Company: MTCH
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000891103-25-000076
Chunk: 47

Company: Match Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 and RPP increased 3% over 2024 as a result of pricing optimizations.

E&E Direct Revenue declined 12% in 2025 versus 2024. Within E&E, Evergreen brands declined 15% partially due to our decision to terminate certain live streaming services in the second half of 2024, while Emerging brands grew 3%. The overall decline at E&E was driven by a decline in Payers of 16% compared to 2024, partially offset by increased RPP of 5%.

MG Asia Direct Revenue declined $7.8 million, or 11%, in 2025 versus 2024. Excluding revenue from Hakuna, which was shut down in the third quarter of 2024, MG Asia revenue declined $1.2 million, or 2%. Revenue was also negatively impacted by the strength of the U.S. dollar compared to the Turkish Lira and Japanese Yen.

29

Indirect Revenue increased primarily due to higher rates per ad impression in addition to higher ad impressions compared to 2024 driven by increased spend by our larger advertiser customers.

Cost of revenue (exclusive of depreciation)

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)Cost of revenue$236,908 $(19,834)(8)%$256,742 Percentage of revenue29%30%

Cost of revenue decreased 8% primarily due to a decrease in Variable Expenses of $9.2 million predominately at E&E and MG Asia as a result of the termination of certain of our live streaming services and the Hakuna app in the second half of 2024 as well as a decrease in in-app purchase fees of $8.0 million.

Selling and marketing expense

For the three months ended March 31, 2025 compared to the three months ended March 31, 2024Three Months Ended March 31,2025$ Change% Change2024(Dollars in thousands)Selling and marketing expense$157,096 $(8,205)(5)%$165,301 Percentage of revenue19%19%

Selling and marketing expense decreased 5% primarily due to lower cost of acquisition expense of $9.3 million predominately at Tinder and MG Asia.

General and administrative expense

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