Company: MTCH
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000891103-25-000180
Chunk: 57

Company: Match Group, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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.7 million primarily within Corporate and Unallocated Costs and E&E. Partially offsetting these increases was a decrease in non-cash compensation of $7.1 million primarily within E&E related to adjustments for certain performance award estimates and reductions in headcount.

36

Product development expense

For the three months ended September 30, 2025 compared to the three months ended September 30, 2024

Three Months Ended September 30,2025$ Change% Change2024(Dollars in thousands)Product development expense$104,969 $1,245 1%$103,724 Percentage of revenue11%12%

Product development expense remained relatively flat as compared to the prior period due to an increase of $2.9 million in stock-based compensation expense mainly at Hinge, partially offset by decreases in employee compensation at Tinder and MG Asia due to decreased headcount. 

For the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

Nine Months Ended September 30,2025$ Change% Change2024(Dollars in thousands)Product development expense$340,334 $7,297 2%$333,037 Percentage of revenue13%13%

Product development expense increased primarily due to severance expense of $9.4 million in 2025 primarily at Tinder and E&E, and an increase in other operating expenses related to increases in software subscriptions primarily at Tinder and Hinge.

Depreciation

For the three months ended September 30, 2025 compared to the three months ended September 30, 2024

Three Months Ended September 30,2025$ Change% Change2024(Dollars in thousands)Depreciation$14,845 $(10,457)(41)%$25,302 Percentage of revenue2%3%

Depreciation was lower in 2025 compared to 2024 primarily due to (i) a decrease in depreciation of internally developed software at Tinder as certain assets became fully depreciated during the period and (ii) the write off of internally developed software associated with our live streaming services in 2024.

For the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

Nine Months Ended September 30,2025$ Change% Change2024(Dollars in thousands)Depreciation$54,635 $(12,280)(18)%$66,915 Percentage