Hello Group Inc. Announces Unaudited Financial Results for the Fourth Quarter and Fiscal Year 2024

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BEIJING, March 12, 2025 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading player in mainland China's online social networking space, today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2024.  

Fourth Quarter of 2024 Highlights

  • Net revenues decreased by 12.2% year over year to RMB2,636.5 million (US$361.2 million*) in the fourth quarter of 2024.
  • Net income attributable to Hello Group Inc. decreased to RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, from RMB452.5 million in the same period of 2023.
  • Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, from RMB514.7 million in the same period of 2023.
  • Diluted net income per American Depositary Share ("ADS") was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the same period of 2023.
  • Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the same period of 2023.
  • Monthly Active Users ("MAU") on Tantan app were 10.8 million in December 2024, compared to 13.7 million in December 2023.
  • For the Momo app total paying users was 5.7 million for the fourth quarter of 2024, compared to 7.4 million for the same period last year. Tantan had 0.9 million paying users for the fourth quarter of 2024 compared to 1.2 million from the year ago period.

Full Year 2024 Highlights

  • Net revenues decreased by 12.0% year over year to RMB10,563.0 million (US$1,447.1 million) for the full year of 2024.
  • Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023.
  • Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023.
  • Diluted net income per ADS was RMB5.57(US$0.76) for the full year of 2024, compared to RMB9.84 during the same period of 2023.
  • Non-GAAP diluted net income per ADS (note 1) was RMB6.60(US$0.90) for the full year of 2024, compared to RMB11.17 during the same period of 2023.

"2024 was a year fraught with challenges and opportunities. Our team maneuvered through external uncertainties well and delivered satisfactory financial and operational results." commented Yan Tang, Chairman and CEO of Hello Group. "Momo cash cow business continues to be productive, with an ecosystem that is healthier in comparison to the previous year. Our overseas business maintained its robust growth momentum and made more meaningful contributions to the group's financial standing. This impels us to take bolder measures to propel growth and innovation in international markets in the future."

* This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rate solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB7.2993 to US$1.00, the effective noon buying rate for December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.

 

Fourth Quarter of 2024 Financial Results

Net revenues

Total net revenues were RMB2,636.5 million (US$361.2 million) in the fourth quarter of 2024, a decrease of 12.2% from RMB3,002.9 million in the fourth quarter of 2023.

Live video service revenues were RMB1,264.9 million (US$173.3 million) in the fourth quarter of 2024, a decrease of 17.0% from RMB1,523.9 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasize large scale competition events in the Momo app and a soft consumer sentiment in the current macro environment, and to a lesser degree, Tantan pivoting away from the less dating-centric live video service.

Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,326.8 million (US$181.8 million) in the fourth quarter of 2024, a decrease of 6.9% from RMB1,424.9 million during the same period of 2023. The decrease was primarily due to our product adjustments to improve Momo app's ecosystem as well as the impact of the macro economy on consumer sentiment, and to a lesser extent, the decline in Tantan's paying users which was in turn due to the decline in user base. The decrease was partially offset by the revenue growth from the new standalone apps.

Mobile marketing revenues were RMB43.6 million (US$6.0 million) in the fourth quarter of 2024, compared to RMB44.9 million during the same period of 2023.

Net revenues from the Momo segment decreased from RMB2,728.7 million in the fourth quarter of 2023 to RMB2,423.1 million (US$332.0 million) in the fourth quarter of 2024, primarily due to the decrease in net revenues from live video service and value-added service on Momo app. The decrease was partially offset by the revenue growth of the new standalone apps. Net revenues from the Tantan segment decreased from RMB272.2 million in the fourth quarter of 2023 to RMB213.4 million (US$29.2 million) in the fourth quarter of 2024, mainly due to the decrease in net revenues from live video service and value-added service.

Cost and expenses

Cost and expenses were RMB2,407.8 million (US$329.9 million) in the fourth quarter of 2024, a decrease of 1.0% from RMB2,431.8 million in the fourth quarter of 2023. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters related to live video service on Momo app and Tantan app, and a decrease in revenue sharing with virtual gift recipients of virtual gift service on Momo app. The decrease was partially offset by an increase in revenue sharing with virtual gift recipients for new standalone apps; and (b) a decrease in salary expenses and share-based compensation expenses, due to our continuous optimization in personnel costs and the newly granted share options which had lower fair value. The decrease was partially offset by an increase of RMB 94.1 million (US$12.9 million) in production costs in connection with films.

Non-GAAP cost and expenses (note 1) were RMB2,364.6 million (US$323.9 million) in the fourth quarter of 2024, compared to RMB2,369.5 million during the same period of 2023.

Other operating income, net

Other operating income was RMB8.0 million (US$1.1 million) in the fourth quarter of 2024, compared to RMB30.8 million during the fourth quarter of 2023. The decrease was primarily due to reduced government incentives and input VAT super deduction in the fourth quarter of 2024.

Income from operations

Income from operations was RMB236.7 million (US$32.4 million) in the fourth quarter of 2024, compared to RMB602.0 million during the same period of 2023. Income from operations of the Momo segment was RMB226.4 million (US$31.0 million) in the fourth quarter of 2024, which decreased from RMB576.9 million in the fourth quarter of 2023. Income from operations of the Tantan segment was RMB11.1 million (US$1.5 million) in the fourth quarter of 2024, which decreased from RMB26.8 million in the fourth quarter of 2023.

Non-GAAP income from operations (note 1) was RMB279.9 million (US$38.4 million) in the fourth quarter of 2024, compared to RMB664.2 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB269.4 million (US$36.9 million) in the fourth quarter of 2024, which decreased from RMB638.9 million in the fourth quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB11.4 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB27.0 million in the fourth quarter of 2023.  

Income tax expenses

Income tax expenses were RMB89.5 million (US$12.3 million) in the fourth quarter of 2024, compared to RMB183.4 million in the fourth quarter of 2023. The decrease in income tax expenses was primarily due to the lower profit in the third quarter of 2024, and to a lesser extent, lower withholding tax rate due to our eligibility for a preferential tax rate since the beginning of the year.

Net income

Net income was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023. Net income from the Momo segment was RMB176.3 million (US$24.2 million) in the fourth quarter of 2024, compared to RMB430.0 million in the same period of 2023. Net income from the Tantan segment was RMB11.8 million (US$1.6 million) in the fourth quarter of 2024, compared to RMB24.2 million in the fourth quarter of 2023.

Non-GAAP net income (note 1) was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB219.3 million (US$30.1 million) in the fourth quarter of 2024, which decreased from RMB492.1 million in the fourth quarter of 2023. Non-GAAP net income of the Tantan segment was RMB12.0 million (US$1.7 million) in the fourth quarter of 2024, compared to RMB24.4 million in the fourth quarter of 2023.

Net income attributable to Hello Group Inc.

Net income attributable to Hello Group Inc. was RMB187.2 million (US$25.6 million) in the fourth quarter of 2024, compared to RMB452.5 million during the same period of 2023.

Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB230.5 million (US$31.6 million) in the fourth quarter of 2024, compared to RMB514.7 million during the same period of 2023.

Net income per ADS

Diluted net income per ADS was RMB1.05 (US$0.14) in the fourth quarter of 2024, compared to RMB2.32 in the fourth quarter of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB1.30 (US$0.18) in the fourth quarter of 2024, compared to RMB2.63 in the fourth quarter of 2023.

Cash and cash flow

As of December 31, 2024, the Company's cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,728.5 million (US$2,017.8 million), compared to RMB13,478.5 million as of December 31, 2023.

Net cash provided by operating activities in the fourth quarter of 2024 was RMB423.6 million (US$58.0 million), compared to RMB415.9 million in the fourth quarter of 2023.

Full Year 2024 Financial Results

Net revenues for the full year of 2024 were RMB10,563.0 million (US$1,447.1 million), a decrease of 12.0% from RMB12,002.3 million in the same period of 2023.

Net income attributable to Hello Group Inc. was RMB1,039.6 million (US$142.4 million) for the full year of 2024, compared to RMB1,957.6 million during the same period of 2023.

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,232.9 million (US$168.9 million) for the full year of 2024, compared to RMB2,224.7 million during the same period of 2023.

Diluted net income per ADS was RMB5.57 (US$0.76) during the full year of 2024, compared to RMB9.84 in the same period of 2023.

Non-GAAP diluted net income per ADS (note 1) was RMB6.60 (US$0.90) during the full year of 2024, compared to RMB11.17 in the same period of 2023.

Net cash provided by operating activities was RMB1,640.0 million (US$224.7 million) during the full year of 2024, compared to RMB2,277.2 million in the same period of 2023.

Recent Development

Declaration of a special cash dividend

Hello Group's board of directors has declared a special cash dividend in the amount of US$0.30 per ADS, or US$0.15 per ordinary share. The cash dividend will be paid on April 30, 2025 to shareholders of record at the close of business on April 11, 2025. The ex-dividend date will be April 11, 2025. The aggregate amount of cash dividends to be paid is approximately US$50 million, which will be funded by available cash on the Company's balance sheet.

Share repurchase program

On June 7, 2022, Hello Group's board of directors authorized a share repurchase program under which the Company may repurchase up to US$200 million of its shares up to June 6, 2024 (the "Share Repurchase Program"). On March 14, 2024, Hello Group's board of directors approved to amend the Share Repurchase Program to (i) extend the term of the Share Repurchase Program up to June 30, 2026, and (ii) upsize the Share Repurchase Program to US$286.1 million. On March 12, 2025, Hello Group's board of directors approved an additional amendment to the Share Repurchase Program, to (i) extend the term of the Share Repurchase Program up to March 31, 2027, and (ii) upsize the Share Repurchase Program by another $200 million, so that the Company is authorized to, from time to time, acquire up to an aggregate of US$486.1 million worth of its shares in the form of ADSs and/or the ordinary shares of the Company in the open market and through privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. As of March 12, 2025, after the upsizing of the Share Repurchase Program, the remaining size of the program is US$222 million.

As of March 12, 2025, the Company has repurchased 43.5 million ADSs for US$264.0 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024, at an average purchase price of US$6.05 per ADS.

Business Outlook

For the first quarter of 2025, the Company expects total net revenues to be between RMB2.4 billion to RMB2.5 billion, representing a decrease of 6.3% to 2.4% year over year. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

Note 1: Non-GAAP measures

To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("GAAP"), we, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax.

Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures.

Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.

Our non-GAAP information (including non-GAAP cost and operating expenses, income from operations, net income, net income attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation and amortization of intangible assets from business acquisitions have been and will continue to be for the foreseeable future significant recurring expenses in our results of operations. We compensate for such limitation by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release.

Conference Call

Hello Group's management will host an earnings conference call on Wednesday, March 12, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on March 12, 2025).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10045617-nl4uc8.html.  

Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

A telephone replay of the call will be available after the conclusion of the conference call through March 19, 2025. The dial-in details for the replay are as follows:

U.S. / Canada: 1-855-883-1031

Hong Kong: 800-930-639

Passcode: 10045617

Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group's website at https://ir.hellogroup.com

About Hello Group Inc.

We are a leading player in mainland China's online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, and Duidui, which target more niche markets and more selective demographics.

For investor and media inquiries, please contact:

Hello Group Inc.

Investor Relations

Phone: +86-10-5731-0538

Email: ir@hellogroup.com 

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: Xiaoyan.Su@christensencomms.com 

In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: linda.bergkamp@christensencomms.com 

Safe Harbor Statement

This news release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management quotes, our financial outlook for the first quarter of 2025, as well as the amount of, timing, methods and funding sources for repurchases of our shares under the share repurchase program.

Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the fourth quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the first quarter of 2025 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth.  Moreover, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company's cash flows from operations, general economic conditions, and other factors.  For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission.

All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release.        

 

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Operations

(All amounts in thousands, except share and per share data)



Three months



Year



Ended December 31



Ended December 31





2023



2024



2024



2023



2024



2024





RMB



RMB



US$



RMB



RMB



US$



Net revenues:

























Live video service

1,523,885



1,264,851



173,284



6,072,871



5,092,854



697,718



Value-added service

1,424,893



1,326,764



181,766



5,752,571



5,322,726



729,210



Mobile marketing

44,915



43,630



5,977



133,677



142,950



19,584



Mobile games

5,441



-



-



19,610



432



59



Other services

3,798



1,251



171



23,594



4,009



550



Total net revenues

3,002,932



2,636,496



361,198



12,002,323



10,562,971



1,447,121



Cost and expenses:

























Cost of revenues

(1,770,117)



(1,724,821)



(236,300)



(7,025,394)



(6,447,341)



(883,282)



Research and development

(231,445)



(222,684)



(30,508)



(884,590)



(804,425)



(110,206)



Sales and marketing

(304,696)



(316,699)



(43,388)



(1,414,949)



(1,329,780)



(182,179)



General and administrative

(125,498)



(143,621)



(19,676)



(502,479)



(507,658)



(69,549)



Total cost and expenses

(2,431,756)



(2,407,825)



(329,872)



(9,827,412)



(9,089,204)



(1,245,216)



Other operating income, net

30,821



8,015



1,098



130,105



59,003



8,083



Income from operations

601,997



236,686



32,424



2,305,016



1,532,770



209,988



Interest income

124,354



124,045



16,994



436,253



510,964



70,002



Interest expense

(20,552)



(36,846)



(5,048)



(62,223)



(127,846)



(17,515)



Other gain or loss, net

(31,250)



(46,639)



(6,390)



(26,685)



(90,509)



(12,400)



Income before income tax and share of (loss) income on equity

method investments

674,549



277,246



37,980



2,652,361



1,825,379



250,075



Income tax expenses

(183,377)



(89,497)



(12,261)



(630,023)



(845,022)



(115,768)



Income before share of (loss) income on equity method

investments

491,172



187,749



25,719



2,022,338



980,357



134,307



Share of (loss) income on equity method investments

(38,703)



(514)



(70)



(70,643)



59,216



8,113



Net income

452,469



187,235



25,649



1,951,695



1,039,573



142,420



Less: net loss attributable to non-controlling interest

-



-



-



(5,886)



-



-



Net income attributable to the shareholders of Hello Group Inc.

452,469



187,235



25,649



1,957,581



1,039,573



142,420



Net income per share attributable to ordinary shareholders

























 Basic

1.20



0.54



0.07



5.18



2.81



0.39



  Diluted

1.16



0.53



0.07



4.92



2.78



0.38



Weighted average shares used in calculating net income per ordinary

share

























 Basic

376,317,036



349,401,183



349,401,183



377,639,399



369,312,997



369,312,997



  Diluted

390,956,175



355,325,921



355,325,921



401,833,328



373,591,974



373,591,974



 

 

 

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

(All amounts in thousands, except share and per share data)









Three months



Year



Ended December 31



Ended December 31





2023



2024



2024



2023



2024



2024





RMB



RMB



US$



RMB



RMB



US$



Net income

452,469



187,235



25,649



1,951,695



1,039,573



142,420



Other comprehensive (loss) income, net of tax:

























 Foreign currency translation adjustment

(95,774)



322,935



44,242



20,414



132,248



18,118



Comprehensive income

356,695



510,170



69,891



1,972,109



1,171,821



160,538



Less: comprehensive (loss) income attributed to the non-controlling

interest

(5,020)



7,225



990



357



5,111



700



Comprehensive income attributable to Hello Group Inc.

361,715



502,945



68,901



1,971,752



1,166,710



159,838



 

 

 

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands, except share and per share data)



December 31



December 31



December 31



2023



2024



2024

RMB

RMB



US$

Assets











Current assets











Cash and cash equivalents

5,620,466



4,122,659



564,802

Short-term deposits

1,270,626



2,026,245



277,594

Restricted cash

10,147



4,566,477



625,605

      Accounts receivable, net of allowance for doubtful accounts of 

      RMB12,780 and RMB12,433 as of December 31, 2023 and 2024,

      respectively

201,517



192,317



26,347

Amounts due from related parties

7,258



-



-

Prepaid expenses and other current assets

723,364



1,104,172



151,271

Total current assets

7,833,378



12,011,870



1,645,619

Long-term deposits

3,924,975



3,059,860



419,199

Long-term restricted cash

2,652,299



953,285



130,600

Right-of-use assets, net

109,572



252,169



34,547

Property and equipment, net

659,033



897,036



122,893

Intangible assets, net

17,086



86,661



11,873

Rental deposits

12,962



13,280



1,819

Long-term investments

786,911



825,533



113,098

Amounts due from RPT-non current

20,000



-



-

Other non-current assets

180,052



110,960



15,201

Deferred tax assets

31,741



36,066



4,941

Goodwill

-



136,250



18,666

Total assets

16,228,009



18,382,970



2,518,456

Liabilities and equity











Current liabilities











Accounts payable

616,681



615,254



84,288

Deferred revenue

442,805



427,702



58,595

Accrued expenses and other current liabilities

630,617



704,410



96,504

Amounts due to related parties

4,314



-



-

Lease liabilities due within one year

60,008



141,971



19,450

Income tax payable

94,719



157,057



21,517

Deferred consideration in connection with business acquisitions-current

27,261



28,027



3,840

Convertible Senior Notes-current

-



20,191



2,766

Long-term borrowings, current portion

215,615



1,938,385



265,558

Short-term borrowings

-



2,365,535



324,077

Total current liabilities

2,092,020



6,398,532



876,595

Deferred consideration in connection with business acquisitions-non

current

-



65,694



9,000

Lease liabilities

52,171



115,105



15,769

Deferred tax liabilities

24,987



241,915



33,142

Convertible Senior Notes

19,571



-



-

Long-term borrowings

1,938,385



-



-

Other non-current liabilities

114,085



129,051



17,680

Total liabilities

4,241,219



6,950,297



952,186

Shareholder's equity (i)

11,986,790



11,432,673



1,566,270

Total liabilities and shareholder's equity

16,228,009



18,382,970



2,518,456

 

(i): As of December 31, 2024, the number of ordinary shares outstanding was 328,185,708.

 

 

 

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

(All amounts in thousands, except share and per share data)



Three months



Year





Ended December 31



Ended December 31





2023



2024



2024



2023



2024



2024





RMB



RMB



US$



RMB



RMB



US$



 Cash flows from operating activities:

























Net income

452,469



187,235



25,649



1,951,695



1,039,573



142,420



Adjustments to reconcile net income to net cash provided by

operating activities:

























Depreciation of property and equipment

15,394



11,868



1,626



74,492



52,847



7,240



Amortization of intangible assets

1,279



2,049



281



5,116



5,886



806



Share-based compensation

62,224



42,493



5,822



267,101



192,572



26,382



Share of loss (income) on equity method investments

38,703



514



70



70,643



(59,216)



(8,113)



Gain on repurchase of convertible senior notes

-



-



-



(4,565)



-



-



Cash received on distributions from equity method investments

-



730



100



2,067



1,927



264



Loss on long-term investments

31,250



46,639



6,390



31,250



90,509



12,400



Gain or loss on disposal of property and equipment

2



-



-



(518)



(62)



(8)



Provision of loss (income) on receivable and other assets

1,553



(57)



(8)



11,624



3,618



496



Changes in operating assets and liabilities:

























Accounts receivable

(11,392)



(4,347)



(596)



(21,308)



7,605



1,042



Prepaid expenses and other current assets

(13,492)



27,035



3,704



84,802



(64,811)



(8,879)



Amounts due from related parties

(144)



-



-



(27,203)



-



-



Rental deposits

5,524



-



-



7,776



(309)



(42)



Deferred tax assets

1,728



(128)



(18)



2,600



(4,323)



(592)



Other non-current assets

16,033



101,561



13,914



(11,606)



(81,837)



(11,212)



Accounts payable

(25,118)



8,139



1,115



13,707



(7,571)



(1,037)



Income tax payable

5,456



63,625



8,717



25,952



62,337



8,540



Deferred revenue

(31,253)



(26,219)



(3,592)



(42,390)



(25,651)



(3,514)



Accrued expenses and other current liabilities

(11,586)



78,250



10,720



(183,772)



139,607



19,126



Amount due to related parties

639



-



-



(4,865)



-



-



Deferred tax liabilities

(130,345)



(81,498)



(11,165)



(147)



212,835



29,158



Other non-current liabilities

6,953



(34,247)



(4,692)



24,710



74,458



10,201



Net cash provided by operating activities

415,877



423,642



58,037



2,277,161



1,639,994



224,678



Cash flows from investing activities:

























Purchase of property and equipment

(316,847)



(21,727)



(2,977)



(576,310)



(285,541)



(39,119)



Payment for long-term investments

(9,750)



(35,959)



(4,926)



(18,750)



(69,209)



(9,482)



Payment for business acquisition

-



(136,642)



(18,720)



-



(136,642)



(18,720)



Purchase of short-term deposits

-



-



-



(1,028,556)



(2,133,086)



(292,232)



Cash received on maturity of short-term deposits

800,000



1,047,165



143,461



6,209,820



2,128,181



291,560



Cash received from sales of short-term investment

308,550



-



-



308,550



-



-



Cash received on investment income distribution

-



120



16



1,517



120



16



Purchase of long-term deposits

(361,165)



-



-



(4,210,025)



(718,860)



(98,483)



Cash received on maturity of long-term deposits

-



200,000



27,400



1,700,000



918,860



125,883



Cash received from sales of long-term investment

10,000



-



-



25,000



2,000



274



Loan to a third-party company

-



(168,933)



(23,144)



-



(265,613)



(36,389)



Other investing activities

1



8



1



1,823



903



124



Net cash provided by (used in) investing activities

430,789



884,032



121,111



2,413,069



(558,887)



(76,568)



Cash flows from financing activities:

























    Proceeds from exercise of share options

31



1



-



601



18



2



    Repurchase of ordinary shares

(150,191)



(425,176)



(58,249)



(212,195)



(1,197,439)



(164,048)



    Repurchase of subsidiary's share options

-



-



-



(4,319)



-



-



    Dividends payment

(20,803)



-



-



(958,052)



(716,302)



(98,133)



    Proceeds from short-term borrowings

-



-



-



-



2,365,535



324,077



    Proceeds from long-term borrowings

-



-



-



2,154,000



-



-



    Repayment of long-term borrowings

-



-



-



-



(215,615)



(29,539)



    Payment for redemption of convertible bonds

-



-



-



(2,679,942)



-



-



Net cash (used in) provided by financing activities

(170,963)



(425,175)



(58,249)



(1,699,907)



236,197



32,359



Effect of exchange rate changes

(34,609)



172,439



23,628



93,988



42,205



5,784



Net increase in cash and cash equivalents

641,094



1,054,938



144,527



3,084,311



1,359,509



186,253



Cash, cash equivalents and restricted cash at the beginning of period

7,641,818



8,587,483



1,176,480



5,198,601



8,282,912



1,134,754



Cash, cash equivalents and restricted cash at the end of period

8,282,912



9,642,421



1,321,007



8,282,912



9,642,421



1,321,007



 

 

 

Hello Group Inc.

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(All amounts in thousands, except per share data)















1.

Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures.















Three months



Three months



Three months

Ended December 31, 2023



Ended December 31, 2024



Ended December 31, 2024



GAAP

Share-based

compensation

Non-GAAP



GAAP

Amortization of

intangible assets

from business

acquisitions 

Share-based

compensation

Non-GAAP



GAAP

Amortization of

intangible assets

from business

acquisitions 

Share-based

compensation

Non-GAAP



RMB

RMB

RMB



RMB

RMB

RMB

RMB



US$

US$

US$

US$

Cost of revenues

(1,770,117)

1,909

(1,768,208)



(1,724,821)

128

1,822

(1,722,871)



(236,300)

18

250

(236,032)

Research and development

(231,445)

13,375

(218,070)



(222,684)

120

10,198

(212,366)



(30,508)

16

1,397

(29,095)

Sales and marketing

(304,696)

8,653

(296,043)



(316,699)

521

4,480

(311,698)



(43,388)

71

614

(42,703)

General and administrative

(125,498)

38,287

(87,211)



(143,621)

-

25,993

(117,628)



(19,676)

-

3,561

(16,115)

Cost and operating expenses

(2,431,756)

62,224

(2,369,532)



(2,407,825)

769

42,493

(2,364,563)



(329,872)

105

5,822

(323,945)

Income from operations

601,997

62,224

664,221



236,686

769

42,493

279,948



32,424

105

5,822

38,351

Net income attributable to Hello Group Inc.

452,469

62,224

514,693



187,235

769

42,493

230,497



25,649

105

5,822

31,576

 

 

 

Hello Group Inc.

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(All amounts in thousands, except per share data)













1.

Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures-continued.















Year



Year



Year

Ended December 31, 2023



Ended December 31, 2024



Ended December 31, 2024



GAAP

Share-based

compensation

Non-GAAP



GAAP

Amortization of

intangible assets

from business

acquisitions 

Share-based

compensation

Non-GAAP



GAAP

Amortization of

intangible assets

from business

acquisitions 

Share-based

compensation

Non-GAAP



RMB

RMB

RMB



RMB

RMB

RMB

RMB



US$

US$

US$

US$

Cost of revenues

(7,025,394)

6,307

(7,019,087)



(6,447,341)

128

7,643

(6,439,570)



(883,282)

18

1,047

(882,217)

Research and development

(884,590)

64,561

(820,029)



(804,425)

120

43,526

(760,779)



(110,206)

16

5,963

(104,227)

Sales and marketing

(1,414,949)

29,066

(1,385,883)



(1,329,780)

521

19,520

(1,309,739)



(182,179)

71

2,674

(179,434)

General and administrative

(502,479)

167,167

(335,312)



(507,658)

-

121,883

(385,775)



(69,549)

-

16,698

(52,851)

Cost and operating expenses

(9,827,412)

267,101

(9,560,311)



(9,089,204)

769

192,572

(8,895,863)



(1,245,216)

105

26,382

(1,218,729)

Income from operations

2,305,016

267,101

2,572,117



1,532,770

769

192,572

1,726,111



209,988

105

26,382

236,475

Net income attributable to Hello Group Inc.

1,957,581

267,101

2,224,682



1,039,573

769

192,572

1,232,914



142,420

105

26,382

168,907

 

 

 

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)



Three months

 Ended December 31, 2024



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Net revenues:



















Live video service

1,189,118



75,733



-



1,264,851



173,284

Value-added service

1,198,951



127,813



-



1,326,764



181,766

Mobile marketing

33,772



9,858



-



43,630



5,977

Other services

1,222



-



29



1,251



171

Total net revenues

2,423,063



213,404



29



2,636,496



361,198

Cost and expenses (ii):



















Cost of revenues

(1,621,151)



(103,670)



-



(1,724,821)



(236,300)

Research and development

(181,255)



(41,429)



-



(222,684)



(30,508)

Sales and marketing

(267,065)



(48,978)



(656)



(316,699)



(43,388)

General and administrative

(134,200)



(9,124)



(297)



(143,621)



(19,676)

Total cost and expenses

(2,203,671)



(203,201)



(953)



(2,407,825)



(329,872)

Other operating income

7,032



928



55



8,015



1,098

Income (loss) from operations

226,424



11,131



(869)



236,686



32,424

Interest income

123,822



216



7



124,045



16,994

Interest expense

(36,846)



-



-



(36,846)



(5,048)

Other gain or loss, net

(46,639)



-



-



(46,639)



(6,390)

Income (loss) before income tax and share of loss on equity method  

investments

266,761



11,347



(862)



277,246



37,980

Income tax (expenses) benefits

(89,919)



455



(33)



(89,497)



(12,261)

Income (loss) before share of loss on equity method investments

176,842



11,802



(895)



187,749



25,719

Share of loss on equity method investments

(514)



-



-



(514)



(70)

Net income (loss)

176,328



11,802



(895)



187,235



25,649

 

(ii)  Share-based compensation was allocated in cost of revenues and operating expenses as follows:

 

















































































Three months

















































































Ended December 31, 2024

















































































Momo



Tantan



QOOL



Total



Total

















































































RMB



RMB



RMB



RMB



US$

Cost of revenues















































































1,822



-



-



1,822



250

Research and development















































































9,956



242



-



10,198



1,397

Sales and marketing















































































4,480



-



-



4,480



614

General and administrative















































































25,993



-



-



25,993



3,561

Total cost and expenses















































































42,251



242



-



42,493



5,822

 

 

 

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)



Three months



Ended December 31, 2024



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Income (loss) from operations

226,424



11,131



(869)



236,686



32,424

Share-based compensation

42,251



242



-



42,493



5,822

Amortization of intangible assets from

business acquisitions

769



-



-



769



105

Non-GAAP income (loss) from

operations

269,444



11,373



(869)



279,948



38,351





















Net income (loss)

176,328



11,802



(895)



187,235



25,649

Share-based compensation

42,251



242



-



42,493



5,822

Amortization of intangible assets from

business acquisitions

769



-



-



769



105

Non-GAAP net income (loss)

219,348



12,044



(895)



230,497



31,576

 

 

 

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)



Three months

Ended December 31, 2023



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$[1]

Net revenues:



















Live video service

1,423,730



100,155



-



1,523,885



214,635

Value-added service

1,264,358



160,535



-



1,424,893



200,692

Mobile marketing

33,395



11,520



-



44,915



6,326

Mobile games

5,441



-



-



5,441



766

Other services

1,760



-



2,038



3,798



535

Total net revenues

2,728,684



272,210



2,038



3,002,932



422,954

Cost and expenses (iii):



















Cost of revenues

(1,638,915)



(130,237)



(965)



(1,770,117)



(249,316)

Research and development

(180,343)



(51,102)



-



(231,445)



(32,598)

Sales and marketing

(244,043)



(58,444)



(2,209)



(304,696)



(42,916)

General and administrative

(117,923)



(6,882)



(693)



(125,498)



(17,676)

Total cost and expenses

(2,181,224)



(246,665)



(3,867)



(2,431,756)



(342,506)

Other operating income, net

29,442



1,301



78



30,821



4,341

Income (loss) from operations

576,902



26,846



(1,751)



601,997



84,789

Interest income

124,294



57



3



124,354



17,515

Interest expense

(20,552)



-



-



(20,552)



(2,895)

Other gain or loss, net

(31,250)



-



-



(31,250)



(4,401)

Income (loss) before income tax and share of loss on equity

method investments

649,394



26,903



(1,748)



674,549



95,008

Income tax expenses

(180,669)



(2,708)



-



(183,377)



(25,828)

Income (loss) before share of loss on equity method investments

468,725



24,195



(1,748)



491,172



69,180

Share of loss on equity method investments

(38,703)



-



-



(38,703)



(5,451)

Net income (loss)

430,022



24,195



(1,748)



452,469



63,729

 

(iii)  Share-based compensation was allocated in cost of revenues and operating expenses as follows:

 



















































Three months



















































Ended December 31, 2023



















































  Momo  



  Tantan  



  QOOL



  Total  



 Total  



















































   RMB



  RMB  



  RMB



 RMB



US$

Cost of revenues

















































1,905



4



-



1,909



269

Research and development

















































13,194



181



-



13,375



1,884

Sales and marketing

















































8,653



-



-



8,653



1,219

General and administrative

















































38,279



8



-



38,287



5,393

Total cost and expenses

















































62,031



193



-



62,224



8,765

 

[1] All translations from RMB to U.S. dollars are made at a rate of RMB7.0999 to US$1.00, the effective noon buying rate for December 29, 2023 as set forth in the H.10 statistical release of the Federal Reserve Board.

 

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)



Three months



Ended December 31, 2023



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Income (loss) from operations

576,902



26,846



(1,751)



601,997



84,789

Share-based compensation

62,031



193



-



62,224



8,765

Non-GAAP income (loss) from

operations

638,933



27,039



(1,751)



664,221



93,554





















Net income (loss)

430,022



24,195



(1,748)



452,469



63,729

Share-based compensation

62,031



193



-



62,224



8,765

Non-GAAP net income (loss)

492,053



24,388



(1,748)



514,693



72,494

 

 

 

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)



Year

 Ended December 31, 2024



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Net revenues:



















Live video service

4,779,865



312,989



-



5,092,854



697,718

Value-added service

4,772,811



549,915



-



5,322,726



729,210

Mobile marketing

105,169



37,781



-



142,950



19,584

Mobile games

432



-



-



432



59

Other services

3,137



-



872



4,009



550

Total net revenues

9,661,414



900,685



872



10,562,971



1,447,121

Cost and expenses (iv):



















Cost of revenues

(6,029,415)



(417,887)



(39)



(6,447,341)



(883,282)

Research and development

(643,457)



(160,968)



-



(804,425)



(110,206)

Sales and marketing

(1,103,475)



(220,966)



(5,339)



(1,329,780)



(182,179)

General and administrative

(473,778)



(32,868)



(1,012)



(507,658)



(69,549)

Total cost and expenses

(8,250,125)



(832,689)



(6,390)



(9,089,204)



(1,245,216)

Other operating income

56,069



2,853



81



59,003



8,083

Income (loss) from operations

1,467,358



70,849



(5,437)



1,532,770



209,988

Interest income

510,162



789



13



510,964



70,002

Interest expense

(127,846)



-



-



(127,846)



(17,515)

Other gain or loss, net

(90,509)



-



-



(90,509)



(12,400)

Income (loss) before income tax and share of income on equity method

investments

1,759,165



71,638



(5,424)



1,825,379



250,075

Income tax expenses

(843,640)



(1,349)



(33)



(845,022)



(115,768)

Income (loss) before share of income on equity method investments

915,525



70,289



(5,457)



980,357



134,307

Share of income on equity method investments

59,216



-



-



59,216



8,113

Net income (loss)

974,741



70,289



(5,457)



1,039,573



142,420

 

(iv)  Share-based compensation was allocated in cost of revenues and operating expenses as follows:

 



































































Year



































































Ended December 31, 2024



































































Momo



Tantan



QOOL



Total



Total



































































RMB



RMB



RMB



RMB



US$

Cost of revenues

































































7,639



4



-



7,643



1,047

Research and development

































































38,452



5,074



-



43,526



5,963

Sales and marketing

































































19,520



-



-



19,520



2,674

General and administrative

































































121,867



16



-



121,883



16,698

Total cost and expenses

































































187,478



5,094



-



192,572



26,382

 

 

 

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)



Year



Ended December 31, 2024



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Income (loss) from operations

1,467,358



70,849



(5,437)



1,532,770



209,988

Share-based compensation

187,478



5,094



-



192,572



26,382

Amortization of intangible assets from

business acquisitions

769



-



-



769



105

Non-GAAP income (loss) from operations

1,655,605



75,943



(5,437)



1,726,111



236,475





















Net income (loss)

974,741



70,289



(5,457)



1,039,573



142,420

Share-based compensation

187,478



5,094



-



192,572



26,382

Amortization of intangible assets from

business acquisitions

769



-



-



769



105

Non-GAAP net income (loss)

1,162,988



75,383



(5,457)



1,232,914



168,907

 

 

 

Hello Group Inc.

Unaudited Condensed Segment Report

(All amounts in thousands, except share and per share data)



Year

Ended December 31, 2023



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Net revenues:



















Live video service

5,567,894



504,977



-



6,072,871



855,346

Value-added service

5,085,541



667,030



-



5,752,571



810,233

Mobile marketing

109,125



24,552



-



133,677



18,828

Mobile games

19,610



-



-



19,610



2,762

Other services

16,337



-



7,257



23,594



3,323

Total net revenues

10,798,507



1,196,559



7,257



12,002,323



1,690,492

Cost and expenses (v):



















Cost of revenues

(6,404,042)



(599,348)



(22,004)



(7,025,394)



(989,506)

Research and development

(664,340)



(220,250)



-



(884,590)



(124,592)

Sales and marketing

(1,138,505)



(268,652)



(7,792)



(1,414,949)



(199,291)

General and administrative

(467,537)



(26,482)



(8,460)



(502,479)



(70,773)

Total cost and expenses

(8,674,424)



(1,114,732)



(38,256)



(9,827,412)



(1,384,162)

Other operating income

125,318



4,411



376



130,105



18,325

Income (loss) from operations

2,249,401



86,238



(30,623)



2,305,016



324,655

Interest income

435,451



713



89



436,253



61,445

Interest expense

(62,223)



-



-



(62,223)



(8,764)

Other gain or loss, net

(26,685)



-



-



(26,685)



(3,759)

Income (loss) before income tax and share of loss on equity method  

investments

2,595,944



86,951



(30,534)



2,652,361



373,577

Income tax expenses

(623,844)



(6,179)



-



(630,023)



(88,737)

Income (loss) before share of loss on equity method investments

1,972,100



80,772



(30,534)



2,022,338



284,840

Share of loss on equity method investments

(70,643)



-



-



(70,643)



(9,950)

Net income (loss)

1,901,457



80,772



(30,534)



1,951,695



274,890

 

(v)  Share-based compensation was allocated in cost of revenues and operating expenses as follows:

 



















































Year



















































Ended December 31, 2023



















































Momo



Tantan



QOOL



Total



Total



















































RMB



RMB



RMB



RMB



US$

Cost of revenues

















































6,167



140



-



6,307



888

Research and development

















































49,987



14,574



-



64,561



9,093

Sales and marketing

















































29,061



5



-



29,066



4,094

General and administrative

















































167,135



32



-



167,167



23,545

Total cost and expenses

















































252,350



14,751



-



267,101



37,620

 

 

 

Hello Group Inc.

Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report

(All amounts in thousands, except share and per share data)



Year



ended December 31, 2023



Momo



Tantan



QOOL



Total



Total



RMB



RMB



RMB



RMB



US$

Operating income (loss) from operations

2,249,401



86,238



(30,623)



2,305,016



324,655

Share-based compensation

252,350



14,751



-



267,101



37,620

Non-GAAP operating income (loss) from

operations

2,501,751



100,989



(30,623)



2,572,117



362,275





















Net income (loss)

1,901,457



80,772



(30,534)



1,951,695



274,890

Share-based compensation

252,350



14,751



-



267,101



37,620

Non-GAAP net income (loss)

2,153,807



95,523



(30,534)



2,218,796



312,510

 

 

Cision View original content:https://www.prnewswire.com/news-releases/hello-group-inc-announces-unaudited-financial-results-for-the-fourth-quarter-and-fiscal-year-2024-302399626.html

SOURCE Hello Group Inc.

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