Grindr Inc. Common Stock (GRND)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses with durable advantages, honest financials, and a price that leaves room for error. Grindr is a niche network: a social and dating platform for LGBTQ+ adults, with subscription and advertising revenue. The niche and brand give it some staying power, though switching costs are low and competition for attention is fierce. The turnaround is real. In fiscal 2023, the year ended 2023-12-31, it reported revenue of $259.7 million and a net loss of $55.8 million; in fiscal 2024, the year ended 2024-12-31, revenue was $344.6 million and net loss $131.0 million; in fiscal 2025, the year ended 2025-12-31, revenue reached $439.9 million and net income $94.8 million, or diluted EPS of $0.43. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $138.1 million and net income $17.7 million. That is genuine growth, and trailing free cash flow of $142.9 million gives a 5.3% FCF yield at the 2026-10-13 close. But the balance sheet and valuation need humility. Debt-to-equity of 470.77 and a P/B of 1,340.00, per FairStock, mean the equity cushion is thin; return on equity of 108.65% is likely flattered by leverage. At $15.47, the P/E is 32.91 and EV/EBITDA is 20.20. A PEG of 0.28 is attractive if growth persists, but dating apps can lose users quickly. Altman Z of 3.79 and Piotroski 6/9 suggest not distressed, yet not fortress-like. This is a Lynch turnaround with momentum, not a Graham bargain. I would demand a wider discount before calling it safe.

In plain English: Grindr runs a dating and social app mainly for LGBTQ+ people, making money from subscriptions and ads. It has grown quickly, turned profitable, and generates cash, but it also carries a lot of debt and its stock price is high compared with its profits. The price looks more fair than cheap given the risks.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer