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Sep 30
Match Group Q3 2025 Earnings Report
Match Group delivered on revenue expectations and exceeded Adjusted EBITDA expectations in Q3 2025, driven by accelerated innovation and product-led transformation.
Key Takeaways
Match Group reported a strong third quarter in 2025, meeting its revenue targets and surpassing Adjusted EBITDA expectations, excluding a significant legal settlement charge. The company's strategic focus on product innovation, operational rigor, and user empathy is showing promising results, with increased product velocity and strengthened trust and safety measures. These efforts are laying the groundwork for future growth and the anticipated 'Resurgence' phase in 2026 and 2027.
Total revenue for Q3 2025 reached $914 million, a 2% increase year-over-year, meeting company expectations.
Net income attributable to Match Group, Inc. shareholders grew by 18% year-over-year to $161 million.
Adjusted EBITDA was $301 million, exceeding expectations despite a 12% decrease year-over-year, primarily due to a $61 million legal settlement charge.
The company made significant progress on its product roadmap and executed against a $50 million reinvestment plan to test user-first features, strengthen marketing, and expand internationally.
Match Group
Match Group
Match Group Revenue by Segment
Revenue by Segment
Direct Revenue
CapyFin.com Forward Guidance
For Q4 2025, Match Group anticipates revenue between $865 million and $875 million, and Adjusted EBITDA between $350 million and $355 million. The company expects continued progress in its product-led transformation and the 'Resurgence' phase in 2026 and 2027.
Positive Outlook
- Expected Adjusted EBITDA of $350 million to $355 million for Q4 2025, indicating strong profitability.
- Anticipated Adjusted EBITDA Margin of 41% at the mid-point of the range for Q4 2025.
- Continued focus on innovation and user-first features, with learnings from Q3 investments informing 2026 capital deployment.
- Resolution of a decade-old legal case (Candelore v. Tinder, Inc.) allows the company to move forward with focus.
- The company's strategy is showing real progress, setting a foundation for long-term growth and the 'Resurgence' phase in 2026 and 2027.
Challenges Ahead
- Q4 2025 revenue guidance of $865 million to $875 million is lower than Q3 2025 reported revenue of $914 million.
- Adjusted EBITDA for Q3 2025 was $301 million, a 12% decrease year-over-year, impacted by a legal settlement charge.
- Payers decreased by 5% year-over-year in Q3 2025.
- The company's total diluted shares outstanding are projected to be 244.8 million, indicating potential dilution for existing shareholders.
- The forward guidance does not explicitly detail specific product launches or significant user growth initiatives for Q4 2025.