Match Group, Inc.
For the period ended Sep 30, 2026. Filed Nov 3, 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.
Sep 30, 2026 · Filed Nov 3, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious 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 OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-03.
0000891103-26-000163
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 413 previous paragraphs and 418 current paragraphs.
266 unchanged; 73 reworded; 70 added; 67 removed; 7 previous and 9 current paragraphs rearranged.
Tables are not compared: 27 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 (70)
Current report
BLK®, OurTime®, Upward®, HER™, The League®, Pairs™, Azar®, and other brands.
Current report
Match Group, Inc., is leading the next chapter of human connection. Our global portfolio of brands
Current report
— including Tinder, Hinge, Match, Pairs, Upward, OurTime, The League, HER, Azar, and more — spark
Current report
meaningful real-world connections across cultures, communities, and every stage of life.
Current report
This change, together with Azar’s absence from the App Store from February 22 to April 6, 2026,
Current report
with the Azar trade name, which was reclassified to a definite-lived intangible asset as of March 31,
Current report
three and nine months ended September 30, 2025
Current report
increase in RPP of 2%.
Current report
European expansion, partially offset by a decrease in RPP of 3% to$31.81 as a result of the expansion
Current report
of discount optimizations and testing of a new lower priced subscription tier.
Current report
most brands within E&E as a result of Payer declines.
Current report
Tinder Direct Revenue was essentially flat compared to the same period in 2025, decreasing by
Current report
the weakening of the U.S. dollar compared to the Euro and the Australian Dollar, offset by a 5%
Current report
million, or 2%.
Current report
dollar compared to the Australian Dollar and Euro.
Current report
positively impacted by the weakening of the U.S. dollar compared to the Euro.
Current report
General and administrative expense decreased$55.8 million primarily due to a legal settlement of
Current report
$60.5 million incurred in the prior year at Tinder. Otherwise, general and administrative expense was
Current report
slightly up compared to the prior year.
Current report
General and administrative expense decreased as a result of the Tinder legal settlement in 2025
Current report
described above in the three-month discussion, and an additional legal settlement at E&E of $14.0
Current report
million incurred in the prior year period. The decrease is also related to a $21.0 million reduction in
Current report
decreased $8.6 million primarily within Hinge due to the departure of an executive in prior year.
Current report
related to utilization of tokens associated with AI, and increased employee compensation primarily at
Current report
Hinge due to increased headcount.
Current report
Product development expense increased 3% primarily due to increased expense at Tinder and
Current report
increase is partially offset by lower stock-based compensation expense primarily at E&E and Tinder
Current report
related to reduced headcount, and increases in capitalized salary costs.
Current report
Depreciation in 2026 was essentially flat compared to 2025.
Current report
amortized.
Current report
•Tinder’s operating income was$222.9 million, an increase of 21%, and Adjusted EBITDA was
Current report
$244.4 million, an increase of 20%, primarily due to the decrease in legal settlements and
Current report
decreases in in-app purchase fees; partially offset by increases in selling and marketing
Current report
•Hinge’s operating income was$70.2 million, an increase of 52%, and Adjusted EBITDA was
Current report
$87.9 million, an increase of 40%, primarily due to continued revenue from Payer growth and
Current report
decreases in in-app purchase fees, partially offset by increased cost of acquisition and
Current report
was$45.1 million, a decrease of 28%, primarily due to the decrease in revenue at Azar as well
Current report
as declines at nearly all other E&E brands. This reduction was partially offset by a decrease in
Current report
in-app purchase fees and cost of acquisition. Operating income also benefited from a reduction
Current report
in amortization expense.
Showing the first 40 of 70 passages. Open the source sections for the rest.
Removed paragraphs (67)
Previous report
Meetic®, OkCupid®, Plenty Of Fish®, Pairs™, Azar®, BLK®, Chispa™, The League®, Upward®,
Previous report
Salams®, HER™, and other smaller brands.
Previous report
The proceeds from the issuance of these notes were used to repay all of the outstanding 2026
Previous report
Exchangeable Notes at their maturity or earlier, and the remaining proceeds were used for
Previous report
was outstanding.
Previous report
Match Group, Inc., through its portfolio companies, is a leading provider of digital technologies
Previous report
designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®,
Previous report
Hinge®, Match®, Meetic®, OkCupid®, Pairs™, Plenty Of Fish®, Azar®, BLK®, and more, each built to
Previous report
increase our users’ likelihood of connecting with others. Through our trusted brands, we provide tailored
Previous report
services to meet the varying preferences of our users.
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with the Azar trade name.
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and six months ended June 30, 2025
Previous report
increase in RPP of 4%.
Previous report
European expansion, and 4% RPP growth.
Previous report
occurred at several other brands within E&E.
Previous report
Tinder Direct Revenue increased$3.6 million, essentially flat compared to 2025. Direct Revenue
Previous report
dollar compared to the Euro.
Previous report
revenue at Azar, reflecting the temporary app removal, as well as Payer declines at several other E&E
Previous report
compared to the Euro.
Previous report
Selling and marketing expense increased 5% primarily due to the factors described above in the
Previous report
General and administrative expense decreased primarily due to a decrease in employee
Previous report
reduction in severance expense and reduced headcount. Additionally, legal expense decreased $15.1
Previous report
million primarily within E&E, partially offset by an increase at Tinder.
Previous report
General and administrative expense decreased primarily due to a decrease in employee
Previous report
compensation of $20.6 million primarily within Corporate and Unallocated Costs and E&E due to
Previous report
compensation decreased $10.0 million primarily within Hinge and Tinder mostly due to headcount
Previous report
reductions. Additionally, legal expense decreased $16.6 million primarily within E&E, partially offset by
Previous report
an increase at Tinder.
Previous report
Product development expense was flat with lower employee and stock-based compensation
Previous report
expense at Tinder and E&E; mostly offset by increased employee and stock-based compensation
Previous report
Product development expense decreased 2% primarily due to the lower compensation expense
Previous report
noted in the three-month discussion above, partially offset by the incremental expense associated with
Previous report
AI utilization.
Previous report
partially offset by increases within Hinge and E&E.
Previous report
amortized in 2025.
Previous report
•Tinder’s operating income was$210.9 million, down 3%, and Adjusted EBITDA was$233.0
Previous report
•Hinge’s operating income was$63.1 million, an increase of 62%, and Adjusted EBITDA was
Previous report
$79.4 million, an increase of 48%, primarily due to continued Payer growth, partially offset by
Previous report
was$54.1 million, an increase of 69%, both improving primarily due to reductions in legal
Previous report
expenses, in-app purchase fees, cost of acquisition, and employee compensation expense.
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Reworded paragraphs (73)
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stock-based compensation expense that are not capitalized for personnel engaged in the
Current wording
stock-based compensation expense that are not otherwise capitalized for personnel engaged
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design, development, testing, and enhancement of our services and related technology.
Current wording
in the design, development, testing, and enhancement of our services and related technology.
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stock-based compensation expense) and other employee-related costs that are not
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stock-based compensation expense) and other employee-related costs that are not otherwise
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not capitalized. These expenses are not paid in cash.
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not otherwise capitalized and not paid in cash.
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of June 30, 2026 and December 31, 2025, there was$0.6 million outstanding in letters of
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of September 30, 2026 and December 31, 2025, there was$0.6 million outstanding in letters
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credit and$499.4 million of availability under the Credit Facility.
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of credit and$499.4 million of availability under the Credit Facility.
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general corporate purposes. As of June 30, 2026,$700 million aggregate principal amount
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As of September 30, 2026,$700 million aggregate principal amount was outstanding.
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The app updates necessitated by the new guidelines and the temporary removal from the app store
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The app updates necessitated by the new guidelines resulted in lower monetization from the new app.
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resulted in lower Direct Revenue for the three and six months ended June 30, 2026.
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resulted in lower Direct Revenue for the three and nine months ended September 30, 2026.
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Results of Operations for thethree and six months ended June 30, 2026 compared to thethree
Current wording
Results of Operations for thethree and nine months ended September 30, 2026 compared to the
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Tinder Direct Revenue declined 1%, driven by a 5% decrease in Payers, partially offset by an
Current wording
Tinder Direct Revenue declined 2%, driven by a 4% decrease in Payers, partially offset by an
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Hinge Direct Revenue grew 22%, driven by 17% Payer growth, reflecting Hinge’s continued
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Hinge Direct Revenue grew 19%, driven by 23% Payer growth, reflecting Hinge’s continued
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E&E Direct Revenue declined 17%, including a $19 million decrease in revenue at Azar impacted
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E&E Direct Revenue declined 20%, including a $20 million decrease in revenue at Azar resulting
Previous wording
by the temporary Azar app removal discussed in the Azar business update above. Additional decreases
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from the changes discussed in the Azar business update above. Additional decreases occurred across
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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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$7.0 million. Direct Revenue benefited from a 4% increase in RPP, which was positively impacted by
Previous wording
dollar compared to the Euro, mostly offset by a 5% decrease in Payers. On a consistent foreign
Current wording
decrease in Payers. On a consistent foreign exchange rate basis, Direct Revenue declined$32.3
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Hinge Direct Revenue grew$78.3 million, or 24%. Revenue growth was driven by continued
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Hinge Direct Revenue grew$114.2 million, or 23%. Revenue growth was driven by continued
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increased 16%, and RPP increased 7%. RPP was positively impacted by the weakening of the U.S.
Current wording
increased 19%, and RPP increased 3%. RPP was positively impacted by the weakening of the U.S.
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E&E Direct Revenue declined$52.0 million, or 12%. The decline at E&E was driven by lower
Current wording
E&E Direct Revenue declined$97.4 million, or 15%. The decline at E&E was driven by lower
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brands, partially offset by higher RPP. RPP was positively impacted by the weakening of the U.S. dollar
Current wording
revenue at Azar, as well as Payer declines at most E&E brands, partially offset by higher RPP. RPP was
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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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payments to alternate payment methods, resulting in $43.0 million lower in-app purchase fees partially
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increase of $4.6 million in credit card processing fees.
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offset by an increase of $4.5 million in credit card processing fees.
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Selling and marketing expense increased 7% primarily due to higher cost of acquisition expense at
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Selling and marketing expense increased 9% primarily due to higher cost of acquisition expense at
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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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employee compensation costs primarily within E&E and Corporate and Unallocated Costs due to
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reduced headcount and a reduction in severance expense compared to 2025. Stock-based
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reduced headcount and lower severance expense compared to 2025. Stock-based compensation
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expense at Hinge and increased expense at Tinder and Hinge related to utilization of AI.
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Hinge related to utilization of tokens associated with AI and increased headcount at Hinge. The
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assets at E&E 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, partially offset by the
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million, down 5%, primarily due to an increase in cost of acquisition and a decrease in revenue,
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expense and a decrease in revenue.
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increased cost of acquisition and employee compensation within product development
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employee compensation within product development expense.
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•E&E’s operating income was$24.9 million, an increase of$19.4 million, and Adjusted EBITDA
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•E&E’s operating income was$21.8 million, a decrease of$10.4 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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•E&E’s operating income was$46.7 million, an increase of 24%, and Adjusted EBITDA was
Previous wording
These reductions were partially offset by the decrease in revenue.
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of acquisition, and employee compensation expense. These reductions were partially offset by
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At June 30, 2026, there was$381.5 million of unrecognized compensation cost, net of estimated
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At September 30, 2026, there was$338.0 million of unrecognized compensation cost, net of
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forfeitures, related to stock-based awards, which is expected to be recognized over a weighted average
Current wording
estimated forfeitures, related to stock-based awards, which is expected to be recognized over a
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which was repaid in full in January 2025.
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which was repaid in full in January 2025, and the decrease in the outstanding balance of the 2026
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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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lower tax rate on U.S. income derived from foreign sources.
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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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In 2026 and 2025, the effective rates of 20% and 18%, respectively, were lower than the statutory
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generated by the exercise and vesting of stock-based awards, and research credits. These effects were
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generated by the exercise and vesting of stock-based awards, and, for 2026, research credits. These
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partially offset by nondeductible stock-based compensation, state income taxes, and foreign income
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effects were partially offset by nondeductible stock-based compensation and state income taxes, and,
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compensation, and foreign income taxed at higher rates.
Current wording
for 2026, foreign income taxed at higher rates.
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Rearranged current paragraphs (9)
Current report — wording carried from elsewhere
payable each June 1 and December 1, which were issued on May 19, 2020. As of
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Selling and marketing expense increased 7% primarily due to the factors described above in the
Current report — wording carried from elsewhere
Product development expense increased primarily due to increased expense at Tinder and Hinge
Current report — wording carried from elsewhere
decrease in amortization of intangibles due to certain acquired assets having been fully amortized.
Current report — wording carried from elsewhere
2025, partially offset by the decrease in the outstanding balance of the 2026 Exchangeable Notes,
Current report — wording carried from elsewhere
and other liabilities of$23.2 million due to the timing of payments.
Current report — wording carried from elsewhere
dividends paid of$136.9 million, and payments of$118.1 million of withholding taxes paid on behalf of
Current report — wording carried from elsewhere
$25.8 million of other investing cash outflows.
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10-K for the year ended December 31, 2025.
Rearranged previous paragraphs (7)
Previous report — wording carried elsewhere
payable each June 1 and December 1, which were issued on May 19, 2020. As of June 30,
Previous report — wording carried elsewhere
exchange rate basis, Direct Revenue declined$22.9 million, or 3%.
Previous report — wording carried elsewhere
Depreciation was lower in 2026 compared to 2025 primarily due to a decrease in depreciation of
Previous report — wording carried elsewhere
internally developed software at Tinder as certain assets became fully depreciated in the prior year.
Previous report — wording carried elsewhere
partially offset by a reduction in in-app purchase fees. Operating income further benefited from
Previous report — wording carried elsewhere
a reduction in depreciation and stock-based compensation expense.
Previous report — wording carried elsewhere
above in the three-month discussion.