Spark Networks FY19 Net Loss Widens; Sees Higher Adj. EBITDA, Revenue In FY20

(RTTNews) - Online dating platform Spark Networks SE (LOV) reported Wednesday that its fiscal 2019 preliminary net loss was 16.9 million euros, compared to loss of 4.2 million euros in 2018, as adjusted.

The company said the increase in net loss was primarily attributable to the Spark Networks / Zoosk Merger, which closed in July 2019.

Adjusted EBITDA grew 129 percent to 22.5 million euros from 9.8 million euros in the prior year.

Full-year 2019 revenue increased 44 percent to 149.1 million euros from prior year's 103.4 million euros.

Looking ahead to 2020, the company projects adjusted EBITDA in the range of $30 million to $34 million or 27 million euros to 31 million euros, and revenue in the range of $212 million to $220 million or 193 million euros to 200 million euros.

Eric Eichmann, CEO of Spark Networks, said, "Our business has continued to perform relatively well during the COVID-19 pandemic and I am confident that our innovative product and marketing roadmap will lead to higher revenue and Adjusted EBITDA in 2020 and for years to come."