Slide 1: Q2 2025 Supplemental Materials
Q2 2025 Supplemental Materials August 5, 2025
Slide 2: Disclosures and Definitions
Disclosures and Definitions Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures in addition to financial measures presented in accordance with U.S. GAAP. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of finan
Slide 3: Q2 2025 Business Performance Snapshot
Q2 2025 Business Performance Snapshot
Slide 4: Q2 2025 Business Performance
Q2 2025 Business Performance 1 Evergreen & Emerging MG Asia Direct $845.5 0% Y/Y $461.2 (4)% Y/Y $167.5 +25% Y/Y $147.9 (8)% Y/Y $68.9 (6)% Y/Y Revenue ($M) (2)% FXN (5)% FXN +24% FXN (10)% FXN (8)% FXN Payers (000s) 14,093 (5)% Y/Y 8,970 (7)% Y/Y 1,747 +18% Y/Y 2,309 (15)% Y/Y 1,067 +6% Y/Y RPP $20
Slide 5: Trended Financial Highlights
Trended Financial Highlights
Slide 6: Consolidated Total Revenue
Consolidated Total Revenue In $ Millions Y/Y Growth 4% 2% (1)% (3)% 0% Y/Y FXN Growth 8% 3% 1% (1)% (1)% 6
Slide 7: Consolidated Operating Income & Adjusted Operating Income
Consolidated Operating Income & Adjusted Operating Income Operating Income ($M) and Margin1 Adjusted Operating Income ($M) and Margin 1. Operating Income in Q3’24 includes $37 million of impairments of intangible assets and other charges related to the shutdown of Hakuna and other of our live stream
Slide 8: Consolidated Payers & RPP
Consolidated Payers & RPP Payers (M) RPP Y/Y Growth (5)% (3)% (4)% (5)% (5)% 9% 5% 3% 1% 5% 8
Slide 9: Tinder Trended Performance
Tinder Trended Performance Direct Revenue ($M) Payers (M) & RPP Operating Income ($M) and Margin Adj. Operating Income ($M) and Margin 9
Slide 10: Hinge Trended Performance
Hinge Trended Performance Direct Revenue ($M) Payers (M) & RPP Operating Income ($M) and Margin Adj. Operating Income ($M) and Margin 10
Slide 11: E&E Trended Performance
E&E Trended Performance Direct Revenue Ex-Live1 ($M) Payers (M) & RPP Operating Income ($M) and Margin2 Adj. Operating Income ($M) and Margin 1. Ex-Live excludes Direct Revenue associated with our live streaming services within E&E, which we shut down in Q3’24. 11 2. Operating Income in Q3’24 includ
Slide 12: MG Asia Trended Performance
MG Asia Trended Performance Direct Revenue Ex-Live1 ($M) Payers (K) & RPP Operating Income/(Loss) ($M) and Margin2 Adj. Operating Income ($M) and Margin 1. Ex-Live excludes Direct Revenue from Hakuna, which was shut down in Q3’24. 12 2. Operating Income in Q3’24 includes impairments of intangible as
Slide 13: Free Cash Flow
Free Cash Flow Free Cash Flow ($M) Quarterly FCF1 ($M) and FCF Conversion % FCF Conversion % 66% 70% 74% 1. Q2’24 FCF was impacted by the timing of Apple payments between quarters. 13
Slide 14: Capital Returns
Capital Returns Quarterly Capital Return Annual & LTM Capital Return 1 Diluted % of FCF 66% 85% 96% 273 267 260 256 249 Shares2 Note: Diluted shares outstanding is calculated using the methods and assumptions described in our press release; these are different from GAAP dilution, which is calculated
Slide 15: Leverage Ratios and Debt Maturity Schedule
Leverage Ratios and Debt Maturity Schedule Gross and Net Leverage1 Debt Maturity Schedule ($M)2 $575 $350 $575 $500 $500 $500 $500 $450 2025 2026 2027 2028 2029 2030 2031 Exchangeable Notes Senior Notes Revolver Gross Leverage (TTM) Net Leverage (TTM) 1. Leverage is calculated utilizing the non-GAAP
Slide 16: Appendix
Appendix
Slide 17: Trended Revenue Metrics
Trended Revenue Metrics 2023 2024 2025 Year Ended December 31, YTD Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 Revenue (in millions, rounding differences may occur) Direct Revenue: Tinder $ 441.1 $ 474.7 $ 508.5 $ 493.2 $ 481.5 $ 479.9 $ 503.2 $ 476.0 $ 447.4 $ 461.2 $ 1,917.6 $ 1,940.6 $ 908.6 Hin
Slide 18: Trended Profitability Metrics
Trended Profitability Metrics 2023 2024 2025 Year Ended December 31, YTD Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 Operating Income (Loss) (in millions, rounding differences may occur) Tinder $ 221.5 $ 239.6 $ 256.0 $ 238.5 $ 210.0 $ 218.5 $ 234.3 $ 226.3 $ 193.3 $ 217.0 $ 955.5 $ 889.2 $ 410.3 H
Slide 19: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended March 31, 2023 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Group (Dollars in thousands) Operating Income (Loss) $ 221,482 $ 12,873 $ 19,598 $ (1,86
Slide 20: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended June 30, 2023 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Group (Dollars in thousands) Operating Income (Loss) $ 239,567 $ 11,353 $ 24,125 $ 2,331
Slide 21: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended September 30, 2023 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Group (Dollars in thousands) Operating Income (Loss) $ 255,994 $ 23,180 $ 26,138 $ (
Slide 22: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income Three Months Ended December 31, 2023 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Group (Dollars in thousands) Operating Income (Loss) $ 238,476 $ 26,855 $ 12,599 $ (6,539) $
Slide 23: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended March 31, 2024 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Group (Dollars in thousands) Operating Income (Loss) $ 210,042 $ 18,505 $ 17,321 $ (7,66
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended June 30, 2024 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 218,530 $ 30,214 $ 19
Slide 25: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended September 30, 2024 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 234,304 $ 42,207
Slide 26: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended December 31, 2024 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 226,346 $ 30,556
Slide 27: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended March 31, 2025 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 193,348 $ 28,625 $ 6
Slide 28: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended June 30, 2025 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 216,968 $ 38,926 $ (4
Slide 29: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Year Ended December 31, 2023 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Group (Dollars in thousands) Operating Income (Loss) $ 955,519 $ 74,261 $ 82,460 $ (8,675) $
Slide 30: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Year Ended December 31, 2024 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 889,222 $ 121,482 $ 66,08
Slide 31: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Six Months Ended June 30, 2025 Corporate & unallocated Total Match Tinder Hinge E&E MG Asia costs Eliminations Group (Dollars in thousands) Operating Income (Loss) $ 410,316 $ 67,551 $ 2,28
Slide 32: Revenue to Non-GAAP Revenue, Excluding Foreign Exchange Effects
GAAP to Non-GAAP Reconciliations Reconciliation of GAAP Revenue to Non-GAAP Revenue, Excluding Foreign Exchange Effects Three Months Ended June 30, 2025 $ Change % Change 2024 (Dollars in millions, rounding differences may occur) Direct Revenue, as reported $ 845.5 $ (2.7) —% $ 848.1 Foreign exchang
Slide 33: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Reconciliation of GAAP Revenue to Non-GAAP Revenue, Excluding Foreign Exchange Effects Three Months Ended June 30, Three Months Ended September 30, 2025 $ Change % Change 2024 2024 $ Change % Change 2023 (Dollars in millions, rounding differences may occur) (Dollars
Slide 34: Net Cash Provided by Operating Activities to Free Cash Flow
GAAP to Non-GAAP Reconciliations Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow Years Ended December 31, 2023 2024 LTM Q2'25 (Dollars in thousands) Net cash provided by operating activities $ 896,791 $ 932,719 $ 956,610 Capital expenditures (67,412) (50,578) (48,970) F
Slide 35: to Adjusted Operating Income used in Leverage Ratios
GAAP to Non-GAAP Reconciliations Reconciliation of Operating Income to Adjusted Operating Income used in Leverage Ratios Years Ended December 31, 2023 2024 LTM Q2'25 (Dollars in thousands) Operating Income $ 916,896 $ 823,312 $ 800,562 Stock-based compensation expense 232,099 267,381 271,555 Depreci