Match Group, Inc.
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
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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.
Jun 30, 2026 · Filed Aug 5, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious 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 OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-05.
0000891103-26-000130
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 376 previous paragraphs and 413 current paragraphs.
261 unchanged; 66 reworded; 76 added; 42 removed; 7 previous and 10 current paragraphs rearranged.
Tables are not compared: 16 previous and 27 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 (76)
Current report
During the quarter ended June 30, 2026, we reorganized our brands into three operating
Current report
segments. Specifically, the Evergreen and Emerging and MG Asia operating segments were combined
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into a new segment called “Everyone Everywhere.” This change has been reflected in all historical
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periods presented. The Tinder and Hinge operating segments remain unchanged.
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Meetic®, OkCupid®, Plenty Of Fish®, Pairs™, Azar®, BLK®, Chispa™, The League®, Upward®,
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was outstanding.
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maturity on June 15, 2026.
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Everywhere.
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The app updates necessitated by the new guidelines and the temporary removal from the app store
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with the Azar trade name.
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and six months ended June 30, 2025
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Tinder Direct Revenue declined 1%, driven by a 5% decrease in Payers, partially offset by an
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increase in RPP of 4%.
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Hinge Direct Revenue grew 22%, driven by 17% Payer growth, reflecting Hinge’s continued
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European expansion, and 4% RPP growth.
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E&E Direct Revenue declined 17%, including a $19 million decrease in revenue at Azar impacted
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occurred at several other brands within E&E.
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Tinder Direct Revenue increased$3.6 million, essentially flat compared to 2025. Direct Revenue
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exchange rate basis, Direct Revenue declined$22.9 million, or 3%.
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growth in the US and other English speaking markets and in European expansion markets. Payers
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increased 16%, and RPP increased 7%. RPP was positively impacted by the weakening of the U.S.
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dollar compared to the Euro.
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revenue at Azar, reflecting the temporary app removal, as well as Payer declines at several other E&E
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brands, partially offset by higher RPP. RPP was positively impacted by the weakening of the U.S. dollar
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compared to the Euro.
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three-month discussion.
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Selling and marketing expense increased 5% primarily due to the factors described above in the
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three-month discussion.
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compensation of $12.0 million primarily within E&E and Corporate and Unallocated Costs due to a
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reduction in severance expense and reduced headcount. Additionally, legal expense decreased $15.1
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million primarily within E&E, partially offset by an increase at Tinder.
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reduced headcount and a reduction in severance expense compared to 2025. Stock-based
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compensation decreased $10.0 million primarily within Hinge and Tinder mostly due to headcount
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reductions. Additionally, legal expense decreased $16.6 million primarily within E&E, partially offset by
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an increase at Tinder.
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expense at Hinge and increased expense at Tinder and Hinge related to utilization of AI.
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Product development expense decreased 2% primarily due to the lower compensation expense
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noted in the three-month discussion above, partially offset by the incremental expense associated with
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AI utilization.
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partially offset by increases within Hinge and E&E.
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Removed paragraphs (42)
Previous report
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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•Match Group Asia (“MG Asia”) consists of the world-wide activity of the brands Pairs™ and
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Azar®.
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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 and is presented as a current liability.
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and Match Group Asia.
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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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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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decline is an increase of 2% in RPP.
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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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expense at Hinge.
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•Tinder’s operating income was$215.9 million, up 12%, and Adjusted EBITDA was$237.1
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million, up 4%, primarily due to the reduction in both in-app purchase fees and employee
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compensation expense, partially offset by an increase in cost of acquisition. Operating income
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•Hinge’s operating income was$56.1 million, an increase of 96%, and Adjusted EBITDA was
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increased cost of acquisition.
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compensation expense, cost of acquisition, and in-app purchase fees. These reductions were
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•MG Asia’s operating loss was$17.6 million, changing from operating income of$3.4 million in
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the prior year quarter, and Adjusted EBITDA was$21.1 million, up 11%. The operating loss is
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period of approximately 2.3 years.
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Other income, net
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of stock-based compensation expense,$33.8 million of impairment and amortization of intangibles,
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treasury stock of$60.1 million, and dividends paid of$44.2 million.
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payments, and a decrease in deferred revenue of $8.6 million primarily related to the decrease in
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million.
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Facility. On April 23, 2026, we used $100 million of cash on hand to make a minority interest investment
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in Sniffies. We plan to use $424 million of cash on hand to repay the outstanding 2026 Exchangeable
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Notes at or prior to their maturity in June 2026.
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primarily due to an increase in computer hardware and leasehold improvements.
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above.
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and April 30, 2026, we repurchased 0.7 million shares for $22.2 million on a trade date basis under the
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Reworded paragraphs (66)
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•Evergreen & Emerging (“E&E”)consists of the world-wide activity of our Evergreen brands,
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•Everyone Everywhere (“E&E”)consists of the world-wide activity of the brands Match®,
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Yuzu™, Salams®, HER™, and other smaller brands.
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Salams®, HER™, and other smaller brands.
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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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The proceeds from the issuance of these notes were used to repay all of the outstanding 2026
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2026 Exchangeable Notes at or prior to their maturity, and the remaining proceeds will be used
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Exchangeable Notes at their maturity or earlier, and the remaining proceeds were used for
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for general corporate purposes. As of March 31, 2026,$700 million aggregate principal
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general corporate purposes. As of June 30, 2026,$700 million aggregate principal amount
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•2026 Exchangeable Notes - The 0.875% Exchangeable Senior Notes due June 15, 2026
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•2026 Exchangeable Notes - The 0.875% Exchangeable Senior Notes which were repaid at
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We manage our portfolio of brands in four business units: Tinder, Hinge, Evergreen and Emerging,
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We manage our portfolio of brands in three business units: Tinder, Hinge, and Everyone
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This temporary removal resulted in lower Direct Revenue for the three months ended March 31, 2026.
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resulted in lower Direct Revenue for the three and six months ended June 30, 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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During the quarter ended March 31, 2026, we also updated the business forecast associated with
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of $25.2 million to the indefinite-lived asset associated with the Azar trade name.
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the Azar app, which resulted in an impairment of $25.2 million to the indefinite-lived asset associated
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Results of Operations for thethree months ended March 31, 2026 compared to thethree months
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Results of Operations for thethree and six months ended June 30, 2026 compared to thethree
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the temporary Azar app removal discussed in the Azar business update above. Partially offsetting this
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by the temporary Azar app removal discussed in the Azar business update above. Additional decreases
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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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benefited from a 6% increase in RPP, which was positively impacted by the weakening of the U.S.
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to the Euro, partially offset by a 5% decrease in Payers. On a consistent foreign exchange rate basis,
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dollar compared to the Euro, mostly offset by a 5% decrease in Payers. On a consistent foreign
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Hinge Direct Revenue grew$42.3 million, or 28%. Revenue growth was driven by continued
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Hinge Direct Revenue grew$78.3 million, or 24%. Revenue growth was driven by continued
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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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E&E Direct Revenue declined$52.0 million, or 12%. The decline at E&E was driven by lower
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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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payments to alternate payment methods, resulting in $38.0 million lower in-app purchase fees and an
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fees and an increase of $3.8 million in credit card processing fees.
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increase of $4.6 million in credit card processing fees.
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Selling and marketing expense increased 4% primarily due to higher cost of acquisition expense at
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Selling and marketing expense increased 7% primarily due to higher cost of acquisition expense at
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Tinder and Hinge, partially offset by reductions at E&E and MG Asia.
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Tinder and Hinge, partially offset by reductions at E&E.
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General and administrative expense decreased primarily due to Canada rescinding its digital sales
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General and administrative expense decreased primarily due to a decrease in employee
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respectively, primarily within Corporate and Unallocated Costs and E&E.
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compensation of $20.6 million primarily within Corporate and Unallocated Costs and E&E due to
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Product development expense decreased 3% primarily due to lower employee and stock-based
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Product development expense was flat with lower employee and stock-based compensation
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compensation expense at Tinder, partially offset by increased employee and stock-based compensation
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expense at Tinder and E&E; mostly offset by increased employee and stock-based compensation
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assets at MG Asia of $25.2 million as discussed in the Azar business update above.
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assets at E&E of $25.2 million as discussed in the Azar business update above.
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further benefited from a reduction in depreciation and stock-based compensation expense.
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a reduction in depreciation and stock-based compensation expense.
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$70.5 million, an increase of 66%, primarily due to continued Payer growth, partially offset by
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$79.4 million, an increase of 48%, primarily due to continued Payer growth, partially offset by
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•E&E’s operating income was$21.5 million, an increase of$14.8 million, and Adjusted EBITDA
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•E&E’s operating income was$21.0 million, an increase of$25.7 million, and Adjusted EBITDA
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was$39.4 million, an increase of 37%, both improving primarily due to a reduction in employee
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was$54.1 million, an increase of 69%, both improving primarily due to reductions in legal
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partially offset by the decrease in revenue.
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These reductions were partially offset by the decrease in revenue.
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At March 31, 2026, there was$446.4 million of unrecognized compensation cost, net of estimated
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At June 30, 2026, there was$381.5 million of unrecognized compensation cost, net of estimated
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awards, U.S. income derived from foreign sources, and research credits. These effects were partially
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statutory rate primarily due to the lower tax rate on U.S. income derived from foreign sources and
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In 2026 and 2025, the effective rates of 17% and 16%, respectively, were lower than the statutory
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In 2026 and 2025, the effective rates of 19% and 18%, respectively, were lower than the statutory
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rate primarily due to the excess tax benefits generated by the exercise and vesting of stock-based
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generated by the exercise and vesting of stock-based awards, and research credits. These effects were
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offset by nondeductible stock-based compensation and state income taxes.
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partially offset by nondeductible stock-based compensation, state income taxes, and foreign income
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Revenue by segment for thethree months ended March 31, 2026, compared to thethree months ended
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Revenue by segment for thethree and six months ended June 30, 2026, compared to thethree and six
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Net cash provided by operating activities in 2026 includes adjustments to income of$58.6 million
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Net cash provided by operating activities in 2026 includes adjustments to income of$120.6 million
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$14.1 million of depreciation, and$11.6 million of deferred income taxes. The decrease in cash from
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$29.5 million of depreciation, and$26.7 million of deferred income taxes. The increase in cash from
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changes in working capital was primarily due to a decrease from accounts payable and other liabilities
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changes in working capital was primarily due to an increase from accounts receivable of$22.5 million,
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$9.0 million, and an increase from net income taxes of$6.5 million due to timing of payments.
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an increase from net income taxes of$20.1 million due to timing of payments, and an increase from
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Rearranged current paragraphs (10)
Current report — wording carried from elsewhere
Indirect Revenue decreased due to lower direct advertisement revenue compared to 2025.
Current report — wording carried from elsewhere
Cost of revenue decreased across all segments primarily due to the factors described above in the
Current report — wording carried from elsewhere
General and administrative expense decreased primarily due to a decrease in employee
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Depreciation was lower in 2026 compared to 2025 primarily due to a decrease in depreciation of
Current report — wording carried from elsewhere
internally developed software at Tinder as certain assets became fully depreciated in the prior year.
Current report — wording carried from elsewhere
Operating income further benefited from a reduction in depreciation and stock-based
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Interest expense increased primarily due to the issuance of the 6.125% Senior Notes in August
Current report — wording carried from elsewhere
In 2026 and 2025, the effective rates of 21% and 20%, respectively, were at or lower than the
Current report — wording carried from elsewhere
million primarily related to internal development of software and $26.0 million of other investing cash
Current report — wording carried from elsewhere
$95.0 million, and payments of $89.9 million of withholding taxes paid on behalf of employees for net-
Rearranged previous paragraphs (7)
Previous report — wording carried elsewhere
issued by Match Group FinanceCo 2, Inc., a subsidiary of the Company, which are
Previous report — wording carried elsewhere
exchangeable into shares of the Company's common stock. Interest is payable each January
Previous report — wording carried elsewhere
weakening of the U.S. dollar compared to the Euro.
Previous report — wording carried elsewhere
primarily due to impairments of intangible assets as discussed in the Azar business update
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related to internal development of software.
Previous report — wording carried elsewhere
payable and receivable of $11.5 million due to timing of payments and receipts.
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$71.0 million for 2027, and $70.3 million for 2028.