A complexity about Match Group is that we’re a portfolio of brands; we’re not just one product. So a lot of what I do is help decide, alongside the CEO and the CRO, how to best allocate capital. For example, we have roughly a $600 million marketing budget, and we have to determine which brands get the funds and how that money gets spent.So really, my superpower is that I know the business inside and out. I don’t just know finance, I know how the business operates and runs, and I can bring that perspective t ...

Q4 2025 Supplemental Materials FEBRUARY 3, 2026 February X, 2025 Q4 2025 | SUPPLEMENTAL MATERIALS 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 -38 for a reconciliatio n of the non ...

Match Group beat Wall Street's estimates on Tuesday but issued weak guidance as it invests in new artificial intelligence initiatives to turn around declining user growth at Tinder. Shares popped 12% during extended trading. The stock closed 8% lower on Tuesday.Here's how the company did versus LSEG estimates:Earnings per share: 83 cents vs. 70 cents expectedRevenue: $878 million vs. $871 million expectedThe dating platform issued lackluster guidance for 2026, forecasting between $3.41 billion and $3.54 bil ...

Group 1 - Match Group will release its financial results for Q4 and full year 2025 on February 3, 2026, after market close [1] - A quarterly conference call to discuss the results will be held at 5:00 p.m. ET on the same day [1] - A live webcast of the conference call and supplemental investor materials will be available online [2] Group 2 - Match Group is a leading provider of digital technologies aimed at helping people make meaningful connections [3] - The company's portfolio includes brands such as Tinder, Hinge, Match, Meetic, OkCupid, Pairs, PlentyOfFish, Azar, and BLK, designed to enhance user connections [3] - Services are offered in over 40 languages, catering to a global user base [3]

Core Viewpoint - Match Group (NASDAQ:MTCH) is recognized as a strong investment opportunity in the communication services sector, with analysts providing positive ratings and price targets indicating significant upside potential. Group 1: Analyst Ratings and Price Targets - Shweta Khajuria from Wolfe Research reaffirmed a Buy rating for Match Group, raising the price target from $42 to $43, suggesting a potential upside of approximately 32% [1] - RBC Capital analyst Brad Erickson also maintained a Buy rating, setting a target price of $37, which implies an upside of around 13.5% [3] Group 2: Company Overview - Match Group operates several online dating platforms and offers digital technologies aimed at facilitating personal connections, with notable brands including Tinder, OurTime, Plenty of Fish, Hinge, Match, Meetic, OkCupid, and Pairs [4] Group 3: Market Trends and Expectations - The outperformance of Internet stocks over the past three years is highlighted, with expectations for this trend to continue, driven by advancements in AI and product development spending, alongside strong macroeconomic forecasts [2]

Company Overview - Match Group, Inc. (MTCH) has a market capitalization of $7.5 billion and operates a global portfolio of dating and social connection platforms across four segments: Tinder, Hinge, Evergreen and Emerging, and Match Group Asia, with services offered in over 40 languages [1] Financial Performance - Analysts predict that Match Group will report an EPS of $0.80 for fiscal Q4 2025, representing a 29% increase from the previous year's EPS of $0.62 [2] - For fiscal 2025, the company is expected to post an EPS of $2.57, a rise of 15.3% from $2.23 in fiscal 2024, with projections of a further increase to $3 in fiscal 2026, reflecting a year-over-year growth of 16.7% [3] Stock Performance - Over the past 52 weeks, MTCH stock has decreased by 2.9%, underperforming compared to the S&P 500 Index's gain of 15.9% and the State Street Communication Services Select Sector SPDR ETF's return of 18.6% [4] Recent Developments - Despite reporting weaker-than-expected Q3 2025 adjusted EPS of $0.82 and revenue of $914.3 million, Match Group shares rose by 5.2% the following day, driven by an 18% year-over-year growth in net income to $161 million and the successful execution of a $50 million reinvestment plan [5] - Positive developments from Tinder's new features and Hinge's AI enhancements, along with ongoing cost-saving initiatives, have contributed to increased investor confidence [5] Analyst Ratings - The consensus view among analysts on MTCH stock is cautiously optimistic, with a "Moderate Buy" rating. Out of 22 analysts, seven recommend a "Strong Buy," one a "Moderate Buy," and 14 a "Hold" rating. The average price target for Match Group is $38.37, indicating a potential upside of 18.2% from current levels [6]

Company Overview - Match Group, Inc. is based in Dallas, Texas, and has a market cap of $7.7 billion, operating a diverse portfolio of dating platforms including Tinder, Hinge, Match.com, OkCupid, Plenty of Fish, and Meetic [1] - The company is classified as a mid-cap stock, generating revenue primarily through subscription fees and in-app purchases, focusing on technology, data analytics, and product innovation to enhance user engagement [2] Stock Performance - Match Group's stock has decreased by 17.8% from its 52-week high of $39.20, reached on August 15, and has declined 13.9% over the past three months, underperforming the State Street Communication Services Select Sector SPDR ETF's (XLC) 1.6% drop [3] - Over the past 52 weeks, Match Group has marginally declined, lagging behind XLC's 15.1% increase, and on a year-to-date basis, shares are down 1.5% compared to XLC's 20.5% return [4] Financial Performance - On November 4, Match Group reported weaker-than-expected Q3 results, with total revenue increasing by 2.1% year-over-year to $914.3 million, but missing consensus estimates [5] - The adjusted EBITDA fell by 12% from the previous year to $301.4 million, with the adjusted EBITDA margin decreasing by 500 basis points [5] Competitive Position - Match Group has significantly outperformed its rival, Bumble Inc., which has seen a decline of 58.1% over the past 52 weeks and 56.6% year-to-date [6] - Despite recent underperformance, analysts maintain a moderately optimistic outlook for Match Group, with a consensus rating of "Moderate Buy" and a mean price target of $38.37, indicating a 19.1% premium to current price levels [6]

Core Viewpoint - The Delhi High Court has deferred the hearing on Apple's challenge to India's competition law provisions that allow penalties based on global turnover, rescheduling it for January 27, 2026 [1][2]. Legal Proceedings - The court adjourned the proceedings after Apple's senior advocate requested time to respond to a joint affidavit from the Centre and the Competition Commission of India (CCI) [2]. - The court has directed the Centre and the CCI to submit the affidavit within a week, allowing Apple to file a counter [3]. Competition Law Context - The case arises from Apple's challenge to amendments in Section 27(b) of the Competition Act and the Monetary Penalty Guidelines, which enable the CCI to impose fines up to 10% of a company's average global turnover over the last three financial years [3]. - The CCI's request for Apple to submit its financial details was not granted by the court, which also refrained from commenting on Apple's plea for protection from potential coercive actions [4]. Investigation Background - Apple is under investigation by the CCI regarding its App Store payment policies, following complaints from NGOs and Indian startups alleging abuse of dominant position [5][6]. - The CCI has found prima facie evidence of abuse, which Apple denies [6]. Potential Financial Impact - Apple has warned that the amended penalty framework could lead to fines of nearly $38 billion if found guilty, arguing that using global turnover for India-specific conduct is arbitrary and disproportionate [7]. - The CCI contends that Apple is attempting to delay the proceedings and has maintained that global turnover is considered only as a last resort [8]. Market Position - Despite the ongoing legal challenges, Apple continues to grow rapidly in India, driven by strong demand for the iPhone 17, with 14 consecutive quarters of growth expected to sell 15.5 million iPhones in 2025, a 25% increase year-on-year [9]. - Apple holds a 28% share of India's premium smartphone market by value and has become the world's largest smartphone brand in Q1 2025, with a 19% global market share [10].

Core Insights - Starboard Value LP's exit from Match Group highlights a significant shift within the company, primarily driven by a slowdown in Tinder's performance and the need to effectively convert user engagement into revenue [1][8] Company Overview - Match Group, Inc. is a leading provider of online dating products, operating a diverse range of brands that cater to millions of users globally [4][5] - The company utilizes a scalable digital platform to monetize user engagement through subscriptions and in-app purchases, maintaining a competitive edge in the online dating industry [4][5] Financial Performance - As of September 30, 2025, Match Group's market capitalization is $7.62 billion, with a revenue of $3.47 billion and a net income of $562.09 million for the trailing twelve months [3] - The stock price was $32.28 as of November 14, 2025, reflecting a 4.43% increase over the past year, although it underperformed the S&P 500 by 6.29 percentage points [3] Investment Dynamics - Starboard Value LP's reduction of its stake in Match Group from 10.20% to 7.36% of its disclosed assets indicates a strategic shift, as the fund typically makes changes only for clear reasons [2][6] - The current investment landscape for Match Group is characterized by a tension between declining user engagement and improving revenue per payer, complicating the outlook for investors [8][9] Market Position and Challenges - Match Group is navigating a transition where its user base is softening, particularly with Tinder losing momentum while Hinge is gaining traction [8] - The company's ability to stabilize its user base and maintain recent efficiency gains will be crucial for future cash flow stability [9]

Core Viewpoint - The Delhi High Court is examining the legality of imposing penalties on companies based on their global turnover rather than their revenue generated in India, following a challenge from Apple Inc regarding recent amendments to the Competition Act [1][5]. Group 1: Legal Proceedings - The Delhi High Court has issued notices to the Union government and the Competition Commission of India (CCI) to explain the rationale for the penalty framework [1]. - The court declined to order Apple to submit its financial details by December 8, as requested by the CCI, and did not comment on Apple's plea for protection from coercive actions [2]. - The next hearing is scheduled for December 16 [2]. Group 2: CCI Investigation - The CCI is investigating Apple's App Store payment policies following complaints from NGOs and Indian startups alleging abuse of dominant position [3]. - Apple has been asked to submit its financial statements in connection with this investigation [3]. - The CCI claims to have found prima facie evidence of abuse, which Apple denies [3]. Group 3: Potential Penalties - Apple warned that the amended law could expose it to fines of nearly $38 billion if found guilty, as penalties could reach up to 10% of average global turnover over the past three financial years [5]. - Apple argues that using global turnover for penalties related to conduct limited to India is arbitrary and disproportionate [5]. - Concerns have been raised about the retrospective impact of the penalties, as they may be based on turnover from years prior to the amendment [6]. Group 4: Regulatory Framework - The case could set a precedent for how India applies its new penalty framework to multinational tech firms, influencing future CCI actions [7]. - The CCI contends that fears of massive penalties based on global turnover are overstated, as penalties are calculated based on relevant product and geographical markets [9]. - Global turnover is used as a last resort when a company does not provide sufficient information for calculating relevant turnover [9]. Group 5: Market Context - Apple's business in India is significantly smaller compared to its operations in Europe, where it earned $101.33 billion in FY24 compared to about $8 billion in India [13]. - Despite this, Apple is experiencing rapid growth in India, driven by strong demand for the iPhone 17, with expectations to sell 15.5 million iPhones in 2025, a 25% increase from the previous year [14]. - Apple has captured a 28% share of India's premium smartphone market by value and became the world's largest smartphone brand in Q1 2025 with a 19% global market share [14].