Spark Networks Includes Zoosk Financials in First Half 2020 Results
Spark Networks has published its financial results for the first half of 2020. This latest report is the first full-period that includes the financial data from Zoosk, which the Berlin-based company acquired in July last year.
Total revenue was €103.4 million, a 110% year-on-year increase that is largely due to the integration of Zoosk.
Adjusted EBITDA also experienced a significant rise, having reached €17.1 million compared to the €3.8 million from 12 months ago.
Eric Eichmann, CEO of Spark Networks, said in a statement: “I am pleased with our execution and performance in H1 2020. Our increased revenue and Adjusted EBITDA guidance reflects strong business momentum thanks to the delivery of meaningful marketing and product enhancements.
“We have seen an uptick in both engagement and average paying subscribers year-over-year, showing that our business is Covid-19 resilient and setting a good foundation for future growth.”
Spark Networks now has 915,000 paying subscribers across its portfolio and more than 7.6 million total registrants.
The company added Eichmann to its Board of Directors at the beginning of the month, alongside Chelsea Grayson, the former CEO of clothing brands American Apparel and True Religion.
Chairman of the Board of Directors David Khalil explained: “Eric is a visionary leader, helping to reposition the Company, and whose insight, expertise and strong knowledge of our sector make him a natural addition to our Board of Directors.”
Read more here.