Match Group (MTCH) FY2021 results: revenue $3.0 billion, up 24.8% on the year

Match Group, Inc. (MTCH) reported revenue of $3.0 billion for fiscal 2021, the year ended 31 December 2021, up 24.8% on the year before. Net income was $278 million, up 71.1%, and diluted earnings per share $0.93. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.

Revenue

$3.0 billion

+24.8% on the year

FY2014FY2021

Operating margin

28.5%

31.2% a year earlier

FY2014FY2021

Net income

$278 million

+71.1% on the year

FY2014FY2021

Diluted EPS

$0.93

+40.9% on the year

FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q3 FY2021 · Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	2,983	2,391	2,051	+24.8%
Cost of revenue	839	636	1,127	+32.0%
Gross profit	2,144	1,755	n/a	+22.1%
Gross margin	71.9%	73.4%	n/a
Research and development	241	170	152	+42.0%
Operating income	852	746	645	+14.2%
Operating margin	28.5%	31.2%	31.5%
Interest expense	130	131	111	-0.1%
Pre-tax income	256	631	532	-59.4%
Income tax	-19.9	43.3	15.1
Effective tax rate	-7.8%	6.9%	2.8%
Net income	278	162	454	+71.1%
Net margin	9.3%	6.8%	22.1%
Diluted EPS	$0.93	$0.66	$2.15	+40.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2021	FY2020	FY2019	On the year
Operating cash flow	912	802	938	+13.8%
Capital expenditure	80.0	42.4	39.0	+88.7%
Free cash flow	833	760	899	+9.6%
Free cash flow margin	27.9%	31.8%	43.8%
Cash from investing	-940	n/a	-330
Cash from financing	111	n/a	400
Depreciation and amortisation	70.0	48.8	43.1	+43.4%
Share-based compensation	147	102	89.7	+43.6%
Buybacks	0.0	0.0	216
Dividends paid	0.0	0.0	0.0
Diluted shares, weighted	305m	256m	202m	+19.1%
Shares outstanding at period end	283m	267m	n/a	+6.0%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	-204	-1,414	2,658
Non-controlling interest	7.9	1.0	970	+660.7%
Redeemable equity	1.3	0.6	44.5	+96.9%
Debt	3,929	3,841	3,240	+2.3%
Operating lease liabilities	114	83.5	26.0	+36.0%
Other liabilities	1,215	535	1,506	+127.2%
Total liabilities and equity	5,063	3,046	8,445	+66.2%
Fixed assets	163	108	101	+51.4%
Goodwill	2,412	1,271	1,240	+89.8%
Intangible assets	772	231	228	+234.2%
Investments	11.8	0.0	373
Cash and equivalents	815	739	466	+10.3%
Receivables	188	137	116	+37.6%
Other assets	701	561	5,920	+24.9%
Total assets	5,063	3,046	8,445	+66.2%

10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.