Match Group (MTCH) FY2025 results: revenue $3.5 billion, up 0.2% on the year
Match Group, Inc. (MTCH) reported revenue of $3.5 billion for fiscal 2025, the year ended 31 December 2025, up 0.2% on the year before. Net income was $613 million, up 11.3%, and diluted earnings per share $2.38. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$3.5 billion
+0.2% on the year
FY2018FY2025
Operating margin
25.0%
23.7% a year earlier
FY2018FY2025
Net income
$613 million
+11.3% on the year
FY2018FY2025
Diluted EPS
$2.38
+17.8% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 1 raised, 23 new.
Revenue flat as pricing offset payers: Full-year revenue was $3.5 billion, flat as reported and on an FX-neutral basis. Revenue per payer rose 5% to $20.09, while payers fell 5% to 14.2 million.
Adjusted EBITDA ex-items near 38%: Full-year Adjusted EBITDA was $1.2 billion, down 1%, at a 35% margin. Excluding discrete items, it was $1.3 billion, up 6%, at a 38% margin.
Tinder direct revenue declined: Tinder full-year direct revenue was $1.9 billion, down 4%. Fourth-quarter direct revenue was $464 million, down 3%, with payers down 8% to 8.8 million.
Hinge direct revenue grew 26%: Hinge full-year direct revenue was $691 million, up 26%. Fourth-quarter direct revenue was $186 million, up 26%, with payers up 17% to 1.9 million.
Sparks declines narrowed: Global Sparks declined 5% Y/Y in December 2025, against 11% a year earlier. Sparks Coverage moved from down 1% to up 4% Y/Y over the same period.
$ 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
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
1,080
933
897
+15.8%
Capital expenditure
56.8
50.6
67.4
+12.2%
Free cash flow
1,024
882
829
+16.0%
Free cash flow margin
29.4%
25.4%
24.7%
Cash from investing
-46.8
-58.5
-76.6
Cash from financing
-985
-758
-534
Depreciation and amortisation
n/a
n/a
110
Share-based compensation
258
267
232
-3.4%
Buybacks
789
753
546
+4.8%
Dividends paid
186
0.0
0.0
Dividend per share
$0.76
$0.19
n/a
+300.0%
Diluted shares, weighted
262m
279m
293m
-5.9%
Shares outstanding at period end
233m
251m
269m
-7.5%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
-254
-63.7
-19.5
Non-controlling interest
0.1
0.0
0.5
+5,300.0%
Redeemable equity
n/a
n/a
0.0
Debt
3,973
3,849
3,842
+3.2%
Operating lease liabilities
102
84.6
98.5
+20.2%
Other liabilities
640
596
586
+7.4%
Total liabilities and equity
4,461
4,466
4,508
-0.1%
Fixed assets
131
158
195
-17.1%
Goodwill
2,339
2,311
2,343
+1.2%
Intangible assets
193
215
306
-10.5%
Investments
3.5
4.7
6.2
-26.9%
Cash and equivalents
1,028
966
862
+6.4%
Receivables
303
325
299
-6.6%
Other assets
463
486
498
-4.8%
Total assets
4,461
4,466
4,508
-0.1%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.