Online-dating company Bumble has a strategy to attract new users, but it is turning away investors after forecasting lower-than-expected earnings in the first quarter.

The stock slid 18% to $6.66 in after-hours trading on Tuesday after reporting earnings for the fourth quarter. Shares ended the regular session 4.3% lower at $8.10, putting them down 40% in the past year.

The Austin, Texas, company guided for revenue of $242 million to $248 million in the current quarter, representing a year-over-year decrease of 7% to 10%. Analysts surveyed by FactSet expected revenue of $256.9 million.

The company attributed the decrease in part to foreign exchange headwinds. Looking forward, Bumble said it is focusing on on three strategic priorities as part of its turnaround efforts to attract more users: strengthening its ecosystem, delivering a better customer experience and enhancing its revenue strategy.

The first two priorities directly pertain to fostering engagement, Whitney Wolfe Herd said on a call with analysts. Wolfe Herd founded Bumble in 2014 and is set to return as chief executive next month.

"Parallel to that has been our revenue strategy, which is about ensuring we have a very thoughtful balancing of our revenue across each tier of our subscriptions," she said. This balancing includes having a free user experience, paywalls in the right places and driving conversions at the right moment.

Bumble's growth strategy will also result in the wind down of two of its dating apps, Fruitz and Official, in the first half of the year. The decision "is about putting our resources and our focus on reimagining dating for our core businesses with Bumble and Badoo," Chief Executive Lidiane Jones said.

The company will continue to focus on some non-dating business, Bumble BFF and Geneva, which focus on forming friendships and real-world clubs and groups, she said.

For the fourth quarter, Bumble said it was unable to provide a net earnings/loss figure, due to accounting with respect to foreign currency exchanges. It posted operating earnings of $37 million, compared with an operating loss of $6.9 million a year earlier.

Revenue fell 4.4% to $261.6 million, but came in just ahead of the $260.5 million that analysts polled by FactSet expected.

Total paying users rose to 4.2 million from 4 million in the prior year. During the same period, average revenue per paying user fell to $20.58 from $22.64.

Bumble's earnings come after rival Match Group earlier this month replaced its top executive as it posted a drop in fourth-quarter earnings and forecast sales below market expectations. The owner of Tinder, Hinge and OkCupid is facing pressure from activist investors to explain its growth strategy, particularly as Gen Z users have snubbed dating apps in favor of real-life interactions.