Match Group Inc - New
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −2.49%.
Did MTCH Beat Earnings? Q4 2025 Results
Match Group delivered a mixed second quarter for fiscal 2026, with total revenue of $853.00 million falling just shy of the $856.73 million consensus estimate, a -0.43% miss, as the top line slipped 1.2% year over year amid ongoing softness at Tinder. The real story, however, was profitability: Adjusted EBITDA climbed 14% year over year to $331.00 million, representing a 39% margin that exceeded expectations, while net income rose 36% to $171.00 million, underscoring how aggressively management has restructured costs. Tinder Direct Revenue dipped 1% year over year to $457.00 million, partly weighed down by roughly $8.00 million in headwinds from user experience tests, though daily active user declines narrowed to 4% year over year, the best result in ten quarters. Hinge remained the growth engine, with Direct Revenue up 22% to $204.00 million. Looking ahead, Match guided Q3 revenue of $885.00 to $895.00 million and raised its full-year Adjusted EBITDA outlook above the high end of prior guidance, with margins expected to exceed 37.5%, signaling growing confidence in its product-led recovery.
- Tinder DAU declines narrowed to 4% Y/Y in Q2, best result in 10 quarters
- Tinder DAU improved for the fifth consecutive month to down nearly 2.5% Y/Y in July
- Hinge Direct Revenue grew 22% Y/Y with global MAU up 13% Y/Y
- Hinge European expansion markets grew Direct Revenue 86% Y/Y
- RPP increased 6% Y/Y to $21.13 across the company
- Cost of revenue decreased 16% driven by alternative payment savings
- E&E Adjusted EBITDA increased 69% Y/Y with margin improving to 30%
- Adjusted EBITDA grew 14% Y/Y to 39% margin
“Tinder finally looks and feels like the app young daters want to use. We have improved our recommendation algorithms, strengthened Trust and Safety, introduced new ways to connect with features like Double Date and Music Mode, and completed Tinder's first full rebrand in nearly a decade, and these changes are driving meaningful gains in metrics like DAU and retention to date. The next step is winning back singles who've drifted away, and reaching those who've never tried Tinder at all. In-person Events, now live in the U.S. and Europe, are an important part of that strategy.”
Match Group CEO, on the earnings call
Forward Guidance & Outlook
For Q3 2026, Match Group expects Total Revenue of $885 to $895 million (down 2-3% Y/Y), and Adjusted EBITDA of $330 to $335 million (up 10% Y/Y at midpoint) with a 37% margin. Q3 guidance assumes a $10 million negative impact from Tinder user experience tests and a $15 million negative impact from lower Azar Direct Revenue due to a required app redesign. For full-year 2026, total revenue is expected near the mid-point of prior guidance on an as-reported basis and at-or-above the mid-point FXN. Adjusted EBITDA is now expected at-or-above the high end of prior guidance with margins exceeding the 37.5% target. Tinder Direct Revenue is expected to decline in the low-single-digit percents for the full year (improved from prior guidance), with user experience test impacts reduced to $30-40 million from the initial $60 million estimate. E&E Direct Revenue is expected to decline in the mid-teens percent. FCF is expected at the high end of prior guidance. SBC expense is expected at $230-240 million for the full year. Hinge is still expected to reach $1 billion in revenue in 2027.
MTCH YoY Financials
MTCH Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.