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Dec 31, 2025
Match Group Q4 2025 Earnings Report
Match Group reported strong fourth quarter and full-year 2025 results, exceeding revenue and Adjusted EBITDA expectations, driven by increased RPP and improved engagement across its portfolio.
Key Takeaways
Match Group announced robust financial results for Q4 and full-year 2025, surpassing revenue and Adjusted EBITDA forecasts. The company's strategic transformation, focusing on user outcomes, showed meaningful progress, with Tinder improving new registrations and MAU trends, and Hinge demonstrating strong user growth and international expansion.
Total Revenue for Q4 2025 increased 2% year-over-year to $878 million, exceeding expectations.
Adjusted EBITDA for Q4 2025 grew 14% year-over-year to $370 million, also surpassing expectations.
Tinder's Sparks Coverage, a core engagement metric, increased 4% year-over-year in December, indicating improved real-world outcomes.
Hinge's direct revenue grew 26% year-over-year in Q4, with MAU in European expansion markets increasing by nearly 50% in FY25.
Revenue by Segment
Forward Guidance
Match Group provided optimistic guidance for Q1 2026 and the full year 2026, anticipating continued revenue growth and significant increases in Adjusted EBITDA, reflecting confidence in their strategic initiatives and market position.
Positive Outlook
- Q1 2026 Total Revenue is expected to be between $850 million and $860 million, representing a 2% to 3% Y/Y increase.
- Q1 2026 Adjusted EBITDA is projected to be between $315 million and $320 million, a 15% Y/Y increase at the midpoints.
- Full-year 2026 Total Revenue is expected to be between $3,410 million and $3,535 million, approximately flat Y/Y at the midpoint.
- Full-year 2026 Adjusted EBITDA is projected to be between $1,280 million and $1,325 million.
- Full-year 2026 Free Cash Flow is expected to be between $1,085 million and $1,135 million.
Challenges Ahead
- The full-year 2026 Total Revenue guidance is approximately flat year-over-year at the midpoint, indicating a potential slowdown in growth compared to previous periods.
- No specific negative factors were highlighted in the forward guidance, but general market uncertainties could impact performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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