Match Group (MTCH) Company Report

Total revenue $914 million (+2% yoy); Adjusted EBITDA $301 million (-12% yoy; 33% margin; ex-charges $364 million, 40% margin).
Tinder direct revenue $491 million (-3% yoy), payers 9.3 million (-7%), RPP $17.66 (+5%); Hinge direct revenue $185 million (+27% yoy), payers 1.9 million (+17%), RPP $32.87 (+9%), Adj. EBITDA $63 million (+22%).
YTD share repurchases $550 million (17.4 million shares at $32 avg) and Oct buyback $100 million (3 million shares); raised FY25 free cash flow guidance to $1.11–$1.14 billion.
Q4 guidance: revenue $865–$875 million (+1–2% yoy; FX-neutral down 1–2%), Adjusted EBITDA $350–$355 million (+9%), margin ~41% midpoint.

Nov 4, 2025, 10:00 PM

Transcript

Match Group reports Q3 2025 results

MTCH

Earnings

Total revenue was $914 M, up 2% year-over-year in Q3 2025.
Net income rose to $161 M (+18% y/y), with a margin of 18%.
Adjusted EBITDA was $301 M, down 12% y/y, representing a 33% margin.
Payers averaged 14.5 M (–5% y/y), while revenue per payer increased to $20.58 (+7% y/y).
YTD operating cash flow reached $758 M and free cash flow was $716 M through September 30, 2025.

Nov 4, 2025, 10:00 PM

Presentation

Match Group announces Q3 2025 results

MTCH

Earnings

Dividends

Share Buyback

Match Group reported Q3 2025 total revenue of $914 million (+2% Y/Y, +1% FXN), driven by a 7% increase in RPP to $20.58, partially offset by a 5% decline in payers to 14.5 million.
Q3 net income was $161 million (+18% Y/Y; 18% margin); Adjusted EBITDA was $301 million (-12% Y/Y; 33% margin), or $364 million (+6% Y/Y; 40% margin) excluding a $61 million legal settlement and $2 million of restructuring costs.
The board declared a $0.19 per share dividend payable January 21, 2026, and through Q3 repurchased 17.4 million shares for $550 million, deploying 97% of free cash flow.
Q4 2025 guidance: total revenue of $865–$875 million (+1–2% Y/Y) and Adjusted EBITDA of $350–$355 million (+9% Y/Y), with a 41% margin at midpoint.

Nov 4, 2025, 9:13 PM

8-K

Match Group announces Q3 2025 results

MTCH

Earnings

Share Buyback

Legal Proceedings

Match Group reported Q3 revenue of $914 million, up 2% Y/Y, driven by a 7% increase in RPP to $20.58 and a 5% decline in payers to 14.5 million.
Net income was $161 million (+18% Y/Y; 18% margin) and Adjusted EBITDA was $301 million (33% margin); excluding a $61 million legal charge and $2 million of restructuring costs, Adjusted EBITDA was $364 million (40% margin).
Year-to-date through September 30, operating cash flow reached $758 million and free cash flow was $716 million; the company repurchased 17.4 million shares for $550 million and paid $141 million in dividends.
Executed a $50 million reinvestment plan across marketing, international expansion and user-first features, accelerating product velocity and trust-and-safety enhancements.
Resolved the decade-old Candelore v. Tinder age-based pricing lawsuit, incurring a $61 million settlement charge and closing the matter.

Nov 4, 2025, 9:11 PM

Press Release

Match Group expands Tinder facial verification to all new U.S. users

MTCH

Product Launch

Demand Weakening

Tinder is expanding its Face Check facial verification feature to all new U.S. users, following an initial rollout in California and other countries to combat impersonation and fake profiles.
The feature requires new users to submit a short video selfie for identity verification against profile pictures; videos are deleted after processing, while an encrypted face map and vector are retained to prevent duplicate accounts.
Since introduction, Tinder reports a 60% reduction in exposure to potential bad actors and a 40% decrease in related reports, underscoring improvements in platform safety.
Face Check builds on multi-layered verification (photo verification in 2021, video verification in 2023, government ID checks in 2024) and is planned for extension to other Match Group apps by 2026.
The expansion comes amid safety and privacy concerns and a 7% drop in paying subscribers in Q2 2025, partly motivating the rollout.

Oct 22, 2025, 2:12 PM

Bloomberg

Match Group outlines turnaround and growth strategy

MTCH

Layoffs

Revenue Acceleration/Inflection

Product Launch

Under CEO Spencer and CFO Bailey, Match implemented a 13% workforce reduction (including a 20% cut in Tinder management layers), freeing $50 million for reinvestment in product initiatives.
Total addressable market remains underpenetrated, with 30% adoption of dating apps in developed markets, 7% in developing markets, and 250 million active daters globally not yet using apps (vs. 82 million Tinder MAU).
A product-led turnaround at Tinder has accelerated release cadence to weekly, rolling out features like DoubleDate and interactive matching to improve lower-funnel outcomes and user growth.
Match targets a Phase 3 resurgence in 2026–27, focusing on outcome metrics (e.g., four-way conversations, contact exchanges) to drive retention, word-of-mouth and ultimately MAU and revenue growth.
Hinge’s growth is accelerating toward $1 billion in revenue by 2027 via user expansion across core and new markets, geographic rollout (e.g., Mexico, Brazil) and optimized pricing, with AI-driven features in development.

Sep 3, 2025, 3:52 PM

Match Group issues $700 million of 6.125% senior notes due 2033

MTCH

Debt Issuance

On August 20, 2025, Match Group Holdings II, LLC issued $700.0 million aggregate principal amount of 6.125% senior notes due 2033, receiving net proceeds of approximately $691.0 million.
Net proceeds will repay all outstanding 0.875% exchangeable senior notes due 2026, with any remaining funds used for general corporate purposes.
The notes accrue 6.125% interest per annum, payable semi-annually on March 15 and September 15 (commencing March 15, 2026), and mature on September 15, 2033.
They are general unsecured senior obligations, ranking equally with other unsubordinated debt and structurally subordinated to obligations of non-guarantor subsidiaries; the indenture includes covenants limiting liens and asset dispositions.
The issuer may redeem the notes before September 15, 2028 at 100% of principal plus a make-whole premium, thereafter at declining percentages, and up to 40% before that date at 106.125% with equity offering proceeds.

Aug 20, 2025, 12:00 AM

8-K

Match Group Prioritizes Culture Overhaul and Product Innovation

MTCH

Management Change

Product Launch

Dividends

CEO Spencer Rascoff emphasized rebooting company culture and prioritizing people to drive product innovation across brands, including Tinder and Hinge.
The company is implementing significant product enhancements such as AI-driven features (e.g., Tinder’s Duos) and expanding Hinge’s global footprint, targeting improved engagement with a younger audience.
A strategic reorganization is underway with cost-cutting measures including layoffs and managerial reductions to achieve savings for reinvestment, alongside a commitment to returning free cash flow to shareholders through dividends and buybacks.

May 13, 2025, 1:31 PM

Transcript

Match Group Announces Q1 2025 Results & Strategic Update

MTCH

Earnings

CEO Change

Layoffs

Dividends

Product Launch

Q1 2025 Financials: Total Revenue of $831M (down 3% YoY); Operating Income of $193M (42% margin) and Adjusted Operating Income of $275M (33% margin) with Free Cash Flow of $178M .
Operational Reorganization under new CEO Spencer Rascoff: a unified structure with a 13% workforce reduction targeting over $100M in annual savings (including $45M in-year savings) .
Capital Returns: 6.1M shares repurchased at ~$32 per share (~~$195M) and a $0.19 dividend per share (~~$48M), deploying over 135% of free cash flow .
Product Innovation: Launch of Tinder’s Double Date and The Game Game features along with Hinge’s AI-powered recommendation algorithm, as Hinge direct revenue climbed 23% to $152M while Tinder experienced a decline .

May 8, 2025, 12:31 PM

Transcript Presentation Press Release 8-K

Match Group Adds Kelly Campbell to Its Board of Directors

MTCH

Board Change

Kelly Campbell, former president of NBCUniversal’s Peacock, has been nominated to join the Match Group Board effective the 2025 Annual Meeting, with her term expiring at the 2028 Annual Meeting.
The board is being expanded to 11 directors, with over one third of the members being new, indicating significant board reshaping.
As part of this move, Match Group and Anson Funds have entered into an information sharing agreement, and Anson Funds has withdrawn its director nominations and proposal to declassify the board.

Apr 29, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Match Group.

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