EX-99.1

Exhibit 99.1

Hello Group Inc. Announces Unaudited Financial Results for the Second Quarter of 2025

BEIJING, CHINA, September 9, 2025 – Hello Group Inc. (NASDAQ: MOMO) (“Hello Group” or the “Company”), a leading player in Asia’s online social networking space, today announced its unaudited financial results for the second quarter of 2025.

Second Quarter of 2025 Highlights

•

Net revenues decreased by 2.6% year over year to RMB2,620.4 million (US$365.8 million^*) in the second quarter of 2025.

•

Net revenues from overseas increased by 72.7% year over year to RMB442.4 million (US$61.8 million) in the second quarter of 2025.

•

Net loss attributable to Hello Group Inc. was RMB140.2 million (US$19.6 million) in the second quarter of 2025, compared to a net income of RMB397.8 million in the same period of 2024.

•

Non-GAAP net loss attributable to Hello Group Inc. (note 1) was RMB96.0 million (US$13.4 million) in the second quarter of 2025, compared to a net income of RMB449.2 million in the same period of 2024. In the second quarter of 2025, the Company accrued an additional withholding tax of RMB547.9 million (US$76.5 million) related to dividends paid or payable by its wholly-foreign owned enterprise (“WFOE”) in Chinese mainland to its offshore parent company in Hong Kong, Momo Hong Kong. This accrual followed a notice the Company’s WFOE, Momo Beijing, received from the Chinese tax authorities requiring Momo Beijing to withhold tax at the standard rate of 10% instead of the previously applied preferential rate of 5%. The RMB547.9 million (US$76.5 million) accrual in withholding tax was for prior periods. This accrual is unrelated to the normal business operation of the current period and future periods. In the second quarter of 2025 and going forward, we will continue to accrue withholding tax for the dividends payable by Momo Beijing to Momo Hong Kong at the standard rate of 10%. Further details are provided under “Income tax expenses.”

•

Diluted net loss per American Depositary Share (“ADS”) was RMB0.84 (US$0.12) in the second quarter of 2025, compared to a diluted net income per ADS of RMB2.11 in the same period of 2024.

•

Non-GAAP diluted net loss per ADS (note 1) was RMB0.58 (US$0.08) in the second quarter of 2025, compared to a diluted net income per ADS of RMB2.38 in the same period of 2024.

•

Monthly Active Users (“MAU”) on Tantan app were 10.2 million in June 2025, compared to 12.9 million in June 2024.

•

For the Momo app total paying users was 3.5 million for the second quarter of 2025, compared to 7.2 million for the same period last year. Tantan had 0.7 million paying users for the second quarter of 2025 compared to 1.0 million from the year ago period.

First Half of 2025 Highlights

•

Net revenues decreased by 2.1% year over year to RMB5,141.2 million (US$717.7 million) for the first half of 2025.

•

Net revenues from overseas increased by 72.3% year over year to RMB857.0 million (US$119.6 million) for the first half of 2025.

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 RMB7.1636 to US$1.00, the effective noon buying rate for June 30, 2025 as set forth in the H.10 statistical release of the Federal Reserve Board.

•

Net income attributable to Hello Group Inc. was RMB217.8 million (US$30.4 million) for the first half of 2025, compared to RMB403.0 million during the same period of 2024.

•

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB307.7 million (US$43.0 million) for the first half of 2025, compared to RMB509.1 million during the same period of 2024.

•

Diluted net income per ADS was RMB1.27 (US$0.18) for the first half of 2025, compared to RMB2.10 during the same period of 2024.

•

Non-GAAP diluted net income per ADS (note 1) was RMB1.80 (US$0.25) for the first half of 2025, compared to RMB2.65 during the same period of 2024.

“Q2 was a good quarter. Both our domestic and overseas business fundamentals extended the positive trend that began at the start of the year, achieving favorable results across various operational and financial metrics,” commented Yan Tang, Chairman and CEO of Hello Group.” Our Momo business has progressively stabilized, with both revenue and profit surpassing our initial expectations. For our overseas business, we have successfully maintained rapid growth while controlling costs and expenses effectively. This strategic approach keeps our overseas business on course to deliver an increasingly meaningful contribution to the group’s overall financial performance. “

Second Quarter of 2025 Financial Results

Net revenues

Total net revenues were RMB2,620.4 million (US$365.8 million) in the second quarter of 2025, a decrease of 2.6% from RMB2,691.4 million in the second quarter of 2024.

Value-added service revenues mainly include virtual gift revenues from various audio, video and text- based scenarios, and membership subscription revenues. Total value-added service revenues were RMB2,579.3 million (US$360.1 million) in the second quarter of 2025, a decrease of 2.6% from RMB2,648.3 million during the same period of 2024. The decrease was primarily due to a soft consumer sentiment among top users in the current macro environment of Momo app, 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 mitigated by the rapid revenue growth from our overseas apps, driven by the strong performance of the relatively established brand-Soulchill, along with the monetization of a collection of new apps.

Other services revenues were RMB41.1 million (US$5.7 million) in the second quarter of 2025, compared to RMB43.1 million during the same period of 2024.

Net revenues from Chinese mainland decreased from RMB2,435.1 million in the second quarter of 2024 to RMB2,177.9 million (US$304.0 million) in the second quarter of 2025, primarily due to the decrease in net revenues from Momo app and Tantan app. Net revenues from overseas increased from RMB256.3 million in the second quarter of 2024 to RMB442.4 million (US$61.8 million) in the second quarter of 2025, driven by the growth of Souchill and incremental revenue from emerging brands.

Cost and expenses

Cost and expenses were RMB2,227.7 million (US$311.0 million) in the second quarter of 2025, a decrease of 2.1% from RMB2,275.2 million in the second quarter of 2024. The decrease was primarily attributable to: (a) a decrease in Tantan’s marketing and promotional expense due to our continuous initiatives to control cost and optimize Tantan’s channel marketing strategy, partially offset by an increase in sales and marketing expenses related to the promotion of overseas apps; (b) a decrease in revenue sharing with broadcasters on Momo apps, which was partially offset by an increase in revenue sharing with virtual gift recipients for overseas apps; and (c) a decrease in production costs in connection with films.

Non-GAAP cost and expenses (note 1) were RMB2,183.6 million (US$304.8 million) in the second quarter of 2025, compared to RMB2,223.8 million during the same period of 2024.

Income from operations

Income from operations was RMB403.5 million (US$56.3 million) in the second quarter of 2025, compared to RMB425.0 million during the same period of 2024.

Non-GAAP income from operations (note 1) was RMB447.7 million (US$62.5 million) in the second quarter of 2025, compared to RMB476.5 million during the same period of 2024.

Income tax expenses

Income tax expenses were RMB638.4 million (US$89.1 million) in the second quarter of 2025, compared to RMB102.6 million in the second quarter of 2024.

On August 27, 2025, the Company’s WFOE, Momo Beijing, received a notice from the Chinese tax authorities requiring Momo Beijing to withhold tax at the standard rate of 10% instead of the previously applied preferential rate of 5%. As a result, the Company accrued an additional withholding tax of RMB547.9 million (US$76.5 million). Of this total amount, RMB356.1 million (US$49.7 million) was related to dividends paid by Momo Beijing in 2024 and in the first half of 2025, and this amount has been remitted in September 2025. The remaining RMB191.8 million (US$26.8 million) represents additional withholding tax accrued for the undistributed retained earnings of Momo Beijing as of March 31st 2025. The RMB547.9 million (US$76.5 million) accrual in withholding tax was for prior periods. This accrual is unrelated to the normal business operation of the current period and future periods. In the second quarter of 2025 and going forward, we will continue to accrue withholding tax for the dividends payable by Momo Beijing to Momo Hong Kong at the standard rate of 10%.

Net income (loss)

Net loss was RMB139.4 million (US$19.5 million) in the second quarter of 2025, compared to a net income of RMB397.8 million during the same period of 2024.

Non-GAAP net loss (note 1) was RMB95.2 million (US$13.3 million) in the second quarter of 2025, compared to a net income of RMB449.2 million during the same period of 2024.

Net income (loss) attributable to Hello Group Inc.

Net loss attributable to Hello Group Inc. was RMB140.2 million (US$19.6 million) in the second quarter of 2025, compared to a net income of RMB397.8 million during the same period of 2024.

Non-GAAP net loss (note 1) attributable to Hello Group Inc. was RMB96.0 million (US$13.4 million) in the second quarter of 2025, compared to a net income of RMB449.2 million during the same period of 2024.

Net income (loss) per ADS

Diluted net loss per ADS was RMB0.84 (US$0.12) in the second quarter of 2025, compared to a diluted net income per ADS of RMB2.11 in the second quarter of 2024.

Non-GAAP diluted net loss per ADS (note 1) was RMB0.58 (US$0.08) in the second quarter of 2025, compared to a diluted net income per ADS of RMB2.38 in the second quarter of 2024.

Cash and cash flow

As of June 30, 2025, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB12,390.6 million (US$1,729.7 million), compared to RMB14,728.5 million as of December 31, 2024.

Net cash provided by operating activities in the second quarter of 2025 was RMB250.1 million (US$34.9 million), compared to RMB475.2 million in the second quarter of 2024.

First Half of 2025 Financial Results

Net revenues for the first half of 2025 were RMB5,141.2 million (US$717.7 million), a decrease of 2.1% from RMB5,251.8 million in the same period of 2024.

Net income attributable to Hello Group Inc. was RMB217.8 million (US$30.4 million) for the first half of 2025, compared to RMB403.0 million during the same period of 2024.

Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB307.7 million (US$43.0 million) for the first half of 2025, compared to RMB509.1 million during the same period of 2024.

Diluted net income per ADS was RMB1.27 (US$0.18) during the first half of 2025, compared to RMB2.10 in the same period of 2024.

Non-GAAP diluted net income per ADS (note 1) was RMB1.80 (US$0.25) during the first half of 2025, compared to RMB2.65 in the same period of 2024.

Net cash provided by operating activities was RMB489.9 million (US$68.4 million) during the first half of 2025, compared to RMB875.4 million in the same period of 2024.

Recent Development

Share repurchase program

As of September, 9, 2025, the Company has repurchased 48.9 million ADSs for US$300.3 million on the open market under the Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024 and March 12, 2025, at an average purchase price of US$6.12 per ADS. The remaining size of the program is US$185.8 million.

Business Outlook

For the third quarter of 2025, the Company expects total net revenues to be between RMB2.59 billion to RMB2.69 billion, representing a decrease of 3.2% to an increase of 0.6% 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 (loss), net income (loss) attributable to Hello Group Inc., and diluted net income (loss) 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 Tuesday, September 9, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on September 9, 2025).

Participants can register for the conference call by navigating to:

https://s1.c-conf.com/diamondpass/10049643-g8d65s.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 September 16, 2025. The dial-in details for the replay are as follows:

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

Hong Kong: 800-930-639

Passcode: 10049643

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 Asia’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 third 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 second quarter of 2025 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the third 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 Ended June 30									First half year Ended June 30
	2024			2025			2025			2024			2025			2025
	RMB			RMB			US$			RMB			RMB			US$
Net revenues(i):
Value-added service		2,648,336			2,579,292			360,055			5,181,253			5,069,194			707,632
Other services		43,055			41,076			5,734			70,558			72,009			10,052

Total net revenues		2,691,391			2,620,368			365,789			5,251,811			5,141,203			717,684
Cost and expenses:
Cost of revenues		(1,595,789	)		(1,607,712	)		(224,428	)		(3,098,797	)		(3,176,786	)		(443,462	)
Research and development		(193,168	)		(183,859	)		(25,666	)		(385,359	)		(379,628	)		(52,994	)
Sales and marketing		(364,769	)		(347,327	)		(48,485	)		(658,200	)		(676,505	)		(94,436	)
General and administrative		(121,482	)		(88,839	)		(12,401	)		(252,863	)		(229,350	)		(32,016	)

Total cost and expenses		(2,275,208	)		(2,227,737	)		(310,980	)		(4,395,219	)		(4,462,269	)		(622,908	)
Other operating income, net		8,861			10,865			1,517			28,767			24,047			3,357

Income from operations		425,044			403,496			56,326			885,359			702,981			98,133
Interest income		130,937			105,513			14,729			252,044			225,851			31,528
Interest expense		(32,493	)		(23,417	)		(3,269	)		(56,191	)		(54,076	)		(7,549	)
Other gain or loss, net		(34,625	)		(40	)		(6	)		(43,870	)		(40	)		(6	)

Income before income tax and share of income on equity method investments		488,863			485,552			67,780			1,037,342			874,716			122,106
Income tax expenses		(102,614	)		(638,390	)		(89,116	)		(660,227	)		(708,796	)		(98,944	)

Income (loss) before share of income on equity method investments		386,249			(152,838	)		(21,336	)		377,115			165,920			23,162
Share of income on equity method investments		11,536			13,427			1,874			25,854			53,158			7,421

Net income (loss)		397,785			(139,411	)		(19,462	)		402,969			219,078			30,583

Less: net income attributable to non-controlling interest		—			793			111			—			1,288			180

Net income (loss) attributable to the shareholders of Hello Group Inc.		397,785			(140,204	)		(19,573	)		402,969			217,790			30,403

Net income (loss) per share attributable to ordinary shareholders
Basic		1.10			(0.42	)		(0.06	)		1.09			0.65			0.09
Diluted		1.05			(0.42	)		(0.06	)		1.05			0.64			0.09
Weighted average shares used in calculating net income (loss) per ordinary share
Basic		362,394,762			332,986,414			332,986,414			368,522,705			335,653,491			335,653,491
Diluted		377,903,589			332,986,414			332,986,414			383,528,002			341,743,527			341,743,527

(i)	The following table presents revenues by geographic area based on the addresses of our customers of our users:


	Three months Ended June 30						First half year Ended June 30
	2024		2025		2025		2024		2025		2025
	RMB		RMB		US$		RMB		RMB		US$
Chinese mainland		2,435,133		2,177,929		304,027		4,754,356		4,284,162		598,046
Overseas		256,258		442,439		61,762		497,455		857,041		119,638

Total		2,691,391		2,620,368		365,789		5,251,811		5,141,203		717,684

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Comprehensive Income

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


	Three months Ended June 30								First half year Ended June 30
	2024		2025			2025			2024		2025			2025
	RMB		RMB			US$			RMB		RMB			US$
Net income (loss)		397,785		(139,411	)		(19,462	)		402,969		219,078			30,583
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		41,569		(73,476	)		(10,257	)		96,463		(116,814	)		(16,307	)

Comprehensive income (loss)		439,354		(212,887	)		(29,719	)		499,432		102,264			14,276
Less: comprehensive income (loss) attributed to the non-controlling interest		1,202		(920	)		(128	)		4,286		(1,519	)		(212	)

Comprehensive income (loss) attributable to Hello Group Inc.		438,152		(211,967	)		(29,591	)		495,146		103,783			14,488

Hello Group Inc.

Unaudited Condensed Consolidated Balance Sheets

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


	December 31		June 30		June 30
	2024		2025		2025
	RMB		RMB		US$
Assets
Current assets
Cash and cash equivalents		4,122,659		5,017,224		700,377
Short-term deposits		2,026,245		1,308,180		182,615
Restricted cash		4,566,477		3,539,451		494,088
Accounts receivable, net of allowance for credit losses of RMB12,433 and RMB17,725 as of December 31, 2024 and June 30, 2025, respectively		192,317		238,778		33,332
Prepaid expenses and other current assets		1,104,172		982,242		137,116

Total current assets		12,011,870		11,085,875		1,547,528
Long-term deposits		3,059,860		2,482,720		346,574
Long-term restricted cash		953,285		42,982		6,000
Right-of-use assets, net		252,169		154,635		21,586
Property and equipment, net		897,036		928,462		129,608
Intangible assets, net		86,661		186,287		26,005
Rental deposits		13,280		5,365		749
Long-term investments		825,533		1,195,290		166,856
Other non-current assets		110,960		147,693		20,617
Deferred tax assets		36,066		35,144		4,906
Goodwill		136,250		250,684		34,994

Total assets		18,382,970		16,515,137		2,305,423

Liabilities and equity
Current liabilities
Accounts payable		615,254		619,442		86,469
Deferred revenue		427,702		439,478		61,349
Accrued expenses and other current liabilities		704,410		603,410		84,233
Lease liabilities due within one year		141,971		103,672		14,472
Income tax payable		157,057		415,524		58,005
Deferred consideration in connection with business acquisitions-current		28,027		48,997		6,840
Convertible Senior Notes-current		20,191		—		—
Long-term borrowings, current portion		1,938,385		1,939,273		270,712
Short-term borrowings		2,365,535		675,000		94,226

Total current liabilities		6,398,532		4,844,796		676,306
Deferred consideration in connection with business acquisitions-non current		65,694		42,982		6,000
Lease liabilities		115,105		57,640		8,046
Deferred tax liabilities		241,915		435,811		60,837
Long—term borrowings		—		3,036		424
Other non-current liabilities		129,051		137,491		19,193

Total liabilities		6,950,297		5,521,756		770,806
Shareholder’s equity (ii)		11,432,673		10,993,381		1,534,617

Total liabilities and shareholder’s equity		18,382,970		16,515,137		2,305,423

(ii):

As of June 30, 2025, the number of ordinary shares outstanding was 318,881,690.

Hello Group Inc.

Unaudited Condensed Consolidated Statement of Cash Flows

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


	Three months Ended June 30									First half year Ended June 30
	2024			2025			2025			2024			2025			2025
	RMB			RMB			US$			RMB			RMB			US$
Cash flows from operating activities:
Net income (loss)		397,785			(139,411	)		(19,462	)		402,969			219,078			30,583
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of property and equipment		13,525			11,229			1,568			27,835			23,620			3,297
Amortization of intangible assets		1,279			7,655			1,069			2,558			13,846			1,933
Share-based compensation		51,458			37,801			5,277			106,128			78,661			10,980
Share of income on equity method investments		(11,536	)		(13,427	)		(1,874	)		(25,854	)		(53,158	)		(7,421	)
Cash received on distributions from equity method investments		1,197			—			—			1,197			—			—
Returns on investments		—			289			40			—			797			111
Loss on long-term investments		34,625			40			6			43,870			40			6
Gain or loss on disposal of property and equipment		(178	)		(146	)		(20	)		80			(248	)		(35	)
Provision of loss on receivable and other assets		145			312			44			1,921			5,717			798
Changes in operating assets and liabilities:
Accounts receivable		4,848			(17,847	)		(2,491	)		15,828			(36,991	)		(5,164	)
Prepaid expenses and other current assets		15,043			(133,016	)		(18,568	)		5,366			(121,641	)		(16,980	)
Rental deposits		—			8,016			1,119			(802	)		7,906			1,104
Deferred tax assets		(1,580	)		581			81			(4,078	)		921			129
Other non-current assets		(198,746	)		46,626			6,509			(206,343	)		81,672			11,401
Accounts payable		(14,292	)		4,047			565			(31,746	)		(9,496	)		(1,326	)
Income tax payable		(42,533	)		363,302			50,715			(36,497	)		262,323			36,619
Deferred revenue		(15,268	)		2,684			375			1,406			11,719			1,636
Accrued expenses and other current liabilities		121,547			(70,803	)		(9,884	)		64,747			(141,786	)		(19,793	)
Deferred tax liabilities		14,410			181,183			25,292			379,421			193,896			27,067
Other non-current liabilities		103,500			(38,986	)		(5,442	)		127,393			(47,026	)		(6,565	)

Net cash provided by operating activities		475,229			250,129			34,919			875,399			489,850			68,380
Cash flows from investing activities:
Purchase of property and equipment		(199,842	)		(26,162	)		(3,652	)		(244,018	)		(53,976	)		(7,535	)
Payment for long-term investments		(5,250	)		(72,593	)		(10,134	)		(5,250	)		(72,593	)		(10,134	)
Payment for business acquisition		—			—			—			—			(194,390	)		(27,136	)
Cash received on maturity of short-term deposits		781,016			—			—			1,081,016			1,107,245			154,565
Purchase of long-term deposits		—			—			—			(718,860	)		—			—
Cash received on maturity of long-term deposits		—			—			—			718,860			150,000			20,939
Cash received from sales of long-term investment		—			—			—			2,000			—			—
Loan to a third-party company		—			(6,278	)		(876	)		—			(33,756	)		(4,712	)
Other investing activities		298			302			42			683			494			69

Net cash provided by (used in) investing activities		576,222			(104,731	)		(14,620	)		834,431			903,024			126,056
Cash flows from financing activities:
Proceeds from exercise of share options		2			2			—			13			4			1
Repurchase of ordinary shares		(394,561	)		(97,196	)		(13,568	)		(506,822	)		(298,725	)		(41,700	)
Dividends payment		(716,302	)		(346,182	)		(48,325	)		(716,302	)		(346,182	)		(48,325	)
Payment in relation to redemption of convertible bonds		—			(20,221	)		(2,823	)		—			(20,221	)		(2,823	)
Proceeds from short-term borrowings		—			—			—			1,331,635			—			—
Repayment of short-term borrowings		—			—			—			—			(1,690,535	)		(235,990	)
Repayment of long-term borrowings		—			(279	)		(39	)		(215	)		(674	)		(94	)

Net cash (used in) provided by financing activities		(1,110,861	)		(463,876	)		(64,755	)		108,309			(2,356,333	)		(328,931	)
Effect of exchange rate changes		27,725			(53,620	)		(7,488	)		48,539			(79,305	)		(11,070	)

Net (decrease) increase in cash and cash equivalents		(31,685	)		(372,098	)		(51,944	)		1,866,678			(1,042,764	)		(145,565	)
Cash, cash equivalents and restricted cash at the beginning of period		10,181,275			8,971,755			1,252,409			8,282,912			9,642,421			1,346,030
Cash, cash equivalents and restricted cash at the end of period		10,149,590			8,599,657			1,200,465			10,149,590			8,599,657			1,200,465

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 (loss) to comparable GAAP measures.


	Three months Ended June 30, 2024								Three months Ended June 30, 2025										Three months Ended June 30, 2025
	GAAP RMB			Share-based compensation RMB		Non-GAAP RMB			GAAP RMB			Amortization of intangible assets from business acquisitions RMB		Share-based compensation RMB		Non-GAAP RMB			GAAP US$			Amortization of intangible assets from business acquisitions US$		Share-based compensation US$		Non-GAAP US$
Cost of revenues		(1,595,789	)		1,796		(1,593,993	)		(1,607,712	)		1,762		1,560		(1,604,390	)		(224,428	)		246		218		(223,964	)
Research and development		(193,168	)		13,512		(179,656	)		(183,859	)		1,140		10,710		(172,009	)		(25,666	)		159		1,495		(24,012	)
Sales and marketing		(364,769	)		4,149		(360,620	)		(347,327	)		3,474		4,159		(339,694	)		(48,485	)		485		581		(47,419	)
General and administrative		(121,482	)		32,001		(89,481	)		(88,839	)		—		21,372		(67,467	)		(12,401	)		—		2,983		(9,418	)

Cost and operating expenses		(2,275,208	)		51,458		(2,223,750	)		(2,227,737	)		6,376		37,801		(2,183,560	)		(310,980	)		890		5,277		(304,813	)
Income from operations		425,044			51,458		476,502			403,496			6,376		37,801		447,673			56,326			890		5,277		62,493
Net income (loss) attributable to Hello Group Inc.		397,785			51,458		449,243			(140,204	)		6,376		37,801		(96,027	)		(19,573	)		890		5,277		(13,406	)

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 (loss) to comparable GAAP measures-continued.


	First half year Ended June 30, 2024								First half year Ended June 30, 2025										First half year Ended June 30, 2025
	GAAP RMB			Share-based compensation RMB		Non-GAAP RMB			GAAP RMB			Amortization of intangible assets from business acquisitions RMB		Share-based compensation RMB		Non-GAAP RMB			GAAP US$			Amortization of intangible assets from business acquisitions US$		Share-based compensation US$		Non-GAAP US$
Cost of revenues		(3,098,797	)		3,678		(3,095,119	)		(3,176,786	)		3,025		3,334		(3,170,427	)		(443,462	)		422		465		(442,575	)
Research and development		(385,359	)		22,298		(363,061	)		(379,628	)		1,999		19,770		(357,859	)		(52,994	)		279		2,760		(49,955	)
Sales and marketing		(658,200	)		10,266		(647,934	)		(676,505	)		6,264		8,470		(661,771	)		(94,436	)		874		1,182		(92,380	)
General and administrative		(252,863	)		69,886		(182,977	)		(229,350	)		—		47,087		(182,263	)		(32,016	)		—		6,573		(25,443	)

Cost and operating expenses		(4,395,219	)		106,128		(4,289,091	)		(4,462,269	)		11,288		78,661		(4,372,320	)		(622,908	)		1,575		10,980		(610,353	)
Income from operations		885,359			106,128		991,487			702,981			11,288		78,661		792,930			98,133			1,575		10,980		110,688
Net income attributable to Hello Group Inc.		402,969			106,128		509,097			217,790			11,288		78,661		307,739			30,403			1,575		10,980		42,958