09:11 AM EDT, 06/25/2025 (MT Newswires) -- Bumble (BMBL) shares were up over 15% premarket Wednesday after the company's board said it approved a reduction of about 240 roles, representing 30% of its global workforce.

With the workforce reduction, the company said it expects to achieve up to $40 million in annual cost savings. The online dating app provider said it expects to incur about $13 million to $18 million of non-recurring charges, consisting primarily of employee severance, benefits, among others.

For Q2, Bumble said it expects revenue of between $244 million and $249 million, up from a prior outlook of $235 million to $243 million. Q2 adjusted EBITDA is now expected to be between $88 million and $93 million, up from a prior guidance of $79 million to $84 million.

Analysts surveyed by FactSet are expecting Q2 revenue of $240 million.