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

Full Year 2025 Highlights

* 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: 1-855-883-1031

Hong Kong: 800-930-639

Passcode: 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 Relations

Phone: +852-3157-1669

Email: [email protected]

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: [email protected]

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

2024

2025

2024

2025

RMB

US$

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

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

369,312,997

332,356,281

Diluted

355,325,921

330,556,192

373,591,974

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

2024

2025

2024

2025

RMB

US$

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

2024

2025

2024

2025

RMB

US$

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

2024

2025

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

2024

2025

2024

2025

RMB

US$

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

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

(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

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

196

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

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)

Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income (loss) to comparable GAAP measures.

Three months

Ended December 31, 2024

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

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)

Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income (loss) to comparable GAAP measures-continued.

Year

Ended December 31, 2024

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

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.

SOURCE Hello Group Inc.