Match Group, Inc.
For the period ended Mar 31, 2026. Filed May 6, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 6, 2026
MTCH$39.03-0.3%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-05.
0000891103-25-000180
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-06.
0000891103-26-000073
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 141 previous paragraphs and 376 current paragraphs.
33 unchanged; 75 reworded; 84 added; 33 removed; 0 previous and 184 current paragraphs rearranged.
Tables are not compared: 27 previous and 16 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (84)
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Operations
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Azar®.
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operations and certain shared software).
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of months in the period.
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Google. Additionally, fees paid to Apple and Google for transactions not processed through
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their in-app payment systems are included within in-app purchase fees.
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capitalized.
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amount was outstanding.
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and December 15. As of March 31, 2026,$424 million aggregate principal amount was
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outstanding.
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Group, Inc. to Adjusted EBITDA.
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and Match Group Asia.
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Azar Business Update
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On February 22, 2026, Apple removed the Azar app from the Apple App Store following a February
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6, 2026 update to Apple’s App Review Guidelines. Updates were subsequently made to the app to
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comply with the updated guidelines, which led to the reinstatement of a new version on April 6, 2026.
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This temporary removal resulted in lower Direct Revenue for the three months ended March 31, 2026.
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We also updated the business forecast associated with the Azar app, which resulted in an impairment
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of $25.2 million to the indefinite-lived asset associated with the Azar trade name.
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ended March 31, 2025
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Tinder Direct Revenue increased$7.3 million, or 2%. The increase in Direct Revenue was driven
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Direct Revenue declined $13.1 million, or 3%.
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Hinge Direct Revenue grew$42.3 million, or 28%. Revenue growth was driven by continued
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growth in certain European expansion markets. Payers increased 15% compared to 2025, and RPP
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increased 11% over 2025. RPP was positively impacted by the weakening of the U.S. dollar compared
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to the Euro.
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Payers of 16%, partially offset by increased RPP of 11%. RPP was positively impacted by the
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MG Asia Direct Revenue declined$4.1 million, or 6%. Payers were down 9%, partially impacted by
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the temporary Azar app removal discussed in the Azar business update above. Partially offsetting this
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decline is an increase of 2% in RPP.
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Indirect Revenue decreased due to lower direct advertisement revenue compared to 2025.
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Cost of revenue decreased across all segments primarily due to Payers shifting from app store
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payments to alternate payment methods, resulting in a decrease of $24.1 million within in-app purchase
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fees and an increase of $3.8 million in credit card processing fees.
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Tinder and Hinge, partially offset by reductions at E&E and MG Asia.
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General and administrative expense decreased primarily due to Canada rescinding its digital sales
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tax resulting in a $10.2 million reversal of expense during the quarter, and a reduction in headcount
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decreasing employee compensation and stock-based compensation by $8.6 million and $7.2 million,
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Product development expense decreased 3% primarily due to lower employee and stock-based
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compensation expense at Tinder, partially offset by increased employee and stock-based compensation
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Removed paragraphs (33)
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Updated Financial Metrics
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We have updated the title of our primary non-GAAP measure to “Adjusted EBITDA” from our previous title “Adjusted Operating Income.” We believe this updated title better aligns with our peers. Numerically, Adjusted EBITDA is the same as Adjusted Operating Income; however the starting point of the reconciliation to the most comparable GAAP financial measure has changed from operating income to net income. See “Non-GAAP Financial Measures” below for the full definition of Adjusted EBITDA and a reconciliation of net income attributable to Match Group, Inc. shareholders to Adjusted EBITDA.
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•Term Loan- The former term loan facility under the credit agreement of MG Holdings II. At December 31, 2024, the Term Loan bore interest at a term secured overnight financing rate plus an applicable adjustment (“Adjusted Term SOFR”), plus 1.75%, and the then applicable rate was 6.22%. On January 21, 2025, we repaid the $425 million Term Loan in full utilizing cash on hand.
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Hinge Direct Revenue grew $39.2 million, or 27%, in 2025 versus 2024. Revenue growth was driven by both growth in the U.S. and other English-speaking markets as well as continued expansion efforts in certain European markets. Payers increased 17% compared to 2024, and RPP increased 9% over 2024, which was positively impacted by the weakening of the U.S. dollar compared to the Euro.
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MG Asia Direct Revenue declined $3.0 million, or 4%, in 2025 versus 2024. Excluding revenue from Hakuna, which was shut down in the third quarter of 2024, MG Asia revenue remained flat compared to 2024. RPP decreased 10% from 2024, partially offset by a 6% increase in Payers compared to 2024. RPP was negatively impacted by the shut down of the Hakuna app in 2024 due to the high RPP associated with those Payers.
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Indirect Revenue increased due to higher ad impressions compared to 2024, driven by continued strength in the advertising business.
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Tinder Direct Revenue declined $65.5 million, or 4%, in 2025 versus 2024. The decrease in Direct Revenue was driven by a 7% decrease in Payers, partially offset by a 2% increase in RPP. Additionally, revenue was positively impacted by the weakening of the U.S. dollar compared to the Euro and British Pound, partially offset by the strength of the U.S. dollar compared to the Argentine Peso. On a consistent foreign exchange rate basis, the decline was $67.0 million or 5%.
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Hinge Direct Revenue grew $101.7 million, or 25%, in 2025 versus 2024. Revenue growth was driven by both growth in the U.S. and other English-speaking markets as well as continued expansion efforts in certain European markets. Payers increased 18% compared to 2024, and RPP increased 6% over 2024, as a result of pricing optimizations.
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E&E Direct Revenue declined 8% in 2025 versus 2024. The overall decline at E&E was driven by a decline in Payers of 15% compared to 2024, partially offset by increased RPP of 8%. The decline is also partially due to our decision to terminate certain live streaming services in the second half of 2024.
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MG Asia Direct Revenue declined $15.6 million, or 7%, in 2025 versus 2024. Excluding revenue from Hakuna, which was shut down in the third quarter of 2024, MG Asia revenue increased $0.7 million. Revenue was also negatively impacted by the strength of the U.S. dollar compared to the Turkish Lira, partially offset by weakness to the Japanese Yen.
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Indirect Revenue increased primarily driven by the factors described above in the three-month discussion.
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Cost of revenue decreased primarily due to a $4.0 million decrease in Variable Expenses predominantly at Tinder driven by lower web hosting fees, and at MG Asia, due to a decrease in partner fees as a result of the termination of the Hakuna app and certain of our live streaming services in the second half of 2024. These declines were partially offset by an increase in in-app purchase fees of $2.8 million primarily at Hinge as revenue continues to grow.
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Cost of revenue decreased 4% primarily due to a decrease in Variable Expenses of $25.9 million predominately at E&E and MG Asia as a result of the termination of certain of our live streaming services and the shut down of the Hakuna app in the second half of 2024.
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Selling and marketing expense remained flat as compared to 2024.
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General and administrative expense increased primarily due to a legal settlement at Tinder in the amount of $60.5 million, partially offset by (i) a decrease in non-cash compensation of $10.6 million primarily due to adjustments for certain performance award estimates at E&E and the departure of an executive at Tinder and (ii) a decrease in employee compensation of $5.2 million primarily within Tinder and E&E due to a decrease in headcount in 2025.
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Product development expense remained relatively flat as compared to the prior period due to an increase of $2.9 million in stock-based compensation expense mainly at Hinge, partially offset by decreases in employee compensation at Tinder and MG Asia due to decreased headcount.
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Product development expense increased primarily due to severance expense of $9.4 million in 2025 primarily at Tinder and E&E, and an increase in other operating expenses related to increases in software subscriptions primarily at Tinder and Hinge.
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Depreciation was lower in 2025 compared to 2024 primarily due to (i) a decrease in internally developed software at Tinder as certain assets became fully depreciated during the period and (ii) the write off of internally developed software associated with our live streaming services in 2024. These decreases were partially offset by increases in internally developed software at E&E.
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Impairments and amortization of intangibles decreased primarily due to the factors described above in the three-month discussion.
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•Tinder’s operating income was $183.7 million, down 22%, and Adjusted EBITDA was $203.8 million, down 23%, primarily due to costs associated with legal settlements and the decrease in revenue.
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•Hinge’s operating income was $46.3 million, an increase of 10%, and Adjusted EBITDA was $62.6 million, an increase of 22%, primarily due to continued Payer growth across all markets.
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•E&E’s operating income was $31.4 million and Adjusted EBITDA was $47.4 million, an increase of 14%, both improving primarily due to the termination of live streaming services in 2024. The increase in operating income is also due to the decrease in impairments and amortization of intangible assets as a result of the termination of live streaming services in 2024 and decreases in employee compensation, including stock-based compensation expense associated with adjustments for certain performance award estimates and reductions in headcount.
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•MG Asia’s operating income was $0.8 million, an improvement over the prior year operating loss of $18.9 million, and Adjusted EBITDA was $15.3 million. The improvement of operating income is related to impairments and amortization of intangible assets in the prior year as a result of the shut down of the Hakuna app in the second half of 2024.
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•Tinder’s operating income was $594.1 million, down 10%, and Adjusted EBITDA was $678.5 million, down 10%, primarily due to costs associated with legal settlements and the decrease in revenue.
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•Hinge’s operating income was $113.9 million, an increase of 25%, and Adjusted EBITDA was $159.0 million, an increase of 30%, primarily due to continued Payer growth across all markets.
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•E&E’s operating income was $33.7 million, down 16%, and Adjusted EBITDA was $92.1 million, down 25%, primarily due to continued decreases in revenue. Operating income was also favorably impacted by the decrease in impairments and amortization of intangible assets as a result of the termination of live streaming services in 2024 and decreases in employee compensation, including stock-based compensation expense associated with reductions in headcount and adjustments for certain performance award estimates.
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•MG Asia’s operating income was $4.0 million, an improvement over the prior year of $35.9 million, and Adjusted EBITDA was $50.2 million. The change in operating income is primarily due to the decrease in impairments and amortization of intangible assets as a result of impairments in the prior year related to the shut down of the Hakuna app in the second half of 2024.
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Interest expense decreased primarily driven by the factors described above in the three-month discussion.
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In 2025, the effective rate of 17% is lower than the statutory rate primarily due to changes in tax reserves.
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In 2024, the effective tax rate of 22% was higher than the statutory rate primarily due the effects of nondeductible stock-based compensation, state income taxes, and unfavorable tax adjustments upon the vesting of certain stock-based awards due to a higher stock price on the date such awards vested compared to the grant date fair value of such awards. These effects were partially offset by a lower tax rate on U.S. income derived from foreign sources, research credits, and a tax benefit realized upon the conclusion of certain state income tax audits.
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Net cash used in financing activities in 2024 is primarily due to purchases of treasury stock of $630.6 million and payments of $11.4 million of withholding taxes paid on behalf of employees for net-settled stock-based awards. These uses of cash were partially offset by $9.4 million of proceeds from the issuance of common stock pursuant to stock-based awards.
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On January 21, 2025, the Company repaid the Term Loan in full utilizing cash on hand.
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On September 8, 2025, we repurchased $76 million aggregate principal amount of 0.875% exchangeable senior notes due 2026.
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of
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•Evergreen & Emerging (“E&E”)consists of the world-wide activity of our Evergreen brands, which include Match®, Meetic®, OkCupid®, Plenty Of Fish®, and a number of demographically focused brands, and our Emerging brands, which include BLK®, Chispa™, The League®, Archer®, Upward®, Yuzu™, Salams®, HER™, and other smaller brands.
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•Evergreen & Emerging (“E&E”)consists of the world-wide activity of our Evergreen brands,
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•Match Group Asia (“MG Asia”) consists of the world-wide activity of the brands primarily focused on Asia and the Middle East, including Pairs™ and Azar®, which has expanded into Europe and the U.S.
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•Match Group Asia (“MG Asia”) consists of the world-wide activity of the brands Pairs™ and
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•Corporate and unallocated costs includes 1) corporate expenses (such as executive management, investor relations, corporate development, board of directors and public company listing fees), 2) portions of corporate services (such as legal, human resources, accounting, and tax), and 3) certain centrally managed services and technology that have not been allocated to the individual business segments (such as central trust and safety operations and certain shared software).
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•Corporate and unallocated costs includes 1) corporate expenses (such as executive
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•Direct Revenue is revenue that is received directly from end users of our services and includes both subscription and à la carte revenue.
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•Direct Revenue is revenue that is received directly from end users of our services and
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•Indirect Revenue is revenue that is not received directly from an end user of our services, a majority of which is advertising revenue.
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•Indirect Revenue is revenue that is not received directly from an end user of our services,
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•Payers are unique users at a brand level in a given month from whom we earned Direct Revenue. When presented as a quarter-to-date or year-to-date value, Payers represents the average of the monthly values for the respective period presented. At a consolidated level and a business unit level to the extent a business unit consists of multiple brands, duplicate Payers may exist when we earn revenue from the same individual at multiple brands in a given month, as we are unable to identify unique individuals across brands in the Match Group portfolio.
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•Payers are unique users at a brand level in a given month from whom we earned Direct
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•Revenue Per Payer (“RPP”) is the average monthly revenue earned from a Payer and is Direct Revenue for a period divided by the Payers in the period, further divided by the number of months in the period.
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Direct Revenue for a period divided by the Payers in the period, further divided by the number
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•Cost of revenue consists primarily of the amortization of in-app purchase fees, Variable Expenses (defined below), and employee compensation expense and stock-based compensation expense for personnel engaged in data center and customer care functions.
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•Cost of revenue consists primarily of the amortization of in-app purchase fees, Variable
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•Selling and marketing expense consists primarily of cost of acquisition expense and employee compensation expense and stock-based compensation expense for personnel engaged in selling and marketing, sales support, and public relations functions.
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•Selling and marketing expense consists primarily of cost of acquisition expense and
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•General and administrative expense consists primarily of employee compensation expense and stock-based compensation expense for personnel engaged in executive management, finance, accounting, legal, tax, and human resources, fees for professional services (including transaction-related costs for acquisitions), and facilities costs.
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•General and administrative expense consists primarily of employee compensation expense
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•Product development expense consists primarily of employee compensation expense and stock-based compensation expense that are not capitalized for personnel engaged in the design, development, testing, and enhancement of service offerings and related technology.
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•Product development expense consists primarily of employee compensation expense and
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•In-app purchase fees consists of the amortization of in-app purchase fees, which are monies paid to Apple and Google in connection with the processing of in-app purchases of subscriptions and service features through the in-app payment systems provided by Apple and Google.
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•In-app purchase fees consists of the amortization of in-app purchase fees, which are monies
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•Variable Expenses consists primarily of hosting fees, credit card processing fees, and rent, energy, and bandwidth costs associated with data centers.
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•Variable Expenses consists primarily of hosting fees, credit card processing fees, and rent,
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•Cost of acquisition consists primarily of advertising expenditures, including online marketing (fees paid to search engines and social media sites), offline marketing, including television and print advertising, and production of advertising content.
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(fees paid to search engines and social media sites), offline marketing, including television and
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•Employee compensation expense consists primarily of compensation expense (excluding stock-based compensation expense) and other employee-related costs that are not capitalized.
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stock-based compensation expense) and other employee-related costs that are not
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•Credit Facility - The revolving credit facility under the credit agreement of MG Holdings II. As of September 30, 2025 and December 31, 2024, there was $0.6 million outstanding in letters of credit and $499.4 million of availability under the Credit Facility.
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•Credit Facility - The revolving credit facility under the credit agreement of MG Holdings II. As
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•5.00% Senior Notes - MG Holdings II’s 5.00% Senior Notes due December 15, 2027, with interest payable each June 15 and December 15, which were issued on December 4, 2017. As of September 30, 2025, $450 million aggregate principal amount was outstanding.
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•5.00% Senior Notes - MG Holdings II’s 5.00% Senior Notes due December 15, 2027, with
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•4.625% Senior Notes - MG Holdings II’s 4.625% Senior Notes due June 1, 2028, with interest payable each June 1 and December 1, which were issued on May 19, 2020. As of September 30, 2025, $500 million aggregate principal amount was outstanding.
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•4.625% Senior Notes - MG Holdings II’s 4.625% Senior Notes due June 1, 2028, with interest
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•5.625% Senior Notes - MG Holdings II’s 5.625% Senior Notes due February 15, 2029, with interest payable each February 15 and August 15, which were issued on February 15, 2019. As of September 30, 2025, $350 million aggregate principal amount was outstanding.
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•5.625% Senior Notes - MG Holdings II’s 5.625% Senior Notes due February 15, 2029, with
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•4.125% Senior Notes - MG Holdings II’s 4.125% Senior Notes due August 1, 2030, with interest payable each February 1 and August 1, which were issued on February 11, 2020. As of September 30, 2025, $500 million aggregate principal amount was outstanding.
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•4.125% Senior Notes - MG Holdings II’s 4.125% Senior Notes due August 1, 2030, with
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•3.625% Senior Notes - MG Holdings II’s 3.625% Senior Notes due October 1, 2031, with interest payable each April 1 and October 1, which were issued on October 4, 2021. As of September 30, 2025, $500 million aggregate principal amount was outstanding.
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•3.625% Senior Notes - MG Holdings II’s 3.625% Senior Notes due October 1, 2031, with
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•6.125% Senior Notes - MG Holdings II’s 6.125% Senior Notes due September 15, 2033, with interest payable each March 15 and September 15, commencing on March 15, 2026, which were issued on August 20, 2025. As of September 30, 2025, $700 million aggregate principal amount was outstanding.
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•6.125% Senior Notes - MG Holdings II’s 6.125% Senior Notes due September 15, 2033, with
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On August 20, 2025, we completed a private offering of $700 million aggregate principal amount of 6.125% Senior Notes due 2033. The proceeds from the issuance of these notes will be used to repay all of the outstanding 0.875% exchangeable senior notes due 2026 at or prior to their maturity and the remaining proceeds will be used for general corporate purposes.
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The proceeds from the issuance of these notes will be used to repay all of the outstanding
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•2026 Exchangeable Notes - The 0.875% Exchangeable Senior Notes due June 15, 2026 issued by Match Group FinanceCo 2, Inc., a subsidiary of the Company, which are exchangeable into shares of the Company's common stock. Interest is payable each June 15 and December 15. On September 8, 2025, we repurchased $76.4 million of 2026 Exchangeable Notes. As of September 30, 2025, $499 million aggregate principal amount was outstanding and is presented as a current liability.
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•2026 Exchangeable Notes - The 0.875% Exchangeable Senior Notes due June 15, 2026
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•2030 Exchangeable Notes - The 2.00% Exchangeable Senior Notes due January 15, 2030 issued by Match Group FinanceCo 3, Inc., a subsidiary of the Company, which are exchangeable into shares of the Company's common stock. Interest is payable each January 15 and July 15. As of September 30, 2025, $575 million aggregate principal amount was outstanding.
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•2030 Exchangeable Notes - The 2.00% Exchangeable Senior Notes due January 15, 2030
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•Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”)- is a Non-GAAP financial measure. See “Non-GAAP Financial Measures” below for the definition of Adjusted EBITDA and a reconciliation of net income attributable to Match Group, Inc. to Adjusted EBITDA.
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•Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted
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Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Hinge®, Match®, Meetic®, OkCupid®, Pairs™, Plenty Of Fish®, Azar®, BLK®, and more, each built to increase our users’ likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world.
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Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies
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We manage our portfolio of brands in four business units: Tinder, Hinge, Evergreen and Emerging, and Match Group Asia.
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We manage our portfolio of brands in four business units: Tinder, Hinge, Evergreen and Emerging,
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As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match Group, Inc. and its subsidiaries, unless the context indicates otherwise.
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As used herein, “Match Group,” the “Company,” “we,” “our,” “us,” and similar terms refer to Match
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For a more detailed description of the Company’s operating businesses, see “Item 1. Business” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
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For a more detailed description of the Company’s operating businesses, see “Item 1. Business” of
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Investors and others should note that we announce material financial and operational information to our investors using our investor relations website athttps://ir.mtch.com, our newsroom website athttps://mtch.com/news, Tinder’s newsroom website atwww.tinderpressroom.com, Hinge’s newsroom website athttps://hinge.co/press, Securities and Exchange Commission (“SEC”) filings, press releases, and public conference calls. We use these channels as well as social media to communicate with our users and the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Accordingly, investors, the media, and others interested in our company should monitor the websites listed above and the social media channels listed on our investor relations website in addition to following our SEC filings, press releases, and public conference calls. Neither the information on our website, nor the information on the website of any Match Group business, is incorporated by reference into this report, or into any other filings with, or into any other information furnished or submitted to, the SEC.
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Investors and others should note that we announce material financial and operational information
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Results of Operations for the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024
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Results of Operations for thethree months ended March 31, 2026 compared to thethree months
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Tinder Direct Revenue declined $12.6 million, or 3%, in 2025 versus 2024. The decrease in Direct Revenue was driven by a 7% decrease in Payers, partially offset by a 5% increase in RPP, which was positively impacted by the weakening of the U.S. dollar compared to the Euro and British Pound. On a consistent foreign exchange rate basis, the decline in revenue was $20.8 million, or 4%, in 2025 compared to 2024.
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by a 7% increase in RPP, which was positively impacted by the weakening of the U.S. dollar compared
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E&E Direct Revenue declined 4% in 2025 versus 2024. The overall decline at E&E was driven by a decline in Payers of 13% compared to 2024, partially offset by increased RPP of 10%. The Direct Revenue decline was driven by the Evergreen brands.
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E&E Direct Revenue declined$10.0 million, or 7%. The decline at E&E was driven by a decline in
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Selling and marketing expense increased 8% primarily due to higher cost of acquisition expense of $13.9 million predominately at Hinge, Tinder, and MG Asia, partially offset by decreases at E&E.
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Selling and marketing expense increased 4% primarily due to higher cost of acquisition expense at
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General and administrative expense increased primarily due to (i) a legal settlement at Tinder in the amount of $60.5 million, (ii) a settlement with the FTC in the amount of $14.0 million related to certain E&E applications, and (iii) severance expense of $11.7 million primarily within Corporate and Unallocated Costs and E&E. Partially offsetting these increases was a decrease in non-cash compensation of $7.1 million primarily within E&E related to adjustments for certain performance award estimates and reductions in headcount.
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respectively, primarily within Corporate and Unallocated Costs and E&E.
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Depreciation was lower in 2025 compared to 2024 primarily due to (i) a decrease in depreciation of internally developed software at Tinder as certain assets became fully depreciated during the period and (ii) the write off of internally developed software associated with our live streaming services in 2024.
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Depreciation was lower in 2026 compared to 2025 primarily due to a decrease in depreciation of
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Impairments and amortization of intangibles decreased primarily due to impairments of intangible assets at E&E and MG Asia in the prior year as a result of the termination of our live streaming services and Hakuna brand in 2024.
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Impairments and amortization of intangibles increased primarily due to impairments of intangible
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For a reconciliation of operating income to Adjusted EBITDA for each reportable segment, see “Non-GAAP Financial Measures.”
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For a reconciliation of operating income to Adjusted EBITDA for each reportable segment, see
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including Match®, Meetic®, OkCupid®, Plenty Of Fish®, and a number of demographically
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focused brands, and our Emerging brands, including BLK®, Chispa™, The League®, Upward®,
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Yuzu™, Salams®, HER™, and other smaller brands.
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management, investor relations, corporate development, board of directors, and public
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company listing fees), 2) portions of corporate services (such as legal, human resources,
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accounting, and tax), and 3) certain centrally managed services and technology that have not
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been allocated to the individual business segments (such as central trust and safety
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includes both subscription and à la carte revenue.
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substantially all of which is advertising revenue.
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Revenue. When presented as a quarter-to-date or year-to-date value, Payers represents the
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average of the monthly values for the respective period presented. At a consolidated level and
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a business unit level to the extent a business unit consists of multiple brands, duplicate Payers
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may exist when we earn revenue from the same individual at multiple brands in a given month,
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as we are unable to identify unique individuals across brands in the Match Group portfolio.
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•Revenue Per Payer (“RPP”) is the average monthly revenue earned from a Payer and is
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Expenses (defined below), and employee compensation expense and stock-based
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compensation expense for personnel engaged in data center and customer care functions.
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employee compensation expense and stock-based compensation expense for personnel
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engaged in selling and marketing, sales support, and public relations functions.
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and stock-based compensation expense for personnel engaged in executive management,
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finance, legal, tax, and human resources, fees for professional services (including transaction-
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related costs for acquisitions), and facilities costs.
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stock-based compensation expense that are not capitalized for personnel engaged in the
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design, development, testing, and enhancement of our services and related technology.
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paid to Apple and Google in connection with the processing of in-app purchases of
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subscriptions and service features through the in-app payment systems provided by Apple and
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energy, and bandwidth costs associated with data centers.
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•Cost of acquisition consists primarily of advertising expenditures, including online marketing
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print advertising, and production of advertising content.
Current report — wording carried from elsewhere
•Employee compensation expense consists primarily of compensation expense (excluding
Current report — wording carried from elsewhere
•Stock-based compensation expense consists principally of expense associated with awards
Current report — wording carried from elsewhere
of restricted stock units (“RSUs”), performance-based RSUs, and market-based awards that is
Current report — wording carried from elsewhere
not capitalized. These expenses are not paid in cash.
Current report — wording carried from elsewhere
of March 31, 2026 and December 31, 2025, there was$0.6 million outstanding in letters of
Current report — wording carried from elsewhere
credit and$499.4 million of availability under the Credit Facility.
Current report — wording carried from elsewhere
interest payable each June 15 and December 15, which were issued on December 4, 2017. As
Current report — wording carried from elsewhere
of March 31, 2026,$450 million aggregate principal amount was outstanding.
Current report — wording carried from elsewhere
payable each June 1 and December 1, which were issued on May 19, 2020. As of March 31,
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2026,$500 million aggregate principal amount was outstanding.
Current report — wording carried from elsewhere
interest payable each February 15 and August 15, which were issued on February 15, 2019.
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