Company: MTCH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000891103-25-000027
Chunk: 150

Company: Match Group, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 150
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%$1,128,736 

For a reconciliation of operating income to Adjusted Operating Income, see “Non-GAAP Financial Measures.”

For the year ended December 31, 2024 compared to the year ended December 31, 2023

Operating income decreased 10% or $93.6 million, and Adjusted Operating Income was relatively flat compared to 2023. Operating income and Adjusted Operated Income each benefited from the increase in revenue of $114.9 million, which was driven by growth at Hinge, offset by increased (i) cost of revenue, primarily due to increased in-app purchase fees as revenue at Hinge increased and as a result of returned escrow payments associated with the Google litigation in the prior year, (ii) selling and marketing expense, primarily due to increased cost of acquisition expense, (iii) general and administrative expense, primarily due to increased digital sales taxes, and (iv) product development expense, primarily due to increased employee compensation expense. Operating income was further impacted by increased (i) stock-based compensation expense of $35.3 million, primarily due to increased headcount within product development at Tinder and Hinge, (ii) impairments and amortization of intangible assets of $26.4 million, primarily related to impairments at MG Asia and E&E in 2024, and (iii) depreciation of $25.7 million, primarily related to internally developed software at Tinder, MG Asia, and E&E.

For the year ended December 31, 2023 compared to the year ended December 31, 2022

Operating income increased 78% or $401.9 million, and Adjusted Operating Income increased 11% or $129.8 million. Operating income and Adjusted Operated Income each benefited from the increase in revenue of $175.7 million which was driven by growth at Tinder and Hinge, and lower general and administrative expense primarily related to decreases in legal and other professional fees. That benefit was partially offset by increases in selling and marketing spend and an increase in product development expense primarily due to increased compensation expense. Operating income further benefited from decreases in impairments of intangible assets of $316.1 million, partially offset by increased stock-based compensation expense primarily due to new stock-based awards granted during the year.

43

At December 31, 2024, there was $359.8 million of unrecognized compensation cost, net of estimated forfeitures, related to all stock-based awards, which is expected to be recognized