是的，絕對是。

Thank you for the color.

謝謝你的顏色。

And again, look, looking forward to the Investor Day.

再次期待投資者日的到來。

I hope to learn more about product and team and good luck with that.

我希望更多地了解產品和團隊，祝你好運。

Thank you very much.

非常感謝。

Just one quick correction.

只需一個快速更正。

If there's no more questions.

如果沒有其他問題了。

One, we actually did begin rolling out unlimited in February and is fully rolled out in the quarter.

第一，我們實際上在二月開始推出無限服務，並在本季全面推出。

And so I just wanted to make that correction, unlimited weekly.

所以我只想修正，每週無限制。

Thank you, and I'll pass the line back to the operator now.

謝謝，我現在就把電話轉給接線生。

Thank you.

謝謝。

This does conclude today's program.

今天的節目到此結束。

Thank you for your participation.

感謝您的參與。

You may disconnect at any time and have a wonderful evening.

您可以隨時斷開連接，並度過一個美好的夜晚。