Match Group
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Match Group (MTCH) investor relations material

Match Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary3 Feb, 2026

Executive summary

  • Achieved and exceeded 2025 revenue and margin goals, with Q4 revenue at $878M (up 2%) and Adjusted EBITDA at $370M (up 14%), alongside strong engagement improvements at Tinder and rapid international growth at Hinge.

  • Completed company reset and first year of a three-phase transformation, now focused on user outcomes, product innovation, and long-term growth, especially at Tinder and Hinge.

  • Returned over $1B in free cash flow to shareholders in 2025 through $800M buybacks and $200M dividends, reducing diluted shares by 7% year-over-year to 241M.

  • Net income for 2025 was $613M, up 11% year-over-year, with Q4 net income at $210M, up 32% year-over-year.

  • Net income and Adjusted EBITDA include an $8M gain from a building sale and $2M in restructuring costs in Q4 2025.

Financial highlights

  • Full-year 2025 revenue was $3.5B (flat year-over-year); Q4 2025 revenue was $878M, up 2% year-over-year.

  • Adjusted EBITDA for 2025 was $1.2B, down 1% year-over-year, with a margin of 35%; Q4 margin was 42%.

  • Free cash flow for 2025 was $1.0B–$1.024B; operating cash flow was $1.1B.

  • RPP increased 5–7% year-over-year to $20.09–$20.72, while payers declined 5% to 13.8–14.2M.

  • Share repurchases in 2025 totaled $789M, representing 95% of free cash flow.

Outlook and guidance

  • 2026 total revenue expected flat year-over-year at $3.41–$3.54B; Adjusted EBITDA margin ~37.5%.

  • Q1 2026 revenue guidance: $850M–$860M, up 2–3% year-over-year; Adjusted EBITDA: $315M–$320M.

  • Free cash flow for 2026 expected at $1.085B–$1.14B, up 8% year-over-year.

  • Plan to use 100% of free cash flow for buybacks, dividends, and net selling employee equity awards.

  • Tinder direct revenue to decline at a similar rate as 2025; Hinge to grow direct revenue in the low-to-mid-20% range.

Tinder: Monetization strategy for new engagement
Debt strategy beyond 2026 exchangeable notes?
Payer decline: How will product strategy reverse it?
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Frequently asked questions

It’s a Match

Match Group Inc. is an American company with global operations that operates a portfolio of online dating services. Its portfolio of platforms includes Tinder, Match.com, OkCupid, Hinge, and PlentyOfFish, among others, each catering to different user preferences and demographics. The company's business model revolves around offering a combination of free and premium subscription services, with users being able to access the platforms for free and pay for additional features. The company is headquartered in Dallas, Texas, and its shares are listed on the Nasdaq.

The Dawn of Internet Dating

Match Group's history dates back to 1993 with the birth of Match.com, one of the first services of its kind in the online dating sector. As internet dating continued to grow as a phenomenon, the company grew with new product launches as well as several acquisitions. During this time, Match Group was owned by IAC, and went public in 2015, eventually becoming entirely independent in 2020. Today, the company owns just about every single large American dating app and website besides Bumble.

Tinder

The company's most notable success, Tinder, was launched in 2012, quickly becoming a cultural phenomenon and significantly boosting Match Group's market presence and revenue. Tinder more or less completely revolutionized dating apps, making the matchmaking progress between users happen through the swipe of a finger.

The Other Platforms

As previously mentioned, Tinder and Match.com are not the only significant brands and platforms that the company owns. Besides these two, arguably the most influential platform owned by Match Group is Hinge. The platform builds upon the ideas and structure established by Tinder but markets itself as a place for those looking for long-term relationships. Overall, the platforms owned by Match Group have a significant global share of the market for online dating. Its apps and websites have users all over the world and are becoming increasingly popular places to meet potential future partners.

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