Spark Networks SE
spark.netNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Aug 14, 2023. Its latest SEC filing is a SC 13D/A from Nov 13, 2023.
10-Q for Q2 FY2023, filed Aug 14, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Runs online dating websites and mobile apps for singles seeking meaningful relationships, with a focus on older adults and people in faith-based communities.
10-K for FY2022, filed Mar 31, 2023
How Did They Make Money?
Members pay in advance for subscriptions that provide enhanced access to the dating platforms, with service delivered throughout the subscription term. Members can also pay upfront for virtual currency, which brings in revenue when used; advertising revenue is earned when ads are displayed or clicked.
10-K for FY2022, filed Mar 31, 2023The Company enters into contracts with customers that include promises to provide subscription services with enhanced access to our dating…View ↗
Subscribers pay in advance, primarily by credit card or through mobile app stores. The Company records deferred revenue when cash payments…View ↗
Revenue is also earned from virtual currency and advertising. Virtual currency may be redeemed by members and subscribers for certain…View ↗
$187.8M
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10-K for FY2022, filed Apr 1, 2023
$187.8M ↗
Who Were Their Customers?
Singles use the company’s websites and mobile apps; paying subscribers buy enhanced access to the dating platforms, while some basic features are free. Subscribers pay directly by credit card or through mobile app stores.
10-K for FY2022, filed Mar 31, 2023We offer services both via websites and mobile applications accessed mostly through a “subscription” business model, where certain basic…View ↗
The Company enters into contracts with customers that include promises to provide subscription services with enhanced access to our dating…View ↗
Subscribers pay in advance, primarily by credit card or through mobile app stores. The Company records deferred revenue when cash payments…View ↗
Did Revenues Turn Into Profits?
No. It lost $44.2M in FY2022.
10-K for FY2022, filed Apr 1, 2023
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2023, filed Aug 15, 2023
−$26.9MView ↗
- ▲ +207% (Loss)
- vs −$8.8M in Q2 FY2022
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Nov 6, 2023
Nasdaq delisted the company’s securities.
The company said it expected its ADSs to be quoted on the OTC Pink Marketplace.
Sources
8-K, filed Nov 6, 2023
On October 11, 2023, The Nasdaq Stock Market (“Nasdaq”) announced that it would delist the securities of Spark Networks SE (the “Company”).…View ↗
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Oct 10, 2023
The company began a restructuring proceeding that could transfer ownership to MGG.
Under the plan, existing capital stock and ADSs would be eliminated, and MGG SPV 33 LLC would own the company after a cash contribution, if the proceeding succeeds.
Sources
8-K, filed Oct 10, 2023
Upon the successful conclusion of the StaRUG Proceeding and the Restructuring Plan, the Company’s currently outstanding capital stock and…View ↗
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Sep 15, 2023
The company agreed to outsource IT and business operations to Hexaware.
The work includes service desk support, network support, content moderation and product engineering under a statement of work scheduled to run through December 31, 2028, absent termination.
Sources
8-K, filed Sep 15, 2023
The Agreement contains standard representations, warranties, covenants and indemnification obligations. The Agreement allows the Company to…View ↗
A narrower audience focus
The older report focused on professionals and highly educated singles seeking serious relationships; the latest emphasizes older adults and faith-based communities.
20-F for FY2019, filed Jun 12, 2020 10-K for FY2022, filed Mar 31, 2023Spark Networks SE is a leading global operator of premium online dating sites and mobile applications. Its focus is on catering to…View ↗
We are a leader in social dating platforms for meaningful relationships focusing on the 40+ demographic and faith-based affiliations. Since…View ↗
More informal social features
The latest report describes plans to add content, community and social discovery features so users can meet in more informal ways; the older report instead discusses shared user pools and matching across brands.
20-F for FY2019, filed Jun 12, 2020 10-K for FY2022, filed Mar 31, 2023We will continue to expand our presence in North America through significant marketing investment in this region as we look to drive both…View ↗
Who Did They Compete With?
Competes with Match Group, Bumble, ParshipMeet Group, and Facebook
10-K for FY2022, filed Mar 31, 2023We operate in a highly competitive environment with minimal barriers to entry. We believe the primary competitive factors in creating a…View ↗
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