Grindr’s chief product officer sells shares worth $491,377

In recent transactions reported to the Securities and Exchange Commission, Austin J. Balance, Chief Product Officer at Grindr Inc. (NYSE:GRND), executed a series of stock transactions involving the company’s common stock. The transactions come as Grindr’s shares trade near their 52-week high of $19.20, having delivered an impressive 129% return over the past year according to InvestingPro data. On March 3, 2025, Balance sold 26,305 shares at an average price of $18.68 per share, totaling $491,377. These sales were executed as part of a pre-established Rule 10b5-1 trading plan.

Additionally, Balance exercised stock options to acquire 26,305 shares at a price of $4.20 per share, amounting to $110,481. Following these transactions, Balance’s direct ownership in Grindr Inc. stands at 640,645 shares.

The transactions also included the withholding of 34,379 shares to cover tax obligations related to restricted stock units that vested on February 26, 2025.

In other recent news, Grindr reported its financial results for the fourth quarter of 2024, revealing a significant revenue growth of 35% year-over-year, reaching $98 million and surpassing the expected $91 million. The company’s full-year revenue for 2024 amounted to $345 million, marking a 33% increase from the previous year. Despite these strong financial figures, Grindr’s stock experienced a decline of 7.06% in after-hours trading. The company is actively investing in AI technology and expanding its engineering team as part of its growth strategy.

Grindr’s adjusted EBITDA margin for 2024 was reported at 43%, with cash and cash equivalents standing at $59.2 million. The company also announced plans for a share repurchase program of up to $500 million, demonstrating confidence in its long-term potential. Looking ahead, Grindr projects a revenue growth of 24% or higher for 2025, with an adjusted EBITDA margin of at least 41%. The company is also planning to launch a new product in the health and wellness space. Analyst firms, such as Raymond (NSE:RYMD) James, have shown interest in Grindr’s product development and capital allocation strategies, reflecting ongoing investor engagement.

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