Match Group Q4 Earnings & Revenues Beat Estimates, Both Increase Y/Y

Match Group MTCH reported fourth-quarter 2025 earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate by 4.95%. The bottom line grew 29.3% from the year-ago quarter’s reported figure.

Revenues were $878 million, up 2.1% year over year and beat the Zacks Consensus Estimate by 0.74%. On an FX-neutral basis, revenues were flat year over year at $860.2 million.

Direct revenues were $860.3 million, up 1.8% year over year, and indirect revenues increased to $17.7 million, a 19.6% rise from the year-ago quarter. Top-line growth was primarily driven by strength in Hinge. Hinge Direct revenues increased 26.3% year over year.

MTCH’s Quarterly Details

In the fourth quarter, the total number of payers decreased by 5.3% year over year to 13.8 million. The figure missed the Zacks Consensus Estimate by 1.29%.

Match Group Inc. Price, Consensus and EPS Surprise

Match Group Inc. price-consensus-eps-surprise-chart | Match Group Inc. Quote

Total revenues per payer (RPP) increased 7.4% year over year to $20.72. The figure beat the Zacks Consensus Estimate by 1.91%.

Direct revenues from Tinder were down 2.6% year over year (down 5% on an FX-neutral basis) to $463.8 million. The figure surpassed the Zacks Consensus Estimate by 1.51%.

Tinder RPP rose 5.4% year over year to $17.63, and payers declined 7.6% to 8.8 million.

Hinge revenues grew 26.3% year over year to $186.5 million (up 24% on an FX-neutral basis), with a 16.5% increase in payers to 1.9 million and an 8.3% increase in RPP to $32.96.

Match Group Asia (MG Asia) direct revenues declined 1.5% year over year (down 1% on an FX-neutral basis) to $65.6 million. MG Asia encompasses the worldwide activities of the brands Pairs and Azar. Across MG Asia, payers increased 3.4% year over year to 1.0 million, while RPP declined 4.7% to $20.91, partly reflecting the impact of Hakuna’s exit in mid-2024.

Evergreen and Emerging revenues declined 6.8% year over year (down 9% on an FX-neutral basis) to $144.5 million. This reflected a 14% drop in payers to 2.1 million, despite an 8.3% gain in RPP to $22.53.

Match Group’s Operating Details

Total operating costs and expenses (67.6% of revenues) decreased 6.8% year over year to $593.3 million in the fourth quarter.

Adjusted EBITDA was $369.8 million, up 14.2% year over year, representing an adjusted EBITDA margin of 42.1%, which expanded 450 basis points.

MTCH’s Balance Sheet

As of Dec. 31, 2025, Match Group had cash, cash equivalents and short-term investments of $1.0 billion compared with $1.1 billion as of Sept. 30, 2025.

The company reported long-term debt of $4.0 billion as of Dec. 31, 2025, down from $4.1 billion reported as of Sept. 30, 2025.

In the quarter ended Dec. 31, 2025, Match Group repurchased 7.3 million shares of common stock for $239 million.

As of Jan. 31, 2026, $959 million in aggregate value of shares of Match Group stock was available under the current share repurchase program.

MTCH’s Q1 & 2026 Guidance

Match Group expects first-quarter 2026 revenues of $850-$860 million, suggesting 2-3% year-over-year growth. This range assumes a nearly 3.5-point year-over-year tailwind from FX.

Adjusted EBITDA of $315 to $320 million, representing a year-over-year increase of 15% and an adjusted EBITDA margin of 37% at the midpoint of the ranges.

For 2026, the company expects revenues of $3.410 to $3.535 billion, roughly flat year over year at the mid-point of the range.

Adjusted EBITDA to be in the range of $1.280 to $1.325 billion, with an Adjusted EBITDA margin of approximately 37.5% at the midpoint, reflecting planned reinvestment of cost savings into Tinder and Hinge to support the Revitalize phase of its transformation strategy.

Free cash flow is projected at $1.085 to $1.135 billion, reflecting about 8% year-over-year growth.

Match Group’s Zacks Rank & Stocks to Consider

Currently, MTCH carries a Zacks Rank #3 (Hold).

IPG Photonics Corp IPGP, Advanced Energy AEIS and Yelp Inc. YELP are some better-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector. While IPG Photonics currently sports a Zacks Rank #1 (Strong Buy), Advanced Energy and Yelp carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

IPG Photonics shares have appreciated 37.9% over the past year. IPGP is set to report its fourth-quarter 2025 results on Feb. 12, 2026.

Advanced Energy shares have soared 130.9% over the past year. AEIS is set to report its fourth-quarter 2025 results on Feb. 10, 2026.

Yelp shares have declined 37.1% over the past year. YELP is scheduled to report its fourth-quarter 2025 results on Feb. 12, 2026.

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