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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 7—SEGMENT INFORMATION Our chief operating decision maker (“CODM”), who is our Chief Executive Officer, analyzes the results of our business through four operating segments consisting of brands or groups of brands within our portfolio: Tinder, Hinge, Evergreen & Emerging, and MG Asia. These four operating segments are also our reportable segments. Our CODM primarily evaluates the operating results and performance of our segments through revenue, operating income, and Adjusted Operating Income. These financial metrics are used to view operating trends, perform analytical comparisons, compare performance between periods, and evaluate variances to forecast on a monthly basis. The following table presents revenue by segment, which includes revenue from customers in the form of direct revenue, indirect revenue, which is primarily advertising revenue, and intersegment revenue, which is eliminated in consolidated results:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Revenue: |  |  |  |  |  |  |
Tinder | $ | 476,701 |  |  | $ | 492,908 |  |  | $ | 940,117 |  |  | $ | 986,018 |
Hinge | 167,505 |  |  | 133,569 |  |  | 319,748 |  |  | 257,322 |
Evergreen & Emerging | 151,349 |  |  | 163,757 |  |  | 303,778 |  |  | 334,893 |
MG Asia | 69,155 |  |  | 73,838 |  |  | 132,978 |  |  | 145,486 |
Eliminations | (972) |  |  | (6) |  |  | (1,705) |  |  | (6) |
Total | $ | 863,738 |  |  | $ | 864,066 |  |  | $ | 1,694,916 |  |  | $ | 1,723,713 |
The following tables present the segment profitability measures, operating income (loss) and Adjusted Operating Income, and a reconciliation of the total segment profitability measures to earnings before income taxes:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Operating income (loss): |  |  |  |  |  |  |
Tinder | $ | 216,968 |  |  | $ | 218,530 |  |  | $ | 410,316 |  |  | $ | 428,572 |
Hinge | 38,926 |  |  | 30,214 |  |  | 67,551 |  |  | 48,719 |
Evergreen & Emerging | (4,397) |  |  | 19,636 |  |  | 2,281 |  |  | 36,957 |
MG Asia | (262) |  |  | (5,365) |  |  | 3,185 |  |  | (13,032) |
Total segment operating income | 251,235 |  |  | 263,015 |  |  | 483,333 |  |  | 501,216 |
Corporate and unallocated costs(a) | (57,314) |  |  | (58,489) |  |  | (116,819) |  |  | (111,952) |
Interest expense | (32,160) |  |  | (40,038) |  |  | (67,416) |  |  | (80,391) |
Other (expense) income, net | (4,056) |  |  | 10,525 |  |  | (1,440) |  |  | 19,999 |
Earnings before income taxes | $ | 157,705 |  |  | $ | 175,013 |  |  | $ | 297,658 |  |  | $ | 328,872 |
______________________ (a)Includes stock-based compensation and depreciation
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Adjusted Operating Income: |  |  |  |  |  |  |
Tinder | $ | 246,214 |  |  | $ | 251,697 |  |  | $ | 474,682 |  |  | $ | 491,533 |
Hinge | 53,835 |  |  | 42,225 |  |  | 96,410 |  |  | 71,180 |
Evergreen & Emerging | 16,071 |  |  | 42,316 |  |  | 44,746 |  |  | 80,592 |
MG Asia | 15,952 |  |  | 13,775 |  |  | 34,932 |  |  | 27,077 |
Total segment Adjusted Operating Income | 332,072 |  |  | 350,013 |  |  | 650,770 |  |  | 670,382 |
Corporate and unallocated costs | (42,125) |  |  | (43,576) |  |  | (85,629) |  |  | (84,499) |
Stock-based compensation | (67,467) |  |  | (69,867) |  |  | (137,861) |  |  | (133,687) |
Depreciation | (18,061) |  |  | (21,092) |  |  | (39,790) |  |  | (41,613) |
Amortization of intangibles | (10,498) |  |  | (10,952) |  |  | (20,976) |  |  | (21,319) |
Interest expense | (32,160) |  |  | (40,038) |  |  | (67,416) |  |  | (80,391) |
Other (expense) income, net | (4,056) |  |  | 10,525 |  |  | (1,440) |  |  | 19,999 |
Earnings before income taxes | $ | 157,705 |  |  | $ | 175,013 |  |  | $ | 297,658 |  |  | $ | 328,872 |
Corporate and unallocated costs includes 1) corporate expenses (such as executive management, investor relations, corporate development, and board of director and public company listing fees), 2) portions of corporate services (such as legal, human resources, accounting, and tax), and 3) certain centrally managed services and technology that have not been allocated to the individual business segments (such as central trust and safety operations and certain shared software). Our CODM does not review disaggregated assets on a segment basis; therefore, such information is not presented. Interest income and other income, net are not allocated to individual segments as these are managed on a consolidated basis. The accounting policies for segment reporting are the same as for our consolidated financial statements. The following tables present the significant segment expenses regularly reviewed by our CODM:
| Three Months Ended June 30, 2025
| Tinder |  | Hinge |  | Evergreen & Emerging |  | MG Asia
| (In thousands)
In-app purchase fees | $ | 98,285 |  |  | $ | 45,645 |  |  | $ | 16,988 |  |  | $ | 16,103 |
Cost of acquisition | 39,284 |  |  | 28,873 |  |  | 46,283 |  |  | 17,931 |
Variable expense | 27,857 |  |  | 5,485 |  |  | 6,838 |  |  | 4,725 |
Employee compensation expense, excluding stock-based compensation expense | 51,620 |  |  | 26,715 |  |  | 36,005 |  |  | 10,620 |
Other operating expenses(a) | 13,441 |  |  | 6,952 |  |  | 29,164 |  |  | 3,824 |
Stock-based compensation(b) | 23,722 |  |  | 14,044 |  |  | 10,409 |  |  | 5,652 |
Depreciation(b) | 5,524 |  |  | 865 |  |  | 6,500 |  |  | 3,623 |
Amortization of intangible assets(b) | — |  |  | — |  |  | 3,559 |  |  | 6,939 |
| Three Months Ended June 30, 2024
| Tinder |  | Hinge |  | Evergreen & Emerging |  | MG Asia
| (In thousands)
In-app purchase fees | $ | 100,218 |  |  | $ | 36,444 |  |  | $ | 17,141 |  |  | $ | 15,448 |
Cost of acquisition | 44,040 |  |  | 23,651 |  |  | 48,208 |  |  | 18,754 |
Variable expense | 31,505 |  |  | 4,487 |  |  | 11,661 |  |  | 10,338 |
Employee compensation expense, excluding stock-based compensation expense | 51,061 |  |  | 21,783 |  |  | 32,318 |  |  | 10,977 |
Other operating expenses(a) | 14,387 |  |  | 4,979 |  |  | 12,113 |  |  | 4,546 |
Stock-based compensation(b) | 23,415 |  |  | 11,464 |  |  | 14,620 |  |  | 6,758 |
Depreciation(b) | 9,752 |  |  | 547 |  |  | 5,154 |  |  | 4,336 |
Amortization of intangible assets(b) | — |  |  | — |  |  | 2,906 |  |  | 8,046 |
| Six Months Ended June 30, 2025
| Tinder |  | Hinge |  | Evergreen & Emerging |  | MG Asia
| (In thousands)
In-app purchase fees | $ | 193,528 |  |  | $ | 87,312 |  |  | $ | 34,737 |  |  | $ | 30,525 |
Cost of acquisition | 84,901 |  |  | 54,399 |  |  | 99,540 |  |  | 33,472 |
Variable expense | 58,241 |  |  | 10,431 |  |  | 13,654 |  |  | 9,593 |
Employee compensation expense, excluding stock-based compensation expense | 103,515 |  |  | 58,461 |  |  | 71,146 |  |  | 19,280 |
Other operating expenses(a) | 25,250 |  |  | 12,735 |  |  | 39,955 |  |  | 5,176 |
Stock-based compensation(b) | 49,037 |  |  | 27,276 |  |  | 22,636 |  |  | 10,486 |
Depreciation(b) | 15,329 |  |  | 1,583 |  |  | 12,817 |  |  | 7,297 |
Amortization of intangible assets(b) | — |  |  | — |  |  | 7,012 |  |  | 13,964 |
| Six Months Ended June 30, 2024
| Tinder |  | Hinge |  | Evergreen & Emerging |  | MG Asia
| (In thousands)
In-app purchase fees | $ | 208,557 |  |  | $ | 71,092 |  |  | $ | 35,629 |  |  | $ | 32,030 |
Cost of acquisition | 94,587 |  |  | 48,607 |  |  | 100,337 |  |  | 36,737 |
Variable expense | 60,737 |  |  | 8,779 |  |  | 26,296 |  |  | 18,117 |
Employee compensation expense, excluding stock-based compensation expense | 104,664 |  |  | 48,518 |  |  | 68,760 |  |  | 21,880 |
Other operating expenses(a) | 25,940 |  |  | 9,146 |  |  | 23,279 |  |  | 9,645 |
Stock-based compensation(b) | 43,956 |  |  | 21,379 |  |  | 28,668 |  |  | 14,839 |
Depreciation(b) | 19,005 |  |  | 1,082 |  |  | 9,992 |  |  | 8,926 |
Amortization of intangible assets(b) | — |  |  | — |  |  | 4,975 |  |  | 16,344 |
______________________ (a)Other operating expenses primarily consists of office rent, business software, travel, indirect taxes, and professional fees. (b)Expense is a non-cash item and excluded from the profitability measure of Adjusted Operating Income.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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