Company: MTCH
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000891103-25-000076
Chunk: 76

Company: Match Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 76
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 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)General and administrative expense$111,520 $5,279 5%$106,241 Percentage of revenue13%12%

General and administrative expense increased primarily due to an increase in employee compensation of $5.0 million predominately related to severance and other employee compensation related costs in 2025 and increases at Hinge due to increased payroll taxes associated with stock-based compensation. Additionally, stock-based compensation increased $2.8 million mainly as a result of the CEO transition and higher stock-based awards granted in the current year at Hinge, partially offset by decreases at E&E and MG Asia. Partially offsetting these net increases was a decrease in non-income taxes of $2.7 million at MG Asia.

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Product development 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)Product development expense$120,854 $5,117 4%$115,737 Percentage of revenue15%13%

Product development expense increased primarily due to an increase in stock-based compensation expense of $3.8 million primarily at Tinder and Hinge, partially offset by decreases at MG Asia.

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)Depreciation$21,729 $1,208 6%$20,521 Percentage of revenue3%2%

Depreciation was higher in 2025 compared to 2024 primarily due to internally developed software at E&E and Tinder, partially offset by decreases at MG Asia primarily related to the shutdown of the Hakuna app in 2024.

Amortization of intangibles

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)Amortization of intangibles$10,478 $111 1%$10,