v3.25.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 7—SEGMENT INFORMATION
Our chief operating decision maker (“CODM”), who is our Chief Executive Officer, analyzes the results of our business through four operating segments consisting of brands or groups of brands within our portfolio: Tinder, Hinge, Evergreen & Emerging, and MG Asia. These four operating segments are also our reportable segments. Our CODM primarily evaluates the operating results and performance of our segments through revenue, operating income, and Adjusted Operating Income. These financial metrics are used to view operating trends, perform analytical comparisons, compare performance between periods, and evaluate variances to forecast on a monthly basis.
The following table presents revenue by segment, which includes revenue from customers in the form of direct revenue, indirect revenue, which is primarily advertising revenue, and intersegment revenue, which is eliminated in consolidated results:
Three Months Ended March 31,
20252024
(In thousands)
Revenue:
Tinder$463,416 $493,110 
Hinge152,243 123,753 
Evergreen & Emerging152,429 171,136 
MG Asia63,823 71,648 
Eliminations(733)— 
Total$831,178 $859,647 
The following tables present the segment profitability measures, operating income (loss) and Adjusted Operating Income, and a reconciliation of the total segment profitability measures to earnings before income taxes:
Three Months Ended March 31,
20252024
(In thousands)
Operating income (loss):
Tinder$193,348 $210,042 
Hinge28,625 18,505 
Evergreen & Emerging6,678 17,321 
MG Asia3,447 (7,667)
Total segment operating income232,098 238,201 
Corporate and unallocated costs(a)
(59,505)(53,463)
Interest expense(35,256)(40,353)
Other income, net
2,616 9,474 
Earnings before income taxes
$139,953 $153,859 
______________________
(a)Includes stock-based compensation and depreciation
Three Months Ended March 31,
20252024
(In thousands)
Adjusted Operating Income:
Tinder$228,468 $239,836 
Hinge42,575 28,955 
Evergreen & Emerging28,675 38,276 
MG Asia18,980 13,302 
Total segment Adjusted Operating Income318,698 320,369 
Corporate and unallocated costs(43,504)(40,923)
Stock-based compensation(70,394)(63,820)
Depreciation(21,729)(20,521)
Amortization of intangibles(10,478)(10,367)
Interest expense(35,256)(40,353)
Other income, net
2,616 9,474 
Earnings before income taxes
$139,953 $153,859 
Corporate and unallocated costs includes 1) corporate expenses (such as executive management, investor relations, corporate development, and board of director and public company listing fees), 2) portions of corporate services (such as legal, human resources, accounting, and tax), and 3) certain centrally managed services and technology that have not been allocated to the individual business segments (such as central trust and safety operations and certain shared software).
Our CODM does not review disaggregated assets on a segment basis; therefore, such information is not presented. Interest income and other income, net are not allocated to individual segments as these are managed on a consolidated basis. The accounting policies for segment reporting are the same as for our consolidated financial statements.
The following tables present the significant segment expenses regularly reviewed by our CODM:
Three Months Ended March 31, 2025
TinderHingeEvergreen & EmergingMG Asia
(In thousands)
In-app purchase fees$95,243 $41,667 $17,749 $14,422 
Cost of acquisition45,617 25,526 53,257 15,541 
Variable expense30,384 4,946 6,816 4,868 
Employee compensation expense, excluding stock-based compensation expense51,895 31,746 35,141 8,660 
Other operating expenses(a)
11,809 5,783 10,791 1,352 
Stock-based compensation(b)
25,315 13,232 12,227 4,834 
Depreciation(b)
9,805 718 6,317 3,674 
Amortization of intangible assets(b)
— — 3,453 7,025 
Three Months Ended March 31, 2024
TinderHingeEvergreen & EmergingMG Asia
(In thousands)
In-app purchase fees$108,339 $34,648 $18,488 $16,582 
Cost of acquisition50,547 24,956 52,129 17,983 
Variable expense29,232 4,292 14,635 7,779 
Employee compensation expense, excluding stock-based compensation expense53,603 26,735 36,442 10,903 
Other operating expenses(a)
11,553 4,167 11,166 5,099 
Stock-based compensation(b)
20,541 9,915 14,048 8,081 
Depreciation(b)
9,253 535 4,838 4,590 
Amortization of intangible assets(b)
— — 2,069 8,298 
______________________
(a)Other operating expenses primarily consists of office rent, business software, travel, indirect taxes, and professional fees.
(b)Expense is a non-cash item and excluded from the profitability measure of Adjusted Operating Income (Loss).