Spark Networks Stock Tumbles On Missing Q1 Earnings, Q2 Guidance Falling Short Of Consensus

Benzinga
2021/05/17
  • Spark Networks SE (AMEX:LOV) reported a first-quarter FY21 revenue decline of 2.2% year-on-year to $56.4 million, beating the analyst consensus of $56.32 million.
  • Average paying subscribers declined 3% Y/Y to 0.9 million. Total registrations fell 7.7% Y/Y to 3.6 million, and the monthly average Revenue Per User rose 0.8% Y/Y to $20.97.
  • Contribution declined 6.6% Y/Y to $26 million.
  • Net loss rose 69.9% Y/Y to $6.5 million from the decrease in contribution and increased personnel costs.
  • EPS loss of $(2.50) missed the analyst consensus of $(0.45) loss.
  • Spark held $17.3 million in cash and equivalents and used $0.39 million in operating cash flow.
  • Spark was on track to launch live streaming on Zoosk and complete the rollout of compelling new aesthetics for its top brands in Q3. Combined with additional future social features, these innovations should lead to higher user engagement across its properties, said CEO Eric Eichmann.
  • Guidance: Spark sees a Q2 revenue outlook of $54 million - $56 million, below the analyst consensus of $57.38 million.
  • Price action: LOV shares traded lower by 18.4% at $5 on the last check Monday.

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