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Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024
MOMOHello (MOMO) Prnewswire·2025-03-12 08:11

Core Viewpoint - Hello Group Inc. reported its unaudited financial results for Q4 and the full year of 2024, highlighting challenges and opportunities faced during the year, with a focus on the performance of its Momo and Tantan segments and plans for future growth and innovation in international markets [3][4]. Q4 2024 Highlights - Total net revenues for Q4 2024 were RMB2,636.5 million (US361.2million),adecreaseof12.2361.2 million), a decrease of 12.2% from RMB3,002.9 million in Q4 2023 [4][15]. - Live video service revenues decreased by 17.0% to RMB1,264.9 million (US173.3 million) due to operational adjustments and soft consumer sentiment [5]. - Value-added service revenues fell by 6.9% to RMB1,326.8 million (US181.8million),impactedbyproductadjustmentsandadeclineinTantan′spayingusers[6].−NetincomeattributabletoHelloGroupInc.wasRMB187.2million(US181.8 million), impacted by product adjustments and a decline in Tantan's paying users [6]. - Net income attributable to Hello Group Inc. was RMB187.2 million (US25.6 million), down from RMB452.5 million in Q4 2023 [15][19]. - Monthly Active Users (MAU) on Tantan app decreased to 10.8 million in December 2024 from 13.7 million in December 2023 [15]. Full Year 2024 Highlights - Full year net revenues were RMB10,563.0 million (US1,447.1million),adecreaseof12.01,447.1 million), a decrease of 12.0% from RMB12,002.3 million in 2023 [22][23]. - Net income attributable to Hello Group Inc. for the full year was RMB1,039.6 million (US142.4 million), compared to RMB1,957.6 million in 2023 [22]. - Non-GAAP net income for the full year was RMB1,232.9 million (US168.9million),downfromRMB2,224.7millionin2023[23].CashandCashFlow−AsofDecember31,2024,theCompanyhadcashandcashequivalentstotalingRMB14,728.5million(US168.9 million), down from RMB2,224.7 million in 2023 [23]. Cash and Cash Flow - As of December 31, 2024, the Company had cash and cash equivalents totaling RMB14,728.5 million (US2,017.8 million), an increase from RMB13,478.5 million as of December 31, 2023 [21]. - Net cash provided by operating activities in Q4 2024 was RMB423.6 million (US58.0million),comparedtoRMB415.9millioninQ42023[21].RecentDevelopments−TheboardofdirectorsdeclaredaspecialcashdividendofUS58.0 million), compared to RMB415.9 million in Q4 2023 [21]. Recent Developments - The board of directors declared a special cash dividend of US0.30 per ADS, totaling approximately US50million,tobepaidonApril30,2025[25].−TheShareRepurchaseProgramwasamendedtoincreasethetotalauthorizationtoUS50 million, to be paid on April 30, 2025 [25]. - The Share Repurchase Program was amended to increase the total authorization to US486.1 million, with a remaining size of US$222 million as of March 12, 2025 [26][27]. Business Outlook - For Q1 2025, the Company expects total net revenues to be between RMB2.4 billion to RMB2.5 billion, representing a decrease of 6.3% to 2.4% year over year [28].