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Mar 31, 2024
Match Group Q1 2024 Earnings Report
Match Group's Q1 2024 performance was marked by revenue growth and strategic advancements across its brand portfolio.
Key Takeaways
Match Group's Q1 2024 saw a 9% increase in total revenue to $860 million. Hinge's direct revenue grew by 50%, while Tinder's direct revenue increased by 9%. The company is focused on improving Tinder's ecosystem and expanding Hinge's market presence.
Total Revenue grew 9% year-over-year to $860 million.
Hinge Direct Revenue increased 50% year-over-year.
Tinder Direct Revenue grew 9% year-over-year.
The company repurchased $198 million of its stock, deploying approximately 75% of free cash flow.
Match Group
Match Group
Match Group Revenue by Segment
Revenue by Segment
Direct Revenue
CapyFin.com Forward Guidance
Match Group anticipates Q2 2024 Total Revenue between $850 to $860 million, with Hinge's Direct Revenue expected to grow between 38% to 44%. For the full year 2024, the company expects to generate nearly $1.1 billion of free cash flow.
Positive Outlook
- Expect Total Revenue of $850 to $860 million for Q2 2024, up 2% to 4% Y/Y.
- Tinder Direct Revenue is expected to be $475 to $480 million for Q2 2024.
- Expect Hinge Direct Revenue to grow 38% to 44% Y/Y in Q2 2024.
- Expect AOI of $300 to $305 million for Q2 2024.
- Anticipate full year 2024 FCF generation of nearly $1.1 billion.
Challenges Ahead
- Expect Tinder Y/Y Direct Revenue growth for the remaining quarters of 2024 to be in the low single digits.
- Match Group expects to deliver Y/Y Total Revenue growth near the lower end of its previously stated 6% to 9% range for full year 2024.
- Tinder continues to see pressure on MAU.
- Tinder is also facing increasing pressure on à la carte (“ALC”) revenue.
- Tinder Payers were down ~255,000 on a sequential basis.