Grindr Inc (GRND) 2024 Q2 法說會逐字稿

Good afternoon.

午安.

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

我叫史蒂芬妮，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's second quarter 2024 earnings conference call.

此時，我歡迎大家參加 Grindr 2024 年第二季財報電話會議。

(Operators instructions) Thank you.

（操作說明）謝謝。

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

我現在將會議交給 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 Grindr's earnings call for the second quarter 2024.

大家好，歡迎參加 Grindr 2024 年第二季財報電話會議。

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

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

There 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 the 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諸如“我們期望”、“我們相信”、“我們預期”或類似此類陳述之類的詞語。

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向美國證券交易委員會提交的收益發布和定期報告中闡述。

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 is the posted on the Investor Relations page of Grindr's website and in Grindr's filings with the SEC.

有關非 GAAP 衡量標準的其他揭露，包括 GAAP 與非 GAAP 衡量標準的調節，均包含在我們今天發布的收益報告中，該報告發佈在 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。

Grindr's delivered outstanding Q2 results reaching 34% year-over-year revenue growth and adjusted EBITDA margin of 45%.

Grindr 第二季業績出色，營收年增 34%，調整後 EBITDA 利潤率為 45%。

Our Q2 growth was even better than we had expected at our Investor Day in June.

我們第二季的成長甚至比我們在 6 月投資者日的預期好。

Throughout Q2, we fine tune our conversion strategies, piloting several enhancements to quantitate yields for improving the merchandising of premium features.

在整個第二季度，我們微調了我們的轉換策略，並試行了多項增強功能來量化產量，以改善優質功能的銷售。

We modified our export chat feature and made it easier for you to utilize our Boost add-on and opt out from ad by transitioning to a page here.

我們修改了匯出聊天功能，讓您可以更輕鬆地利用我們的 Boost 插件，並透過轉換到此處的頁面來選擇退出廣告。

The cumulative impact of these enhancements became clear exiting the quarter.

這些增強功能的累積影響在本季後變得顯而易見。

Key factors for success of our unlimited weekly option combined to drive our outperformance, excellent performance in each on strong growth and now and the strength of our advertising business is allowing us to raise our full year guidance to revenue growth of 27% or greater and adjusted EBITDA margin of 42%.

我們無限每週選項成功的關鍵因素結合起來推動了我們的優異表現，在強勁增長和現在的每項出色表現以及我們廣告業務的實力使我們能夠將全年收入增長指導提高到27% 或更高，並進行調整EBITDA 利潤率為 42%。

Our continued excellent adjusted EBITDA results demonstrate what a highly efficient and lean team can do when it is focused on delivering value to users and shareholders.

我們持續出色的調整後 EBITDA 表現證明了一個高效且精幹的團隊在專注於為用戶和股東提供價值時可以做些什麼。

We've had questions from many of you at Investor Day and to share our story and our plans for the future.

我們在投資者日收到了很多人的提問，並分享了我們的故事和未來的計劃。

You haven't done already.

你還沒做呢。

I encourage you to spend time with materials from Investor Day to get a full sense of what mission, vision, strategy and product roadmap.

我鼓勵您花時間閱讀投資者日的資料，以充分了解使命、願景、策略和產品路線圖。

Grindr's is unique because we have built by gay people for gay people, and our long-term vision builds on its uniqueness by focusing on user needs.

Grindr 的獨特之處在於我們是由同性戀者為同性戀者打造的，而我們的長期願景是透過專注於使用者需求而建立在其獨特性之上。

With our roadmap, we're building many features to enhance our core use case of connecting users with each other based on their intentions for driving strong monetization.

根據我們的路線圖，我們正在建立許多功能來增強我們的核心用例，即根據用戶的意圖將用戶彼此聯繫起來，以推動強勁的貨幣化。

Making it easier for users to find fast, Immediate connections will always be front and center at Grindr.

為了讓使用者更輕鬆地快速找到，即時連線始終是 Grindr 的首要和中心。

To make this expense often for building the right our suite of features, currently testing in Australia.

為了經常將這筆費用用於建立正確的功能套件，目前正在澳洲進行測試。

In addition, we're working on new features that address the desire of an increasing number of our users to find relationships.

此外，我們正在開發新功能，以滿足越來越多的用戶尋找關係的願望。

Lack of density in a given geography is a key impediment to gay people finding their partners, and with the AI first dating features, we can help you this breakdown the geographical constraints.

特定地理位置的人口密度不足是同性戀者尋找伴侶的主要障礙，借助人工智慧優先約會功能，我們可以幫助您打破地理限制。

Our goal within our roadmap is to build totally AI features that will provide us with a better understanding of how our users interact with data.

我們路線圖中的目標是建立完全人工智慧功能，使我們能夠更好地了解用戶如何與數據互動。

And inform long-term integration of AI across the App.

並告知人工智慧在整個應用程式中的長期整合。

For example, we are creating Grindr Wingman, an all-purpose assistant to help users navigate our app, which will begin testing with select users by the end of the year.

例如，我們正在創建 Grindr Wingman，這是一款幫助用戶導航我們的應用程式的多功能助手，該應用程式將於今年年底開始對部分用戶進行測試。

Our core product road map also includes five a-la-carte offerings that will rollout over the next three years.

我們的核心產品路線圖還包括將在未來三年內推出的五種單點產品。

Roam caters to the quarter of our weekly active users that are traveling during any given week.

Roam 迎合了每週活躍用戶中在任何一周內旅行的四分之一的需求。

Feature offerings in development will increase inbound interest, five, personalized recommendations and offer you some insight about each other among other things.

開發中的功能產品將增加入站興趣，第五，個人化推薦，並為您提供一些關於彼此的見解。

In addition, our core product.

另外，我們的核心產品。

We also shared our plans for gayborhood expansion opportunities, such as health and wellness as well as travel and local discovery.

我們還分享了同性戀社區擴張機會的計劃，例如健康和保健以及旅行和當地探索。

Via partnerships, we will help users access curated, relevant services and information that will improve their lives.

透過合作夥伴關係，我們將幫助用戶獲得精心策劃的相關服務和訊息，從而改善他們的生活。

While investments in these expansions are part of our financial plan, revenue from them is not included in our projections, presenting long-term upside opportunity.

雖然對這些擴張的投資是我們財務計畫的一部分，但它們帶來的收入不包括在我們的預測中，這提供了長期的上昇機會。

As a team, we're building the Global Gayborhood in your pocket and to our success, strive to make a world where the lives of our global community are free, equal,

作為一個團隊，我們正在將全球同性戀社區建立在您的口袋裡，為了我們的成功，我們努力創造一個全球社區生活自由、平等、

[injest].

[注射]。

With strong momentum in the rest of the year and beyond.

今年剩餘時間及以後的發展勢頭強勁。

We're excited about what fulfilling this vision will mean for our users and our shareholders.

我們很高興實現這一願景對我們的用戶和股東意味著什麼。

I'm proud of the progress we've made so far and the quality of execution from our performance-driven team.

我對我們迄今為止所取得的進步以及我們以績效為導向的團隊的執行品質感到自豪。

With that, I'll turn it over to Vanna to review the results in more detail.

這樣，我會將其交給 Vanna，以更詳細地審查結果。

Thank you, George, and hello, everyone.

謝謝你，喬治，大家好。

Grindr delivered an exceptional second quarter marked by outstanding performance across all of our key financial and user metrics.

Grindr 在第二季度表現出色，在所有關鍵財務和用戶指標上均表現出色。

Total revenue for Q2 increased by 34% year over year to $82.3 million with an adjusted EBITDA margin at 45%.

第二季總營收年增 34%，達到 8,230 萬美元，調整後 EBITDA 利潤率為 45%。

Direct revenue increased 31% year over year to $70 million as we improved the merchandising of our premium features and enhanced our pay tiers.

由於我們改進了高級功能的銷售並提高了我們的付費等級，直接收入同比增長 31% 至 7000 萬美元。

Specifically, average monthly active users increased 7% over the prior year to $14.1 million.

具體來說，平均每月活躍用戶比上年增長 7%，達到 1,410 萬美元。

Average paying users in the quarter increased 14% over the prior year to $1.1 million, which brings payer penetration to 7.5% for the quarter.

該季度的平均付費用戶較上年同期成長 14%，達到 110 萬美元，這使得該季度的付費用戶滲透率達到 7.5%。

And our average direct revenue per paying user increased 16% over the prior year to $22 an $0.08 this quarter.

我們每位付費用戶的平均直接收入較上年增長 16%，本季達到 22 美元，比前一年增加 0.08 美元。

Indirect revenue for Q2 was up nearly 50% year over year to $12 million, fueled by momentum in third party ad as we have expanded our network of ad partners.

第二季的間接收入年增近 50%，達到 1,200 萬美元，這得益於我們擴大了廣告合作夥伴網絡，第三方廣告的勢頭。

Moving to expenses and profitability.

轉向費用和盈利能力。

Operating expenses, excluding the cost of revenue, was $36.8 million in Q2 2024, up 17% year over year, with the increase primarily driven by compensation related expenses.

2024 年第二季的營運費用（不包括收入成本）為 3,680 萬美元，年增 17%，成長主要是由薪酬相關費用推動的。

Adjusted EBITDA for Q2 2024 was $36.9 million, equating to a 45% adjusted EBITDA margin, up from $26.9 million a year ago or 44% of revenue.

2024 年第二季調整後 EBITDA 為 3,690 萬美元，相當於調整後 EBITDA 利潤率為 45%，高於一年前的 2,690 萬美元或占收入的 44%。

Turning to our balance sheet, we paid down $17.6 million of debt, bringing our debt position to $298 million as of June 30, 2024 and ended the quarter with $16.3 million in cash and cash equivalents.

談到我們的資產負債表，我們償還了 1,760 萬美元的債務，截至 2024 年 6 月 30 日，我們的債務狀況達到 2.98 億美元，本季末現金和現金等價物為 1,630 萬美元。

This equates to a leverage ratio of 2.2 times based on the last 12 months of adjusted EBITDA.

這相當於根據過去 12 個月調整後 EBITDA 的槓桿率為 2.2 倍。

In the second quarter, we generated positive free cash flow of $14.2 million, which resulted in a 38% free cash flow conversion.

第二季度，我們產生了 1,420 萬美元的正自由現金流，自由現金流轉換率為 38%。

As a reminder, our quarterly free cash flow conversion is subject to timing of changes in working capital.

提醒一下，我們的季度自由現金流轉換取決於營運資金變動的時間。

Lastly, as George mentioned, we are raising our guidance for the full year based on our strong performance in the first half of 2024.

最後，正如 George 所提到的，基於 2024 年上半年的強勁表現，我們正在上調全年指引。

We now anticipate revenue growth of 27% or greater and an adjusted EBITDA margin of 42% or greater.

我們現在預計營收成長 27% 或更高，調整後 EBITDA 利潤率達到 42% 或更高。

This revised outlook underscores the ongoing momentum across our business lines and our ability to drive enhanced monetization and operational efficiencies.

這項修訂後的前景強調了我們整個業務線的持續發展勢頭以及我們推動提高貨幣化和營運效率的能力。

We're focused on continuing to execute on our business plan and our product roadmap, and we are excited about the progress we are making.

我們專注於繼續執行我們的業務計劃和產品路線圖，我們對所取得的進展感到興奮。

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

然後，我會要求接線員開通提問線路。

Thank you.

謝謝。

At this time we will open the floor for questions.

現在我們將開始提問。

(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。

I have a couple on.

我有幾個。

Can you maybe elaborate a little bit more on the merchandising you did to improve conversion, you're performing kind of nicely ahead of kind of what we heard from the Analyst Day.

您能否詳細說明您為提高轉換率而進行的行銷活動，您的表現比我們在分析師日聽到的情況要好得多。

So just curious as to kind of what you're learning as you're launching new merchandising techniques?

您只是好奇在推出新的行銷技術時正在學習什麼？

And do you think you can maybe speed up on ongoing conversion?

您認為您可以加快正在進行的轉換嗎？

Are our people are kind of what you're learning and maybe put a finer point on what it was.

我們的員工是否屬於您正在學習的內容，也許可以更詳細地說明它是什麼。

And then the second question is on -- in the shareholder letter, you comment on the Spanish channel being launched in 2Q.

然後是第二個問題——在股東信中，您對第二季推出的西班牙語頻道發表了評論。

What do you need to see to kind of invest more behind that?

您需要看到什麼才能在這背後進行更多投資？

And what do you need to see in the playbook to deploy that in other languages?

您需要在手冊中看到什麼才能將其部署為其他語言？

Thanks.

謝謝。

Thanks, Nick.

謝謝，尼克。

That's a great question.

這是一個很好的問題。

So on merchandising, we -- I will kind of start a little bit historically.

因此，在行銷方面，我們——我會從歷史角度開始。

We historically have not done a very good job in product marketing.

歷史上我們在產品行銷方面做得併不好。

A lot of things that are in the app and available to users, whether it's as part of a paid tier or in just -- even in the free product users actually don't know about because we don't tell them about it in an active way.

應用程式中有很多東西可供用戶使用，無論是作為付費層的一部分還是只是——即使是在免費產品中，用戶實際上也不知道，因為我們不會以一種方式告訴他們這些內容。的方式。

And oftentimes, people are like, oh, I just discovered XYZ feature and then it kind of becomes popular because someone never wrote about it in social or virally kind of it takes off, which speaks to the power of the product, but probably is not the best approach when it comes to things where you expect to make money.

人們常常會說，哦，我剛剛發現了 XYZ 功能，然後它就變得流行了，因為有人從未在社交或病毒式傳播中寫過它，這說明了產品的力量，但可能並非如此。當涉及到您希望賺錢的事情時，這是最好的方法。

And so we've been experimenting with product marketing for Boost in various ways.

因此，我們一直在嘗試以各種方式進行 Boost 產品行銷。

Over the last year, one of the things we did is visible in the app, and we call it a Boost fab where you can access boost more easily from the main grid.

在過去的一年裡，我們所做的一件事在應用程式中可見，我們稱之為 Boost fab，您可以在其中更輕鬆地從主網格存取 boost。

And that was fairly helpful.

這相當有幫助。

It was just one of the things we did in terms of merchandising, and that's effective.

這只是我們在行銷方面所做的事情之一，而且很有效。

So we've generally, I think, have a lot of opportunity to do better in how we kind of this is to sell the product to end and present it.

因此，我認為，我們通常有很多機會在如何銷售產品和展示產品方面做得更好。

And another thing that we did in this past quarter is what we call no ads upsell, so basically informing users that if they are a paying customer, they don't see ads.

我們在上個季度做的另一件事是我們所說的無廣告追加銷售，所以基本上是告訴用戶，如果他們是付費客戶，他們就不會看到廣告。

That was really beneficial as well.

這也確實非常有益。

Again, you think that all users should know that, but because we don't do a lot of marketing, people actually don't know what all the benefits of a pay tier are.

同樣，您認為所有用戶都應該知道這一點，但由於我們沒有進行大量行銷，人們實際上並不知道付費等級的所有好處是什麼。

So those are the types of things we will be doing a lot more of.

所以這些是我們將做更多事情的類型。

And frankly, the both kind of informing people about what's available, but also finding the right places to drop that inside the app where it's easily accessible.

坦白說，這兩種方式都可以告知人們可用的內容，同時也可以找到合適的位置將其放置在應用程式內易於存取的位置。

And that's one of the learnings we've had over time that we need to make things a pretty easily accessible to users.

這是我們長期以來學到的經驗之一，我們需要讓使用者輕鬆存取這些內容。

On the Spanish channels, I guess, the way I tend to think about that is this international is a huge opportunity for us, but we tend to think of it as an opportunity in the mid and long term, not rather than in an immediate sense.

在西班牙頻道上，我想，我傾向於認為這個國際比賽對我們來說是一個巨大的機會，但我們傾向於將其視為中長期的機會，而不是直接意義上的機會。

We've done really well internationally already, having done virtually nothing to drive user growth.

我們在國際上已經做得非常好，幾乎沒有採取任何措施來推動用戶成長。

It's been all viral and word of mouth.

這一切都被病毒式傳播和口耳相傳。

And social for us is really powerful, both to engage with our users and also to kind of stay engage with a broader community of people who could be a user or where are you in the past.

社交對我們來說非常強大，既可以與我們的用戶互動，也可以與更廣泛的社群（可能是用戶或您過去在哪裡）保持互動。

We view our channel as a place where people can come and see fun and entertaining content that they can engage with and like.

我們將我們的頻道視為人們可以觀看有趣且有趣的內容的地方，他們可以參與並喜歡這些內容。

And we do get a lot of traction on social, and I think it's pretty evident, even when we don't try to create traction, it tends to create a ton of traction just kind of organically, which is awesome.

我們確實在社交上獲得了很大的吸引力，我認為這是非常明顯的，即使我們不嘗試創造吸引力，它也往往會自然地產生大量的吸引力，這真是太棒了。

So given that Spanish is our second dominant language, we have a lot of users in Spanish-speaking countries, and those are growing really nicely, obviously, in particular in Latin America.

因此，考慮到西班牙語是我們的第二主導語言，我們在西班牙語國家有很多用戶，而且這些用戶顯然成長得非常好，特別是在拉丁美洲。

And we thought that Spanish made a ton of sense as the next language to start doing social media in.

我們認為西班牙語作為下一種開始使用社群媒體的語言非常有意義。

And so far, so good.

到目前為止，一切都很好。

But this is a very early kind of phase of what we do.

但這是我們工作的一個非常早期的階段。

Could I envision that one day, which we do something, for example, in Portuguese?

我能否想像有一天我們會做一些事情，例如用葡萄牙語？

It's certainly possible, but it's not something we are actively kind of thinking about right now.

這當然是可能的，但這不是我們現在正在積極考慮的事情。

Spanish is a very significant part of our user base, and so it made sense to kind of do that, and we'll make a decision on something else later on.

西班牙語是我們用戶群中非常重要的一部分，因此這樣做是有意義的，我們稍後會做出其他決定。

But broadly speaking, as we think about the midterm and the long term, international is going to become more of a focus.

但總的來說，當我們考慮中期和長期時，國際將成為更多的焦點。

It's just not something we're counting on and expect a lot of results in this year or next year.

這不是我們所指望的，也不期望在今年或明年取得很多成果。

Great.

偉大的。

And if I could ask one more question.

如果我可以再問一個問題嗎？

How are you measuring kind of the brand efforts, particularly the Grindr rides America tour that you highlighted of?

您如何衡量品牌努力，特別是您強調的 Grindr 騎乘美國之旅？

Just curious on of how that's progressing in the US and how you're measuring kind of these kind of upper funnel brand efforts?

只是好奇這在美國的進展以及您如何衡量此類上漏斗品牌的努力？

Thanks.

謝謝。

Yes.

是的。

I mean, the reality is that we have incredible brand recognition in the US, which also have extremely strong brand recognition internationally, but not as strong as new assets, 90%-plus in the US and 60% in select international regions where we've measured it, which is 60% obviously like great for probably a lot of companies is just not as great as what we have in the US.

我的意思是，現實情況是，我們在美國擁有令人難以置信的品牌認知度，在國際上也擁有極強的品牌認知度，但不如新資產強大，90% 以上在美國，60%在我們所在的選定國際地區。

With -- when we did something in the US like in the bus tour, that's just basically trying to stay top of mind with our unit and also to give back to user a little bit as well, right?

當我們在美國做一些像巴士之旅這樣的事情時，基本上只是想把我們的設備放在首位，同時也回饋用戶一點，對吧？

Because we are and very important part of their lives and being engaged with us in real life has benefits.

因為我們是他們生活中非常重要的一部分，在現實生活中與我們交往是有好處的。

And that's kind of how we think about that.

這就是我們的想法。

It's not a around, hey, take that 90% brand recognition to 92% because like, we're not going to be able to actually measure that.

這不是一個左右，嘿，將 90% 的品牌知名度提高到 92%，因為我們無法實際衡量這一點。

But we saw really great engagement, both in terms of people coming to the bus, but also the content that was created from that had incredible engagement in social channels.

但我們看到了非常高的參與度，無論是在搭乘公車的人們方面，還是由此創建的內容在社交管道中都具有令人難以置信的參與度。

And so a lot of our strategies around create content that people like, whether it's for in real-life events or podcasts or videos and then see -- drive traction with that socially and then eventually in the app as well.

因此，我們的許多策略都是圍繞著創建人們喜歡的內容，無論是現實生活中的事件、播客還是視頻，然後看到——在社交上推動這些內容，最終也在應用程式中產生吸引力。

But we're going to do some things in the app that allow us to engage with users with that content as well.

但我們將在應用程式中做一些事情，讓我們也能透過該內容與用戶互動。

So we were really happy with how the bus worked out.

所以我們對巴士的表現非常滿意。

It was frankly beyond any expectations that we had.

坦白說，這超出了我們的任何預期。

It was really, really positive.

這真的非常非常積極。

And I went to the launch in San Francisco and literally like -- the line to get into the bus didn't stop until it was very late at night and everyone's going home.

我去了舊金山的發表會，真的就像——上巴士的隊伍直到深夜才停下來，每個人都回家了。

So engagement was really positive.

所以參與度非常正面。

And I certainly would expect that we will do more things like that in the future.

我當然希望我們將來會做更多類似的事情。

But again, I don't think it's like one thing accomplishes XYZ result.

但同樣，我認為這並不是一件事就能實現 XYZ 結果。

It's a broader approach of really owning our brand and telling our story a lot better so that people have the positive associations that we believe they should with Gindr versus some of the negative association that come out of (inaudible) stories that are available in Google that people look up, that maybe happened 10 years ago.

這是一種更廣泛的方法，真正擁有我們的品牌並更好地講述我們的故事，以便人們對Gindr 產生我們認為應該有的積極聯繫，而不是從Google 上提供的（聽不清楚）故事中產生的一些負面聯繫人們抬頭一看，這可能發生在10年前。

And probably the article written about it was not fully true in the first place.

也許有關它的文章一開始並不完全正確。

So that's the goal of kind of our brand strategy.

這就是我們品牌策略的目標。

And I think it's going really well.

我認為一切進展順利。

Thanks for taking the questions.

感謝您提出問題。

John Blackledge, TD Cowen.

約翰·布萊克利奇，TD·考恩。

Hi there, It's Logan on for John.

大家好，我是約翰的羅根。

I have two questions.

我有兩個問題。

First one, just focused around monthly active user growth continues to grow nicely.

第一個，僅關注每月活躍用戶的成長，繼續良好成長。

Could you talk about what's driving the strength there while some other players face challenges.

您能談談在其他一些玩家面臨挑戰時是什麼推動了那裡的實力嗎？

And also just as you look to the back half of the year, what were the biggest drivers behind you guys raising that full year outlook?

而且，正如你們展望下半年一樣，你們提出全年展望的最大推動因素是什麼？

And then I just have one follow-up.

然後我只有一個後續行動。

So with respect to -- thanks for the question.

謝謝你的提問。

With respect to the MA growth, it's actually been really strong without us having to pull the traditional levers like performance marketing.

就 MA 成長而言，它實際上非常強勁，而無需我們使用績效行銷等傳統槓桿。

As George said, our brand awareness is really strong in states at about 90%, but really as an opportunity internationally, with respect to the macro through the back half of the year.

正如喬治所說，我們的品牌知名度在大約 90% 的州確實很強，但從今年下半年的宏觀來看，這實際上是一個國際機會。

Obviously, we're at 7% year to date, but with the back half of the year, we're really still thinking about it from a and a perspective of having more users coming into our platform with which, frankly the products that they're interested in seeing.

顯然，今年迄今為止我們的成長率為 7%，但到了今年下半年，我們實際上仍在從讓更多用戶進入我們平台的角度來考慮這個問題，坦白說，他們使用的產品有興趣看看。

And so and right now, we expect it to be similar to what we're seeing now.

因此，現在，我們預計它會與我們現在所看到的類似。

I mean, I think the one thing I would add on MAU, and this is not kind of -- that's going to drive the result this year per se, but we believe that are a lot of users who have used Grindr a lot in the past and might not be using it as much now as they did in the past.

我的意思是，我認為我要在 MAU 上添加的一件事是，這本身不會推動今年的結果，但我們相信很多用戶在過去幾年中經常使用 Grindr過去，現在可能不會像過去那樣頻繁地使用它。

There's a bunch of reasons for that, right.

這有很多原因，對吧。

People as they become older, in our user base start thinking about being in a long-term relationship and they try to look for places where they can find the long-term partnership.

隨著年齡的增長，我們的用戶群中的人們開始考慮建立長期關係，並嘗試尋找可以找到長期合作關係的地方。

We believe that by building features and products that cater to those types of needs that users might have, we can drive more MAU growth as well.

我們相信，透過建立滿足用戶可能擁有的此類需求的功能和產品，我們也可以推動更多的每月活躍用戶成長。

And so we are -- that's one of the things we're doing, like at the Investor Day we talked about how the relationship use case and building a whole suite of features for that use case.

所以我們——這就是我們正在做的事情之一，就像在投資者日上我們討論瞭如何關係用例以及如何為該用例建立一整套功能。

It's something that we are going to work on and launch.

這是我們將要研究並推出的東西。

And we believe that not only has significant opportunity to drive revenue growth from the users that are in the app already, but also to reengage users who probably still use Grindr, but might not be using it on a monthly basis and going to give them another reason to engage with our product.

我們相信，這不僅有巨大的機會來推動已經使用該應用程式的用戶的收入增長，而且還可以重新吸引那些可能仍在使用Grindr 但可能不會每月使用它並會給他們另一個服務的用戶。

So we believe it product-driven MAU growth can be very effective, and it has an impact on word-of-mouth.

所以我們相信產品驅動的每月活躍用戶成長會非常有效，並且會對口碑產生影響。

It has and impact on virality, and that all really benefits us, and we are making those investments.

它對病毒式傳播產生了影響，這一切都真正使我們受益，我們正在進行這些投資。

Additionally, as I mentioned a minute ago, we do have higher brand recognition in the US than we do internationally.

此外，正如我剛才提到的，我們在美國的品牌認知度確實比國際上更高。

And we know from the work we've done on some of the international countries in terms of learning about them that when people know us in a given country, they do this a lot and they really like the product.

從我們在一些國際國家所做的了解工作中我們知道，當人們在某個國家了解我們時，他們會經常這樣做，並且非常喜歡我們的產品。

And so we believe that by driving that brand awareness to be higher, kind of getting it closer to where we are in the US over obviously many years.

因此，我們相信，透過提高品牌知名度，可以使其更接近我們多年來在美國的水平。

That's not going to be accomplished in one or two years, we will drive more user growth in those countries as well.

這不會在一兩年內完成，我們也將推動這些國家的用戶成長。

And that's a significant opportunity for us over the mid and long term.

從中長期來看，這對我們來說是一個重要的機會。

That's why we think international is such an opportunity.

這就是為什麼我們認為國際化是一個機會。

So hopefully, that's helpful kind of as we as we enter that.

希望這對我們進入這一點有所幫助。

Yes, super helpful.

是的，超級有幫助。

Thank you.

謝謝。

And then just one more question.

然後還有一個問題。

As you test the right now feature and as you kind of gradually roll out the loan feature.

當您測試當前功能並逐漸推出貸款功能。

Could you talk about any early learnings there?

您能談談那裡的任何早期經驗嗎？

Are you seeing uptake more from current subscribers?

您是否看到目前訂閱者的使用量增加？

Maybe are you seeing new payers come on board through those features on really, really just any kind of reception from users of the app would be helpful.

也許您是否看到新的付款人透過這些功能加入進來，真的，真的，來自應用程式用戶的任何形式的接待都會有所幫助。

So right now in the room are very different product and how we think about them is they're very different.

所以現在房間裡有非常不同的產品，我們對它們的看法是它們非常不同。

Right now is a fairly significant user journey enhancements in our product is creating a solution for a use case that Grindr is really good at.

目前，我們產品中相當重要的使用者旅程增強功能正在為 Grindr 真正擅長的用例創建解決方案。

But as we became bigger and have more and more users that have different intentions, the ease of that immediate connection is not there anymore on Grindr as it was, say, a decade ago.

但隨著我們規模不斷擴大，擁有越來越多具有不同意圖的用戶，Grindr 上不再像十年前那樣輕鬆地進行即時連接。

And so by creating that right now and the use case and feature set, we are solving that need for you is that we had heard about this very loudly and clearly from a from our users.

因此，透過立即建立用例和功能集，我們正在解決您的需求，因為我們已經從我們的用戶那裡非常響亮且清楚地聽到了這一點。

The focus right now in all the work we're doing on right now and to be explicit, again, only some of the features that will be in a suite of features have been launched and test so far, but there's more to come is user engagement, right?

目前我們正在做的所有工作的重點是，再次明確的是，到目前為止，只有一系列功能中的一些功能已經啟動並進行了測試，但還有更多功能即將推出，以供用戶使用。 ，對嗎？

We're taking the same approach to right now as we did two albums and it's an album went viral and became very, very popular, very, very quickly.

我們現在採取了與製作兩張專輯相同的方法，這張專輯迅速走紅，變得非常非常受歡迎。

That's why so many hundreds of millions of albums and get shared on a regular basis inside Grindr.

這就是為什麼有如此多的數以億計的專輯並在 Grindr 內定期共享。

And then over time, we're able to drive better monetization from that as well by seeing more people convert to paying customers, because to send many albums or to have many albums and view many albums, you need to be a paying customer.

隨著時間的推移，我們也能夠透過看到更多的人轉化為付費客戶來推動更好的貨幣化，因為要發送許多專輯或擁有許多專輯並查看許多專輯，您需要成為付費客戶。

So we think of right now in the same way, right now, it's about user engagement and creating a virality in users because it is a marketplace, so you need people to be engaged with that.

所以我們現在以同樣的方式思考，現在，它是關於用戶參與和在用戶中創造病毒式傳播，因為它是一個市場，所以你需要人們參與其中。

And only after we're successful at that will we think about monetization.

只有在我們成功之後，我們才會考慮貨幣化。

So I would not expect significant monetization from right now in 2024 or in 2025, frankly, and that's not the objective, the objective is user engagement.

因此，坦白說，我預計從現在到 2024 年或 2025 年，不會出現大量貨幣化，這不是目標，目標是用戶參與度。

With Roam, that's a difference story, Roam is an a-la-carte similar to Boost.

對於 Roam，這是一個不同的故事，Roam 是一個類似 Boost 的單點服務。

We said in Investor Day that a quarter of our users are probably more 27% from the weekly active users are traveling any given week.

我們在投資者日表示，我們四分之一的用戶可能有超過 27% 的周活躍用戶在任何一周進行旅行。

So roam is targeted at that user base that is travel, right?

那麼漫遊的目標用戶就是旅行用戶群，對吧？

Because it is about showing your profile in a different market from where you live.

因為它是為了在與您居住地不同的市場中展示您的個人資料。

And so if you think about what success for Roam looks like, it's if it achieves one fourth of what we generate from Boost, that would be like an exceptional outcome.

因此，如果你考慮 Roam 的成功是什麼樣的，如果它達到了我們從 Boost 中獲得的四分之一，那將是一個非凡的結果。

And we believe that so far we are well on track to do that over the next year-and-a-half to two years.

我們相信，到目前為止，我們預計在未來一年半到兩年內實現這一目標。

We have a release from only to a limited amount of users in top countries, but that's a significant expansion of where that is now available.

我們僅向頂級國家/地區的有限數量的用戶發布了該版本，但這是目前可用範圍的顯著擴展。

And our goal is to have it available in a much larger sense, not maybe not everywhere, but in most places by the end of the year.

我們的目標是在更大的範圍內提供它，也許不是在所有地方，但在今年年底前在大多數地方。

And we're very much on track to do that.

我們正在努力做到這一點。

And we expect that in 2025 we will see monetization benefits from Roam.

我們預計，到 2025 年，我們將看到 Roam 帶來的貨幣化收益。

But again, when you think about the magnitude of it, it while that traveling any given week and as they're traveling product, right?

但同樣，當你考慮到它的重要性時，它是在任何特定的一周旅行時以及他們旅行的產品時，對吧？

So if boosted our best a-la-carte and the more successful one, not just for Grindr but actually for every other product like Grindr, the very successful outcome for Roam would be one-fourth of Boost.

因此，如果提升我們最好的點菜和更成功的點菜，不僅對於 Grindr，而且實際上對於像 Grindr 這樣的其他所有產品，Roam 的非常成功的結果將是 Boost 的四分之一。

Great.

偉大的。

That's awesome.

太棒了。

Thank you, George.

謝謝你，喬治。

Thank you.

謝謝。

(Operator Instructions) It looks like there's no additional questions at this time, we'd like to thank you for joining the Grindr's second quarter 2024 earnings call.

（操作員說明）目前似乎沒有其他問題了，我們感謝您參加 Grindr 的 2024 年第二季財報電話會議。

This does conclude today's presentation.

今天的演講到此結束。

You may now disconnect.

您現在可以斷開連線。