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Match Group (MTCH) FY2024 results: revenue $3.5 billion, up 3.4% on the year

Match Group, Inc. (MTCH) reported revenue of $3.5 billion for fiscal 2024, the year ended 31 December 2024, up 3.4% on the year before. Net income was $551 million, down 15.4%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue
$3.5 billion
+3.4% on the year
FY2017FY2024
Operating margin
23.7%
27.3% a year earlier
FY2017FY2024
Net income
$551 million
-15.4% on the year
FY2017FY2024
Diluted EPS
$2.02
-10.6% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue3,4793,3653,189+3.4%
Cost of revenue991954960+3.9%
Gross profit2,4882,4102,229+3.2%
Gross margin71.5%71.6%69.9%
Research and development442384334+15.1%
Operating income823917515-10.2%
Operating margin23.7%27.3%16.2%
Interest expense160160146+0.1%
Pre-tax income704777377-9.4%
Income tax15312515.4+21.9%
Effective tax rate21.7%16.1%4.1%
Net income551652362-15.4%
Net margin15.8%19.4%11.4%
Diluted EPS$2.02$2.26$1.24-10.6%
$ million except per share.
Read moreFree 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow933897526+4.0%
Capital expenditure50.667.449.1-25.0%
Free cash flow882829477+6.4%
Free cash flow margin25.4%24.7%14.9%
Cash from investing-58.5-76.6-71.7
Cash from financing-758-534-689
Depreciation and amortisationn/a110410
Share-based compensation267232204+15.2%
Buybacks753546482+37.8%
Dividends paid0.00.00.0
Dividend per share$0.19n/an/a
Diluted shares, weighted279m293m295m-4.8%
Shares outstanding at period end251m269m280m-6.5%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity-63.7-19.5-360
Non-controlling interest0.00.51.0-99.6%
Redeemable equityn/a0.00.0
Debt3,8493,8423,836+0.2%
Operating lease liabilities84.698.597.4-14.1%
Other liabilities596586609+1.6%
Total liabilities and equity4,4664,5084,183-0.9%
Fixed assets158195176-18.7%
Goodwill2,3112,3432,348-1.4%
Intangible assets215306358-29.5%
Investments4.76.28.7-23.6%
Cash and equivalents966862572+12.0%
Receivables325299192+8.8%
Other assets486498527-2.4%
Total assets4,4664,5084,183-0.9%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.