Having conducted a long and detailed analysis of Match Group, Inc. ( MTCH ) around three months ago—where I rated the stock as a Buy—I’m now focusing my attention mainly on insights fromI’ve managed my investments since 1999, gaining perspective across multiple market cycles. With a background in Economics and ongoing CFA certification, my focus is on uncovering mispriced assets that the market has overlooked.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the compan ...

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Match Group (MTCH) came out with quarterly earnings of $0.82 per share, missing the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.89%. A quarter ago, it was expected that this media and internet company would post earnings of $0.81 per share when it actually produced earnings of $0.72, delivering a surprise of -11.11%.Over the last four quarte ...

Revenue Performance - Total revenue for the three months ended September 30, 2025, was $914.3 million, a 2% increase from $895.5 million in 2024[115] - Total Direct Revenue for the nine months ended September 30, 2025, was $2.55 billion, a slight decrease of $18.1 million, or 1%, from $2.57 billion in 2024[115] - Indirect Revenue increased by 8% to $17.6 million for the three months ended September 30, 2025, compared to $16.3 million in 2024[115] - Total revenue for the nine months ended September 30, 2025, was $866,547,000, which reflects an increase from $928,423,000 in the same period of 2024, showing a decline of approximately 6.7%[159] - Total revenue for the three months ended September 30, 2025, was $914,275,000, representing a $18,791,000 increase or 2% compared to the same period in 2024[163] Direct Revenue Breakdown - Direct Revenue from Tinder decreased by $12.6 million, or 3%, due to a 7% decline in Payers, despite a 5% increase in Revenue Per Payer (RPP)[115] - Hinge's Direct Revenue grew by $39.2 million, or 27%, driven by a 17% increase in Payers and a 9% increase in RPP[116] - Match Group Asia's Direct Revenue decreased by $3.0 million, or 4%, with a total of $69.1 million in Q3 2025[115] - E&E Direct Revenue declined 4% in 2025 versus 2024, driven by a 13% decrease in Payers, partially offset by a 10% increase in RPP[117] - MG Asia Direct Revenue declined $3.0 million, or 4%, in 2025 versus 2024, with RPP decreasing 10% and Payers increasing 6%[118] - Tinder Direct Revenue declined $65.5 million, or 4%, in 2025 versus 2024, impacted by a 7% decrease in Payers, with a consistent foreign exchange rate decline of $67.0 million or 5%[120] - Hinge Direct Revenue grew $101.7 million, or 25%, in 2025 versus 2024, driven by an 18% increase in Payers and a 6% increase in RPP[121] Expenses and Costs - Cost of revenue decreased 2% to $247,043 thousand in Q3 2025, primarily due to a $4.0 million decrease in Variable Expenses[124] - Selling and marketing expense increased 8% to $169,142 thousand in Q3 2025, primarily due to higher acquisition costs[126] - General and administrative expense increased 42% to $148,021 thousand in Q3 2025, primarily due to a legal settlement of $60.5 million at Tinder[128] - Product development expense remained relatively flat at $104,969 thousand in Q3 2025, with a slight increase in stock-based compensation[130] - Impairments and amortization of intangibles decreased 79% to $8,921 thousand in Q3 2025, primarily due to prior year impairments related to terminated services[134] - Depreciation decreased 41% to $14,845 thousand in Q3 2025, primarily due to fully depreciated assets and write-offs related to live streaming services[132] Income and Profitability - Net income attributable to Match Group, Inc. shareholders for Q3 2025 was $160.7 million, an increase of 18% from $136.5 million in Q3 2024[136] - Tinder's operating income decreased by 22% to $183.7 million in Q3 2025, while Adjusted EBITDA fell by 23% to $203.8 million, primarily due to legal settlement costs and revenue decline[137] - Hinge's operating income increased by 10% to $46.3 million, with Adjusted EBITDA rising by 22% to $62.6 million, driven by continued payer growth across all markets[137] - Adjusted EBITDA for the three months ended September 30, 2025, was $301,406,000, compared to $342,540,000 for the same period in 2024, indicating a decrease of about 12.0%[158] - Adjusted EBITDA for the nine months ended September 30, 2025, was $866.5 million, a decrease of 7% from $928.4 million in the same period of 2024[152] Cash Flow and Capital Structure - Total cash and cash equivalents as of September 30, 2025, amounted to $1,053,240,000, up from $965,993,000 as of December 31, 2024[165] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $757,600,000, compared to $678,009,000 in 2024[167] - Net cash used in investing activities for the nine months ended September 30, 2025, was $(67,883,000), an increase from $(51,072,000) in 2024[167] - Total long-term debt as of September 30, 2025, was $4,073,629,000, compared to $3,875,000,000 as of December 31, 2024[165] - The company expects 2025 cash capital expenditures to be between $55 million and $65 million, an increase compared to 2024[177] - The company repurchased 17.4 million shares for $549.9 million during the nine months ended September 30, 2025[179] - As of September 30, 2025, $499.4 million was available under the Credit Facility[174] - The Company may need to raise additional capital through future debt or equity financing to support acquisitions and investments[182] Tax and Interest - For the nine months ended September 30, 2025, interest expense decreased by 13% to $104.4 million compared to $120.5 million in the same period of 2024, mainly due to the repayment of the Term Loan[140] - The effective income tax rate for Q3 2025 was 17%, down from 23% in Q3 2024, primarily due to changes in tax reserves[143] - The company’s total interest expense for the three months ended September 30, 2025, was $37,024,000, compared to $40,120,000 in the same period of 2024, indicating a reduction of approximately 7.0%[158] Market and Foreign Exchange Impact - The impact of foreign exchange rates on revenue is significant, with the company noting that a weaker U.S. dollar positively affects international revenue, while a stronger dollar has the opposite effect[161] - Revenue excluding foreign exchange effects for the three months ended September 30, 2025, was calculated to provide a clearer comparison of performance by eliminating currency volatility[162] Other Financial Information - Match Group reported $365.4 million of unrecognized compensation cost related to stock-based awards as of September 30, 2025, expected to be recognized over approximately 2.0 years[138] - Other income, net for Q3 2025 increased by 31% to $9.3 million, compared to $7.1 million in Q3 2024[142] - MG Asia's operating income improved to $0.8 million in Q3 2025 from a loss of $18.9 million in Q3 2024, with Adjusted EBITDA at $15.3 million[137] - There were no material changes to the Company's critical accounting policies and estimates during the nine months ended September 30, 2025[185] - The Company reported no material changes to its instruments or positions sensitive to market risk since the last annual report[186]

Match Group (NasdaqGS:MTCH) Q3 2025 Earnings Call November 04, 2025 05:00 PM ET Speaker3Good day, and welcome to the Match Group's Third Quarter 2025 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star an ...

Q3 2025 Supplemental Materials February X, 2025 Disclosures and Definitions Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures in addition to financial measures presented in accordance with U.S. GAAP. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. See pages 20-37 for a reconciliation of the non-GAAP financial measures to their most comparable GAAP m ...

Tinder experienced another decline in revenue and a 7% drop in paying users, though Chief Executive Spencer Rascoff said certain new product offerings are gaining traction with Gen Z users. ...

Core Insights - Match Group forecasts fourth-quarter revenue below analysts' estimates, highlighting ongoing challenges in its turnaround efforts [1] - The company struggles to convert casual users on Tinder into paying subscribers, which is critical for revenue growth [1] Financial Performance - The revenue forecast for the fourth quarter is expected to be lower than analysts' expectations, indicating potential difficulties in meeting financial targets [1] User Engagement - There are significant challenges in converting casual swipers into paying users, which is essential for the company's growth strategy [1]

Exhibit 99.2 Q3 2025 Match Group Prepared Remarks Since joining Match Group in February, my focus has been clear: confront challenges directly, move with urgency, and rebuild the company around product excellence and long-term growth. The work on our three-part turnaround is well underway and focused on Reset, Revitalize, and Resurgence. We've successfully completed the "Reset" phase, instilling a culture of speed, accountability, and outcomes, and this shift has come to life across our products, teams, and ...