Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2025
BEIJING, March 18, 2026 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading player in Asia's online social networking space, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2025. Fourth Quarter of 2025 Highlights Net revenues decreased by 2.3% year over year to RMB2,575.8 million (US$368.3 million*) in the fourth quarter of 2025. Net revenues from overseas increased by 70.3% year over year to RMB608.2 million (US$87.0 million) in the fourth quarter of 2025. Net income attributable to Hello Group Inc. was RMB237.3 million (US$33.9 million) in the fourth quarter of 2025, compared to RMB187.2 million in the same period of 2024. Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB281.3 million (US$40.2 million) in the fourth quarter of 2025, compared to RMB230.5 million in the same period of 2024. Diluted net income per American Depositary Share ("ADS") was RMB1.44 (US$0.21) in the fourth quarter of 2025, compared to RMB1.05 in the same period of 2024. Non-GAAP diluted net income per ADS (note 1) was RMB1.70 (US$0.24) in the fourth quarter of 2025, compared to RMB1.30 in the same period of 2024. For the Momo app total paying users was 3.9 million for the fourth quarter of 2025, compared to 5.7 million for the same period last year, and 3.7 million from last quarter. Tantan had 0.6 million paying users for the fourth quarter of 2025 compared to 0.9 million from the year ago period and 0.7 million from last quarter. Full Year 2025 Highlights Net revenues decreased by 1.9% year over year to RMB10,367.1 million (US$1,482.5 million) for the full year of 2025. Net revenues from overseas increased by 70.8% year over year to RMB2,000.0 million (US$286.0 million) for the full year of 2025. Net income attributable to Hello Group Inc. was RMB804.0 million (US$115.0 million) for the full year of 2025, compared to RMB1,039.6 million during the same period of 2024. Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB993.5 million (US$142.1 million) for the full year of 2025, compared to RMB1,232.9 million during the same period of 2024. Diluted net income per ADS was RMB4.75 (US$0.68) for the full year of 2025, compared to RMB5.57 during the same period of 2024. Non-GAAP diluted net income per ADS (note 1) was RMB5.87 (US$0.84) for the full year of 2025, compared to RMB6.60 during the same period of 2024. * This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rate solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB 6.9931 to US$1.00, the effective noon buying rate for December 31, 2025 as set forth in the H.10 statistical release of the Federal Reserve Board. "In the second half of 2025, our domestic business faced fresh external headwinds. That said, through the team's agile response and strong execution, we maintained stable performance of our cash-cow business while sustaining a healthy ecosystem." commented Yan Tang, Chairman and CEO of Hello Group. "Our overseas business has posted exceptional results over the past year, fueled by organic product incubation and targeted mergers and acquisitions. This has enabled us to diversify and enrich our brand portfolio while rapidly expanding our global presence, resulting in accelerated overseas revenue momentum. The overseas business has now solidified as an important revenue contributor for the Group and stands as the key engine for our future overall growth." Fourth Quarter of 2025 Financial Results Net revenues Total net revenues were RMB2,575.8 million (US$368.3 million) in the fourth quarter of 2025, a decrease of 2.3% from RMB2,636.5 million in the fourth quarter of 2024. Value-added service revenues mainly include virtual gift revenues from various audio, video and text- based scenarios, and membership subscription revenues. Total value-added service revenues were RMB2,533.1 million (US$362.2 million) in the fourth quarter of 2025, a decrease of 2.3% from RMB2,591.6 million during the same period of 2024. The decrease was primarily due to external factors that influenced the operational focus of certain broadcasters and agencies as well as the weak consumer sentiment on Momo app, and to a lesser extent, the decline in Tantan resulting from a decline in user base. The decrease was largely offset by the revenue growth from our overseas apps, driven by the rapid expansion from multiple social entertainment and dating brands across our rich portfolio. Other services revenues were RMB42.7 million (US$6.1 million) in the fourth quarter of 2025, compared to RMB44.9 million during the same period of 2024. Net revenues from Chinese mainland decreased from RMB2,279.4 million in the fourth quarter of 2024 to RMB1,967.6 million (US$281.4 million) in the fourth quarter of 2025, primarily due to the decrease in net revenues from Momo app and Tantan app. Net revenues from overseas increased from RMB357.1 million in the fourth quarter of 2024 to RMB608.2 million (US$87.0 million) in the fourth quarter of 2025, driven by the growth of audio- and video-based products in the Middle East and North Africa("MENA") region, primarily by the new apps, along with incremental revenue from dating brands outside of MENA. Cost and expenses Cost and expenses were RMB2,278.4 million (US$325.8 million) in the fourth quarter of 2025, a decrease of 5.4% from RMB2,407.8 million in the fourth quarter of 2024. The decrease was primarily attributable to: (a) a RMB94.1 million in production costs incurred in connection with films in the fourth quarter of 2024, and (b) a decrease in revenue sharing with broadcasters on Momo apps, partially offset by an increased revenue sharing with virtual gift recipients on overseas apps. Non-GAAP cost and expenses (note 1) were RMB2,231.4 million (US$319.1 million) in the fourth quarter of 2025, compared to RMB2,364.6 million during the same period of 2024. Income from operations Income from operations was RMB307.1 million (US$43.9 million) in the fourth quarter of 2025, compared to RMB236.7 million during the same period of 2024. Non-GAAP income from operations (note 1) was RMB354.1 million (US$50.6 million) in the fourth quarter of 2025, compared to RMB279.9 million during the same period of 2024. Income tax expenses Income tax expenses were RMB68.9 million (US$9.9 million) in the fourth quarter of 2025, compared to RMB89.5 million in the fourth quarter of 2024. Net income Net income was RMB237.8 million (US$34.0 million) in the fourth quarter of 2025, compared to RMB187.2 million during the same period of 2024. Non-GAAP net income (note 1) was RMB281.8 million (US$40.3 million) in the fourth quarter of 2025, compared to RMB230.5 million during the same period of 2024. Net income attributable to Hello Group Inc. Net income attributable to Hello Group Inc. was RMB237.3 million (US$33.9 million) in the fourth quarter of 2025, compared to RMB187.2 million during the same period of 2024. Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB281.3 million (US$40.2 million) in the fourth quarter of 2025, compared to RMB230.5 million during the same period of 2024. Net income per ADS Diluted net income per ADS was RMB1.44 (US$0.21) in the fourth quarter of 2025, compared to RMB1.05 in the fourth quarter of 2024. Non-GAAP diluted net income per ADS (note 1) was RMB1.70 (US$0.24) in the fourth quarter of 2025, compared to RMB1.30 in the fourth quarter of 2024. Cash and cash flow As of December 31, 2025, the Company's cash, cash equivalents, short-term deposits, long-term deposits, short-term investments, short-term restricted cash and long-term restricted cash totaled RMB8,677.6 million (US$1,240.9 million), compared to RMB14,728.5 million as of December 31, 2024. The decrease in cash was primarily driven by bank loan repayments, the distribution of a special cash dividend, settlement of withholding tax accrued for prior periods, certain acquisitions and investments, and payment under the company's Share Repurchase Program. Net cash provided by operating activities in the fourth quarter of 2025 was RMB549.7 million (US$78.6 million), compared to RMB423.6 million in the fourth quarter of 2024. Full Year 2025 Financial Results Net revenues for the full year of 2025 were RMB10,367.1 million (US$1,482.5 million), a decrease of 1.9% from RMB10,563.0 million in the same period of 2024. Net income attributable to Hello Group Inc. was RMB804.0 million (US$115.0 million) for the full year of 2025, compared to RMB1,039.6 million during the same period of 2024. Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB993.5 million (US$142.1 million) for the full year of 2025, compared to RMB1,232.9 million during the same period of 2024. Diluted net income per ADS was RMB4.75 (US$0.68) during the full year of 2025, compared to RMB5.57 in the same period of 2024. Non-GAAP diluted net income per ADS (note 1) was RMB5.87 (US$0.84) during the f full year of 2025, compared to RMB6.60 in the same period of 2024. Net cash provided by operating activities was RMB1,183.1 million (US$169.2 million) during the full year of 2025, compared to RMB1,640.0 million in the same period of 2024. Recent Development Declaration of a special cash dividend Hello Group's board of directors has declared a special cash dividend in the amount of US$0.28 per ADS, or US$0.14 per ordinary share. The cash dividend will be paid on April 30, 2026 to shareholders of record at the close of business on April 10, 2026. The ex-dividend date will be April 10, 2026. The aggregate amount of cash dividends to be paid is approximately US$42.6 million, which will be funded by available cash on the Company's balance sheet. Share repurchase program As of March 18, 2026, the Company has repurchased 60.3 million ADSs for US$378.9 million on the open market under the Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024 and March 12, 2025, at an average purchase price of US$6.26 per ADS. The remaining size of the program is US$107.2 million. Business Outlook For the first quarter of 2026, the Company expects total net revenues to be between RMB2.3 billion to RMB2.4 billion, representing a decrease of 8.8% to 4.8% year over year. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Note 1: Non-GAAP measures To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("GAAP"), we, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation, amortization of intangible assets from business acquisitions and tax impacts related to the amortization of intangible assets from business acquisitions. Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures. Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. Our non-GAAP information (including non-GAAP cost and operating expenses, income from operations, net income, net income attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation, amortization of intangible assets from business acquisitions, and tax impacts related to the amortization of intangible assets from business acquisitions. A limitation of using these non-GAAP financial measures is that share-based compensation, amortization of intangible assets from business acquisitions and tax impacts related to the amortization of intangible assets from business acquisitions have been and will continue to be for the foreseeable future significant recurring expenses in our results of operations. We compensate for such limitation by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release. Conference Call Hello Group's management will host an earnings conference call on Wednesday, March 18, 2026, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on March 18, 2026). Participants can register for the conference call by navigating to: https://s1.c-conf.com/diamondpass/10053257-1s7egv.html. Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. A telephone replay of the call will be available after the conclusion of the conference call through March 27, 2026. The dial-in details for the replay are as follows: U.S. / Canada: 1-855-883-1031Hong Kong: 800-930-639Passcode: 10053257 Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group's website at https://ir.hellogroup.com. About Hello Group Inc. We are a leading player in Asia's online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, and Duidui, which target more niche markets and more selective demographics. For investor and media inquiries, please contact: Hello Group Inc. Investor RelationsPhone: +852-3157-1669Email: ir@hellogroup.com Christensen In ChinaMs. Xiaoyan SuPhone: +86-10-5900-1548E-mail: Xiaoyan.Su@christensencomms.com Safe Harbor Statement This news release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management quotes, our financial outlook for the first quarter of 2026, as well as the amount of, timing, methods and funding sources for repurchases of our shares under the share repurchase program. Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the fourth quarter of 2025 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the first quarter of 2026 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. Moreover, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company's cash flows from operations, general economic conditions, and other factors. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release. Hello Group Inc. Unaudited Condensed Consolidated Statement of Operations (All amounts in thousands, except share and per share data) Three months Year Ended December 31 Ended December 31 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Net revenues(i): Value-added service 2,591,615 2,533,104 362,229 10,415,580 10,213,654 1,460,533 Other services 44,881 42,665 6,101 147,391 153,442 21,942 Total net revenues 2,636,496 2,575,769 368,330 10,562,971 10,367,096 1,482,475 Cost and expenses: Cost of revenues (1,724,821) (1,611,502) (230,442) (6,447,341) (6,446,619) (921,854) Research and development (222,684) (216,558) (30,967) (804,425) (779,449) (111,460) Sales and marketing (316,699) (348,299) (49,806) (1,329,780) (1,368,658) (195,715) General and administrative (143,621) (102,051) (14,593) (507,658) (455,393) (65,120) Total cost and expenses (2,407,825) (2,278,410) (325,808) (9,089,204) (9,050,119) (1,294,149) Other operating income, net 8,015 9,697 1,387 59,003 37,586 5,375 Income from operations 236,686 307,056 43,909 1,532,770 1,354,563 193,701 Interest income 124,045 58,306 8,338 510,964 374,466 53,548 Interest expense (36,846) (29) (4) (127,846) (72,438) (10,358) Other gain or loss, net (46,639) 3,902 558 (90,509) 5,682 813 Income before income tax and share of (loss) income on equity method investments 277,246 369,235 52,801 1,825,379 1,662,273 237,704 Income tax expenses (89,497) (68,943) (9,859) (845,022) (842,869) (120,529) Income before share of (loss) income on equity method investments 187,749 300,292 42,942 980,357 819,404 117,175 Share of (loss) income on equity method investments (514) (62,458) (8,931) 59,216 (12,879) (1,842) Net income 187,235 237,834 34,011 1,039,573 806,525 115,333 Less: net income attributable to non-controlling interest - 499 71 - 2,512 359 Net income attributable to the shareholders of Hello Group Inc. 187,235 237,335 33,940 1,039,573 804,013 114,974 Net income per share attributable to ordinary shareholders Basic 0.54 0.73 0.1 2.81 2.42 0.35 Diluted 0.53 0.72 0.1 2.78 2.37 0.34 Weighted average shares used in calculating net income per ordinary share Basic 349,401,183 324,712,989 324,712,989 369,312,997 332,356,281 332,356,281 Diluted 355,325,921 330,556,192 330,556,192 373,591,974 338,597,079 338,597,079 (i) The following table presents revenues by geographic area based on the addresses of our customers of our users: Three months Year Ended December 31 Ended December 31 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Chinese mainland 2,279,440 1,967,582 281,360 9,392,079 8,367,094 1,196,479 Overseas 357,056 608,187 86,970 1,170,892 2,000,002 285,996 Total 2,636,496 2,575,769 368,330 10,562,971 10,367,096 1,482,475 Hello Group Inc. Unaudited Condensed Consolidated Statement of Comprehensive Income (All amounts in thousands, except share and per share data) Three months Year Ended December 31 Ended December 31 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Net income 187,235 237,834 34,011 1,039,573 806,525 115,333 Other comprehensive income (loss), net of tax: Foreign currency translation adjustment 322,935 (89,088) (12,739) 132,248 (245,615) (35,122) Comprehensive income 510,170 148,746 21,272 1,171,821 560,910 80,211 Less: comprehensive income (loss) attributed to the non-controlling interest 7,225 (4,689) (671) 5,111 (7,505) (1,073) Comprehensive income attributable to Hello Group Inc. 502,945 153,435 21,943 1,166,710 568,415 81,284 Hello Group Inc. Unaudited Condensed Consolidated Balance Sheets (All amounts in thousands, except share and per share data) December 31 December 31 December 31 2024 2025 2025 RMB RMB US$ Assets Current assets Cash and cash equivalents 4,122,659 5,320,022 760,753 Short-term deposits 2,026,245 3,112,207 445,040 Restricted cash 4,566,477 120,612 17,247 Short-term investment - 124,713 17,834 Accounts receivable, net of allowance for credit losses of RMB12,433 and RMB18,623 as of December 31, 2024 and 2025, respectively 192,317 246,208 35,207 Amounts due from related parties - 21,751 3,110 Prepaid expenses and other current assets 1,104,172 791,317 113,157 Total current assets 12,011,870 9,736,830 1,392,348 Long-term deposits 3,059,860 - - Long-term restricted cash 953,285 - - Right-of-use assets, net 252,169 118,799 16,988 Property and equipment, net 897,036 1,420,030 203,062 Intangible assets, net 86,661 240,716 34,422 Rental deposits 13,280 3,585 513 Long-term investments 825,533 1,514,042 216,505 Other non-current assets 110,960 114,384 16,357 Deferred tax assets 36,066 34,614 4,950 Goodwill 136,250 596,299 85,270 Total assets 18,382,970 13,779,299 1,970,415 Liabilities and equity Current liabilities Accounts payable 615,254 584,557 83,593 Deferred revenue 427,702 468,221 66,955 Accrued expenses and other current liabilities 704,410 848,679 121,359 Lease liabilities due within one year 141,971 83,590 11,953 Income tax payable 157,057 44,787 6,404 Deferred consideration in connection with business acquisitions-current 28,027 47,839 6,841 Convertible Senior Notes-current 20,191 - - Long-term borrowings, current portion 1,938,385 2,118 303 Short-term borrowings 2,365,535 - - Total current liabilities 6,398,532 2,079,791 297,408 Deferred consideration in connection with business acquisitions-non current 65,694 - - Lease liabilities 115,105 39,986 5,718 Deferred tax liabilities 241,915 531,996 76,074 Long-term borrowings - 3,133 448 Other non-current liabilities 129,051 39,605 5,663 Total liabilities 6,950,297 2,694,511 385,311 Shareholder's equity (ii) 11,432,673 11,084,788 1,585,104 Total liabilities and shareholder's equity 18,382,970 13,779,299 1,970,415 (ii): As of December 31, 2025, the number of ordinary shares outstanding was 303,566,956. Hello Group Inc. Unaudited Condensed Consolidated Statement of Cash Flows (All amounts in thousands, except share and per share data) Three months Year Ended December 31 Ended December 31 2024 2025 2025 2024 2025 2025 RMB RMB US$ RMB RMB US$ Cash flows from operating activities: Net income 187,235 237,834 34,011 1,039,573 806,525 115,333 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation of property and equipment 11,868 9,563 1,367 52,847 43,040 6,155 Amortization of intangible assets 2,049 14,853 2,124 5,886 38,775 5,545 Share-based compensation 42,493 33,434 4,781 192,572 162,745 23,273 Share of loss (income) on equity method investments 514 62,458 8,931 (59,216) 12,879 1,842 Gain or loss on fair value changes of short-term investments - (3,902) (558) - (5,722) (819) Returns on investments 730 - - 1,927 797 114 Loss on long-term investments 46,639 - - 90,509 40 6 Gain or loss on disposal of property and equipment - (126) (18) (62) (465) (66) Provision of (income) loss on receivable and other assets (57) 1,008 144 3,618 6,893 986 Changes in operating assets and liabilities: Accounts receivable (4,347) (380) (54) 7,605 (24,031) (3,436) Prepaid expenses and other current assets 27,035 43,467 6,216 (64,811) 110,876 15,855 Amounts due from related parties - (291) (42) - (291) (42) Rental deposits - 213 30 (309) 11,375 1,627 Deferred tax assets (128) (892) (128) (4,323) 1,369 196 Other non-current assets 101,561 37,285 5,332 (81,837) 150,978 21,590 Accounts payable 8,139 33,181 4,745 (7,571) (37,788) (5,404) Income tax payable 63,625 25,373 3,628 62,337 (112,568) (16,097) Deferred revenue (26,219) (3,565) (510) (25,651) 17,452 2,496 Accrued expenses and other current liabilities 78,250 66,599 9,524 139,607 (136,112) (19,464) Deferred tax liabilities (81,498) 21,325 3,049 212,835 235,554 33,684 Other non-current liabilities (34,247) (27,725) (3,965) 74,458 (99,212) (14,187) Net cash provided by operating activities 423,642 549,712 78,607 1,639,994 1,183,109 169,187 Cash flows from investing activities: Purchase of property and equipment (21,727) (320,178) (45,785) (285,541) (492,517) (70,429) Payment for long-term investments (35,959) (39,969) (5,715) (69,209) (482,259) (68,962) Payment for business acquisition (136,642) (27,109) (3,877) (136,642) (633,877) (90,643) Purchase of term deposits - (46,993) (6,720) (2,851,946) (2,592,723) (370,754) Cash received on maturity of term deposits 1,247,165 1,443,669 206,442 3,047,041 4,536,981 648,780 Payment for short-term investments - (104,382) (14,926) - (122,396) (17,502) Cash received from sales of long-term investment - - - 2,000 - - Returns of investments 120 - - 120 1,145 164 Loan to a third-party company (168,933) (3,521) (503) (265,613) (47,735) (6,826) Loan to a related party - (3,000) (429) - (3,000) (429) Other investing activities 8 196 28 903 851 122 Net cash provided by (used in) investing activities 884,032 898,713 128,515 (558,887) 164,470 23,521 Cash flows from financing activities: Proceeds from exercise of share options 1 - - 18 5 1 Repurchase of ordinary shares (425,176) (304,098) (43,485) (1,197,439) (749,983) (107,246) Deferred payment for business acquisition - - - - (17,132) (2,450) Dividends payment - - - (716,302) (346,182) (49,503) Payment in relation to redemption of convertible bonds - - - - (20,221) (2,892) Proceeds from short-term borrowings - - - 2,365,535 - - Repayment of short-term borrowings - - - - (2,365,535) (338,267) Repayment of long-term borrowings - (586) (84) (215,615) (1,940,122) (277,434) Net cash (used in) provided by financing activities (425,175) (304,684) (43,569) 236,197 (5,439,170) (777,791) Effect of exchange rate changes 172,439 (19,585) (2,801) 42,205 (110,196) (15,765) Net increase (decrease) in cash and cash equivalents 1,054,938 1,124,156 160,752 1,359,509 (4,201,787) (600,848) Cash, cash equivalents and restricted cash at the beginning of period 8,587,483 4,316,478 617,248 8,282,912 9,642,421 1,378,848 Cash, cash equivalents and restricted cash at the end of period 9,642,421 5,440,634 778,000 9,642,421 5,440,634 778,000 Hello Group Inc. Reconciliation of Non-GAAP financial measures to comparable GAAP measures (All amounts in thousands, except per share data) 1. Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income (loss) to comparable GAAP measures. Three months Three months Three months Ended December 31, 2024 Ended December 31, 2025 Ended December 31, 2025 GAAP Amortization of intangible assets from business acquisitions Share-based compensation Non-GAAP GAAP Amortization of intangible assets from business acquisitions Share-based compensation Tax impacts(iii) Non-GAAP GAAP Amortization of intangible assets from business acquisitions Share-based compensation Tax impacts(iii) Non-GAAP RMB RMB RMB RMB RMB RMB RMB RMB RMB US$ US$ US$ US$ US$ Cost of revenues (1,724,821) 128 1,822 (1,722,871) (1,611,502) 6,840 2,752 - (1,601,910) (230,442) 978 394 - (229,070) Research and development (222,684) 120 10,198 (212,366) (216,558) 1,727 10,926 - (203,905) (30,967) 247 1,562 - (29,158) Sales and marketing (316,699) 521 4,480 (311,698) (348,299) 5,006 3,418 - (339,875) (49,806) 716 489 - (48,601) General and administrative (143,621) - 25,993 (117,628) (102,051) - 16,338 - (85,713) (14,593) - 2,336 - (12,257) Cost and operating expenses (2,407,825) 769 42,493 (2,364,563) (2,278,410) 13,573 33,434 - (2,231,403) (325,808) 1,941 4,781 - (319,086) Income from operations 236,686 769 42,493 279,948 307,056 13,573 33,434 - 354,063 43,909 1,941 4,781 - 50,631 Net income attributable to Hello Group Inc. 187,235 769 42,493 230,497 237,335 13,573 33,434 (3,030) 281,312 33,940 1,941 4,781 (433) 40,229 Hello Group Inc. Reconciliation of Non-GAAP financial measures to comparable GAAP measures (All amounts in thousands, except per share data) 1. Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income (loss) to comparable GAAP measures-continued. Year Year Year Ended December 31, 2024 Ended December 31, 2025 Ended December 31, 2025 GAAP Amortization of intangible assetsfrom business acquisitions Share-based compensation Non-GAAP GAAP Amortization ofintangible assetsfrom business acquisitions Share-based compensation Tax impacts(iii) Non-GAAP GAAP Amortization ofintangible assetsfrom business acquisitions Share-based compensation Tax impacts(iii) Non-GAAP RMB RMB RMB RMB RMB RMB RMB RMB RMB US$ US$ US$ US$ US$ Cost of revenues (6,447,341) 128 7,643 (6,439,570) (6,446,619) 13,345 8,406 - (6,424,868) (921,854) 1,908 1,202 - (918,744) Research and development (804,425) 120 43,526 (760,779) (779,449) 5,061 41,998 - (732,390) (111,460) 724 6,006 - (104,730) Sales and marketing (1,329,780) 521 19,520 (1,309,739) (1,368,658) 15,252 15,874 - (1,337,532) (195,715) 2,181 2,270 - (191,264) General and administrative (507,658) - 121,883 (385,775) (455,393) - 96,467 - (358,926) (65,120) - 13,795 - (51,325) Cost and operating expenses (9,089,204) 769 192,572 (8,895,863) (9,050,119) 33,658 162,745 - (8,853,716) (1,294,149) 4,813 23,273 - (1,266,063) Income from operations 1,532,770 769 192,572 1,726,111 1,354,563 33,658 162,745 - 1,550,966 193,701 4,813 23,273 - 221,787 Net income attributable to Hello Group Inc. 1,039,573 769 192,572 1,232,914 804,013 33,658 162,745 (6,872) 993,544 114,974 4,813 23,273 (983) 142,077 (iii) Includes tax impacts related to the amortization of intangible assets from business acquisition. There is no tax impact related to share-based compensation.
2026-03-18