You can’t really blame Ashley Madison for the headlines they’re churning out.
After all, the site has had to deal with a massive influx of users in recent years.
So when they released their first earnings report on Monday, you’d think the company would have something to celebrate.
But the answer is actually rather more depressing.
They reported an 18 percent decline in revenue, a drop of nearly $50 million.
That’s in addition to a $40 million increase in expenses.
That $40m figure doesn’t account for the millions of dollars in lost advertising revenue that the company lost in the first quarter of 2018.
As for Ashley Madison’s new CEO, Mark Pincus, the news was not pretty either.
According to The Washington Post, he is now a partner at the investment firm Blackstone, a firm that has made a number of big bets in the tech industry, including Uber and Airbnb.
And while he did not immediately respond to a request for comment, he did tweet: Ashley Madison is one of the most successful brands in the world, and it is a great business to be in.
I believe in the company.
It is a beautiful thing.
The New York Times’ Adam Lashinsky called the earnings report a “sneaky” move and an “unprecedented” one, saying the company has “fallen far short of expectations.”
“As a result, we believe the company is no longer sustainable,” he wrote.
That may be true, but if Ashley Madison ever truly becomes the new normal, it may have a long way to go before it’s a sustainable business.
Follow Jamie on Twitter: @JamieHornaday