Financial Data and Key Metrics Changes - Total group revenue for Q2 2023 was RMB3.14 billion, up 1% year-over-year and 11% sequentially, marking the first year-on-year growth since the pandemic began [8][28] - Adjusted operating income was RMB709 million, a substantial increase of 53% from Q2 last year and up 37% quarter-over-quarter, with a margin of 22.6%, up 8 percentage points year-over-year and 4 percentage points quarter-over-quarter [8][28] - Non-GAAP net income attributable to the company was RMB632.1 million, up 36% year-over-year and 34% from the previous quarter [28] Business Line Data and Key Metrics Changes - Revenue from the Momo app and standalone new apps was RMB2.82 billion, up 1% year-over-year and 12% sequentially, with adjusted operating income of RMB777 million, up 60% year-over-year [9][28] - Tantan's total revenue was RMB321 million, down 3% year-over-year but up 4% quarter-over-quarter, with adjusted operating income of RMB31.89 million, compared to an adjusted operating loss of RMB119 million in Q2 last year [9][19] - Momo's live streaming revenue was RMB1.44 billion, up 3% year-over-year and 12% sequentially, while VAS revenue, excluding Tantan, totaled RMB1.33 billion, up 1% year-over-year and 11% sequentially [14][15][29] Market Data and Key Metrics Changes - Momo's paying users increased by 100,000 to 7.9 million from the previous quarter, indicating a recovery in user engagement [12] - Tantan's user base decreased by 11% to 17.3 million in June due to anti-spam measures, with a net decrease of 200,000 paying users from the previous quarter [18][19] Company Strategy and Development Direction - The strategic priority for Momo is to stabilize user scale, optimize costs, and ensure commercial productivity, shifting focus from MAU growth to profitable user growth [10][13] - Tantan aims to achieve overall breakeven for the year and develop monetization models suitable for the Asian dating culture, with a focus on improving ARPU and retention [17][24] - The company is exploring new markets and optimizing existing products to drive long-term growth, particularly in the Middle East and North Africa [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the operating environment, noting a softening consumer sentiment and potential revenue declines in Q3 due to macroeconomic factors and product adjustments [36][46] - The company anticipates Q3 revenue to range from RMB2.9 billion to RMB3.0 billion, representing a decrease of 10.3% to 7.2% year-over-year [37] Other Important Information - The company has reduced its total employees from 1,825 to 1,470 year-over-year, with a significant decrease in sales and marketing expenses [32] - The company paid RMB937 million in cash dividends to shareholders and prepaid RMB2.26 billion to repurchase convertible senior notes [34] Q&A Session Summary Question: User recovery trend and macro impact on Momo - Management highlighted the focus on stabilizing the user base and increasing productivity, noting that consumer sentiment has softened in Q3, impacting revenue expectations [41][44][46] Question: Updates on new apps and revenue guidance - Management indicated that new domestic apps are maturing, while overseas business is showing satisfactory growth, with expectations for new apps to contribute to revenue in 2024 [48][50][53] Question: Tantan's initiatives and revenue outlook - Management stated that Tantan has achieved breakeven and is focusing on improving ARPU and retention, with a projected sequential decrease in revenue for Q3 due to macro impacts [56][60]

Financial Performance - Total net revenues for Q1 2023 were RMB2,818.9 million (US$410.5 million), a decrease of 10.5% year over year from RMB3,148.1 million in Q1 2022[2] - Net income attributable to Hello Group Inc. increased to RMB390.3 million (US$56.8 million) in Q1 2023, up from RMB289.9 million in the same period of 2022[14] - Income from operations was RMB436.2 million (US$63.5 million) in Q1 2023, compared to RMB352.0 million in Q1 2022[9] - Non-GAAP net income attributable to Hello Group Inc. was RMB471.9 million (US$68.7 million) in Q1 2023, compared to RMB398.5 million in the same period of 2022[14] - Net income for Q1 2023 was RMB 389,461, representing an increase of 35% from RMB 288,782 in Q1 2022[34] - The company reported a comprehensive income of RMB 391,642 for Q1 2023, up from RMB 299,832 in Q1 2022[34] - Momo's total net revenues for the three months ended March 31, 2023, were RMB 2,798,875, a decrease from RMB 3,148,078 in the same period of 2022, representing a decline of approximately 11.1%[47] - The net income for Momo in Q1 2023 was RMB 389,039, compared to RMB 456,542 in Q1 2022, reflecting a decrease of about 14.8%[47] - Non-GAAP net income for Momo was RMB 461,464 for Q1 2023, down from RMB 561,345 in Q1 2022, indicating a decline of approximately 17.8%[51] User Metrics - Monthly Active Users (MAU) on the Momo application were 106.5 million in March 2023, down from 110.9 million in March 2022; Tantan MAU decreased to 19.5 million from 25.6 million[2] - Total paying users for the Momo app were 7.8 million in Q1 2023, compared to 8.6 million in the same period last year; Tantan had 1.6 million paying users, down from 2.4 million[2] Revenue Breakdown - Live video service revenue for Q1 2023 was RMB 1,429,340, down 11.1% from RMB 1,608,723 in Q1 2022[32] - Momo's live video service revenue was RMB 1,483,523 in Q1 2023, compared to RMB 1,608,723 in Q1 2022, reflecting a decline of about 7.8%[47] - The cost of revenues for Momo was RMB 1,644,827 in Q1 2023, which is a decrease from RMB 1,821,388 in Q1 2022, showing a reduction of about 9.7%[47] Cash and Assets - As of March 31, 2023, the company's cash and cash equivalents totaled RMB13,352.2 million (US$1,944.2 million), slightly down from RMB13,398.8 million at the end of 2022[16] - Cash and cash equivalents as of March 31, 2023, were RMB 5,369,904, an increase from RMB 5,018,129 as of December 31, 2022[36] - Total assets increased to RMB 16,196,705 as of March 31, 2023, compared to RMB 15,829,587 as of December 31, 2022[36] - Total liabilities rose to RMB 5,738,718 as of March 31, 2023, from RMB 4,898,949 as of December 31, 2022[36] Expenses - Research and development expenses for Q1 2023 were RMB 236,803, a decrease of 5.3% from RMB 250,195 in Q1 2022[32] - Research and development expenses for the three months ended March 31, 2023, were RMB 236,803, compared to RMB 250,195 for the same period in 2022, reflecting a decrease of 5%[40] - The company reported a share-based compensation expense of RMB 81,657 for the three months ended March 31, 2023, down from RMB 108,616 in the same period of 2022[40] - The share-based compensation for Momo was RMB 72,425 in Q1 2023, compared to RMB 104,803 in Q1 2022, indicating a decrease of approximately 30.9%[48] Future Outlook - For Q2 2023, the company expects total net revenues to be between RMB3.0 billion to RMB3.1 billion, representing a decrease of 3.5% to 0.3% year over year[19] - The company plans to continue focusing on user retention and growth strategies amid uncertainties in the market[29] - Momo's future outlook includes a focus on expanding its user base and enhancing its product offerings to drive revenue growth in the upcoming quarters[46] Shareholder Returns - The company declared a special cash dividend of US$0.72 per ADS in March 2023, totaling US$136.6 million paid to shareholders[17] - The company has repurchased 12.1 million ADSs for US$57.2 million under its share repurchase program as of June 6, 2023[18]

Financial Performance and Key Metrics - Total revenue for Q1 2023 was RMB2.82 billion, down 10% year-over-year and 12% sequentially, but better than expectations as the year-on-year decline narrowed compared to the previous quarter [5][33] - Adjusted operating income was RMB518 million, up 12% year-over-year and 4% sequentially, with a margin of 18%, up 4 percentage points year-over-year and 3 percentage points quarter-over-quarter [6][39] - Non-GAAP net income attributable to the company was RMB471.9 million, up 18% from the year-ago period, despite a decrease in top line [33] Business Line Performance - Revenue from the Momo app and standalone new apps was RMB2.51 billion, down 10% year-over-year and 12% quarter-over-quarter [6] - Tantan's total revenue was RMB309 million, down 12% year-over-year and 11% sequentially, but achieved its first quarterly profit at the operating level with an adjusted operating income of RMB14.48 million [7][22] - Momo's live-streaming revenue was RMB1.29 billion, down 13% year-over-year and 17% sequentially, impacted by COVID and regulatory adjustments [11][34] Market Performance - MAUs for Momo increased by 13% sequentially to 106.5 million in March, recovering after the Chinese New Year [15] - Tantan's MAUs increased by 6% sequentially to 19.5 million, showing recovery after the pandemic and Chinese New Year [19] - The user engagement metrics for Momo showed a strong rebound post-holiday, indicating a recovery in social sentiment [58] Company Strategy and Industry Competition - The company aims to maintain stability in the mature Momo app while optimizing cost structure and enhancing monetization features [9][10] - Tantan's strategic goal is to achieve breakeven for the year and develop monetization models suitable for the Asian dating culture [24][27] - The company is focusing on enriching its product portfolio and developing long-term growth engines through new standalone apps [30] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the macroeconomic environment in China, anticipating a mid to high-single-digit year-over-year growth for the ex-Tantan part [61] - The company expects Q2 revenue to range from RMB3.0 billion to RMB3.1 billion, indicating a potential recovery in consumer spending [41] - Management highlighted the importance of improving marketing ROI and user acquisition efficiency to drive future growth [25][50] Other Important Information - The company has decided to stop disclosing MAU data on a quarterly basis from Q2 onwards, suggesting a focus on paying user trends instead [18] - Non-GAAP gross margin for Q1 was 40.0%, down 1.2% year-over-year but up 0.6% from the previous quarter [36] Q&A Session Summary Question: Update on Tantan's MAU recovery and financial outlook for 2023 - Management noted Tantan's first-ever quarterly profit and emphasized the need to improve user growth and ARPU through new features and cost reduction strategies [44][45] Question: Insights on Tantan's overseas business development - Management highlighted the growth of SoulChill in the Middle East and plans to focus marketing efforts there while cautiously exploring other Southeast Asian markets [49][50] Question: User scale and engagement outlook for Momo app - Management reported a strong rebound in Momo's user engagement post-holiday and expressed confidence in maintaining productivity despite external pressures [56][58]

Revenue and Financial Performance - Revenues from consolidated affiliated entities accounted for 99.2%, 98.4%, and 95.7% of total revenues for the years ended December 31, 2020, 2021, and 2022, respectively [15]. - Total third-party revenues for Hello Group Inc. reached RMB 12,704,172 thousands, with a significant contribution from other subsidiaries amounting to RMB 549,310 thousands [35]. - The net income attributable to Hello Group's shareholders was RMB 1,484,283 thousands, reflecting a strong performance despite the challenges faced [35]. - Total costs and expenses amounted to RMB 11,097,261 thousands, indicating a comprehensive management of operational expenditures [35]. - The company reported inter-company revenues of RMB 4,134,173 thousands, highlighting substantial internal transactions [35]. - Net revenues for the year ended December 31, 2020, were RMB 15,024,188 thousand, a decrease from RMB 17,015,089 thousand in 2019, representing a decline of approximately 11.7% [49]. - The cost of revenues for 2020 was RMB 7,976,781 thousand, compared to RMB 8,492,096 thousand in 2019, reflecting a decrease of about 6.1% [49]. - Net income attributable to Hello Group Inc. for 2020 was RMB 2,103,484 thousand, down from RMB 2,970,890 thousand in 2019, a decline of about 29.1% [49]. - Basic net income per share attributable to ordinary shareholders for 2020 was RMB 5.05, compared to RMB 7.15 in 2019, a decrease of approximately 29.4% [49]. - The company reported a net cash provided by investing activities of RMB 1,963,939 thousand for Hello Group Inc. [43]. Dividends and Cash Flow - Cash dividends declared and distributed by Hello Group Inc. were US$158.6 million, US$132.0 million, and US$127.3 million for the years ended December 31, 2020, 2021, and 2022, respectively [24]. - Beijing Momo IT declared and distributed dividends of RMB2,200.0 million, RMB1,300.0 million, and RMB3,600.0 million (US$522.0 million) for the years ended December 31, 2020, 2021, and 2022, respectively [25]. - Cash dividends received from subsidiaries totaled RMB 1,153,506 thousand for Hello Group Inc. and RMB 1,300,000 thousand for other subsidiaries [43]. - Total cash dividends received from subsidiaries amounted to RMB 1,976,631 thousand in 2020, while cash dividends paid to Hello Group Inc. were RMB 1,976,631 thousand [44]. - The total amount restricted for remittance of dividends by mainland China subsidiaries was RMB1.5 billion (US$0.2 billion) as of December 31 for the years 2020, 2021, and 2022 [24]. Regulatory and Compliance Risks - The PCAOB's ability to inspect auditors in mainland China and Hong Kong may impact the trading of Hello Group Inc.'s shares under the Holding Foreign Companies Accountable Act [22]. - The company may face risks related to regulatory approvals and oversight in mainland China, which could materially affect operations and the value of its ADSs [20]. - The company is focusing on technological advancements and research to drive innovation and competitiveness in the market [36]. - The mainland China government has increased focus on environmental, social, and governance (ESG) issues, which may impose additional costs and risks on the company [159]. - The company faces significant risks related to regulatory compliance and market dynamics, which could adversely affect its operations and financial performance [57]. - The company is actively monitoring the evolving regulatory environment to mitigate risks associated with compliance and operational challenges [90]. - The company faces uncertainties regarding the interpretation and enforcement of new data protection laws, which could impact future business operations [86]. - The company must obtain and maintain required licenses and approvals to avoid penalties that could disrupt business operations [95]. Operational Challenges and Market Dynamics - The company is facing intensified government regulations in mainland China that could restrict user traffic and spending on its platform, negatively impacting business operations and financial condition [90]. - User engagement and retention are critical for the company's success, with potential risks associated with declining user base and engagement levels [61]. - The mobile social and dating industry is highly competitive, with low switching costs for consumers, which may lead to a decrease in user engagement if competitors offer more appealing features [107]. - The company may face increasing costs and expenses as it seeks to broaden its user base and enhance user engagement, potentially leading to significant future losses if revenues do not keep pace [128]. - The COVID-19 pandemic has negatively impacted user demand for social network platforms, contributing to a decrease in revenues from live video services in 2020, 2021, and 2022 [156]. - The company anticipates that the ongoing effects of COVID-19 may continue to adversely affect its business, financial condition, and results of operations in the current and future years [157]. Strategic Initiatives and Future Outlook - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams [36]. - The company plans to continue investing in research and development to enhance its product offerings and market position [49]. - The company plans to continue exploring new monetization models and launching new services to diversify revenue streams [65]. - The company plans to continue significant investments in expanding live video services despite declining profitability from the virtual items-based revenue model [72]. - The ability to maintain and increase the number of paying users is critical for future growth, with risks of user attrition due to shifting interests [74]. Asset and Liability Management - Cash and cash equivalents stood at RMB 5,018,129 thousands, providing a solid liquidity position for future investments [39]. - Total assets were reported at RMB 15,829,587 thousands, showcasing the company's robust asset base [39]. - The total liabilities amounted to RMB 4,898,949 thousands, indicating a manageable debt level relative to assets [39]. - Total assets amounted to RMB 18,111,238 thousand, with Hello Group Inc. contributing RMB 14,661,087 thousand [40]. - Total liabilities reached RMB 7,525,641 thousand, with non-current liabilities at RMB 5,009,876 thousand [40]. - Total shareholders' equity was RMB 10,585,597 thousand, with Hello Group Inc. contributing RMB 9,994,521 thousand [40]. Acquisitions and Integration - The acquisition of Tantan was completed in May 2018 for approximately 5.3 million newly issued Class A ordinary shares and US$613.2 million in cash, presenting significant integration challenges [105]. - Tantan has historically not been profitable since its monetization began in July 2017, and considerable expenditures are required to attract and retain users [110]. - The acquisition of Tantan, which has historically not been profitable, may negatively impact the company's financial performance if Tantan continues to incur losses [130]. Cybersecurity and Data Protection - The Cybersecurity Review Measures require network platform operators holding personal information of over one million users to undergo a cybersecurity review before any initial public offering at a foreign stock exchange, introducing substantial uncertainties [203]. - The company has implemented procedures to monitor content on its platform to comply with relevant laws, but risks remain regarding potential penalties for non-compliance [101]. - The company has not been involved in any formal investigations regarding cybersecurity review as of the date of the report [86].

Hello Group Inc. (NASDAQ:MOMO) Q4 2022 Results Conference Call March 16, 2023 8:00 AM ET Company Participants Ashley Jing - Head, IR Tang Yan - CEO Peng Hui - CFO Conference Call Participants Leo Chiang - Deutsche Bank Thomas Chong - Jefferies Xueqing Zhang - CICC Henry So - JPMorgan Operator Ladies and gentlemen, thank you for standing by, and welcome to Fourth Quarter and Fiscal Year 2022 Hello Group Inc. Earnings Conference Call. All participants are in a listen-only mode. There will be a presentation fo ...

Exhibit 99.1 Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2022 BEIJING, CHINA, March 16, 2023 – Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading mobile social and entertainment platform in China, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2022. Fourth Quarter of 2022 Highlights • Net revenues decreased by 12.6% year over year to RMB3,212.7 million (US$465.8 million*) i ...

Hello Group Inc. (NASDAQ:MOMO) Q3 2022 Results Conference Call December 8, 2022 8:00 AM ET Company Participants Ashley Jing - Head, IR Tang Yan - CEO Peng Hui - CFO Conference Call Participants Thomas Chong - Jefferies Leo Chiang - Deutsche Bank Henry Wibowo - JP Morgan Raphael Chen - BOCI Xueqing Zhang - CITC Operator Ladies and gentlemen, thank you for standing by, and welcome to Third Quarter 2022 Hello Group Inc. Earnings Conference Call. All participants are in a listen-only mode. There will be a prese ...

Hello Group Inc. (NASDAQ:MOMO) Q2 2022 Results Conference Call September 1, 2022 8:00 AM ET Company Participants Ashley Jing - Head, IR Wang Li - CEO Peng Hui - CFO Conference Call Participants Thomas Chong - Jefferies Henry Wibowo - JPMorgan Leo Chiang - Deutsche Bank Operator Ladies and gentlemen, thank you for standing by, and welcome to Second Quarter 2022 Hello Group Inc. Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded today. I would now like to hand the conf ...