Bumble Inc. (BMBL) reported its Q4 FY23 results, revealing a revenue increase to $273.6 million from $241.6 million in the previous year and provided FY24 guidance. Despite this growth, the company experienced a net loss of $32 million, or 19 cents per share, an improvement from the previous year's loss of $159.2 million, or 35 cents per share. As part of its strategy to improve profitability, Bumble announced plans to cut about 350 roles, aiming for annualized operational expenditure savings of approximately $55 million, which represents about 5% of its FY23 revenues. The company intends to reinvest around $15 million of these savings. For FY24, Bumble forecasts at least 300 basis points of year-over-year EBITDA margin expansion. However, the company's shares fell to an all-time low following a downbeat quarterly revenue forecast, highlighting the challenges it faces amid sluggish user spending and the need for innovation in the dating app industry. New CEO Lidiane Jones is steering Bumble through these challenges, emphasizing the need for innovation.