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Overview

• AI is supercharger on their ability to launch Bumble 2.0 Bumble: AI development is superpower to unlock opportunities & reduce execution risk
• Strong progress and Bumble feels well about tech + team as of the Q4 2025 call conducted in March 2026. Expects launch in Q2 2026.
• Management reiterated Q2 2026 launch of Bumble 2.0 and commentaries on AI Matchmaker buildout suggest that execution is moving according to the plan.
• Potential gross margin and efficiency improvements once the new tech stack is deployed i.e. new teck stack will use less resources.
• Threat 3: Migration from old tech stack to new tech stack is an execution risk and may lead to short-term recurring outages, which lead to user churn.
• Weakness: 2: Marketing spend could rise significantly again alongside product refresh cycle. Product spend could also be materially higher, impacting adjusted EBITDA and lowering incentive for creditors. Headwind should be less than $30m? (Very rough guess) </aside>