Financial Data and Key Metrics Changes - Match Group's total revenue for Q1 was $831 million, down 3% year over year, and down 1% year over year on a foreign exchange neutral basis [24] - Adjusted operating income (AOI) for the quarter was $275 million, down 2% year over year, representing a margin of 33% [31] - Operating income (OI) was $173 million, down 7% year over year, with a margin of 21% [31] Business Line Data and Key Metrics Changes - Tinder's direct revenue was $447 million, down 7% year over year, with payers declining 6% to 9.1 million [24][25] - Hinge's direct revenue increased by 23% year over year to $152 million, with payers growing 19% to 1.7 million [26] - E and E's direct revenue was $149 million, down 12% year over year, with payers declining 16% to 2.4 million [28] Market Data and Key Metrics Changes - Match Group Asia's direct revenue was $64 million, down 11% year over year, with payers increasing 5% to 1 million [29][30] - Indirect revenue reached a record high, up 31% year over year, driven by increased spending from top advertisers [24] Company Strategy and Development Direction - The company is transitioning from a collection of independently managed brands to a unified product-led organization to enhance innovation and user outcomes [6][8] - A planned 13% workforce reduction aims to achieve over $100 million in annualized savings, allowing for reinvestment in growth initiatives [7][40] - The focus is on international expansion, with Hinge launching in Brazil and Mexico, and The League entering the Middle East and India [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving margin goals despite macroeconomic challenges, emphasizing a resilient subscription revenue model [35][64] - The company is prepared to take pricing or merchandising actions to mitigate potential impacts from economic downturns [64] - Management highlighted the importance of trust and safety initiatives to improve user perception and engagement [95] Other Important Information - The company plans to maintain its commitment to return 100% of free cash flow to shareholders through share buybacks and dividends [33] - The restructuring efforts are expected to enhance product execution and accelerate innovation, positioning the company for long-term growth [38] Q&A Session Summary Question: How is the company balancing investment and efficiencies? - The company announced deep cuts to create a more nimble organization while reinvesting savings into international expansion and product development [39][40] Question: What are the priorities for the company moving forward? - The CEO emphasized operating as one unified Match Group, growing Tinder's audience, and supporting Hinge's growth in the intentional dating category [42][46] Question: What is the outlook for Tinder's paying user trajectory? - Management does not expect payer trends to grow this year, anticipating continued declines at a stable rate until product innovations yield results [70] Question: How is the company addressing potential macroeconomic impacts? - The company is monitoring early signs of weakening trends and is prepared to adjust pricing and marketing strategies accordingly [64][65] Question: What is the health of the online dating industry? - The online dating category faces challenges primarily due to a lack of innovation, but the company believes it can drive improved momentum through product innovation [95]

Q1 2025 Business Performance - Match Group's total direct revenue was $812.4 million, a decrease of 4% year-over-year[8] - Tinder's direct revenue was $447.4 million, down 7% year-over-year, with 9.107 million payers, a decrease of 6% year-over-year[8] - Hinge's direct revenue was $152.2 million, up 23% year-over-year, with 1.697 million payers, up 19% year-over-year[8] - Evergreen & Emerging brands' direct revenue was $149.2 million, down 12% year-over-year, with 2.395 million payers, down 16% year-over-year[8] - Match Group Asia's direct revenue was $63.7 million, down 11% year-over-year, with 999 thousand payers, up 5% year-over-year[8] Consolidated Financial Highlights - Match Group's total revenue for Q1 2025 was $831.2 million[47] - Match Group's total payers were 14.198 million in Q1 2025[47] - Match Group's revenue per payer (RPP) was $19.07 in Q1 2025[47] - Match Group's operating income was $172.6 million with a 21% margin, while adjusted operating income was $275.2 million with a 33% margin[8]

Exhibit 99.2 Q1 2025 Match Group Prepared Remarks This is my first full-quarter earnings call as CEO, and I want to start by saying how proud I am to be here, and how energized I am by the opportunity ahead. We're a company with a powerful mission – to spark meaningful connections. Our job is to deliver on that mission with urgency, excellence, and a consumer-first mindset by building products that reflect how people want to connect today. Over the last three months, I have visited many of our offices aroun ...

Core Insights - Match Group's new CEO, Spencer Rascoff, emphasizes a swift revitalization of the business, showcasing early positive results in the first quarter of 2025 [2] - The company is undergoing a reorganization to enhance integration, product focus, and innovation, aligning with the preferences of Gen Z users [2][3] - A planned 13% workforce reduction and centralization of key functions aim to improve efficiency and reduce duplication across the organization [3][4] Financial Performance - Total revenue for Q1 2025 was $831 million, a decline of 3% year-over-year, with direct revenue also down by 4% to $812 million [7][8] - Operating income decreased by 7% to $173 million, maintaining an operating income margin of 21% [8][22] - Adjusted operating income was $275 million, down 2% year-over-year, with an adjusted operating income margin of 33% [8][9] User Metrics - The number of payers decreased by 5% year-over-year to 14.2 million, while revenue per payer (RPP) increased by 1% to $19.07 [8][9] - Operating cash flow for the quarter was $193 million, with free cash flow at $178 million [15][35] Shareholder Returns - The company repurchased 6.1 million shares at an average price of $32, totaling $195 million, and paid $48 million in dividends [8][16] - A cash dividend of $0.19 per share was declared, payable on July 18, 2025 [12][21] Future Outlook - For Q2 2025, Match Group anticipates total revenue between $850 million and $860 million, with adjusted operating income projected between $295 million and $300 million [19][33] - The adjusted operating income margin is expected to be approximately 35% at the midpoint of the revenue range [19][33] Cash and Debt Position - As of March 31, 2025, Match Group had $414 million in cash and cash equivalents, with long-term debt totaling $3.5 billion [20][22] - The company’s leverage ratio was 2.8x on a gross basis and 2.4x on a net basis [20]

In its upcoming report, Match Group (MTCH) is predicted by Wall Street analysts to post quarterly earnings of $0.67 per share, reflecting an increase of 52.3% compared to the same period last year. Revenues are forecasted to be $827.91 million, representing a year-over-year decrease of 3.7%. The consensus EPS estimate for the quarter has undergone an upward revision of 2.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ini ...

Core Viewpoint - Match Group has appointed Kelly Campbell, former president of NBCUniversal's Peacock, to its Board of Directors as part of its ongoing transformation strategy [1][2][3]. Group 1: Board Changes - The addition of Kelly Campbell is expected to enhance the Board's skills and expertise, particularly in consumer-facing technology and brand equity development [2]. - With Campbell's election, over one third of Match Group's directors will be new within the past year, indicating a significant shift in the Board's composition [3]. Group 2: Collaboration with Anson Funds - Match Group and Anson Funds have entered into an information sharing agreement to facilitate collaboration and support the company's transformation and growth strategy [4]. - Anson Funds has agreed to withdraw its director nominations and proposal to declassify the Board, signaling a constructive engagement with Match Group [5]. Group 3: Corporate Governance - The upcoming Annual Meeting will include a proposal to amend Match Group's certificate of incorporation to declassify the Board, reflecting the company's commitment to strong corporate governance practices [6]. Group 4: Kelly Campbell's Background - Kelly Campbell has a strong background in the streaming industry, having led Peacock to record growth and previously served as President of Hulu, where she oversaw its integration into Disney [7]. - Her experience at Google adds to her understanding of brand, technology, and global marketing, which will be beneficial for Match Group [7]. Group 5: Company Overview - Match Group is a leading provider of digital technologies aimed at helping people make meaningful connections, with a portfolio that includes brands like Tinder, Hinge, and OkCupid, available in over 40 languages globally [8].

Core Viewpoint - The earnings season is particularly significant this year due to recent changes that may affect companies' near-term guidance [1] Company Overview - Kimberly-Clark reported weaker-than-expected results and has cut its full-year outlook [2] - The company has a diverse portfolio of everyday-use brands and professional products centered on paper [2] Financial Performance - Kimberly-Clark has maintained steady demand for its products, allowing it to raise its dividend for 53 consecutive years, earning it a place among Dividend Kings [3] - The stock currently yields 3.8%, making it an attractive source of passive income [3] - The company has lowered its 2025 organic sales growth guidance from an expected outperformance of 2% to a range of 1.5% to 2% [6] - Adjusted earnings per share (EPS) guidance has been revised to flat to positive on a constant currency basis, down from mid-to-high single-digit growth [6] - Free cash flow (FCF) is now expected to be $2 billion, compared to an earlier forecast of more than $2 billion [7] Historical Context - Kimberly-Clark's stock price has stagnated over the last decade, with operating margins consistently in the mid-teens and modest revenue growth in recent years [8] - The company has been underperforming its peer group for several years [10] Strategic Initiatives - The company launched its Powering Care strategy to reorganize into three segments, aiming to streamline operations and enhance flexibility [11] - The impact of this strategy is expected to take time to reflect in the company's results [11] Investment Appeal - Despite recent challenges, Kimberly-Clark's reliable dividend and improved balance sheet, with total net long-term debt at $6.7 billion, make it appealing to risk-averse investors [12][13] - The stock trades at a price-to-earnings (P/E) ratio of 18.3, below its 10-year median of 23.1, suggesting it may be undervalued [13] - The stock is considered a good buy for income investors, offering a higher yield compared to peers like Procter & Gamble, which has a lower yield of 2.7% and a higher P/E of 26.7 [14][15] Future Outlook - With lowered growth projections, Kimberly-Clark has more potential for positive surprises [16] - The sizable 3.8% yield provides a strong incentive for income investors to hold the stock [16]

Core Insights - The article discusses the increasing importance of AI-powered investing systems in identifying investment opportunities and managing market volatility, particularly in the context of recent market fluctuations and trade tensions [1][5][31] AI-Powered Investing Systems - AI algorithms have been developed to analyze vast amounts of data, uncovering connections between fundamental data and future returns that are often missed by human analysts [1] - The AI system "An-E" has been trained on over 1.3 quadrillion data points and is designed for quick reactions to market news, allowing for rapid gains [6][28] Recent Investment Opportunities - Sight Sciences Inc. (SGHT) was identified before a 135% rally, and Nvidia Corp. (NVDA) was noted before a 30% rally, indicating the effectiveness of AI in predicting stock movements [2] - Papa John's International Inc. (PZZA) is highlighted as a strong investment opportunity, trading at 18 times forward earnings after a 35% selloff, with a dividend yield of 5.5% [12][13] - SpartanNash Co. (SPTN) is positioned as a stable investment with a dividend yield above 4.5% and shares trading at 0.9 times book value, suggesting a buying opportunity [16] - Coupang Inc. (CPNG) is expected to benefit from shifts in trade patterns due to tariffs, with analysts raising 2026 earnings-per-share forecasts to $0.83 [20] - Dollar General Corp. (DG) is recommended as a defensive stock with a low valuation of 16 times earnings, making it an attractive option during economic downturns [23] - JBT Marel Corp. (JBTM) is noted for its recent 25% drop in share price, which places it in oversold territory, despite having better protections against tariffs post-merger [25][26] Market Trends and Predictions - The article emphasizes the volatility of the current market, driven by news cycles and trade tensions, which necessitates the use of AI tools for informed decision-making [5][29] - An-E's predictive capabilities are highlighted, with the system able to forecast stock movements over the next 21 trading days and provide a "Confidence Gauge" for its predictions [28][30]

Core Insights - Brera Holdings PLC is expanding its global portfolio of football clubs through a multi-club ownership strategy, with S.S. Juve Stabia's Serie B match against Cremonese being broadcast live in English across the U.S., Canada, and the U.K. [2][4] - Juve Stabia is gaining international recognition, currently ranking 5th in Serie B, with a notable 36.9% increase in squad value since mid-March and a season-high home attendance of 7,000 fans [4][5] Company Overview - Brera Holdings PLC, based in Ireland, focuses on developing a global portfolio of emerging football and sports clubs, building on the legacy of Brera FC, which it acquired in 2022 [6][9] - The company has made strategic investments in various clubs, including a 90% stake in Fudbalski Klub Akademija Pandev in North Macedonia and a majority stake in UYBA Volley, an Italian women's volleyball team [8][9] Strategic Initiatives - The broadcast of Juve Stabia's match is part of a growing interest among U.S. audiences for European football, particularly Serie B, which is known for its competitive nature and emerging talent [5] - Brera Holdings aims to expand its international footprint and attract a broader base of supporters through partnerships like the one with Destination Calcio [5][9]

Core Viewpoint - Match Group has appointed Darrell Cavens, a seasoned e-commerce executive, to its Board of Directors as part of its ongoing board refreshment strategy, enhancing its expertise in digital commerce and technology-driven innovation [1][2][3] Company Developments - Darrell Cavens brings nearly 20 years of leadership experience in e-commerce and technology, having co-founded and led Zulily to its public offering and completed various M&A transactions [4][5] - Cavens has held leadership roles at Qurate Retail and Microsoft, and served as Chief Technology Officer at Blue Nile, contributing to scaling it into the largest online diamond retailer [5] - The Board will seek stockholder approval to declassify the Board structure, moving from staggered three-year terms to one-year terms for directors elected at the 2026 Annual Meeting [6][7] Governance and Shareholder Engagement - The Board has recommended against the director nominees proposed by Anson Funds, asserting that their candidates do not bring additional relevant skills for Match Group's strategic priorities [8][12] - Anson Funds owns less than 0.5% of Match Group's common stock, significantly less than the Board members [13] - The Board remains open to stockholder input, having previously appointed new members following constructive engagement with Elliott Management [11]