Company: MTCH
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000891103-25-000076
Chunk: 50

Company: Match Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 March 31, 2025, there was $539.7 million of unrecognized compensation cost, net of estimated forfeitures, related to stock-based awards, which is expected to be recognized over a weighted average period of approximately 2.3 years.

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Interest expense

For the three months ended March 31, 2025 compared to the three months ended March 31, 2024

Three Months Ended March 31,2025$ Change% Change2024(Dollars in thousands)Interest expense$35,256 $(5,097)(13)%$40,353 

Interest expense decreased primarily due to the decrease in the outstanding balance of the Term Loan which was repaid in full in January 2025.

Other income, net 

For the three months ended March 31, 2025 compared to the three months ended March 31, 2024

Three Months Ended March 31,2025$ Change% Change2024(Dollars in thousands)Interest income$5,619 $(4,341)(44)%$9,960 Foreign currency losses(3,082)(2,552)482%(530)Other79 35 80%44 Other income, net$2,616 $(6,858)(72)%$9,474 

Income tax provision

For the three months ended March 31, 2025 compared to the three months ended March 31, 2024

Three Months Ended March 31,2025$ Change% Change2024(Dollars in thousands)Income tax provision$22,382 $(8,243)(27)%$30,625 Effective income tax rate16%20%

In 2025, the effective tax rate of 16% is lower than the statutory rate primarily due to excess tax benefits generated by the exercise and vesting of stock-based awards, U.S. income derived from foreign sources, and research credits. These effects were partially offset by nondeductible stock-based compensation and state income taxes.

In 2024, the income tax provision of $30.6 million represents an effective tax rate of 20%. The effective tax

rate was lower than the statutory rate primarily due to the lower tax rate on U.S. income derived from foreign

sources and a benefit realized upon the conclusion of certain state income tax audits. These decreases were

partially offset by state income taxes, nondeductible stock compensation and unfavorable tax adjustments due

upon the vesting of certain stock